Loading…
Loading…
Focus Partners Advisor Solutions LLC bought a new stake in Invesco ESG S&P 500 Equal Weight ETF (NYSEARCA:RSPE) in the undefined quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,137 shares of the company's stock, valued at approximately $497,000.
The S&P 500 Equal Weight Index outperformed the S&P 500 by 4% during the third quarter. The S&P 500 Equal Weight's outperformance during the third quarter represented a reversal from its underperformance during the first half of the year.
Equal weight slightly outperformed the benchmark in July as market breadth remained stronger than in the first half. The market continued to climb in July as investors focused on second-quarter earnings reports, further propelled by better-than-expected macroeconomic updates.
Bank of America recently raised its 2023 price target for the S&P 500 to 4,300 and to 4,600 in a bullish case scenario.
In the current environment where cap-weighted indexes are dominated by just a few names, equal weighting can mitigate concentration risk. Advisors can use the Invesco S&P 500® Equal Weight ETF (RSP) as the core equity holding in client portfolios to remove size bias.
The S&P 500 Equal Weight Index lagged its cap-weighted parent S&P 500 in April, marking the third consecutive month of underperformance after a long period of outperformance. The market's recovery continued in April as investors focused on first-quarter earnings reports, further propelled by expectations of just one more interest rate hike from the Fed.
Many advisors use the Invesco S&P 500® Equal Weight ETF (RSP) as the core equity holding in client portfolios as it removes size bias, effectively mitigating concentration risk. RSP is based on the S&P 500 Equal Weight Index, which is designed to be a size-neutral version of the S&P 500.
The S&P 500 Equal Weight Index lagged its cap-weighted parent S&P 500 in March for the second consecutive month but maintains its trailing 12-month lead. March was characterized by high volatility and concerns for the global economy.
SEC filings for RSPE aren't indexed yet — common for recently launched funds. Browse the issuer's filings on SEC EDGAR directly.