RSPD provides a unique but not radical alternative to market-cap-weighted consumer discretionary exposure in the US. Basically, the fund equal-weights all stocks in the S&P 500 Consumer Discretionary Index, whose composition is determined by an S&P Committee. Equal-weighting avoids concentration in large firms, while significantly increasing midcap exposure compared to the broad sector. RSPD's tilt toward smaller firms is limited by its universethe S&P 500which excludes small-caps. The index is rebalanced quarterly. Prior to June 7, 2023, the fund traded under the ticker RCD.
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