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 gauge for the U.S. mid-cap equities sector and is the most widely followed mid-cap index.

S&P 400
FoundationJune 19, 1991; 31 years ago (1991-06-19)
OperatorS&P Dow Jones Indices[1]
Exchanges
Trading symbol^MID
Constituents401
TypeMid-cap[1]
Market capUS$2.26 trillion
(as of April 29, 2022)[2]
Weighting methodFree-float capitalization-weighted[3]
Related indices
List
Websiteus.spindices.com/indices/equity/sp-400

To be included in the index, a stock must have a total market capitalization that ranges from $3.7 billion to $14.6 billion.[4] 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.[4]

As of 31 December 2021, the median market cap was $5.77 billion with the market cap of the largest company in the index at nearly $18.6 billion and the smallest company at $1.6 billion. The index's market cap covers nearly 7 percent of the total US stock market.

Record valuesEdit

Category All-Time Highs
Closing 2,910.70 Tuesday, November 16, 2021
Intraday 2,925.93 Monday, November 8, 2021

InvestingEdit

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.[8]

VersionsEdit

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 returnsEdit

Year Price return Total return Net total return
2021 23.21% 24.76% 24.29%
2020 11.81% 13.66% 13.10%
2019 24.05% 26.20% 25.55%
2018 −12.50% −11.08% −11.51%
2017 14.45% 16.24% 15.70%
2016 18.73% 20.74% 20.13%
2015 −3.71% −2.18% −2.64%
2014 8.19% 9.77% 9.29%
2013 31.57% 33.50% 32.92%
2012 16.07% 17.88% 17.33%
2011 −3.10% −1.73% −2.14%
2010 24.85% 26.64% 26.10%
2009 35.00% 37.38% 36.66%
2008 −37.28% −36.23% −36.55%
2007 6.69% 7.98% N/A
2006 8.99% 10.32% N/A
2005 11.27% 12.56% N/A
2004 15.16% 16.48% N/A
Sources:[9][10]

ComponentsEdit

See alsoEdit

ReferencesEdit

  1. ^ a b "S&P 400 Overview". S&P/Dow Jones Indices LLC. Retrieved January 20, 2013.
  2. ^ "S&P 400® Factsheet" (PDF). S&P Global. p. 5.
  3. ^ "S&P U.S. Indices Methodology" (PDF). Standard & Poor's. Retrieved 16 December 2017.
  4. ^ 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.
  5. ^ MDY - SPDR S&P MidCap 400 ETF State Street Global Advisors (SSgA)
  6. ^ "Vanguard S&P Mid-Cap 400 ETF".
  7. ^ iShares Core S&P Mid-Cap ETF (IJH): Overview iShares
  8. ^ Mid-Cap ETFs Find a Sweet Spot Yahoo Finance
  9. ^ S&P MidCap 400 Factsheet
  10. ^ S&P MidCap 400® | S&P Dow Jones Indices