##  [# Daily ETF Watch: RSP To Absorb R1000 Fund](/sections/daily-etf-watch/daily-etf-watch-rsp-absorb-r1000-fund) 

 

# Daily ETF Watch: RSP To Absorb R1000 Fund

 

 

Guggenheim will merge its equal-weighted Russell 1000 ETF into its equal-weighted S&P 500 ETF.



 

 

 

 

 [![HeatherBell_green_bg](/sites/default/files/styles/author_image_icon/public/2023-03/heather2.png?itok=5J9vBlda)](/contributors/heather-bell) 

[By Heather Bell](/contributors/heather-bell)

 Nov 17, 2015

 Edited by: Heather Bell

 

 

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In an ETF industry first, [Guggenheim is merging one of its funds](https://www.sec.gov/Archives/edgar/data/1208211/000162828015008707/ret111215497russell1000.htm) into another of its funds. The $9.6 billion [Guggenheim S&amp;P 500 Equal Weight ETF (RSP | A-80)](https://www.etf.com/rsp) will absorb the $70 million [Guggenheim Russell 1000 Equal Weight ETF (EWRI | B-67)](https://www.etf.com/EWRI) as of Jan. 26, 2016.

Both funds focus on the large-cap segment and use an equal-weighting strategy. EWRI launched in late 2010, and while it has a perfectly respectable asset level, it’s not a runaway success when compared with RSP.

In conjunction with this move, [another filing indicates](https://www.sec.gov/Archives/edgar/data/1208211/000162828015008706/ret111215497top50midcap2000.htm) that the $129 million [Guggenheim Russell Midcap Equal Weight ETF (EWRM | B-81)](https://www.etf.com/ewrm) and the $43 million [Guggenheim Russell 2000 Equal Weight ETF (EWRS | B-75)](https://www.etf.com/ewrs) will adopt new tickers and indexes. From Jan. 26 on, they will track equal-weighted versions of the S&amp;P MidCap 400 and the S&amp;P SmallCap 600 indexes as the Guggenheim S&amp;P MidCap 400 Equal Weight ETF (EWMC) and the Guggenheim S&amp;P SmallCap 600 Equal Weight ETF (EWSC), respectively.

Guggenheim also [outlined its plans](https://www.sec.gov/Archives/edgar/data/1208211/000162828015008706/ret111215497top50midcap2000.htm) for the $528 million [Guggenheim Russell Top 50 Mega Cap ETF (XLG | A-94).](https://www.etf.com/xlg) The ETF will get a new index as of Jan. 26, dropping the Russell Top 50 Mega Cap Index in favor of the S&amp;P 500 Top 50 Index. The current index tracks the largest 50 stocks in the Russell 1000 by market cap; the new one will represent the largest 50 stocks in the S&amp;P 500.

The fund will be renamed the Guggenheim S&amp;P 500 Top 50 ETF and will keep its current ticker.

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*Contact Heather Bell at* [*hbell@etf.com*](mailto:hbell@etf.com)*.*



 

 

 [ Heather Bell ](/contributors/heather-bell) 

 

 

  Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a…   [View Bio](/contributors/heather-bell)

 



 

 


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