The S&P500 represents 87% of the US market (~$54 of 63T). Inflows to S&P500 funds are evenly distributed among that 87% (by market cap). I think concerns abou

The S&P500 represents 87% of the US market (~$54 of 63T). Inflows to S&P500 funds are evenly distributed among that 87% (by market cap). I think concerns about market concentration are usually expressed about, e.g., the Mag 7 being 31% of the US market (~$19 / 63T) moreso than the next biggest 493 stocks. S&P 500 inflows don't overweight the Mag 7 relative to any other S&P 500 component.