Designed to provide broad exposure to the Large Cap Blend segment of the US equity market, the Invesco S&P 100 Equal Weight ETF (EQWL) is a passively managed exchange traded fund launched on 12/01/2006.
The fund is sponsored by Invesco. It has amassed assets over $1.56 billion, making it one of the larger ETFs attempting to match the Large Cap Blend segment of the US equity market.
Why Large Cap Blend
Large cap companies usually have a market capitalization above $10 billion. Overall, they are usually a stable option, with less risk and more sure-fire cash flows than mid and small cap companies.
Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.
Costs
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.25%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.72%.
Sector Exposure and Top Holdings
While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Financials sector--about 18.30% of the portfolio. Information Technology and Healthcare round out the top three.
Looking at individual holdings, Oracle Corp (ORCL) accounts for about 1.30% of total assets, followed by Nike Inc (NKE) and Goldman Sachs Group Inc/the (GS).
The top 10 holdings account for about 11.11% of total assets under management.
Performance and Risk
EQWL seeks to match the performance of the Russell Top 200 Equal Weight Index before fees and expenses. The S&P 100 Equal Weight Index is designed to provide equal-weighted exposure to the securities of the largest 200 companies in the US equity market.
The ETF has gained about 10.72% so far this year and was up about 18.04% in the last one year (as of 07/24/2025). In the past 52-week period, it has traded between $91.62 and $112.27.
The ETF has a beta of 0.94 and standard deviation of 15.25% for the trailing three-year period, making it a medium risk choice in the space. With about 103 holdings, it effectively diversifies company-specific risk.
Alternatives
Invesco S&P 100 Equal Weight ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, EQWL is a great option for investors seeking exposure to the Style Box - Large Cap Blend segment of the market. There are other additional ETFs in the space that investors could consider as well.
The SPDR S&P 500 ETF (SPY) and the Vanguard S&P 500 ETF (VOO) track a similar index. While SPDR S&P 500 ETF has $655.39 billion in assets, Vanguard S&P 500 ETF has $699.11 billion. SPY has an expense ratio of 0.09% and VOO charges 0.03%.
Bottom-Line
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Invesco S&P 100 Equal Weight ETF (EQWL): ETF Research Reports The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report NIKE, Inc. (NKE): Free Stock Analysis Report Oracle Corporation (ORCL): Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports Vanguard S&P 500 ETF (VOO): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).
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