索引的解剖
你知道吗，估计要13美元.5 trillion in assets are indexed or benchmarked to the Standard & 普尔500综合指数，包括5美元.4万亿的指数资产?1,2
的年代&标普500指数无处不在——我们在新闻中看到它, 在报纸上读到这件事, 很有可能, see some of our own investments' performance compared against it. For an index that represents approximately 80% of the value of the U.S. equity market, it may be worthwhile to gain a better understanding of how it works.1
帽 & 标准
The index, as we know it today, was introduced in 1957 and is maintained by the Standard & 普尔指数委员会. 与普遍的看法相反, it is not comprised of the 500 largest companies in America, but is a collection of large-cap stocks representing a broad range of market sectors, 包括科技, 能源, 卫生保健, 以及日用消费品, 等.3
There are a number of criteria a company must meet to be considered for inclusion in the index. Some of these criteria include the following: it must be a U.S. company, have an unadjusted market capitalization of $14.60亿或更多, have 50% of its stock available to the public, and have four consecutive quarters of positive earnings.3
随时间变化
Another common misconception is that the index is a static one. 事实上, 公司将被移除, 不时地, for reasons that include violation of one or more of the criteria used for adding companies or because of a merger, 收购, 或者重大重组, 包括破产.
The turnover in the index's constituent companies was 3.6% in 2020 (per the most recent data available). 根据一个预测, the average tenure of companies in the index is expected to fall to 15-20 years this decade, as compared to the 30-35 year average tenure in the late 1970s.4
加减运算
对索引进行更改时, many mutual funds and exchange-traded funds that seek to replicate the index may have to sell stocks that are being removed and buy the stocks that are being added in order to track the index. Keep in mind that amounts in mutual funds and ETFs are subject to fluctuation in value and market risk. Shares, when redeemed, may be worth more or less than their original cost.5
Mutual funds and exchange-traded funds are sold only by prospectus. Please consider the charges, risks, expenses, and investment objectives carefully before investing. A prospectus containing this and other information about the investment company can be obtained from your financial professional. Read it carefully before you invest or send money.
投资者不能投资于指数. 也, index performance is not indicative of the past performance of a particular investment, and past performance does not guarantee future results. 投资 choices designed to replicate any index may not perfectly track it, and their returns will be reduced by fees and expenses.
1. US.Spindices.2022年5月31日
2. 的年代&P 500 Composite index (total return) is an unmanaged index that is generally considered representative of the U.S. 股票市场. Index performance is not indicative of the past performance of a particular investment. Past performance does not guarantee future results.
3. Investopedia.com, 2022
4. 细心,2021
5. Keep in mind that the return and principal value of stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. 请咨询法律或税务专业人士 for specific information regarding your individual situation. This material was developed and produced by 消费品套件 to provide information on a topic that may be of interest. FMG套房不隶属于命名 broker-dealer, state- or SEC-registered investment advisory firm. 所表达的意见和 所提供的资料仅供一般参考, and should not be considered a solicitation for the purchase or 出售任何证券. 版权 消费品套件.
