INDEX (S&P Equal Weight)

This month's commentary identifies INDEX as the entry into S&P 500 Equal Weight mutual fund. I have been interested in this area for some time but looking for an option less expensive than the INVESCO mutual fund or Guggenheim EFT. INDEX OER is .30 which is less than its competitors, however, it charges a $25.00 annual maintenance fee for small accounts (defined as less than $25,000) and the board of director (trustees) have zero dollars invested in the fund. INDEX website shows approx. $3 [million] total assets [Morningstar reports $4 million in the fund, David.]; the founder of the fund has 10k-50k invested. Just sharing information.