DoubleLine Fortune 500 Equal Weight ETF (DFVE)

The DoubleLine Fortune 500 Equal Weight ETF (DFVE) is an index fund from DoubleLine, the Los Angeles based asset manager. It tracks the Fortune 500 Equal Weighted Index.

The index consists of companies on the Fortune 500 list, which ranks the largest U.S. companies by revenue. Rather than weighting holdings by market value, the index gives each constituent approximately the same weight and is periodically rebalanced back to equal weights.

This design reduces the concentration in the largest companies that characterizes market-cap-weighted indexes and gives smaller members of the list the same influence on returns as the biggest. The fund offers broad U.S. large-company exposure organized around revenue size rather than stock market value.