Invesco Russell 1000 Equal Weight ETF (EQAL)
Invesco Russell 1000 Equal Weight ETF operates in the Asset Management - Global industry of the Financial Services sector, headquartered in Downers Grove, IL, US. The stock last traded at $61.35, up 0.27% on the session, giving a market capitalisation of $828.7M. Its beta of 0.81 implies it has historically moved less than the broad market.
The Invesco Russell 1000 Equal Weight ETF (EQAL) seeks to replicate the investment results of the Russell 1000 Equal Weight Index. To achieve this objective, the fund allocates a minimum of 90% of its total assets to the securities that make up the underlying index. This index is constructed from stocks found within the broader Russell 1000 Index and employs a distinct equal weighting approach: it distributes weight equally among 11 sector groups, and subsequently, each security within those sectors receives an equal weighting. Both the ETF and its benchmark index undergo quarterly re-weighting processes. These adjustments occur on the third Friday of March, September, and December, with an additional rebalance taking place on the last Friday of June, which aligns with the annual reconstitution of the Russell 1000 Index.
Invesco Russell 1000 Equal Weight ETF is most often compared with the following Financial Services names: