Invesco S&P 100 Equal Weight ETF
EQWL
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- Invesco S&P 100 Equal Weight ETF (EQWL) is an exchange-traded fund that seeks to track the performance of the S&P 100 Equal Weight Index, an equal-weighted version of the S&P 100 Index comprising 100 major U.S. large-cap blue-chip companies across multiple industry groups including financials, information technology, health care, industrials, consumer staples, consumer discretionary, communication services, utilities, energy, real estate, and materials; the fund invests at least 90% of its total assets in the index's component securities and undergoes quarterly rebalancing to maintain equal weighting among holdings. EQWL offers investors diversified exposure to large-value U.S. equities through daily liquidity on the NYSE Arca exchange, quarterly dividend distributions with a recent 30-day SEC yield of approximately 1.81%, a management fee of 0.25%, and total expense ratio of 0.30%; top holdings as of Q3 2025 include Intel Corporation (1.33%), Tesla Inc. (1.26%), Caterpillar Inc. (1.11%), Apple Inc. (1.10%), and International Business Machines Corporation (1.08%), with a total of 101 securities, weighted average market capitalization of $442.8 billion, P/E ratio of 24.93, P/B ratio of 9.51, and net assets under management exceeding $1.83 billion. Launched on December 1, 2006, and domiciled in the United States, EQWL operates primarily in U.S. equity markets with approximately 98% geographic allocation to the United States, minor exposures to Ireland (1%) and Switzerland (1%), and targets institutional and retail investors seeking balanced large-cap exposure as an alternative to market-cap weighted benchmarks like the S&P 100 Index or S&P 500. In recent years, the fund has experienced significant asset growth, with 1-year fund-level flows reaching $725.54 million and total AUM expansion amid market volatility; it outperformed the S&P 500 by 1.36% year-to-date through Q2 2025, bolstered by its contrarian rebalancing strategy that systematically trims outperforming stocks like those in the "Magnificent 7" tech group; additionally, institutional interest has surged, evidenced by Nova Wealth Management Inc. increasing its holdings by 192.3% in Q1 2025 and a 139.7% rise in short interest to 56,100 shares as of September 15, 2025. Prior to June 21, 2019, EQWL tracked predecessor indices including the Dynamic Large Cap Intellidex Index, RAFI Fundamental Large Core Index, and Russell Top 200 Equal Weight Index, reflecting Invesco's strategic evolution of the product's underlying benchmark to the current S&P 100 Equal Weight Index without altering the ticker or core equal-weight methodology.