The S&P 500 equal-weighted index, to be frank, has been a rather lackluster way to own the market in recent years. During the last half-decade, it's up 63% while the tech-concentrated cap-weighted index you hear about more often is up 93%. In the last 12 months, the equal-weighted index has risen just 2% while the cap-weighted index is up 12%.The underperformance has a simple explanation. Tech and tech-adjacent stocks have dominated the market, and since they're the largest by market capitalization, they c ...