The strategy is not attempting to approximate the S&P 500, it is seeking to manage your exposure to these industries. The algo author wrote a detailed explanat

The strategy is not attempting to approximate the S&P 500, it is seeking to manage your exposure to these industries. The algo author wrote a detailed explanation of the outperformance of the S&P 500 here (source code included): https://www.quantopian.com/posts/equal-weight-all-sector-strategy-vs-spy https://www.quantopian.com/posts/equal-weight-all-sector-str...