Solactive launches US large cap equal weight index

Sep 14th, 2017 | By | Category: ETF and Index News

Solactive has launched a new index that tracks an equal weight exposure to the US large-cap equity segment. The Solactive US Large Cap Equal Weight Index will include the 500 largest US-domiciled equities and will underlie the forthcoming Goldman Sachs Equal Weight US Large Cap Equity ETF (Bats: GSEW).

Solactive launches US large cap equal weight index

Steffen Scheuble, CEO of Solactive

Steffen Scheuble, CEO of Solactive, commented: “Building on the market-cap-weighted Solactive US Large Cap Index, the Solactive US Large Cap Equal Weight Index provides an equal weight version of that benchmark and an innovative solution to help investors potentially avoid excessive concentration into larger US companies. We’re excited to once again serve as an index provider to GSAM ETF through the creation of such a timely and unique index.”

With this launch, Solactive is expanding its range of country-wide benchmarks relying on an equal weighting system, which currently covers France, Germany and Switzerland.

The index is calculated as a price return and gross return index denominated in USD. It is composed of 500 stocks with the highest float adjusted market capitalisation. The index is readjusted semi-annually and equally weighted on a monthly basis.

Investors looking for equally weight US equity large-cap exposure could try the db x-trackers S&P 500 Equal Weight UCITS ETF (LON: XDWE) which was launched in June 2014 and has $460 million in assets under management with a total expense ratio of 0.25%.

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