ALPS Equal Sector Weight ETF offers a different weighting scheme to market-cap weighted averages, providing diversification and reducing sector concentration risk. EQL equal weights the 11 Select Sector SPDR ETFs, rebalancing quarterly, and offers a simple way to track sector performance. EQL has outperformed the Invesco's S&P 500 Equal Weight ETF since 2021, but both have underperformed the market-cap weighted S&P 500.
The ALPS Equal Sector Weight ETF (EQL) made its debut on 07/07/2009, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Large Cap Blend category of the market.