Rydex Global Advisors on April 30 will launch an equal-weighted S&P...

Rydex Global Advisors on April 30 will launch an equal-weighted S&P 500 exchange-traded fund, its first ETF, targeting defined benefit plan sponsors, said Anna Haglund, Rydex communications manager. The Rydex S&P Equal Weight ETF will be listed on the American Stock Exchange. The equal weighting — 0.2% for each of the 500 stocks — "eliminates the bias toward large companies and provides the opportunity for outperformance with lower sector volatility,” according to Rydex.