RSP
S&P 500 Equal Weight — what the index does if every stock counts the same
Latest value
203.6799
as of 2026-05-01
All-time percentile
100th
1-year change
+22.6%
Time series
Showing 628 of 1,256 data points
About this series
Invesco S&P 500 Equal Weight ETF. Tracks an index where each of the ~500 S&P 500 companies gets an equal ~0.2% weight, regardless of market cap. Rebalanced quarterly.
Why it matters: The spread between RSP and SPY (cap-weighted) is a cleaner measure of market breadth than any technical indicator. When RSP leads, the rally is broad — gains are distributed across the market. When SPY leads (and RSP lags), the rally is narrow — being driven by a handful of mega-cap winners.
How to read it: Look at the ratio RSP / SPY over time. Rising ratio = equal weight outperforming = broadening rally (usually healthier). Falling ratio = mega-cap concentration (late-cycle, historically followed by corrections). The current deep underperformance of RSP vs SPY is one of the most extreme concentration readings on record.
Caveats: ETF price, not the index itself — so dividend-reinvested and net of a small (~0.2%) expense ratio. Only goes back to 2003 (ETF inception).