Nasdaq Financial-100 Explained
The Nasdaq Financial-100 (^IXF) is a stock market index operated by Nasdaq consisting of companies that are listed on the Nasdaq stock exchange and that are in the financial services industry, including banking, insurance, mortgages and securities trading. It was created in 1985 as the sister index to the more widely followed Nasdaq-100.
Standards for eligibility
To qualify for membership in the index, the following standards must be met:[1]
- It must engage in one of these categories: banking, insurance, security trading, brokerage, mortgages, debt collection, and real estate.
- It must be seasoned on the Nasdaq for a period of three months.
- It must be current in regards to SEC filings.
- It cannot be in bankruptcy.
- If a company has multiple classes of stock, all classes that meet minimum market capitalization standards will be included. At this moment, however, all companies in the index have only one class of stock in this index.
- Unlike the Nasdaq-100 index, there are no minimum weight requirements, and no volume minimums to meet either.
The index is rebalanced annually in June. Components that are in the top 100 of financial companies are allowed to remain in the index. If a component is between positions 101 to 125, it is given a year to move into the top 100 of eligible stocks; if it cannot meet this standard, the stock is then dropped. Any component that is not in the top 125 at the time of rebalance is dropped. All vacancies, including those done whenever a corporate action makes a component ineligible, through acquisition or delisting, are filled by the highest ranked component not in the index. Unlike the Nasdaq-100, where changes are announced in advance, changes in the Nasdaq Financial-100 are not made public by Nasdaq.[1]
Components
The following companies are in the index.[2]
- 360 DigiTech
- Ameris Bancorp
- Arch Capital Group
- Atlantic Union Bank
- BancFirst
- The Bancorp, Inc.
- Bank of Hope
- Bank OZK
- Banner Bank
- BOK Financial Corporation
- Brighthouse Financial
- The Carlyle Group
- Cathay Bank
- Cincinnati Financial
- CME Group
- Coinbase
- Columbia Banking System
- Columbia Financial
- Commerce Bancshares
- Credit Acceptance
- CVB Financial
- East West Bank
- Eastern Bank
- Enact Holdings
- Enstar Group
- Enterprise Financial Services Corporation
- Erie Insurance Group
- Fifth Third Bank
- First Citizens BancShares
- First Financial Bancorp
- First Financial Bankshares
- First Hawaiian Bank
- First Interstate BancSystem
- First Merchants Corporation
- FirstCash
- Focus Financial Partners
- Fulton Financial Corporation
- Futu
- Hamilton Lane
- Hancock Whitney
- Heartland Financial USA
- Huntington Bancshares
- Independent Bank
- Independent Bank Group
- Interactive Brokers
- International Bancshares Corporation
- Lakeland Financial Corporation
- LPL Financial
- MarketAxess Holdings, Inc.
- Morningstar, Inc.
- Nasdaq, Inc.
- Navient Corporation
- NMI Holdings
- Northern Trust
- Old National Bancorp
- Open Lending
- Pacific Premier Bancorp
- PacWest Bancorp
- Pinnacle Financial Partners
- Popular, Inc.
- PRA Group
- Principal Financial Group
- Renasant Bank
- Robinhood Markets
- Sallie Mae
- Sandy Spring Bank
- Seacoast Banking Corporation of Florida
- SEI Investments Company
- Selective Insurance Group
- Simmons Bank
- Sallie Mae
- South State Bank
- StepStone Group
- Stock Yards Bank & Trust
- StoneX Group Inc.
- T. Rowe Price
- Texas Capital Bank
- TFS Financial
- Towne Bank
- TPG Inc.
- Tradeweb
- Triumph Bancorp
- Trupanion
- Trustmark Bank
- UMB Financial Corporation
- United Bank
- United Community Bank
- Upstart Holdings
- Valley Bank
- Veritex Bank
- Victory Capital
- Virtu Financial
- Virtus Investment Partners
- WaFd, Inc.
- WesBanco
- Westamerica Bank
- Willis Towers Watson
- Wintrust Financial Corporation
- WSFS Bank
- XP Inc.
References
NASDAQ:NASDAQ:
Notes and References
- Web site: NASDAQ Financial-100 IndexSM Methodology . Nasdaq.
- Web site: Nasdaq Financial-100 . Nasdaq.
