A valid complaint regarding the S&P 500 index is that it is dominated by a relatively small number of large companies. (I like that small of large<grin>)Rydex has developed an ETF that gives equal weighting to all 500 companies. The theory is that this would be more representative of "the market" since it holds all companies in equal amounts.My humble opinion is that it would allow more true diversification. Plus by giving weight to smaller companies, you perhaps could have more a value play, think fallen angels. For an ETF, its .4 annual expense ratio is a little high and there may be some tax inefficiencies due to the quarterly rebalancing.Rydex S&P equal weight ETF trades under RSP. www.rydexfunds.com/etfwww.indexuniverse.combuzman
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