My question is this: for ETF or mutual fund such as VTSAX, VTI, VOO, SPY, or even QQQ, a lot of time, it has the top 10 holdings such as Apple or Microsoft, and it is because these stocks have grown up the most over the years.
And I don't think the fund is going to "sell the winners and buy the losers" so that it is "evenly distributed" among all stocks in the fund.
So, is it true that a fund that has an inception date of 2011 will be different from one that has an inception of today, or in 2000 or 1990?
For example, if one has an inception of today, it really would buy an equal dollar amount of all stocks in the fund, so they key point is, not all index funds are the same, even if they both basically have S&P 500 stocks, because one could be holding 6% in Apple stocks, while one is 0.2% (because 1 / 500 is 0.2%). And if you hold 6% of Apple vs 0.2% of Apple, obviously your return for the next 5 or 10 years could be quite different.