Invesco is adding more ESG-flavored versions of broad market index ETFs, this time reworking an equal-weighted version of the S&P 500.
The Invesco ESG S&P 500 Equal Weight ETF (RSPE) launched on the NYSE Arca Wednesday. Its expense ratio of 0.20% is the same as its sibling fund, the $31.4 billion Invesco S&P 500 Equal Weight ETF (RSP).
RSPE follows the same equal-weighted S&P 500 index as RSP, but applies a screen to remove companies involved in fossil fuels, firearms, alcohol, tobacco, gambling, palm oil and nuclear power generation.
The new fund is launching about a month and a half after Invesco debuted the Invesco ESG Nasdaq 100 ETF (QQMG) and the Invesco ESG Nasdaq Next Gen 100 ETF (QQJG) as part of an effort to roll out ESG versions of core offerings.
RSPE follows the broader trend of major ETF issuers launching ESG-screened versions of their most popular core offerings. iShares launched versions of its investment-grade corporate debt and low-volatility strategies earlier this month in an ESG ETF format, despite those two funds being among the largest losers in absolute assets year-to-date.