Convenient listing of additions and removals of companies in international indices?
Posted: Tue May 23, 2017 10:46 pm
Wikipedia has a nice section that lists out additions to, and removals from, the S&P 500.
Is there a similar listing of additions and removals for international indices, such as MSCI EAFE, MSCI ACWI ex US, and MSCI ACWI ex US IMI? I found this page, which links to documents that list additions and removals for individual-country indices, but is there a way to see how this maps to the indices I listed above? For instance, I'm not sure if all of the listings in MSCI's small cap indices document are included in the MSCI ACWI ex US IMI, which includes small caps.
Thank you!
Edit:
I think https://www.msci.com/eqb/pressreleases/ ... _QIRPR.pdf provides some insight:
MSCI ACWI Small Cap Index additions/deletions listed here (all additions and deletions in this "Small Cap Indexes" document count, since ACWI includes all 46 markets): https://www.msci.com/eqb/gimi/smallcap/ ... icList.pdf
I'm still working through it, but I don't think that the ACWI IMI and World All Cap Index additions and deletions are easily isolated (naively, one would assume that the ACWI IMI additions and deletions, for instance, would be a sum of all additions and deletions in the "Standard Indexes" document and the "Small Cap Indexes" document, but perhaps there are gaps and/or overlaps that make this assumption untrue).
Edit 2:
Ok, I'm going to use this post to collect some interesting (at least to me!) reference information (hopefully others will find this useful):
MSCI "Standard" Indexes: cover large- and mid-cap (no small-cap) securities in various markets, covering approximately 85% of each market’s free-float adjusted market capitalization:
Examples:
MSCI Investable Market Indexes (IMI): cover all investable large-, mid-, and small-cap securities in various markets, targeting approximately 99% of each market’s free-float adjusted market capitalization:
Examples:
MSCI All Cap Indexes: cover large-, mid-, small-, and micro-cap securities in developed markets and large-, mid-, and small-cap securities in emerging markets, covering approximately 99% of each market’s free-float adjusted market capitalization:
Examples:
Here is a useful breakdown of the MSCI ACWI, Emerging, and Frontier indices (from https://www.msci.com/market-cap-weighted-indexes or https://www.msci.com/documents/1296102/ ... ay2017.pdf):
And here's a breakdown of the MSCI EAFE Index (from https://www.msci.com/eafe):
Is there a similar listing of additions and removals for international indices, such as MSCI EAFE, MSCI ACWI ex US, and MSCI ACWI ex US IMI? I found this page, which links to documents that list additions and removals for individual-country indices, but is there a way to see how this maps to the indices I listed above? For instance, I'm not sure if all of the listings in MSCI's small cap indices document are included in the MSCI ACWI ex US IMI, which includes small caps.
Thank you!
Edit:
I think https://www.msci.com/eqb/pressreleases/ ... _QIRPR.pdf provides some insight:
MSCI ACWI Index additions/deletions listed here (all additions and deletions in this "Standard Indexes" document count, since ACWI includes all 46 markets -- see Edit 2): https://www.msci.com/eqb/gimi/stdindex/ ... icList.pdfMSCI Global Standard Indexes: Fifty-seven securities will be added to and 28 securities will be deleted from the
MSCI ACWI Index.
MSCI Global Small Cap Indexes: There will be 311 additions to and 189 deletions from the MSCI ACWI Small
Cap Index.
MSCI Global Investable Market Indexes: There will be 308 additions to and 157 deletions from the MSCI ACWI
Investable Market Index (IMI).
MSCI Global All Cap Indexes: There will be 361 additions to and 111 deletions from the MSCI World All Cap
Index.
MSCI ACWI Small Cap Index additions/deletions listed here (all additions and deletions in this "Small Cap Indexes" document count, since ACWI includes all 46 markets): https://www.msci.com/eqb/gimi/smallcap/ ... icList.pdf
I'm still working through it, but I don't think that the ACWI IMI and World All Cap Index additions and deletions are easily isolated (naively, one would assume that the ACWI IMI additions and deletions, for instance, would be a sum of all additions and deletions in the "Standard Indexes" document and the "Small Cap Indexes" document, but perhaps there are gaps and/or overlaps that make this assumption untrue).
Edit 2:
Ok, I'm going to use this post to collect some interesting (at least to me!) reference information (hopefully others will find this useful):
MSCI "Standard" Indexes: cover large- and mid-cap (no small-cap) securities in various markets, covering approximately 85% of each market’s free-float adjusted market capitalization:
Examples:
- MSCI ACWI ex USA Index (fund example: Fidelity's FSGDX): 22 of 23 (no USA) developed markets and 23 emerging markets
- MSCI World Index: 23 developed markets
- MSCI World ex USA Index: 22 of 23 (no USA) developed markets
- MSCI EAFE Index (fund example: Fidelity's FSIVX): 21 of 23 (no USA or Canada) developed markets
MSCI Investable Market Indexes (IMI): cover all investable large-, mid-, and small-cap securities in various markets, targeting approximately 99% of each market’s free-float adjusted market capitalization:
Examples:
- MSCI ACWI ex USA IMI (fund example: Fidelity's FTIPX): 22 of 23 (no USA) developed markets and 23 emerging markets
- MSCI World ex USA IMI: 22 of 23 (no USA) developed markets
- MSCI EAFE IMI: 21 of 23 (no USA or Canada) developed markets
MSCI All Cap Indexes: cover large-, mid-, small-, and micro-cap securities in developed markets and large-, mid-, and small-cap securities in emerging markets, covering approximately 99% of each market’s free-float adjusted market capitalization:
Examples:
- MSCI ACWI ex USA All Cap Index: 22 of 23 (no USA) developed markets and 23 emerging markets
- MSCI World ex USA All Cap Index: 22 of 23 (no USA) developed markets
- MSCI EAFE All Cap Index: 21 of 23 (no USA or Canada) developed markets
Here is a useful breakdown of the MSCI ACWI, Emerging, and Frontier indices (from https://www.msci.com/market-cap-weighted-indexes or https://www.msci.com/documents/1296102/ ... ay2017.pdf):
And here's a breakdown of the MSCI EAFE Index (from https://www.msci.com/eafe):