Invesco S&P 500® Equal Weight ETF

Invesco S&P 500® Equal Weight ETF (RSP) owns all the stocks in the S&P 500 but resets each to the same weight every quarter, so no giant dominates. That spreads money widely: as of July 31, 2026, its 10 largest positions made up just 2.56% of its $96.5 billion in assets. Its 0.20% annual fee (expense ratio) is below the 0.28% average for similar funds but above the 0.09% two rivals charge.

• Over the year to Nov 2, 2026, RSP returned +18.9%, 1st of 9 among similar funds.
• Its 5-year annualized return was +8.4% and its 10-year +12.5%.
• In the 2020 COVID crash it fell 39% and regained its old high 7.6 months after the low.
• Its worst full calendar year was 2008 (-40.1%); its best was 2009 (+44.6%).
• The deepest fall in its price history was 59.9% (Jul 19, 2007 to Mar 9, 2009), recovered by Feb 8, 2011.

As of Jul 31, 2026, the fund held 504 securities; the ten largest made up 2.56% of assets. It also reported 4.42% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.

By sector

• Over the three months to Jul 31, 2026, investors added a net $3.59B (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +2.70%, +2.41%, +1.02%.

RSP tracks the S&P 500® Equal Weight Index, which S&P Dow Jones Indices builds from every company in the regular S&P 500. The standard S&P 500 sizes each company by its float-adjusted market value (share price times the shares available to the public), so the largest firms carry the most weight. The equal-weight index instead gives every member the same slice at each quarterly rebalance. As of June 30, 2026, it had 504 members with market values from $5.2 billion to $4.8 trillion. Equal weighting gives the smaller ones far more influence than they have in the regular index.

Invesco uses full replication, which means the fund holds essentially every stock in the index at its index weight. Between rebalances, weights drift as prices move. Each quarter the fund trims stocks that have grown past an equal share and adds to those that have shrunk. In effect, it regularly moves money from recent winners to laggards. The prospectus reports portfolio turnover (the share of holdings replaced in a year) of 27%.

The fund doesn't pick stocks. It generally won't drop a lagging company unless the index does. It may also use derivatives that behave like the index's stocks. As of July 31, 2026, its only derivative was a tiny position in E-mini S&P 500 Equal Weight futures.

• RSP charges 0.2% a year, versus an average of 0.28% for the similar funds below (4th 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).

It spreads money across all of the S&P 500's roughly 500 companies for a 0.20% annual fee, giving broad US stock exposure that relies less on the largest firms.

RSP adds broad US stock exposure that leans less on the largest companies, but it falls hard in bear markets. Its deepest drop, 59.9%, came in the 2008 financial crisis, and recovery took about 23 months from the March 2009 low. Its worst calendar year was 2008, a 40.1% loss. It fell 39% in the 2020 COVID crash and recovered in about eight months. In the 2022 bear market it fell 21.4%, and recovery took 16 months. Cashing out shares during stretches like these locks in losses, so money for near-term spending is often held in steadier assets.

Income is modest: a 1.46% trailing 12-month yield as of October 27, 2026, paid quarterly. The 0.20% expense ratio works out to $20 in the first year on $10,000 in the SEC's standard example. Past results don't predict future returns, and a retirement plan needs to weigh the whole portfolio, not one fund.

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

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