How concentrated is S&P 500 Equal Weight?

The top ten hold 3.2% of the index; Intel Corp. alone holds 0.4%.

When was S&P 500 Equal Weight most concentrated?

Peak top-ten weight was 3.2% in Apr 2026.

Does concentration make the index riskier?

It means less diversification than the member count implies, not a timing signal.

Market proxy RSP$209.731D +0.35%as of market close, Oct 2, 2026

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Constituents & weights Stock performance Heatmap Sector weights Concentration

S&P 500 Equal Weight concentration (2026)

The ten biggest companies in S&P 500 Equal Weight hold 3.2% of it as of Apr 2026 — up from 2.4% in Oct 2019. The top five hold 1.7%, and Intel Corp. alone holds 0.4%. Weights are the index's own, from the tracking fund's quarterly SEC filings, so they reconcile with the constituents list.

Top 10 weight

3.2%

from 2.4% in Oct 2019

Top 5 weight

1.7%

of the whole index

Largest member

0.4%

Intel Corp. · Apr 2026 filing

Peak top 10

3.2%

Apr 2026

Each band is a rank slot, not a fixed company — band 1 is whoever is biggest in that filing. Hover a band to see who holds that slot today; switch between the top 1, 3, 5 and 10.

Largestcompanies vs the rest

#1 Intel Corp. · 0.38%#2 Seagate Technology Holdings PLC · 0.34%#3 Advanced Micro Devices, Inc. · 0.33%#4 ON Semiconductor Corp. · 0.33%#5 Sandisk Corp. · 0.32%#6 Western Digital Corp. · 0.31%#7 Ciena Corp. · 0.30%#8 Monolithic Power Systems, Inc. · 0.29%#9 Centene Corp. · 0.29%#10 NXP Semiconductors N.V. · 0.28%25%50%75%2020202220242026

Share of S&P 500 Equal Weight by index weight, as filed by the tracking fund each quarter.

Who is in the top ten now, and who was then#

#	Apr 2026	Weight	Oct 2019	Weight
1	Intel Corp.	0.38%	Align Technology, Inc.	0.28%
2	Seagate Technology Holdings PLC	0.34%	Tiffany & Co.	0.25%
3	Advanced Micro Devices, Inc.	0.33%	Biogen Inc.	0.25%
4	ON Semiconductor Corp.	0.33%	Leggett & Platt, Inc.	0.24%
5	Sandisk Corp.	0.32%	Marathon Petroleum Corp.	0.24%
6	Western Digital Corp.	0.31%	Centene Corp.	0.23%
7	Ciena Corp.	0.30%	Bristol-Myers Squibb Co.	0.23%
8	Monolithic Power Systems, Inc.	0.29%	Lam Research Corp.	0.23%
9	Centene Corp.	0.29%	CDW Corp.	0.23%
10	NXP Semiconductors N.V.	0.28%	Mohawk Industries, Inc.	0.23%

Into the top ten since Oct 2019: Intel Corp., Seagate Technology Holdings PLC, Advanced Micro Devices, Inc., ON Semiconductor Corp., Sandisk Corp., Western Digital Corp., Ciena Corp., Monolithic Power Systems, Inc., NXP Semiconductors N.V.. Out of it: Align Technology, Inc., Tiffany & Co., Biogen Inc., Leggett & Platt, Inc., Marathon Petroleum Corp., Bristol-Myers Squibb Co., Lam Research Corp., CDW Corp., Mohawk Industries, Inc.. The largest member has changed too — Align Technology, Inc. then, Intel Corp. now. Arrivals and departures are matched by ticker, so a company that renamed or re-listed in between (Facebook to Meta) can show up on both lists.

FAQ#

How concentrated is S&P 500 Equal Weight?: The ten largest companies hold 3.2% of the index as of Apr 2026, and the largest alone (Intel Corp.) holds 0.4%. In Oct 2019 the top ten held 2.4%, so the index has become markedly more top-heavy over that span.
When was S&P 500 Equal Weight most concentrated?: On the filings we hold, the top ten peaked at 3.2% in Apr 2026 — the most recent filing, so it is at its most concentrated on record here. Our weights run from Oct 2019 onward.
Does concentration make the index riskier?: It makes it less diversified than the member count suggests: when ten names are a third of the index, the index's return is largely their return, and a sector shock that hits them hits everything. It is not a market-timing signal — concentration has risen for long stretches while the index compounded — but it does mean a cap-weighted position is a much more concentrated bet than "500 companies" sounds.

Weights are as filed by the tracking fund on Form N-PORT each quarter — the index's own weights, not a market-cap approximation — and a company's share classes are combined into one row, so “top ten” means ten companies. Our filings begin Oct 2019. See also the sector mix — the other way an index can be less diversified than its member count suggests. Not investment advice.

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