An equal-weight S&P fund has been outperforming the traditional S&P 500, with some reports suggesting it has done so by a significant margin. The equal-weight fund's performance is being compared to that of the cap-weighted S&P 500, with some outlets noting its ability to beat the market without relying on the largest mega-cap stocks. The duration of the equal-weight fund's outperformance is uncertain, with some questioning how long it can continue to surpass the traditional S&P 500.