The iShares S&P 500 Equal Weight ETF invests in all 500 major U.S. companies included in the S&P 500 Index, giving each stock an equal share in the portfolio. This means the fund maintains a balanced exposure across various leading industries, with a particular emphasis on smaller market capitalization companies within the index. By equally weighting each holding, the ETF ensures diversified participation and reduces reliance on the largest companies, fostering a more evenly distributed investment across the top U.S. businesses.