Other than ETFs, what other equities should look into if I want to invest with less risk but still have reasonable gains?

I believe funds would be your best option if you are looking of equities. It also gives you adequate diversification at a lower cost. However, if you considering down risking but still want equities, you probably want to get a global diversified fund such as VT, if not perhaps adding in bond / bond fund into your allocation. And always take note is risk and reward come hand in hand so you gotta manage your expectations to a certain point.