Invesco launches S&P 500 Equal Weight Swap ETF

The firm said its S&P 500 Equal Weight Swap ETF is the “first swap-based equal weight ETF in the world”, providing investors with exposure to the equal weight index.
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The ETF is constructed from the parent S&P 500 index, including the same constituents but equally weighting them at each rebalancing date rather than weighting companies according to their market capitalisation, Invesco explained.
It will track the index’s performance through swap-based replication, meaning the ETF will hold a basket of quality equities and deliver t…