Comparison of types of security market indices

Index

Representing

No. of securities

Weighting methodology

Comments

MSCI All Country World Index

23 and 22 stocks of developed and developing markets respectively

Not fixed

Free-float-adjusted market capitalization

Price and total return versions in USD and local currency available

Dow Jones Industrial Average

Large cap US stocks

30

Price

Stocks selected by Wall Street Journal editors

Nikkei

Large cap Japan stocks

225

Adjusted Price

Price adjustments for high priced stocks; has some illiquid stocks as well

Stocks on Tokyo Stock Exchange first section

Not fixed

Free-float-adjusted market capitalization

S&P Developed Ex-US BMI Energy Sector index

Energy sector of developed markets ex-USA

Not fixed

Free-float-adjusted market capitalization

Is the model portfolio for S&P Energy sector ETF

Barclays Capital Global Aggregate Bond Index

Investment-grade bonds in North America, Europe, and Asia

Not fixed

Market capitalization

Was earlier known as Lehman Brothers Global Aggregate Bond index

Markit iBoxx Euro high yield bond indices

Below investment grade euro-denominated corporate bonds

Not fixed

Market capitalization and variations

Both price and total return versions available; Rebalanced monthly

Morningstar Style indices

US stocks based on market capitalization and value/growth prospects

Not fixed

Free-float-adjusted market capitalization

9 indices in total based on market cap and value/growth classification; no security is common amongst these indices

HFRX Global hedge fund index

Global hedge funds

Not fixed

Asset weighted

Comprises all hedge fund strategies

HFRX Equal weighted strategies EUR index

Global hedge funds

Not fixed

Equal weighted

Same constituents as HFRX Global hedge fund index

FTSE EPRA/NAREIT Global Real Estate index

Real estate securities in North America, Europe, and Asia

335

Free-float-adjusted market capitalization

Stocks of REITs publicly traded in these markets