IWM allocates 9.6% to mid-caps, 60.6% to small-caps and 29.8% to micro-caps, compared to EWRS’s mid-cap 3.4%, small-cap 35.6% and micro-cap 61%. [Small-Caps Getting Pricey]

“Indeed, investors who may eschew liquidity and volatility in favor of enhanced upside potential could usually garner more upside through equal weighting; one could choose funds like Guggenheim (Rydex) Equal Weight Technology (NYSEArca: RYT) over SPDR Select Technology (NYSEArca: XLK) and/or Guggenheim (Rydex) Equal Weight Materials (NYSEArca: RTM) as opposed to SPDR Select Sector Materials (NYSEArca: XLB),” Gordon noted.

For more information on equal-weight funds, visit our equal-weight ETFs category.

Max Chen contributed to this article.

Full disclosure: Tom Lydon’s clients own RSP, SPY and IWM.