Symbols

RSP

Invesco S&P 500 Equal Weight ETF·ARCA

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Key Stats

Assets Under Management

77.74BUSD

Fund Flows (1Y)

-3.00BUSD

Dividend Yield

1.61%

Discount/Premium to NAV

-0.01%

Shares Outstanding

395.56M

Expense Ratio

0.20%

About Invesco S&P 500 Equal Weight ETF

Issuer

Invesco Capital Management LLC

Brand

Invesco

Home Page

https://www.invesco.com/portal/site/us/financial-professional/etfs/product-detail?productId=RSP

Inception Date

Apr 24, 2003

Structure

Open-Ended Fund

Index Tracked

S&P 500 Equal Weight Index

Management Style

Passive

Dividend Treatment

Distributes

Distribution Tax Treatment

Qualified dividends

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

Invesco Capital Management LLC

Distributor

Invesco Distributors, Inc.

Probably one of the best-known equal-weighted ETFs, RSP simply takes all the stocks in the S&P 500 and weights them equally. Equal weighting greatly increases the footprint of smaller S&P 500 stocks (many of which we consider to be midcaps), which results in higher beta for the portfolio. However, equal weighting also lowers concentration, reducing blow-up risk from any one name. While one should expect some sector biases here as well, RSP does not equal-weight sectors as some peer equal-weight ETFs do. Quarterly rebalancing implements the contrarian theme baked into all equal-weight plays: sell winners and buy losers.