To provide a color wheel with a balancing groove for securely holding a balancing medium.

The color wheel includes a carrier having a central axis about which it is rotated. An external surface and a periphery rotate along the central axis; a color filter plate shares the same central axis with the carrier, wherein an annular groove is disposed on the external surface of the carrier. The groove is shaped, for example, in a wedge so that once a balancing substance such as epoxy is added into the annular groove to balance the color wheel, it becomes lodged therein after curing as the opening is smaller than the cured epoxy.