Equal-Weight S&P 500 (RSP) vs EM (EEM)
Live side-by-side comparison with current values, changes, and key statistics.
Why This Comparison Matters
RSP strips out US mega-cap dominance and compares the median S&P 500 name against EM. When EEM outperforms RSP, broad EM (not just Chinese tech) is leading on dollar weakness, commodity rally, or EM policy easing. When RSP outperforms EEM, even the broad median US name beats EM, a strong US exceptionalism signal.
Cross-Asset Analysis
S&P 500 Equal Weight (RSP) (equal-weight S&P 500, measures market breadth vs cap-weighted SPY) and Emerging Markets (EEM) (iShares MSCI Emerging Markets ETF) are priced in separate markets, yet their co-movement tells macro desks something neither series reveals alone. Index construction choices inside S&P 500 Equal Weight (RSP) and Emerging Markets (EEM), including weighting methodology and inclusion rules, create persistent tilts that show up in the spread. Pairs trading between S&P 500 Equal Weight (RSP) and Emerging Markets (EEM) is common because the spread is more stationary than either individual price, suitable for mean-reversion strategies.
In bull markets the more aggressive peer between S&P 500 Equal Weight (RSP) and Emerging Markets (EEM) typically leads, while bear markets shift leadership toward the more defensive peer. Flows matter for the S&P 500 Equal Weight (RSP)-Emerging Markets (EEM) relationship: when one peer attracts more capital, it outperforms on demand pressure that often mean-reverts. The S&P 500 Equal Weight (RSP)-Emerging Markets (EEM) spread captures the tilt between two variants of the same asset: one may be more defensive, one more cyclical.
S&P 500 Equal Weight (RSP) and Emerging Markets (EEM) occupy the same asset class, and the relative performance between them isolates the specific factor that distinguishes one from the other. Overlay strategies trade the S&P 500 Equal Weight (RSP)-Emerging Markets (EEM) spread through options or swaps when the underlying pair is directly tradable, sizing against realized spread volatility.
90-Day Statistics
No data available
No data available
Explore Each Metric
Related Scenarios & Forecasts
Get daily macro analysis comparing key metrics delivered to your inbox. Stay ahead of market-moving divergences.
Frequently Asked Questions
What is the relationship between S&P 500 Equal Weight (RSP) and Emerging Markets (EEM)?+
S&P 500 Equal Weight (RSP) and Emerging Markets (EEM) are connected through shared asset class exposure with different factor tilts. When the underlying asset class shifts, both respond, though with different sensitivities and at different speeds. The spread between S&P 500 Equal Weight (RSP) and Emerging Markets (EEM) captures the specific macro signal that flows through this relationship.
When does S&P 500 Equal Weight (RSP) typically lead Emerging Markets (EEM)?+
S&P 500 Equal Weight (RSP) tends to lead Emerging Markets (EEM) during rotation episodes between the two factor exposures. In those periods, moves in S&P 500 Equal Weight (RSP) precede corresponding moves in Emerging Markets (EEM) by days to weeks, depending on the transmission channel and the depth of each market.
How are S&P 500 Equal Weight (RSP) and Emerging Markets (EEM) historically correlated?+
Long-run correlation between S&P 500 Equal Weight (RSP) and Emerging Markets (EEM) varies by regime. Peers in the same asset class are highly correlated in direction, with the spread reflecting factor tilts and rotation dynamics. The correlation is not stable: it shifts with macro conditions, and the periods when it breaks down are often the most informative moments in the S&P 500 Equal Weight (RSP)-Emerging Markets (EEM) relationship.
What macro conditions drive divergence between S&P 500 Equal Weight (RSP) and Emerging Markets (EEM)?+
Divergence between S&P 500 Equal Weight (RSP) and Emerging Markets (EEM) typically arises from index reconstitution, mega-cap earnings surprises, or liquidity differences between the peers. When one asset's idiosyncratic drivers dominate, the spread moves in ways that the common macro story does not predict, which is usually a signal to look more carefully at the specific drivers at work in S&P 500 Equal Weight (RSP) or Emerging Markets (EEM).
Is S&P 500 Equal Weight (RSP) a hedge for Emerging Markets (EEM)?+
Peers like S&P 500 Equal Weight (RSP) and Emerging Markets (EEM) do not hedge each other; both rise or fall with the shared asset class, and using the pair as a spread trade is different from using it as a hedge. Effective hedging requires matching the hedge to the specific risk being protected, and the S&P 500 Equal Weight (RSP)-Emerging Markets (EEM) pair is best stress-tested under scenarios the investor most worries about before being sized into a real portfolio.
Related Comparisons
Data sourced from FRED, CoinGecko, CBOE, and other providers. This page is for informational purposes only and does not constitute financial advice. Past performance does not guarantee future results.