What Is the RSP ETF? Returns, Expense Ratio, Holdings, and Alternative ETFs Explained
The Invesco S&P 500 Equal Weight ETF (RSP) provides equal-weighted exposure to the S&P 500 as a core holding with stronger diversification. Its strengths are reduced Big Tech concentration and quarterly dividends, and the differences in weighting method and position sizes versus VOO, IVV, and SPY are the key selection criteria.
SubscribeWhat Is the Invesco S&P 500 Equal Weight ETF?
It is a passive ETF managed by Invesco that tracks the S&P 500 Equal Weight Index. It holds every S&P 500 constituent at the same weight and rebalances back to equal weights every quarter.
It suits asset allocation investors who want to reduce Big Tech concentration and strengthen the diversification of their S&P 500 exposure, as well as long-term investors who want exposure to the equal-weight factor.
It is an ETF managed by Invesco using a passive (index-tracking) approach.
How Do You Invest in the Invesco S&P 500 Equal Weight ETF?
| Item | Details |
|---|---|
| Tracked index | S&P 500 Equal Weight Index |
| Management style | Passive (index tracking) |
| Weighting method | Equal weight (same weight for each stock) |
| Dividend frequency | Quarterly |
| Total expense ratio | 0.20% |
| Manager | Invesco |
The fund holds all S&P 500 constituents at equal weights and rebalances them back to equal weights every quarter. Compared with market-cap-weighted ETFs, it has very little Big Tech concentration and, structurally, a relatively heavier allocation to smaller large-cap stocks.
- Core S&P 500 equal-weight ETF
- Reduced Big Tech concentration
- Quarterly rebalancing keeps weights balanced
Invesco S&P 500 Equal Weight ETF Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) stand at $101.3B, and the total expense ratio is 0.20% per year.
VOO, IVV, and SPY, shown in the table, are all classified as market-cap-weighted S&P 500 ETFs, whereas RSP holds the same group of stocks at equal weights, so it differs significantly in its Big Tech weighting and its allocation to smaller large-cap stocks.
Invesco S&P 500 Equal Weight ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeIn Big Tech-led rallies, it has tended to gain less than market-cap-weighted ETFs, while in cycles led by value stocks and industrials it has shown relatively steadier performance.
It belongs to the group of mega ETFs that attract both asset allocation money seeking to reduce Big Tech concentration and demand for the equal-weight factor. Inflows can become especially pronounced when concerns about market concentration come to the fore.
Invesco S&P 500 Equal Weight ETF Pros and Cons
Its main strengths are reduced Big Tech concentration and stronger diversification, while short-term underperformance in bull markets without Big Tech leadership and higher turnover should be considered in advance.
💪 Key Strengths
⚠️ Points to Watch
Alternatives and Related Products to the Invesco S&P 500 Equal Weight ETF
VOO, IVV, and SPY, shown in the table, are substitutes that hold the same S&P 500 at market-cap weights, with a larger Big Tech weighting. VTI is a variant with broad exposure that also includes mid- and small-cap stocks, and QQQ is a concentrated variant focused on the Nasdaq 100. You can also consider style variants such as SPYG for growth and SPYV for value.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 VOO | Vanguard S&P 500 ETF | $694.81 | -1.8% | $1.06T | 0.03% | 1.07% | +11.1% |
 IVV | iShares Core S&P 500 ETF | $759.18 | -1.8% | $886.1B | 0.03% | 1.11% | +11.1% |
 SPY | SPDR S&P 500 ETF Trust | $755.72 | -1.8% | $813.6B | 0.09% | 1% | +11.2% |
 VTI | Vanguard Morningstar Total Stock Market ETF | $371.57 | -1.8% | $701.3B | 0.03% | 1.06% | +11.2% |
 QQQ | Invesco QQQ Trust Series 1 | $690.49 | -3.5% | $480.9B | 0.18% | 0.45% | +10.3% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 TPG | TPG Inc | - | $46.68 | -2.6% | $17.9B | 53.7 | 5.03% |
| INTC | Intel Corp | 0.00% | $65.76 | -28.6% | $347.6B | - | 0.06% |
| STX | Seagate Technology Holdings Plc | 0.00% | $644.58 | -8.0% | $146.6B | 33.9 | 0.48% |
| AMD | Advanced Micro Devices Inc | 0.00% | $504.80 | -10.9% | $824.1B | 129.6 | - |
| ON | ON Semiconductor Corp | 0.00% | $71.67 | -4.7% | $27.9B | 46.1 | - |
| SNDK | Sandisk Corp | 0.00% | $1150.89 | -13.5% | $166.3B | 15.8 | - |
| WDC | Western Digital Corp | 0.00% | $366.11 | -7.4% | $137.0B | 14.2 | 0.18% |
| CIEN | CIENA Corp | 0.00% | $320.72 | -8.2% | $45.5B | 71.6 | - |
| CNC | Centene Corp | 0.00% | $68.45 | -0.3% | $33.9B | 23.5 | - |
Investor Checkpoints for the Invesco S&P 500 Equal Weight ETF
Here are the points to review before investing in RSP. Reduced Big Tech concentration is its strength, but it is advisable to double-check the short-term lag in bull markets, higher turnover, and currency effects before buying, and to review your holding size and diversification strategy together.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense ratio | Compared with market-cap-weighted ETFs | Somewhat higher |
| ⚖️ Weighting method | Equal weight vs. market-cap weight | Equal weight |
| 🔄 Turnover | Impact of quarterly rebalancing | Higher |
| 💱 Exchange rate | Impact on returns converted to won | Unhedged |
Short-term underperformance in Big Tech-led bull markets, higher turnover, and exchange rate fluctuations are the main drivers of short-term volatility. It is also worth reviewing the balance of your holdings against market-cap-weighted ETFs.
For stronger S&P 500 diversification, RSP is regarded as the standard choice. To keep the Big Tech weighting as is, VOO, IVV, and SPY are suitable variants; for broad market exposure, VTI; and for managing growth and value styles separately, SPYG and SPYV.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of May 22, 2026.
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