The Invesco S&P 500 Equal Weight ETF (RSP), a smart beta fund with over $74.09 billion in assets, provides equally-weighted exposure to S&P 500 constituents, offering diversification from traditional market-cap concentration. With an expense ratio of 0.20%, RSP has generated an 8.8% year-to-date return and 7.51% over the last year (as of 09/25/2025), with its heaviest sector allocations in Industrials, Financials, and Information Technology. While it serves as a large option in the large-cap blend category, its expense ratio is notably higher than market-cap weighted alternatives like SPDR S&P 500 ETF (SPY) and Vanguard S&P 500 ETF (VOO), which boast significantly larger AUM and lower fees.
The Invesco S&P 500 Equal Weight ETF (RSP) is a prominent smart beta fund with over $74.09 billion in assets under management, offering a distinct alternative to traditional market-cap weighted indices. Its core strategy involves equally weighting all constituents of the S&P 500, thereby mitigating concentration risk associated with mega-cap stocks. This is evidenced by its top ten holdings accounting for only 2.79% of total assets. The fund's sector allocation is consequently rebalanced, with Industrials representing the largest portion at 15.6%, followed by Financials and Information Technology. From a performance perspective, RSP has delivered a year-to-date return of 8.8% and a one-year return of 7.51% as of September 25, 2025, with a market-like beta of 0.99 and a three-year standard deviation of 15.58%. While it provides effective diversification with 507 holdings, its 0.20% expense ratio is a key consideration, as it is substantially higher than market-cap weighted alternatives such as SPY (0.09%) and VOO (0.03%), which also command significantly larger asset bases.
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