S&P 600
The S&P SmallCap 600 Index (S&P 600) is a stock market index established by Standard & Poor's. It covers roughly the small-cap range of US stocks, using a capitalization-weighted index. To be included in the index, a stock must have a total market capitalization that ranges from $600 million to $2.4 billion at the time of addition to the index.[1] As of 31 January 2020[update], the index's median market cap was $1.13 billion and covered roughly three percent of the total US stock market. These smallcap stocks cover a narrower range of capitalization than the companies covered by the Russell 2000 Smallcap index which range from $169 million to $4 billion.[2] The market valuation for companies in the SmallCap Index and other indices change over time with inflation and the growth of publicly traded companies. The S&P 400 MidCap index combined with the SmallCap 600 compose the S&P 1000, and the S&P 1000 plus the S&P 500 compose the S&P 1500. The index was launched on October 28, 1994.[3]
Investing
The following exchange-traded funds (ETFs) attempt to track the performance of the index:
Index Fund
- iShares Core S&P Small-Cap ETF (NYSE Arca: IJR)
- Vanguard S&P Small-Cap 600 ETF (NYSE Arca: VIOO)
- SPDR S&P 600 Small Cap ETF (NYSE Arca: SLY)
Growth Index Fund
- iShares S&P Small-Cap 600 Growth ETF (NYSE Arca: IJT)
- Vanguard S&P Small-Cap 600 Growth ETF (NYSE Arca: VIOG)
- SPDR S&P 600 Small Cap Growth ETF (NYSE Arca: SLYG)
Value Index Fund
- iShares S&P Small-Cap 600 Value ETF (NYSE Arca: IJS)
- Vanguard S&P Small-Cap 600 Value ETF (NYSE Arca: VIOV)
- SPDR S&P 600 Small Cap Value ETF (NYSE Arca: SLYV)
It can be compared to the Russell 2000 Index.[4][5][6]
Versions
The "S&P 600" generally quoted is a price return index; there is also a total return version 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.
Annual returns
| Year | Price return | Total return |
|---|---|---|
| 2019 | 20.86% | 22.78% |
| 2018 | −9.75% | −8.48% |
| 2017 | 11.73% | 13.23% |
| 2016 | 24.75% | 26.56% |
| 2015 | −3.36% | −1.97% |
| 2014 | 4.44% | 5.76% |
| 2013 | 39.65% | 41.31% |
| 2012 | 14.81% | 16.33% |
| 2011 | −0.16% | 1.02% |
| 2010 | 24.98% | 26.31% |
| 2009 | 23.78% | 25.57% |
| 2008 | −31.99% | −31.07% |
| 2007 | −1.22% | −0.30% |
| 2006 | 14.07% | 15.12% |
| 2005 | 6.65% | 7.68% |
| 2004 | 21.59% | 22.65% |
| 2003 | 38.79% | |
| 2002 | −14.63% | |
| 2001 | 6.54% | |
| 2000 | 11.80% | |
| 1999 | 12.40% | |
| 1998 | −1.31% | |
| 1997 | 25.58% | |
| 1996 | 21.32% | |
| 1995 | 29.96% | |
| 1994 | −4.77% |
See also
Notes
- ^ S&P U.S. Indices Methodology, Jan. 2015, McGraw Hill
- ^ "Russell Investments United States - Multi-Asset Solutions". www.russell.com.
- ^ "S&P SmallCap 600 -- Overview". Standard and Poors. Retrieved 2012-08-15.
- ^ "Small Caps: S&P 600 Vs. Russell 2000". yahoo.com.
- ^ http://www.indexuniverse.com/sections/research/6065-a-tale-of-two-benchmarks.html A Tale Of Two Benchmarks
- ^ "Index Differences Crucial in Evaluating Small-Cap ETFs". yahoo.com.
- ^ Standard & Poors white paper, A Tale of Two Benchmarks
- ^ S&P SmallCap 600 Factsheet
External links
- Yahoo Finance page for ^SP600
- Bloomberg page for SML:IND
- Standard & Poor's page for S&P SmallCap 600 Index
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