Invesco Russell 1000 Equal Weight ETF

Invesco Russell 1000 Equal Weight ETF (EQAL) tracks the Russell 1000 Equal Weight Index. The index holds about 1,000 large and midsize US companies. Most broad funds give the biggest companies the most weight. EQAL instead gives each of 11 industries an equal share, then splits that share equally among the stocks in it, so no single company dominates. Its 0.20% expense ratio matches the peer average. iShares' EUSA, another equal-weight fund, charges 0.09%.

• Over the year to Oct 27, 2026, EQAL returned +13.7%, 6th of 9 among similar funds.
• Its 5-year annualized return was +6.8% and its 10-year +10.7%.
• In the 2020 COVID crash it fell 40.2% and regained its old high 6.7 months after the low.
• Its worst full calendar year was 2022 (-13.5%); its best was 2019 (+24.5%).
• The deepest fall in its price history was 40.4% (Jan 16, 2020 to Mar 23, 2020), recovered by Oct 12, 2020.

As of Aug 31, 2026, the fund held 1,008 securities; the ten largest made up 4.93% of assets. It also reported 14.74% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.

• Over the three months to Aug 31, 2026, investors added a net $9.1M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +1.04%, +0.07%, +3.00%.

EQAL, from Invesco, seeks to track the Russell 1000 Equal Weight Index. FTSE Russell builds that index from every stock in the Russell 1000, the 1,000 largest US companies by market value. The fund generally invests at least 90% of its total assets in those stocks, aiming to hold all of them at the index's weights.

Unlike funds that weight stocks by market value, this index spreads money evenly. FTSE Russell sorts each stock into one of 11 industries. Each industry gets an equal share, split equally among its stocks. A final screen drops companies with few publicly traded shares. As of October 31, 2025, the index held 997 stocks with market values from $870.5 million to $4.9 trillion. Stocks in industries with fewer companies get bigger weights, and mid-size companies count for more than in market-value-weighted funds. As of August 31, 2026, Charter Communications led at 0.92%, ahead of Motorola Solutions, Arista Networks and Comcast. The 10 largest positions totaled 4.93% of assets.

Equal weights drift as prices move, so the index periodically resets them, trimming winners and adding to laggards. The fund trades to follow these resets and when the index adds or removes a stock. The prospectus filed December 18, 2025 put annual turnover, the share of the portfolio replaced, at 31%.

• EQAL charges 0.2% a year, versus an average of 0.2% for the similar funds below (5th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $20 in the first year and $255 over 10 years (assuming a 5% annual return).

Spreading money evenly across industries and about 1,000 stocks can balance funds that put most of their weight in the biggest companies.

EQAL could spread a stock allocation more widely. Its top 10 holdings made up only 4.93% of assets as of August 31, 2026. It still falls with the stock market, though. It launched in December 2014, so it has no record from 2008. In the 2020 COVID crash it fell 40.2% and took 6.7 months to recover. In the 2022 bear market it fell 21.4% and needed 17.9 months to recover, getting back by March 27, 2024. Its worst calendar year was 2022, at -13.5%. Someone who sold shares for income during that stretch would have been selling at low prices for well over a year.

Income is modest: the trailing 12-month yield was 1.73% as of October 27, 2026, paid quarterly. In the SEC's standard example, costs on $10,000 come to $20 in the first year and $255 over 10 years. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.