Why Does Betashares S&P 500 Equal Weight ETF (ASX:QUS) Hold 503 Companies at Similar Weights?

Sonal Goyal

28 October 2026 12:53 AM AEDT

Why Does Betashares S&P 500 Equal Weight ETF (ASX:QUS) Hold 503 Companies at Similar Weights?

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Key Highlights

Betashares S&P 500 Equal Weight ETF (ASX:QUS) employs a passive approach designed to track the S&P 500 Equal Weighted Index, before fees and expenses.
The fund holds 503 companies, and its ten largest holdings together account for only 3.18% of the portfolio.
Fund size is $1.46 billion and the management fee is 0.29%.

Betashares S&P 500 Equal Weight ETF (ASX:QUS) is an exchange traded fund that employs a passive management approach designed to track the performance of the S&P 500 Equal Weighted Index, before fees and expenses. Admitted to the ASX on 19 December 2014, the fund has a fund size of $1.46 billion and a management fee of 0.29%. This article covers how equal weighting shapes the portfolio.

Exposure and Investment Approach

An equal-weighted index gives each constituent a similar weight rather than weighting by company size. QUS is categorised as Equity North America and holds 503 companies, with a turnover ratio of 4.06%.

Portfolio Composition

The fund holds 503 holdings. Its largest positions are Moderna, Inc. (0.58%), Veeva Systems Inc. (0.33%), Zebra Technologies Corp (0.31%), Charles River Laboratories International, Inc. (0.29%), DoorDash Inc (0.28%), and the top ten holdings together account for 3.18% of the portfolio.

The remaining top ten positions are Salesforce, Inc. (0.28%), Expedia Group, Inc. (0.27%), Global Payments Inc (0.27%), Palo Alto Networks, Inc. (0.27%), IQVIA Holdings Inc (0.26%).

By sector, the portfolio is allocated as follows: Technology 17.36%, Industrials 14.66%, Financial Services 14.59%, Healthcare 13.12%, Consumer Cyclical 10.56%, Consumer Defensive 6.38%, Utilities 5.57%, Real Estate 5.49%, Energy 4.36%, Basic Materials 3.99%.

By size, 87.43% of the portfolio is in companies above $1 billion and 12.57% between $500 million and $1 billion. Geographic exposure is United States (98.78%), Switzerland (0.42%), the United Kingdom (0.23%), Ireland (0.23%), China (0.19%) and Mexico (0.15%).

Key Features to Understand

The largest holdings are Moderna (0.58%), Veeva Systems (0.33%), Zebra Technologies (0.31%) and Charles River Laboratories (0.29%), and the top ten account for just 3.18%. Sector weights are more evenly spread than in size-weighted funds: technology is 17.36%, industrials 14.66%, financial services 14.59% and healthcare 13.12%. Market capitalisation is 87.43% above $1 billion and 12.57% between $500 million and $1 billion.

Distribution Details

The fund's most recent recorded distribution was a final distribution of $1.110 per unit, with an ex-date of 1 July 2026, a record date of 2 July 2026 and payment on 16 July 2026.

Fund Details at a Glance

Fund name: Betashares S&P 500 Equal Weight ETF (ASX:QUS)
Issuer: Betashares
Category: Equity North America
Benchmark: S&P 500 Equal Weighted TR USD
Admitted to the ASX: 19 December 2014
Fund size: $1.46 billion
Management fee: 0.29%
ISIN: AU000000QUS9

Recent Announcements

Recent announcements include an annual report on 25 September 2026, units on issue disclosures for August and September 2026 and estimated annual distribution component information on 8 July 2026.

In Summary

Betashares S&P 500 Equal Weight ETF holds 503 companies at similar weights, producing a more even sector mix than size-weighted funds, with a 0.29% management fee. Its most recent distribution was a final distribution of $1.110 per unit, paid on 16 July 2026.

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