Swiss Performance Index

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Swiss Performance Index
Foundation1 June 1987 (publication 22 August)
OperatorSIX Swiss Exchange
ExchangesSIX Swiss Exchange
Trading symbolSXGE
Constituents215 (as of April 2019) [1]
TypeAll caps
Market capCHF 1,553 billion (full, end 2017)[2]
Weighting methodMarket-value-weighted
Related indicesSMI, SPI 20, SPI Extra
Websitesix-group.com
ISINCH0009987501
RIC.SSHI
Bloomberg tickerSPI:IND
Structure of the SPI-Family

The Swiss Performance Index (SPI) is Switzerland's most closely followed performance index. It is a dividend-corrected index that includes almost all SIX Swiss Exchange-traded equity securities of companies domiciled in Switzerland or the Principality of Liechtenstein. [1]

Components[edit]

The underlying share universe includes approximately 230 equity issues. For a company's shares to be included, the company must be domiciled in Switzerland and the shares must have a free float equal to or greater than 20%. In 1998, all investment companies were taken out of the SPI Family and put into the specially designed Investment Index. [2]

Below is the list of the 215 SPI shares as of April 2019. Companies marked with 1 are primarily listed in Switzerland, but have their headquarters outside Switzerland and were included in the underlying share universe upon request. Companies marked with 2 have two kinds of shares and thus appear twice in the SPI.

Classification[edit]

SPI components are classified by size, by sector as well as by security category. [3]

By size[edit]

There are three size categories of SPI components: large-cap, mid-cap and small-cap. Three SPI subindices reflect these sizes, respectively the SPI Large, the SPI Middle and the SPI Small. Two more subindices cover Large+Middle as well as Middle+Small. [3]

The SPI 20 is another SPI subindex that contains the same companies as in the Swiss Market Index. It mostly overlaps with the SPI Large, but does not fully coincide because of the rules specific to the SMI[2]. For this reason, another subindex, the SPI Extra, includes all SPI companies not in the SPI 20.

By sector[edit]

The SPI is divided into sectors on the basis of economic activity. This classification is based on the Industry Classification Benchmark ICB from Dow Jones and FTSE, which simplifies international performance comparisons significantly. [3]

By security category[edit]

SPI Stocks are also grouped by security category: registered shares, bearer share, participation certificates. [3]

Methodology[edit]

Paid prices are taken into account in calculating the SPI as a whole. If no paid prices are available, the index is calculated on the basis of bid prices. [4] The index is recalculated and published every three minutes. On 1 June 1987, the SPI was standardised at 1000 points. [1]

External links[edit]

Notes and references[edit]

  1. ^ a b c "SPI - The Index of Swiss Shares". SIX Swiss Exchange. Retrieved 13 April 2019.
  2. ^ a b c "Swiss Performance Index (SPI) Family – Factsheet" (PDF). SIX Swiss Exchange. Retrieved 13 April 2019.
  3. ^ a b c d "SPI Sectors". SIX Swiss Exchange. Retrieved 14 April 2019.
  4. ^ "Methodology Rulebook Governing Equity and Real Estate Indices" (PDF). SIX Swiss Exchange. Retrieved 14 April 2019.