Indexes definitions
The Alerian Midstream Energy Index is a broad-based composite of North American energy infrastructure companies. The capped, float-adjusted, capitalization-weighted index, whose constituents earn the majority of their cash flow from midstream activities involving energy commodities, is disseminated real-time on a price-return basis and on a total-return basis.
The Alerian Midstream Energy Select Canada-Capped Index is a composite of North American energy infrastructure companies. The capped, float-adjusted, capitalized-weighted index, which includes the same companies as the Alerian Midstream Energy Select Index (AMEI) but caps the aggregate weight of Canadian constituents at 20%, is disseminated end-of-day on a price-return and total-return basis.
The Alerian Midstream Energy Select Index (Total Return) is a capped, float-adjusted, capitalization-weighted index composite of North American energy infrastructure companies, whose constituents are engaged in midstream activities involving energy commodities.
The Alerian MLP Index (Total Return) is a capped, float-adjusted, capitalization-weighted index, whose constituents represent approximately 85% of total MLP float-adjusted market capitalization.
The Bloomberg Commodity Total Return Index is a broadly diversified index that tracks the commodity markets through commodity futures contracts. The index is made up of exchange-traded futures on physical commodities, which are weighted to account for economic significance and market liquidity.
The Bloomberg Developed Market USD Contingent Capital Index includes hybrid capital securities in developed markets with explicit equity conversion or write down loss absorption mechanisms that are based on an issuer’s regulatory capital ratio or other explicit solvency-based triggers.
The Bloomberg U.S. Aggregate Bond Index is a broad-market measure of the U.S. dollar-denominated investment-grade fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, mortgage backed securities, asset-backed securities, and commercial mortgage-backed securities.
The Cohen & Steers Risk Parity Energy Index (Custom) is based on the S&P Energy Select Sector Index with weights based on volatility contribution of the underlying GICS industries.
The Dow Jones Brookfield Global Infrastructure Index is a float-adjusted market-capitalization-weighted index that measures performance of globally domiciled companies that derive more than 70% of their cash flows from infrastructure lines of business.
The FTSE EPRA Nareit Developed ex-U.S. Real Estate Index- net is an unmanaged market-capitalization-weighted total return index, which consists of publicly traded equity REITs and listed property companies from developed markets excluding the United States and is net of dividend withholding taxes.
The FTSE EPRA Nareit Developed Real Estate Index- net is an unmanaged market-capitalization-weighted total-return index, which consists of publicly traded equity REITs and listed property companies from developed markets and is net of dividend withholding taxes.
The FTSE EPRA Nareit Developed Rental Index is a free-float adjusted market-capitalization-weighted index designed to track the performance of eligible listed real estate companies domiciled in developed markets; companies must derive at least 70% of total revenue from investment property rents.
The FTSE Global Core Infrastructure 50/50 Net Tax Index is a market-capitalization-weighted index of worldwide infrastructure and infrastructure-related securities and is net of dividend withholding taxes. Constituent weights are adjusted semi-annually according to three broad industry sectors: 50% utilities, 30% transportation, and a 20% mix of other sectors, including pipelines, satellites, and telecommunication towers.
The FTSE EPRA Nareit Developed Europe UCITS Daily Capped Net Tax Index is designed to track the performance of listed real estate companies and REITs in Developed Europe. Relevant real estate activities are defined as the ownership, trading and development of income-producing real estate. The index is monitored daily to ensure that constituent weights do not breach the following thresholds: No company is greater than 10%, and all companies that have a weight greater than 5% in aggregate are no more than 40% of the index. The net tax index applies maximum withholding tax rates to dividends received.
The FTSE Nareit All Equity REITs Index contains all tax-qualified REITs with more than 50% of total assets in qualifying real estate assets other than mortgages secured by real property that also meet minimum size and liquidity criteria.
The FTSE EPRA Nareit Developed Asia Real Estate Index – Net is an unmanaged market-capitalization-weighted total-return index, which consists of publicly traded equity REITs and listed property companies from the Asia region and is net of dividend witholding taxes.
The FTSE EPRA Nareit Developed Europe Real Estate Index is an unmanaged market-capitalization-weighted total-return index, which consists of publicly traded equity REITs and listed property companies from the Europe region.
The FTSE EPRA Nareit Developed Rental Index – net is an unmanaged market-capitalization-weighted total-return index, which consists of publicly traded equity REITs and listed property companies from developed markets that derive more than 70% of their total revenue from rental revenue from investment properties and is net of dividend withholding taxes.
The FTSE Nareit Equity REITs Index contains all tax-qualified REITs except timber and infrastructure REITs with more than 50% of total assets in qualifying real estate assets other than mortgages secured by real property that also meet minimum size and liquidity criteria.
Gold is represented by the Gold Spot price in U.S. dollars per Troy ounce.
The ICE BofA 1-3 Global Corporate Index, 1–3 Years includes corporate debt with at least $100 million face value outstanding, with a maturity between 1 and 3 years.
The ICE BofA 1-3 Year U.S. Corporate Index tracks the performance of U.S. dollar-denominated investment-grade corporate debt publicly issued in the U.S. domestic market, with a remaining term to final maturity of less than 3 years.
The ICE BofA 7% Constrained Adjustable Rate Preferred Securities Index tracks the performance of U.S. dollar denominated investment-grade floating-rate preferred securities publicly issued in the U.S. domestic market, but with issuer exposure capped at 7%.
The ICE BofA Fixed Rate Preferred Securities Index tracks the performance of fixed rate U.S. dollar-denominated preferred securities issued in the U.S. domestic market.
The ICE BofA Global Hybrid Corporate Index tracks the performance of investment grade hybrid corporate debt publicly issued in the major domestic and Eurobond markets. The index is hedged to the US Dollar.
The ICE BofA Hybrid Preferred Securities 8% Constrained Index contains all securities in the ICE BofA Fixed Rate Preferred Securities Index that are hybrids, but caps issuer exposure at 8%.
The ICE BofA REIT Preferred Securities Index tracks the performance of fixed-rate U.S. dollar-denominated preferred securities issued in the U.S. domestic market including all real estate investment trusts.
The ICE BofA U.S. Capital Securities Index is a subset of the ICE BofA U.S. Corporate Index including securities with deferrable coupons.
The ICE BofA U.S. Corporate Index tracks the performance of USD-denominated investment-grade corporate debt publicly issued in the U.S. domestic market.
The ICE BofA U.S. IG Institutional Capital Securities Index tracks the performance of U.S. dollar denominated investment grade hybrid capital corporate and preferred securities publicly issued in the U.S. domestic market.
The ICE BofA Capital Securities Index tracks the performance of U.S. dollar-denominated investment-grade corporate debt publicly issued in the U.S. domestic market, consisting of fixed-to-floating-rate, perpetual callable and capital securities.
The ICE BofA Core Fixed Rate Preferred Securities Index tracks the perforce of fixed rate U.S. dollar-denominated preferred securities issued in the U.S. domestic market, excluding $1,000 per securities.
The ICE BofA Fixed Rate Preferred Securities Index tracks the performance of fixed-rate U.S. dollar-denominated preferred securities issued in the U.S. domestic market.
The Macquarie Global Infrastructure Index, calculated and managed by FTSE, is designed to reflect the stock performance of infrastructure companies, principally those engaged in the management, ownership and/or operation of infrastructure and utility assets.
The Morningstar All Taxable ex-Foreign Equity Index measures the market-capitalization-weighted total return of taxable equity and fixed income closed-end funds; it excludes international, regional and country closed-end funds. Index returns update frequently and are subject to change.
The MSCI EAFE Index (net) is an equity index which captures large- and mid-capitalization companies in developed market countries excluding the US and Canada and is net of dividend withholding taxes.
The MSCI REIT Preferred Index (formerly known as the Morgan Stanley REIT Preferred Index or MSRP), is a preferred stock market capitalization-weighted total return index of certain exchange-traded perpetual preferred securities with fixed dividends or indexed yields that are issued by U.S. Equity REITs.
The MSCI World Index–net is a free-float-adjusted index that measures performance of large- and mid-capitalization companies representing developed market countries and is net of dividend withholding taxes.
The Russell 1000 Value Index measures the performance of the large-cap value segment of the U.S. equity universe in the Russell 1000 Index that have lower price-to-book ratios and lower expected growth values.
The S-Network All Taxable Fixed Income CEF Index is a market capitalization-weighted index comprising all taxable fixed income closed-end funds. The index reconstitutes and rebalances quarterly.
The S&P 500 Index is an unmanaged index of 500 large-capitalization stocks that is frequently used as a general measure of U.S. stock market performance.
The S&P 500 Oil & Gas Refining & Marketing Index is a subset of the S&P 500 Index that includes companies engaged in the refining and marketing of oil, gas and/or refined products.
The S&P 500 Utilities Index comprises those companies included in the S&P 500 Index that are classified as members of the GICS utilities sector.
The S&P 1500 Utilities Index is an unmanaged market-capitalization-weighted index of companies for which the primary business involves the generation, transmission and/or distribution of electricity and/or natural gas.
The S&P Developed Property Index measures the investable universe of publicly traded real estate companies domiciled in developed markets.
The S&P Global Natural Resources Index-net includes the largest publicly-traded companies in natural resources and commodities businesses that meet specific investability requirements and is net of dividend withholding taxes.
The S&P Energy Select Sector Index is a modified market cap index comprised of energy-related companies within the S&P 500, as defined by the GICS energy sector classification.
The S&P North American and Europe Clean Energy Index-net is designed to measure the performance of 100 of the largest companies in global clean energy-related businesses from North America and Europe.
The S-Network All Taxable ex-Foreign plus Capped Muni CEF Index is a market capitalization-weighted index comprising all taxable closed-end funds and diversified municipal bond funds, except for single-country funds and region-specific equity funds. The index reconstitutes and rebalances quarterly.
The UBS Global 50/50 Infrastructure & Utilities Index–Net tracks a 50% exposure to the global developed market utilities sector and a 50% exposure to global developed market infrastructure sector. The index is free-float market-capitalization weighted and reconstituted annually with quarterly rebalances and is net of dividend withholding taxes.