What RSP Is
RSP is the Invesco S&P 500 Equal Weight ETF. Where a cap-weighted fund sizes each holding by market value, RSP gives every company in the S&P 500 a slice of roughly 0.20% and rebalances back to that level every quarter. On August 12, 2026, the fund traded at $221.08 with a net asset value of $220.22, held 505 stocks, and carried about $99.18 billion in assets under management.
Why Equal Weight Is the Thesis
The argument for RSP rests on how top-heavy the plain S&P 500 has become. The Magnificent Seven now account for roughly 34% of the index, which leaves the other 493 companies, the group some call the “Forgotten 493,” sharing the rest. In a cap-weighted fund like SPY, Apple alone is near 7% of the portfolio. RSP owns those same giants, just at about 0.20% each, so weakness in a few mega-caps does not weigh on the fund the way it does in SPY.
The 2026 Numbers and the Caveats
Equal weight has worked so far this year. RSP returned 13.9% year to date against 11.6% for the S&P 500, with Tesla down about 28% and Meta down about 10% in 2026. The fund charges a 0.20% expense ratio and yields 1.49%.
Larry Benedict’s Project 2026 pitch frames RSP as the vehicle for a rotation trade driven by trade policy. The caveat is that his One Ticker Trader service trades options on RSP rather than simply holding the fund, which is a different risk profile. For how RSP compares to SPY in detail, see our RSP vs SPY explainer. If you are new to how a fund fits a portfolio, our space ETF guide runs through the same fund-versus-stock logic in another sector.
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