Invesco S&P 500 Equal Weight Income Advantage ETF (RSPA)

The Invesco S&P 500 Equal Weight Income Advantage ETF (RSPA) is an actively managed fund from Invesco that seeks income along with exposure to an equal-weighted version of the S&P 500.

The fund holds the stocks of the S&P 500 Equal Weight Index, in which each company receives the same weight regardless of size, and adds an options-based income strategy, writing call options on the S&P 500 directly or through equity-linked notes. The option premiums supplement dividends to support monthly distributions.

The call-writing component limits upside participation in strong rallies in exchange for income. Equal weighting gives smaller S&P 500 members the same influence as the largest ones, producing a portfolio that is less concentrated in mega-cap technology companies than the standard index.