Equal-Weighted S&P 500 Tops 31 All-Time Highs in 2025, Outruns Cap-Weighted
The equal-weighted S&P 500 has recorded 31 all-time highs so far this year, beating the cap-weighted index's 24. It has rallied 12.2%, outperforming the S&P 500's 10.1% gain, and is on track for 60 new highs in 2026.
Market breadth is widening as the equal-weighted S&P 500 index notches 31 all-time highs year-to-date — the second-highest count since 2021. The index has gained 12.2% over the period, outpacing the S&P 500's 10.1% advance.
The cap-weighted S&P 500 has recorded 24 all-time highs in the same span. At the current pace, the equal-weighted index is projected to reach 60 new highs in 2026, which would be the second-highest annual total on record, trailing only the 68 highs posted in 2013.
The data suggests market leadership is expanding beyond mega-cap stocks, a shift traders are watching closely.
Source: The Kobeissi Letter