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The Astoria US Equal Weight Quality Kings ETF (ROE) , which launched in 2023, is up 17.6% year to date through Tuesday's close, according to FactSet. By comparison, the Invesco S & P 500 Equal Weight ETF (RSP) and iShares MSCI USA Equal Weighted ETF (EUSA) are up 9.7% and 10.1%, respectively. ROE YTD mountain This equal weighted ETF is outperforming some of its rivals in 2024. The Astoria fund is underperforming some other funds that focus on quality, like the iShares MSCI USA Quality Factor ETF (QUAL) . The Astoria fund also has a higher expense ratio than some of its rivals at 0.49%.
Persons: John Davi, ROE, Davi, Frank Tedesco, Todd Sohn Organizations: Astoria, RSP, EUSA, Nvidia, Big Tech Locations: ROE
This is notably different from the S & P 500 and Nasdaq Composite , which are weighted based on market cap. Bank of America ETF strategist Jared Woodard listed the Invesco S & P 500 Equal Weight ETF (RSP) as a top trade for 2023. The fund had a total return of -11.6% in 2022, meaning its decline was significantly less than the S & P 500. After tech stocks underperformed again in December, value stocks have now made up a lot of ground in the major indexes. However, equal-weighted funds still give investors more exposure to value stocks and areas like energy and materials than broad index funds.
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