How the equal weight vs Nasdaq 100 is built · Indices · The Inference · The Inference
How the equal weight vs Nasdaq 100 is built
Methodology version 1.0. List date Nov 9, 2026.
This index
Index = RSP's closing price ÷ QQQ's closing price on each trading day both funds closed, × 100 ÷ the same ratio on 1 May 2003, RSP's first day. RSP tracks the S&P 500 Equal Weight Index, which holds every S&P 500 company at the same weight; QQQ tracks the Nasdaq 100, weighted by size.
Rising means the average S&P 500 company is doing better than the Nasdaq 100's largest companies; falling means the largest are pulling ahead. Only the direction and size of moves carry meaning: the level is set by the base day.
Both prices are adjusted for share splits and exclude dividends. RSP pays a higher dividend than QQQ, so over long spans the price ratio slightly understates equal weight's total return.
14-day RSI: Wilder's relative strength index of the daily ratio, from the average daily rise and fall over 14 trading days, smoothed as Wilder specified. It runs from 0 to 100; above 70 is conventionally read as overbought and below 30 as oversold.