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The Russell 2000 has little to no overlap with the S&P 500, and has a market-cap-weighted ETF with options (IWM), but (as noted by Flux) no longer has an equal-weighted ETF. If you relax the requirement of 2000 or more stocks, the S&P MidCap 400 and S&P SmallCap 600 have equal-weighted ETFs (EWMC and EWSC), but they do not appear to have options. ...

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