SaltWire's Atlantic regional weather forecast for August 29, 2023 | SaltWire - Equal-weighted exchange-traded funds have attracted record investments in recent months as signs of an improving U.S. economy and towering valuations of megacaps push investors to look for bargains in traditional economy-linked sectors.
As a result, investing in equal-weighted ETFs that provide a more diversified approach and offer exposure to old economy-linked sectors such as energy and manufacturing are coming back in favor as investors look to broaden their exposure beyond Big Tech. "We are seeing disinflation trend persist in the U.S. alongside indicators that suggest that the Fed is likely near the end of their hiking cycle."
Shares of Apple, Microsoft, Amazon, Nvidia, Google-parent Alphabet, Tesla and Facebook-owner Meta Platforms, the so-called"Magnificent Seven", have soared this year, prompting concerns about risks from over-concentration.Invesco S&P 500 equal-weighted ETF drew $4.85 billion inflows in June, the most since the fund was launched in 2003, followed by $3.53 billion in July, the second highest on record.
The Direxion Nasdaq 100 equal-weighted index shares fund, which has over $800 million in assets under management, has seen inflows of $213.4 million from June to Aug. 25.
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