The S&P 500 has a concentration problem. At the start of 2026, the top seven stocks account for roughly a third of the market-cap weighted index, leaving investors heavily exposed to a handful of mega-cap technology companies. Invesco S&P 100 Equal Weight ETF ( NYSEARCA:EQWL) offers a different approach: it takes the 100 largest companies in the S&P 500 and gives each equal weight, capping even giants like Apple Inc. ( NASDAQ:AAPL) and Microsoft Corporation ( NASDAQ:MSFT) at roughly 1% of the portfolio.