S&P 600

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

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 American stocks, using a capitalization-weighted index.

To be included in the index, a stock must have a total market capitalization that ranges from $850 million to $3.6 billion.[1] 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.[1]

As of 31 December 2021, the index's median market cap was $1.58 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] and its ticker symbol is either SML or ^SML.

Record values[edit]

Category All-Time Highs
Closing 1,466.02 Monday, November 8, 2021
Intraday 1,477.45 Monday, November 8, 2021

Investing[edit]

The following exchange-traded funds (ETFs) attempt to track the performance of the index:

Index Fund

Growth Index Fund

Value Index Fund

It can be compared to the Russell 2000 Index.[4][5][6]

Versions[edit]

The "S&P 600" 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, while the net total return version takes into account dividend withholding taxes for foreign investors.

Annual returns[edit]

S&P 600 Index annual returns[7][8]
Year Price return Total return
2021 25.27% 26.82%
2020 9.57% 11.29%
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%

Components[edit]

See also[edit]

Notes[edit]

  1. ^ a b "S&P Dow Jones Indices Announces Update to S&P Composite 1500 Market Cap Guidelines" (PDF). March 4, 2022. Retrieved March 7, 2022.
  2. ^ "Russell Investments United States - Multi-Asset Solutions". www.russell.com.
  3. ^ "S&P SmallCap 600 -- Overview". Standard and Poors. Retrieved 2012-08-15.
  4. ^ "Small Caps: S&P 600 Vs. Russell 2000". yahoo.com.
  5. ^ http://www.indexuniverse.com/sections/research/6065-a-tale-of-two-benchmarks.html A Tale Of Two Benchmarks
  6. ^ "Index Differences Crucial in Evaluating Small-Cap ETFs". yahoo.com.
  7. ^ Standard & Poors white paper, A Tale of Two Benchmarks
  8. ^ S&P SmallCap 600 Factsheet

External links[edit]