The following criteria are used by
S&P Dow Jones Indices to determine eligibility for inclusion. The company publishes its full methodology details on its website. •
Universe: All constituents from the
S&P 500,
S&P MidCap 400, and
S&P SmallCap 600 are included in the index. •
Eligibility Market Cap: Companies with unadjusted market cap of US$22.7 billion or greater for the S&P 500, US$8.0 billion to US$22.7 billion for the S&P MidCap 400, and US$1.2 billion to US$8.0 billion for the S&P SmallCap 600. Companies must also have a float-adjusted market capitalization that is at least 50% of the respective index's unadjusted minimum market cap threshold. •
Financial Viability: Companies must have a positive as-reported earnings over the most recent quarter, as well as over the most recent four quarters (summed together). •
Adequate Liquidity and Reasonable Price: Using composite pricing and volume, the ratio of annual dollar value traded (defined as average closing price over the period multiplied by historical volume) to float-adjusted market capitalization should be at least 0.75, and the stock should trade a minimum of 250,000 shares in each of the six months leading up to the evaluation date. •
Sector Representation: Sector balance, as measured by a comparison of each
GICS© sector's weight in an index with its weight in the S&P Total Market Index, in the relevant market capitalization range, is also considered in the selection of companies for the indices. •
Company Type: All eligible U.S. common equities listed on eligible U.S. exchanges can be included.
REITs are also eligible for inclusion.
Closed-end funds,
ETFs,
ADRs,
ADS, and certain other types of securities are ineligible for inclusion. The index rebalances quarterly in March, June, September, and December. ==Annual returns==