RSP Equal-Weight S&P 500 ETF Crosses $100 Billion — SkimNews
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- Invesco S&P 500 Equal Weight ETF (RSP) crossed $100 billion in assets under management for the first time, pulling in more than $12 billion in inflows this year while outperforming the market-weighted S&P 500 by roughly 3% year-to-date through August 21.
- The Magnificent 7 — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla — collectively make up roughly one-third of the S&P 500 but posted flat returns in H1 2026, compared with 9.3% gains for the broader index.
- Top 10 S&P 500 names account for nearly 40% of the index, fueling concentration-risk concerns as heavy AI-related capital spending weighs on mega-cap sentiment, per NovaDius president Nathan Geraci.
- Vanguard S&P 500 ETF (VOO), iShares Core S&P 500 ETF (IVV), and SPDR S&P 500 Trust (SPY) — the three largest market-cap S&P 500 funds — hold close to $3 trillion combined, with VOO alone at roughly $1 trillion.
- Cinthia Murphy of VettaFi said strong earnings growth in the 'other 493' S&P 500 companies is supportive for equal weighting, framing it as 'betting on all the horses' instead of 'picking a winning horse.'
- Roughly 30 equal-weight ETFs exist beyond RSP, including options tracking the Russell 1000 (EQAL), Nasdaq-100 (QQEW), dividend aristocrats (NOBL), biotech (XBI), and U.S. sectors (EQL), according to Geraci.
Why it matters: RSP crossing $100 billion signals that concentration fears are translating into real flows — $12 billion this year into a strategy that barely registered when the Mag 7 were doing all the heavy lifting. With the top 10 names now accounting for 40% of the S&P 500, even a modest rotation from mega-caps into the 'other 493' reshapes where passive index dollars actually sit.
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