In this paper, by using a modular hybrid structure, a new topology for symmetric multilevel inverters (MLI) with a small number of semiconductors and low voltage stress across switches is proposed. Despite many other topologies, this topology can inherently produce negative levels and zero levels without using the H-bridge. The voltage stress across a particular switch of the proposed MLI is inversely proportional to the number of the switching of that switch in a voltage period. The proposed structure is based on two types of module, that is, the f-module and the e-module. The e-module uses a capacitive voltage divider to double the number of non-zero levels. The voltages of the capacitors are approximately balanced without complex control methods. The basic structure of the proposed topology is formed by connecting the f-module and the e-module in series with each other, and the cascaded topology is developed by cascading multiple f-modules with an e-module. To investigate the proposed topology and proving its practicability, simulation results with MATLAB/Simulink, investigation of the capacitor voltages, loss calculations and experimental results are presented. A comparative study is also performed to show the merit of the new multilevel inverter over other topologies.