The S&P SmallCap 600 Index (S&P 600) is a stock market index established by Standard & Poor's. It covers roughly the small-cap range of American stocks, using a capitalization-weighted index. To be included in the index, a stock must have a total market capitalization that ranges from $600 million to $2.4 billion at the time of addition to the index. As of 31 January 2020[update], the index's median market cap was $1.13 billion and covered roughly three percent of the total US stock market. These smallcap stocks cover a narrower range of capitalization than the companies covered by the Russell 2000 Smallcap index which range from $169 million to $4 billion. The market valuation for companies in the SmallCap Index and other indices change over time with inflation and the growth of publicly traded companies. The S&P 400 MidCap index combined with the SmallCap 600 compose the S&P 1000, and the S&P 1000 plus the S&P 500 compose the S&P 1500. The index was launched on October 28, 1994.
The following exchange-traded funds (ETFs) attempt to track the performance of the index:
- iShares Core S&P Small-Cap ETF (NYSE Arca: IJR)
- Vanguard S&P Small-Cap 600 ETF (NYSE Arca: VIOO)
- SPDR S&P 600 Small Cap ETF (NYSE Arca: SLY)
Growth Index Fund
- iShares S&P Small-Cap 600 Growth ETF (NYSE Arca: IJT)
- Vanguard S&P Small-Cap 600 Growth ETF (NYSE Arca: VIOG)
- SPDR S&P 600 Small Cap Growth ETF (NYSE Arca: SLYG)
Value Index Fund
- iShares S&P Small-Cap 600 Value ETF (NYSE Arca: IJS)
- Vanguard S&P Small-Cap 600 Value ETF (NYSE Arca: VIOV)
- SPDR S&P 600 Small Cap Value ETF (NYSE Arca: SLYV)
The "S&P 600" generally quoted is a price return index; there is also a total return version 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.
|Year||Price return||Total return|
- S&P U.S. Indices Methodology, Jan. 2015, McGraw Hill
- "Russell Investments United States - Multi-Asset Solutions". www.russell.com.
- "S&P SmallCap 600 -- Overview". Standard and Poors. Retrieved 2012-08-15.
- "Small Caps: S&P 600 Vs. Russell 2000". yahoo.com.
- http://www.indexuniverse.com/sections/research/6065-a-tale-of-two-benchmarks.html A Tale Of Two Benchmarks
- "Index Differences Crucial in Evaluating Small-Cap ETFs". yahoo.com.
- Standard & Poors white paper, A Tale of Two Benchmarks
- S&P SmallCap 600 Factsheet
- Yahoo Finance page for ^SP600
- Bloomberg page for SML:IND
- Standard & Poor's page for S&P SmallCap 600 Index
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