S&P 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. The index serves as a barometer for the U.S. mid-cap equities sector and is the most widely followed mid-cap index. To be included in the index, a stock must have a total market capitalization that ranges from $2.4 billion to $8.2 billion at the time of addition to the index.[3] As of 31 January 2020, the median market cap was $4.26 billion with the market cap of the largest company in the index at nearly $13.3 billion and the smallest company at $1.0 billion. The index's market cap covers nearly 7 percent of the total US stock market. The index was launched on June 19, 1991.

S&P 400
OperatorS&P Dow Jones Indices[1]
ExchangesNYSE, NASDAQ, IEX
Constituents400
TypeMid-cap[1]
Market capUS$1.87 trillion
(as of January 31, 2020)
Weighting methodFree-float capitalization-weighted[2]
Related indices
Websiteus.spindices.com/indices/equity/sp-400

It has set a series of all-time highs since the Federal Reserve announced its third round of recent quantitative easing in mid-September 2012. At the weekly and monthly close of November 30, 2012, the index settled at the 1,000 point mark, and it has continued to rise in early 2013, setting new records above 1,200 by mid-May.

Record values
Category All-Time Highs
Closing1,995.23Friday, January 26, 2018
Intraday2,001.48Wednesday, January 24, 2018

Investing

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.[7]

Versions

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
YearPrice returnTotal returnNet total return
201924.05%26.20%25.55%
2018−12.50%−11.08%−11.51%
201714.45%16.24%15.70%
201618.73%20.74%20.13%
2015−3.71%−2.18%−2.64%
20148.19%9.77%9.29%
201331.57%33.50%32.92%
201216.07%17.88%17.33%
2011−3.10%−1.73%−2.14%
201024.85%26.64%26.10%
200935.00%37.38%36.66%
2008−37.28%−36.23%−36.55%
20076.69%7.98%N/A
20068.99%10.32%N/A
200511.27%12.56%N/A
200415.16%16.48%N/A
Sources:[8][9]

Components
Main article: List of S&P 400 companies

See also

References
  1. "S&P 400 Overview". S&P/Dow Jones Indices LLC. Retrieved January 20, 2013.
  2. "S&P U.S. Indices Methodology" (PDF). Standard & Poor's. Retrieved 16 December 2017.
  3. "U.S. Market Cap Guidelines Updated and Constituent Changes Announced for the S&P SmallCap 600" (PDF). S & P Dow Jones Indices. July 16, 2014. Retrieved 2015-11-28.
  4. MDY - SPDR S&P MidCap 400 ETF State Street Global Advisors (SSgA)
  5. "Vanguard S&P Mid-Cap 400 ETF".
  6. iShares Core S&P Mid-Cap ETF (IJH): Overview iShares
  7. Mid-Cap ETFs Find a Sweet Spot Yahoo Finance
  8. S&P MidCap 400 Factsheet
  9. https://us.spindices.com/indices/equity/sp-400



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