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S&P 400

From Wikipedia, the free encyclopedia
S&P 400
FoundationJune 19, 1991; 33 years ago (1991-06-19)
OperatorS&P Dow Jones Indices[1]
Exchanges
Trading symbol
  • MID
  • ^MID
  • SP400
  • ^SP400
Constituents401
TypeMid-cap[1]
Market capUS$2.7 trillion
(as of December 29, 2023)[2]
Weighting methodFree-float capitalization-weighted[3]
Related indices
List
Websitespglobal.com/sp-400

The S&P MidCap 400 Index, more commonly known as the S&P 400, is a stock market index from S&P Dow Jones Indices.

Overview

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The index serves as a gauge for the U.S. mid-cap equities sector and is the most widely followed mid-cap index. It is part of the S&P 1500, which also includes the S&P 500 for larger U.S. based companies, and the S&P 600 for smaller companies, though all three indices include a handful of foreign stocks that trade on the U.S. stock exchanges.

To be included in the index, a stock must have a total market capitalization that ranges from $6.7 billion to $18.0 billion.[4] These market cap eligibility criteria are for addition to an index, not for continued membership. As a result, an index constituent that appears to violate criteria for addition to that index is not removed unless ongoing conditions warrant an index change.[4]

Additionally, same as S&P 500 and S&P 600, there is a financial viability requirement. Companies must have positive as-reported earnings over the most recent quarter, as well as over the most recent four quarters (summed together).

As of 29 December 2023, the median market cap was $6.3 billion with the market cap of the largest company in the index at nearly $17.9 billion and the smallest company at $1.7 billion. The index's market cap covers nearly 7 percent of the total US stock market.

Record values

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Category All-Time Highs
Closing 3,124.92 Thursday, September 19, 2024
Intraday 3,130.73 Thursday, September 19, 2024

Investing

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The following exchange-traded funds (ETFs) attempt to track this index and sub-indexes:

Index Fund

Growth Index Fund

Value Index Fund

The SPDR fund was first, but the iShares fund is bigger; also they have different structures.[8]

Versions

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The "S&P 400" generally quoted is a price return index; there are also "total return" and "net total return" versions of the index. These versions differ in how dividends are accounted for. The price return version does not account for dividends; it only captures the changes in the prices of the index components. The total return version reflects the effects of dividend reinvestment. Finally, the net total return version reflects the effects of dividend reinvestment after the deduction of withholding tax.

Annual returns

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Year Price return Total return Net total return
2023 14.45% 16.44% 15.84%
2022 −14.48% −13.06% −13.49%
2021 23.21% 24.76% 24.29%
2020 11.81% 13.66% 13.10%
2019 24.05% 26.20% 25.55%
2018 −12.50% −11.08% −11.51%
2017 14.45% 16.24% 15.70%
2016 18.73% 20.74% 20.13%
2015 −3.71% −2.18% −2.64%
2014 8.19% 9.77% 9.29%
2013 31.57% 33.50% 32.92%
2012 16.07% 17.88% 17.33%
2011 −3.10% −1.73% −2.14%
2010 24.85% 26.64% 26.10%
2009 35.00% 37.38% 36.66%
2008 −37.28% −36.23% −36.55%
2007 6.69% 7.98% N/A
2006 8.99% 10.32% N/A
2005 11.27% 12.56% N/A
2004 15.16% 16.48% N/A
Sources:[9][10]

See also

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References

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  1. ^ a b "S&P 400 Overview". S&P/Dow Jones Indices LLC. Retrieved January 20, 2013.
  2. ^ "S&P 400® Factsheet" (PDF). S&P Global. p. 5.
  3. ^ "S&P U.S. Indices Methodology" (PDF). Standard & Poor's. Retrieved 16 December 2017.
  4. ^ a b "S&P Dow Jones Indices Announces Update to S&P Composite 1500 Market Cap Guidelines" (PDF). S&P Global. April 1, 2024. Retrieved April 8, 2024.
  5. ^ MDY - SPDR S&P MidCap 400 ETF State Street Global Advisors (SSgA)
  6. ^ "Vanguard S&P Mid-Cap 400 ETF".
  7. ^ iShares Core S&P Mid-Cap ETF (IJH): Overview iShares
  8. ^ Mid-Cap ETFs Find a Sweet Spot Yahoo Finance
  9. ^ S&P MidCap 400 Factsheet
  10. ^ S&P MidCap 400® | S&P Dow Jones Indices