Will small-cap stocks in the US stock market experience a surge? Equal-weight ETFs of the S&P 500 and the S&P 500 Index hit a new high since September 2, 2025

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On February 4, 2026, the S&P 500 Equal Weight ETF (RSP) reached 200.30, the S&P 500 Index (SPX) reached 6,882.72, and the RSP/SPX ratio hit 0.0291, marking a new high since September 2, 2025.

(Data source: Tonghuashun (300033) iFinD)

RSP and SPX have equal weightings in holdings, but the former has significant exposure to small-cap stocks, while the latter has a higher proportion of large-cap stocks or tech giants. When the RSP/SPX ratio breaks upward, it to some extent indicates recent strength in small-cap stocks. Investors may consider opportunities related to RSP or U.S. small-cap stocks.

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