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Standard and Poor’s 500 (S&P 500) Index

 

Notes

• Foundation: 04 March 1957
• Operator: S&P Dow Jones Indices
• Exchanges: New York Stock Exchange (NYSE), NASDAQ (NAS), Cboe BZX Exchange
• Trading Symbol: ^GSPC
• Constituents: 503
• Type: Large-cap
• Market Cap: US$42.4 trillion (Jan. 2022)
• Weighting Method: Free-float capitalization-weighted
• Website: www.spglobal.com/spdji/en/indices/equity/sp-500/

 

S&P 500: A Detailed Explanation

The S&P 500 (Standard & Poor’s 500) is one of the most widely recognized and followed stock market indices in the world. It represents the performance of 500 of the largest publicly traded companies in the United States. The index is considered a benchmark for the overall health of the U.S. stock market and is often used by investors to gauge the performance of the U.S. economy.

 

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1. What Is the S&P 500?

The S&P 500 is a market-capitalization-weighted index, meaning the companies with the largest market values (stock price multiplied by shares outstanding) have the most influence on the index’s performance. It includes a diverse range of companies from various sectors of the economy, such as technology, healthcare, financials, energy, consumer goods, and more. It is designed to represent the broad U.S. stock market, making it a key gauge for investment professionals, economists, and analysts.

 

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2. Components of the S&P 500:

• 500 Companies: The S&P 500 index is made up of 500 large, publicly traded companies. The exact composition changes over time as companies are added or removed based on specific criteria.
• Market Capitalization: The S&P 500 includes companies from different industries, but it is weighted by market capitalization. The largest companies, such as Apple, Microsoft, and Amazon, have a greater impact on the index’s performance compared to smaller companies.
• Sector Representation: The S&P 500 covers 11 broad sectors of the economy:
  1. Information Technology
  2. Health Care
  3. Consumer Discretionary
  4. Financials
  5. Communication Services
  6. Industrials
  7. Consumer Staples
  8. Energy
  9. Utilities
  10. Real Estate
  11. Materials

 

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3. How Is the S&P 500 Calculated?

The S&P 500 is a capitalization-weighted index, meaning the index is calculated by adding up the total market value (market capitalization) of all the companies in the index. This means that companies with a larger market capitalization have a bigger effect on the movement of the index than smaller companies.

Formula:

\text{S&P 500 Index} = \frac{\text{Sum of Market Capitalizations of All 500 Companies}}{\text{Index Divisor}}

• Market Capitalization: This is calculated by multiplying the stock price of each company by the total number of shares outstanding.
• Index Divisor: The divisor is a value used to maintain the continuity of the index over time, ensuring that changes such as stock splits, mergers, or new additions do not artificially distort the index’s value.

 

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4. Criteria for Inclusion in the S&P 500:

To be included in the S&P 500, a company must meet several criteria:

• Market Capitalization: The company must have a market capitalization of at least $14.6 billion (as of 2024).
• Liquidity: The company must have adequate liquidity, meaning its stock should trade in large volumes.
• Domicile: The company must be based in the United States.
• Sector Representation: The company must fit into one of the sectors covered by the index.
• Financial Viability: The company should have positive earnings in the most recent quarter and over the past four quarters.
• Public Float: A significant portion of the company’s shares must be publicly available for trading (not closely held by insiders).

 

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5. Why Is the S&P 500 Important?

The S&P 500 is considered one of the most important stock market indices for several reasons:

a. Market Benchmark:

• The S&P 500 is often used as a benchmark to measure the performance of U.S. stocks. When people say “the market is up or down,” they are typically referring to the performance of the S&P 500.

b. Diversification:

• The index covers a broad spectrum of industries and sectors, so it provides a diversified snapshot of the U.S. economy. Investors often use the S&P 500 as a proxy for the overall U.S. stock market.

c. Widely Used in Investment Products:

• Many mutual funds, exchange-traded funds (ETFs), and index funds track the S&P 500. These products offer investors a way to invest in the broader U.S. market without needing to pick individual stocks.

d. Economic Indicator:

• Because the S&P 500 includes 500 major companies from diverse sectors, it is considered a leading indicator of economic health. A strong performance in the index often reflects a growing economy, while a decline may indicate economic weakness.

 

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6. Performance of the S&P 500:

The performance of the S&P 500 can be used to evaluate the health of the U.S. stock market over time. It’s important to note that the S&P 500 index is price-weighted, meaning its performance reflects the total return of the companies it includes, considering stock price movements and dividends.

a. Total Return:

• The S&P 500 is often quoted in terms of both price return and total return. The price return reflects only the movement in the price of the stocks, while the total return also includes dividends reinvested.

b. Historical Returns:

• Historically, the S&P 500 has provided an average annual return of around 7-10% after adjusting for inflation. However, this can vary greatly from year to year depending on economic conditions, market trends, and other factors.

 

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7. S&P 500 vs. Other Indices:

• Dow Jones Industrial Average (DJIA): The DJIA is another widely followed index, but it tracks only 30 large companies, compared to the 500 companies in the S&P 500. Additionally, the DJIA is price-weighted, while the S&P 500 is market-cap-weighted. This means that the S&P 500 provides a broader, more diverse picture of the market.
• NASDAQ Composite: The NASDAQ Composite Index includes a large number of technology companies and is more heavily weighted towards the tech sector than the S&P 500. While the S&P 500 includes a broader range of industries, the NASDAQ is often seen as a technology-focused benchmark.

 

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8. Investment in the S&P 500:

Many investors use the S&P 500 as a tool for building diversified portfolios. There are several ways to invest in the S&P 500:

• Index Funds: These are mutual funds that aim to replicate the performance of the S&P 500 by holding the same stocks in the same proportions.
• Exchange-Traded Funds (ETFs): ETFs such as the SPDR S&P 500 ETF (SPY) track the performance of the index and can be bought and sold on stock exchanges like regular stocks.
• Direct Investment: Although it’s more difficult for individual investors to directly invest in all 500 companies, they can buy shares in index funds or ETFs that do so.

 

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9. Advantages of Investing in the S&P 500:

a. Diversification:

• The S&P 500 provides exposure to a broad spectrum of the U.S. economy. By investing in it, an investor gains indirect exposure to multiple sectors, reducing the risk associated with individual stocks.

b. Lower Costs:

• Index funds and ETFs that track the S&P 500 usually have lower fees than actively managed funds because they simply aim to replicate the performance of the index rather than picking individual stocks.

c. Historical Performance:

• The S&P 500 has historically provided a good balance between risk and return, offering investors strong long-term returns, making it a popular choice for retirement accounts and long-term investing.

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10. Limitations of the S&P 500:

a. Market Capitalization Bias:

• Because the S&P 500 is market-cap-weighted, larger companies have a disproportionate impact on the performance of the index. For example, companies like Apple and Microsoft can heavily influence the index’s movement, potentially overshadowing smaller companies in the index.

b. Does Not Include Small-Cap Stocks:

• While the S&P 500 includes large-cap companies, it does not provide exposure to small-cap or mid-cap companies, which may offer different growth opportunities.

c. Lack of Global Exposure:

• The S&P 500 focuses on U.S.-based companies, so it does not offer direct exposure to international markets, which may be important for investors seeking global diversification.

 

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Conclusion:

The S&P 500 is one of the most important and widely followed stock market indices, providing a broad representation of the performance of the largest U.S. companies. As a market-cap-weighted index, it reflects the collective health of the U.S. economy and is commonly used by investors to track overall market performance. Due to its broad diversification and historical performance, many investors use it as a core component of their investment strategy, especially for long-term growth.

 

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Index

Symbol	Security	GICS Sector	GICS Sub-Industry
A	Agilent Technologies	Health Care	Life Sciences Tools & Services
AAPL	Apple Inc.	Information Technology	Technology Hardware, Storage & Peripherals
ABBV	AbbVie	Health Care	Biotechnology
ABNB	Airbnb	Consumer Discretionary	Hotels, Resorts & Cruise Lines
ABT	Abbott Laboratories	Health Care	Health Care Equipment
ACGL	Arch Capital Group	Financials	Property & Casualty Insurance
ACN	Accenture	Information Technology	IT Consulting & Other Services
ADBE	Adobe Inc.	Information Technology	Application Software
ADI	Analog Devices	Information Technology	Semiconductors
ADM	Archer Daniels Midland	Consumer Staples	Agricultural Products & Services
ADP	Automatic Data Processing	Industrials	Human Resource & Employment Services
ADSK	Autodesk	Information Technology	Application Software
AEE	Ameren	Utilities	Multi-Utilities
AEP	American Electric Power	Utilities	Electric Utilities
AES	AES Corporation	Utilities	Independent Power Producers & Energy Traders
AFL	Aflac	Financials	Life & Health Insurance
AIG	American International Group	Financials	Multi-line Insurance
AIZ	Assurant	Financials	Multi-line Insurance
AJG	Arthur J. Gallagher & Co.	Financials	Insurance Brokers
AKAM	Akamai Technologies	Information Technology	Internet Services & Infrastructure
ALB	Albemarle Corporation	Materials	Specialty Chemicals
ALGN	Align Technology	Health Care	Health Care Supplies
ALL	Allstate	Financials	Property & Casualty Insurance
ALLE	Allegion	Industrials	Building Products
AMAT	Applied Materials	Information Technology	Semiconductor Materials & Equipment
AMCR	Amcor	Materials	Paper & Plastic Packaging Products & Materials
AMD	Advanced Micro Devices	Information Technology	Semiconductors
AME	Ametek	Industrials	Electrical Components & Equipment
AMGN	Amgen	Health Care	Biotechnology
AMP	Ameriprise Financial	Financials	Asset Management & Custody Banks
AMT	American Tower	Real Estate	Telecom Tower REITs
AMTM	Amentum	Industrials	Diversified Support Services
AMZN	Amazon	Consumer Discretionary	Broadline Retail
ANET	Arista Networks	Information Technology	Communications Equipment
ANSS	Ansys	Information Technology	Application Software
AON	Aon	Financials	Insurance Brokers
AOS	A. O. Smith	Industrials	Building Products
APA	APA Corporation	Energy	Oil & Gas Exploration & Production
APD	Air Products	Materials	Industrial Gases
APH	Amphenol	Information Technology	Electronic Components
APTV	Aptiv	Consumer Discretionary	Automotive Parts & Equipment
ARE	Alexandria Real Estate Equities	Real Estate	Office REITs
ATO	Atmos Energy	Utilities	Gas Utilities
AVB	AvalonBay Communities	Real Estate	Multi-Family Residential REITs
AVGO	Broadcom	Information Technology	Semiconductors
AVY	Avery Dennison	Materials	Paper & Plastic Packaging Products & Materials
AWK	American Water Works	Utilities	Water Utilities
AXON	Axon Enterprise	Industrials	Aerospace & Defense
AXP	American Express	Financials	Consumer Finance
AZO	AutoZone	Consumer Discretionary	Automotive Retail
BA	Boeing	Industrials	Aerospace & Defense
BAC	Bank of America	Financials	Diversified Banks
BALL	Ball Corporation	Materials	Metal, Glass & Plastic Containers
BAX	Baxter International	Health Care	Health Care Equipment
BBY	Best Buy	Consumer Discretionary	Computer & Electronics Retail
BDX	Becton Dickinson	Health Care	Health Care Equipment
BEN	Franklin Resources	Financials	Asset Management & Custody Banks
BF.B	Brown–Forman	Consumer Staples	Distillers & Vintners
BG	Bunge Global	Consumer Staples	Agricultural Products & Services
BIIB	Biogen	Health Care	Biotechnology
BK	BNY Mellon	Financials	Asset Management & Custody Banks
BKNG	Booking Holdings	Consumer Discretionary	Hotels, Resorts & Cruise Lines
BKR	Baker Hughes	Energy	Oil & Gas Equipment & Services
BLDR	Builders FirstSource	Industrials	Building Products
BLK	BlackRock	Financials	Asset Management & Custody Banks
BMY	Bristol Myers Squibb	Health Care	Pharmaceuticals
BR	Broadridge Financial Solutions	Industrials	Data Processing & Outsourced Services
BRK.B	Berkshire Hathaway	Financials	Multi-Sector Holdings
BRO	Brown & Brown	Financials	Insurance Brokers
BSX	Boston Scientific	Health Care	Health Care Equipment
BWA	BorgWarner	Consumer Discretionary	Automotive Parts & Equipment
BX	Blackstone Inc.	Financials	Asset Management & Custody Banks
BXP	BXP, Inc.	Real Estate	Office REITs
C	Citigroup	Financials	Diversified Banks
CAG	Conagra Brands	Consumer Staples	Packaged Foods & Meats
CAH	Cardinal Health	Health Care	Health Care Distributors
CARR	Carrier Global	Industrials	Building Products
CAT	Caterpillar Inc.	Industrials	Construction Machinery & Heavy Transportation Equipment
CB	Chubb Limited	Financials	Property & Casualty Insurance
CBOE	Cboe Global Markets	Financials	Financial Exchanges & Data
CBRE	CBRE Group	Real Estate	Real Estate Services
CCI	Crown Castle	Real Estate	Telecom Tower REITs
CCL	Carnival	Consumer Discretionary	Hotels, Resorts & Cruise Lines
CDNS	Cadence Design Systems	Information Technology	Application Software
CDW	CDW	Information Technology	Technology Distributors
CE	Celanese	Materials	Specialty Chemicals
CEG	Constellation Energy	Utilities	Electric Utilities
CF	CF Industries	Materials	Fertilizers & Agricultural Chemicals
CFG	Citizens Financial Group	Financials	Regional Banks
CHD	Church & Dwight	Consumer Staples	Household Products
CHRW	C.H. Robinson	Industrials	Air Freight & Logistics
CHTR	Charter Communications	Communication Services	Cable & Satellite
CI	Cigna	Health Care	Health Care Services
CINF	Cincinnati Financial	Financials	Property & Casualty Insurance
CL	Colgate-Palmolive	Consumer Staples	Household Products
CLX	Clorox	Consumer Staples	Household Products
CMCSA	Comcast	Communication Services	Cable & Satellite
CME	CME Group	Financials	Financial Exchanges & Data
CMG	Chipotle Mexican Grill	Consumer Discretionary	Restaurants
CMI	Cummins	Industrials	Construction Machinery & Heavy Transportation Equipment
CMS	CMS Energy	Utilities	Multi-Utilities
CNC	Centene Corporation	Health Care	Managed Health Care
CNP	CenterPoint Energy	Utilities	Multi-Utilities
COF	Capital One	Financials	Consumer Finance
COO	Cooper Companies (The)	Health Care	Health Care Supplies
COP	ConocoPhillips	Energy	Oil & Gas Exploration & Production
COR	Cencora	Health Care	Health Care Distributors
COST	Costco	Consumer Staples	Consumer Staples Merchandise Retail
CPAY	Corpay	Financials	Transaction & Payment Processing Services
CPB	Campbell Soup Company	Consumer Staples	Packaged Foods & Meats
CPRT	Copart	Industrials	Diversified Support Services
CPT	Camden Property Trust	Real Estate	Multi-Family Residential REITs
CRL	Charles River Laboratories	Health Care	Life Sciences Tools & Services
CRM	Salesforce	Information Technology	Application Software
CRWD	CrowdStrike	Information Technology	Systems Software
CSCO	Cisco	Information Technology	Communications Equipment
CSGP	CoStar Group	Real Estate	Real Estate Services
CSX	CSX Corporation	Industrials	Rail Transportation
CTAS	Cintas	Industrials	Diversified Support Services
CTLT	Catalent	Health Care	Pharmaceuticals
CTRA	Coterra	Energy	Oil & Gas Exploration & Production
CTSH	Cognizant	Information Technology	IT Consulting & Other Services
CTVA	Corteva	Materials	Fertilizers & Agricultural Chemicals
CVS	CVS Health	Health Care	Health Care Services
CVX	Chevron Corporation	Energy	Integrated Oil & Gas
CZR	Caesars Entertainment	Consumer Discretionary	Casinos & Gaming
D	Dominion Energy	Utilities	Multi-Utilities
DAL	Delta Air Lines	Industrials	Passenger Airlines
DAY	Dayforce	Industrials	Human Resource & Employment Services
DD	DuPont	Materials	Specialty Chemicals
DE	Deere & Company	Industrials	Agricultural & Farm Machinery
DECK	Deckers Brands	Consumer Discretionary	Footwear
DELL	Dell Technologies	Information Technology	Technology Hardware, Storage & Peripherals
DFS	Discover Financial	Financials	Consumer Finance
DG	Dollar General	Consumer Staples	Consumer Staples Merchandise Retail
DGX	Quest Diagnostics	Health Care	Health Care Services
DHI	D. R. Horton	Consumer Discretionary	Homebuilding
DHR	Danaher Corporation	Health Care	Life Sciences Tools & Services
DIS	Walt Disney Company (The)	Communication Services	Movies & Entertainment
DLR	Digital Realty	Real Estate	Data Center REITs
DLTR	Dollar Tree	Consumer Staples	Consumer Staples Merchandise Retail
DOC	Healthpeak Properties	Real Estate	Health Care REITs
DOV	Dover Corporation	Industrials	Industrial Machinery & Supplies & Components
DOW	Dow Inc.	Materials	Commodity Chemicals
DPZ	Domino's	Consumer Discretionary	Restaurants
DRI	Darden Restaurants	Consumer Discretionary	Restaurants
DTE	DTE Energy	Utilities	Multi-Utilities
DUK	Duke Energy	Utilities	Electric Utilities
DVA	DaVita	Health Care	Health Care Services
DVN	Devon Energy	Energy	Oil & Gas Exploration & Production
DXCM	Dexcom	Health Care	Health Care Equipment
EA	Electronic Arts	Communication Services	Interactive Home Entertainment
EBAY	eBay	Consumer Discretionary	Broadline Retail
ECL	Ecolab	Materials	Specialty Chemicals
ED	Consolidated Edison	Utilities	Multi-Utilities
EFX	Equifax	Industrials	Research & Consulting Services
EG	Everest Group	Financials	Reinsurance
EIX	Edison International	Utilities	Electric Utilities
EL	Estée Lauder Companies (The)	Consumer Staples	Personal Care Products
ELV	Elevance Health	Health Care	Managed Health Care
EMN	Eastman Chemical Company	Materials	Specialty Chemicals
EMR	Emerson Electric	Industrials	Electrical Components & Equipment
ENPH	Enphase Energy	Information Technology	Semiconductor Materials & Equipment
EOG	EOG Resources	Energy	Oil & Gas Exploration & Production
EPAM	EPAM Systems	Information Technology	IT Consulting & Other Services
EQIX	Equinix	Real Estate	Data Center REITs
EQR	Equity Residential	Real Estate	Multi-Family Residential REITs
EQT	EQT Corporation	Energy	Oil & Gas Exploration & Production
ERIE	Erie Indemnity	Financials	Insurance Brokers
ES	Eversource Energy	Utilities	Electric Utilities
ESS	Essex Property Trust	Real Estate	Multi-Family Residential REITs
ETN	Eaton Corporation	Industrials	Electrical Components & Equipment
ETR	Entergy	Utilities	Electric Utilities
EVRG	Evergy	Utilities	Electric Utilities
EW	Edwards Lifesciences	Health Care	Health Care Equipment
EXC	Exelon	Utilities	Electric Utilities
EXPD	Expeditors International	Industrials	Air Freight & Logistics
EXPE	Expedia Group	Consumer Discretionary	Hotels, Resorts & Cruise Lines
EXR	Extra Space Storage	Real Estate	Self-Storage REITs
F	Ford Motor Company	Consumer Discretionary	Automobile Manufacturers
FANG	Diamondback Energy	Energy	Oil & Gas Exploration & Production
FAST	Fastenal	Industrials	Trading Companies & Distributors
FCX	Freeport-McMoRan	Materials	Copper
FDS	FactSet	Financials	Financial Exchanges & Data
FDX	FedEx	Industrials	Air Freight & Logistics
FE	FirstEnergy	Utilities	Electric Utilities
FFIV	F5, Inc.	Information Technology	Communications Equipment
FI	Fiserv	Financials	Transaction & Payment Processing Services
FICO	Fair Isaac	Information Technology	Application Software
FIS	Fidelity National Information Services	Financials	Transaction & Payment Processing Services
FITB	Fifth Third Bancorp	Financials	Regional Banks
FMC	FMC Corporation	Materials	Fertilizers & Agricultural Chemicals
FOX	Fox Corporation (Class B)	Communication Services	Broadcasting
FOXA	Fox Corporation (Class A)	Communication Services	Broadcasting
FRT	Federal Realty Investment Trust	Real Estate	Retail REITs
FSLR	First Solar	Information Technology	Semiconductors
FTNT	Fortinet	Information Technology	Systems Software
FTV	Fortive	Industrials	Industrial Machinery & Supplies & Components
GD	General Dynamics	Industrials	Aerospace & Defense
GDDY	GoDaddy	Information Technology	Internet Services & Infrastructure
GE	GE Aerospace	Industrials	Aerospace & Defense
GEHC	GE HealthCare	Health Care	Health Care Equipment
GEN	Gen Digital	Information Technology	Systems Software
GEV	GE Vernova	Industrials	Heavy Electrical Equipment
GILD	Gilead Sciences	Health Care	Biotechnology
GIS	General Mills	Consumer Staples	Packaged Foods & Meats
GL	Globe Life	Financials	Life & Health Insurance
GLW	Corning Inc.	Information Technology	Electronic Components
GM	General Motors	Consumer Discretionary	Automobile Manufacturers
GNRC	Generac	Industrials	Electrical Components & Equipment
GOOG	Alphabet Inc. (Class C)	Communication Services	Interactive Media & Services
GOOGL	Alphabet Inc. (Class A)	Communication Services	Interactive Media & Services
GPC	Genuine Parts Company	Consumer Discretionary	Distributors
GPN	Global Payments	Financials	Transaction & Payment Processing Services
GRMN	Garmin	Consumer Discretionary	Consumer Electronics
GS	Goldman Sachs	Financials	Investment Banking & Brokerage
GWW	W. W. Grainger	Industrials	Industrial Machinery & Supplies & Components
HAL	Halliburton	Energy	Oil & Gas Equipment & Services
HAS	Hasbro	Consumer Discretionary	Leisure Products
HBAN	Huntington Bancshares	Financials	Regional Banks
HCA	HCA Healthcare	Health Care	Health Care Facilities
HD	Home Depot (The)	Consumer Discretionary	Home Improvement Retail
HES	Hess Corporation	Energy	Integrated Oil & Gas
HIG	Hartford (The)	Financials	Property & Casualty Insurance
HII	Huntington Ingalls Industries	Industrials	Aerospace & Defense
HLT	Hilton Worldwide	Consumer Discretionary	Hotels, Resorts & Cruise Lines
HOLX	Hologic	Health Care	Health Care Equipment
HON	Honeywell	Industrials	Industrial Conglomerates
HPE	Hewlett Packard Enterprise	Information Technology	Technology Hardware, Storage & Peripherals
HPQ	HP Inc.	Information Technology	Technology Hardware, Storage & Peripherals
HRL	Hormel Foods	Consumer Staples	Packaged Foods & Meats
HSIC	Henry Schein	Health Care	Health Care Distributors
HST	Host Hotels & Resorts	Real Estate	Hotel & Resort REITs
HSY	Hershey Company (The)	Consumer Staples	Packaged Foods & Meats
HUBB	Hubbell Incorporated	Industrials	Industrial Machinery & Supplies & Components
HUM	Humana	Health Care	Managed Health Care
HWM	Howmet Aerospace	Industrials	Aerospace & Defense
IBM	IBM	Information Technology	IT Consulting & Other Services
ICE	Intercontinental Exchange	Financials	Financial Exchanges & Data
IDXX	Idexx Laboratories	Health Care	Health Care Equipment
IEX	IDEX Corporation	Industrials	Industrial Machinery & Supplies & Components
IFF	International Flavors & Fragrances	Materials	Specialty Chemicals
INCY	Incyte	Health Care	Biotechnology
INTC	Intel	Information Technology	Semiconductors
INTU	Intuit	Information Technology	Application Software
INVH	Invitation Homes	Real Estate	Single-Family Residential REITs
IP	International Paper	Materials	Paper & Plastic Packaging Products & Materials
IPG	Interpublic Group of Companies (The)	Communication Services	Advertising
IQV	IQVIA	Health Care	Life Sciences Tools & Services
IR	Ingersoll Rand	Industrials	Industrial Machinery & Supplies & Components
IRM	Iron Mountain	Real Estate	Other Specialized REITs
ISRG	Intuitive Surgical	Health Care	Health Care Equipment
IT	Gartner	Information Technology	IT Consulting & Other Services
ITW	Illinois Tool Works	Industrials	Industrial Machinery & Supplies & Components
IVZ	Invesco	Financials	Asset Management & Custody Banks
J	Jacobs Solutions	Industrials	Construction & Engineering
JBHT	J.B. Hunt	Industrials	Cargo Ground Transportation
JBL	Jabil	Information Technology	Electronic Manufacturing Services
JCI	Johnson Controls	Industrials	Building Products
JKHY	Jack Henry & Associates	Financials	Transaction & Payment Processing Services
JNJ	Johnson & Johnson	Health Care	Pharmaceuticals
JNPR	Juniper Networks	Information Technology	Communications Equipment
JPM	JPMorgan Chase	Financials	Diversified Banks
K	Kellanova	Consumer Staples	Packaged Foods & Meats
KDP	Keurig Dr Pepper	Consumer Staples	Soft Drinks & Non-alcoholic Beverages
KEY	KeyCorp	Financials	Regional Banks
KEYS	Keysight Technologies	Information Technology	Electronic Equipment & Instruments
KHC	Kraft Heinz	Consumer Staples	Packaged Foods & Meats
KIM	Kimco Realty	Real Estate	Retail REITs
KKR	KKR	Financials	Asset Management & Custody Banks
KLAC	KLA Corporation	Information Technology	Semiconductor Materials & Equipment
KMB	Kimberly-Clark	Consumer Staples	Household Products
KMI	Kinder Morgan	Energy	Oil & Gas Storage & Transportation
KMX	CarMax	Consumer Discretionary	Automotive Retail
KO	Coca-Cola Company (The)	Consumer Staples	Soft Drinks & Non-alcoholic Beverages
KR	Kroger	Consumer Staples	Food Retail
KVUE	Kenvue	Consumer Staples	Personal Care Products
L	Loews Corporation	Financials	Multi-line Insurance
LDOS	Leidos	Industrials	Diversified Support Services
LEN	Lennar	Consumer Discretionary	Homebuilding
LH	LabCorp	Health Care	Health Care Services
LHX	L3Harris	Industrials	Aerospace & Defense
LIN	Linde plc	Materials	Industrial Gases
LKQ	LKQ Corporation	Consumer Discretionary	Distributors
LLY	Lilly (Eli)	Health Care	Pharmaceuticals
LMT	Lockheed Martin	Industrials	Aerospace & Defense
LNT	Alliant Energy	Utilities	Electric Utilities
LOW	Lowe's	Consumer Discretionary	Home Improvement Retail
LRCX	Lam Research	Information Technology	Semiconductor Materials & Equipment
LULU	Lululemon Athletica	Consumer Discretionary	Apparel, Accessories & Luxury Goods
LUV	Southwest Airlines	Industrials	Passenger Airlines
LVS	Las Vegas Sands	Consumer Discretionary	Casinos & Gaming
LW	Lamb Weston	Consumer Staples	Packaged Foods & Meats
LYB	LyondellBasell	Materials	Specialty Chemicals
LYV	Live Nation Entertainment	Communication Services	Movies & Entertainment
MA	Mastercard	Financials	Transaction & Payment Processing Services
MAA	Mid-America Apartment Communities	Real Estate	Multi-Family Residential REITs
MAR	Marriott International	Consumer Discretionary	Hotels, Resorts & Cruise Lines
MAS	Masco	Industrials	Building Products
MCD	McDonald's	Consumer Discretionary	Restaurants
MCHP	Microchip Technology	Information Technology	Semiconductors
MCK	McKesson Corporation	Health Care	Health Care Distributors
MCO	Moody's Corporation	Financials	Financial Exchanges & Data
MDLZ	Mondelez International	Consumer Staples	Packaged Foods & Meats
MDT	Medtronic	Health Care	Health Care Equipment
MET	MetLife	Financials	Life & Health Insurance
META	Meta Platforms	Communication Services	Interactive Media & Services
MGM	MGM Resorts	Consumer Discretionary	Casinos & Gaming
MHK	Mohawk Industries	Consumer Discretionary	Home Furnishings
MKC	McCormick & Company	Consumer Staples	Packaged Foods & Meats
MKTX	MarketAxess	Financials	Financial Exchanges & Data
MLM	Martin Marietta Materials	Materials	Construction Materials
MMC	Marsh McLennan	Financials	Insurance Brokers
MMM	3M	Industrials	Industrial Conglomerates
MNST	Monster Beverage	Consumer Staples	Soft Drinks & Non-alcoholic Beverages
MO	Altria	Consumer Staples	Tobacco
MOH	Molina Healthcare	Health Care	Managed Health Care
MOS	Mosaic Company (The)	Materials	Fertilizers & Agricultural Chemicals
MPC	Marathon Petroleum	Energy	Oil & Gas Refining & Marketing
MPWR	Monolithic Power Systems	Information Technology	Semiconductors
MRK	Merck & Co.	Health Care	Pharmaceuticals
MRNA	Moderna	Health Care	Biotechnology
MS	Morgan Stanley	Financials	Investment Banking & Brokerage
MSCI	MSCI	Financials	Financial Exchanges & Data
MSFT	Microsoft	Information Technology	Systems Software
MSI	Motorola Solutions	Information Technology	Communications Equipment
MTB	M&T Bank	Financials	Regional Banks
MTCH	Match Group	Communication Services	Interactive Media & Services
MTD	Mettler Toledo	Health Care	Life Sciences Tools & Services
MU	Micron Technology	Information Technology	Semiconductors
NCLH	Norwegian Cruise Line Holdings	Consumer Discretionary	Hotels, Resorts & Cruise Lines
NDAQ	Nasdaq, Inc.	Financials	Financial Exchanges & Data
NDSN	Nordson Corporation	Industrials	Industrial Machinery & Supplies & Components
NEE	NextEra Energy	Utilities	Multi-Utilities
NEM	Newmont	Materials	Gold
NFLX	Netflix	Communication Services	Movies & Entertainment
NI	NiSource	Utilities	Multi-Utilities
NKE	Nike, Inc.	Consumer Discretionary	Apparel, Accessories & Luxury Goods
NOC	Northrop Grumman	Industrials	Aerospace & Defense
NOW	ServiceNow	Information Technology	Systems Software
NRG	NRG Energy	Utilities	Independent Power Producers & Energy Traders
NSC	Norfolk Southern Railway	Industrials	Rail Transportation
NTAP	NetApp	Information Technology	Technology Hardware, Storage & Peripherals
NTRS	Northern Trust	Financials	Asset Management & Custody Banks
NUE	Nucor	Materials	Steel
NVDA	Nvidia	Information Technology	Semiconductors
NVR	NVR, Inc.	Consumer Discretionary	Homebuilding
NWS	News Corp (Class B)	Communication Services	Publishing
NWSA	News Corp (Class A)	Communication Services	Publishing
NXPI	NXP Semiconductors	Information Technology	Semiconductors
O	Realty Income	Real Estate	Retail REITs
ODFL	Old Dominion	Industrials	Cargo Ground Transportation
OKE	ONEOK	Energy	Oil & Gas Storage & Transportation
OMC	Omnicom Group	Communication Services	Advertising
ON	ON Semiconductor	Information Technology	Semiconductors
ORCL	Oracle Corporation	Information Technology	Application Software
ORLY	O'Reilly Auto Parts	Consumer Discretionary	Automotive Retail
OTIS	Otis Worldwide	Industrials	Industrial Machinery & Supplies & Components
OXY	Occidental Petroleum	Energy	Oil & Gas Exploration & Production
PANW	Palo Alto Networks	Information Technology	Systems Software
PARA	Paramount Global	Communication Services	Movies & Entertainment
PAYC	Paycom	Industrials	Human Resource & Employment Services
PAYX	Paychex	Industrials	Human Resource & Employment Services
PCAR	Paccar	Industrials	Construction Machinery & Heavy Transportation Equipment
PCG	PG&E Corporation	Utilities	Multi-Utilities
PEG	Public Service Enterprise Group	Utilities	Electric Utilities
PEP	PepsiCo	Consumer Staples	Soft Drinks & Non-alcoholic Beverages
PFE	Pfizer	Health Care	Pharmaceuticals
PFG	Principal Financial Group	Financials	Life & Health Insurance
PG	Procter & Gamble	Consumer Staples	Personal Care Products
PGR	Progressive Corporation	Financials	Property & Casualty Insurance
PH	Parker Hannifin	Industrials	Industrial Machinery & Supplies & Components
PHM	PulteGroup	Consumer Discretionary	Homebuilding
PKG	Packaging Corporation of America	Materials	Paper & Plastic Packaging Products & Materials
PLD	Prologis	Real Estate	Industrial REITs
PLTR	Palantir Technologies	Information Technology	Internet Services & Infrastructure
PM	Philip Morris International	Consumer Staples	Tobacco
PNC	PNC Financial Services	Financials	Diversified Banks
PNR	Pentair	Industrials	Industrial Machinery & Supplies & Components
PNW	Pinnacle West	Utilities	Multi-Utilities
PODD	Insulet Corporation	Health Care	Health Care Equipment
POOL	Pool Corporation	Consumer Discretionary	Distributors
PPG	PPG Industries	Materials	Specialty Chemicals
PPL	PPL Corporation	Utilities	Electric Utilities
PRU	Prudential Financial	Financials	Life & Health Insurance
PSA	Public Storage	Real Estate	Self-Storage REITs
PSX	Phillips 66	Energy	Oil & Gas Refining & Marketing
PTC	PTC Inc.	Information Technology	Application Software
PWR	Quanta Services	Industrials	Construction & Engineering
PYPL	PayPal	Financials	Transaction & Payment Processing Services
QCOM	Qualcomm	Information Technology	Semiconductors
QRVO	Qorvo	Information Technology	Semiconductors
RCL	Royal Caribbean Group	Consumer Discretionary	Hotels, Resorts & Cruise Lines
REG	Regency Centers	Real Estate	Retail REITs
REGN	Regeneron Pharmaceuticals	Health Care	Biotechnology
RF	Regions Financial Corporation	Financials	Regional Banks
RJF	Raymond James Financial	Financials	Investment Banking & Brokerage
RL	Ralph Lauren Corporation	Consumer Discretionary	Apparel, Accessories & Luxury Goods
RMD	ResMed	Health Care	Health Care Equipment
ROK	Rockwell Automation	Industrials	Electrical Components & Equipment
ROL	Rollins, Inc.	Industrials	Environmental & Facilities Services
ROP	Roper Technologies	Information Technology	Electronic Equipment & Instruments
ROST	Ross Stores	Consumer Discretionary	Apparel Retail
RSG	Republic Services	Industrials	Environmental & Facilities Services
RTX	RTX Corporation	Industrials	Aerospace & Defense
RVTY	Revvity	Health Care	Health Care Equipment
SBAC	SBA Communications	Real Estate	Telecom Tower REITs
SBUX	Starbucks	Consumer Discretionary	Restaurants
SCHW	Charles Schwab Corporation	Financials	Investment Banking & Brokerage
SHW	Sherwin-Williams	Materials	Specialty Chemicals
SJM	J.M. Smucker Company (The)	Consumer Staples	Packaged Foods & Meats
SLB	Schlumberger	Energy	Oil & Gas Equipment & Services
SMCI	Supermicro	Information Technology	Technology Hardware, Storage & Peripherals
SNA	Snap-on	Industrials	Industrial Machinery & Supplies & Components
SNPS	Synopsys	Information Technology	Application Software
SO	Southern Company	Utilities	Electric Utilities
SOLV	Solventum	Health Care	Health Care Technology
SPG	Simon Property Group	Real Estate	Retail REITs
SPGI	S&P Global	Financials	Financial Exchanges & Data
SRE	Sempra	Utilities	Multi-Utilities
STE	Steris	Health Care	Health Care Equipment
STLD	Steel Dynamics	Materials	Steel
STT	State Street Corporation	Financials	Asset Management & Custody Banks
STX	Seagate Technology	Information Technology	Technology Hardware, Storage & Peripherals
STZ	Constellation Brands	Consumer Staples	Distillers & Vintners
SW	Smurfit WestRock	Materials	Paper & Plastic Packaging Products & Materials
SWK	Stanley Black & Decker	Industrials	Industrial Machinery & Supplies & Components
SWKS	Skyworks Solutions	Information Technology	Semiconductors
SYF	Synchrony Financial	Financials	Consumer Finance
SYK	Stryker Corporation	Health Care	Health Care Equipment
SYY	Sysco	Consumer Staples	Food Distributors
T	AT&T	Communication Services	Integrated Telecommunication Services
TAP	Molson Coors Beverage Company	Consumer Staples	Brewers
TDG	TransDigm Group	Industrials	Aerospace & Defense
TDY	Teledyne Technologies	Information Technology	Electronic Equipment & Instruments
TECH	Bio-Techne	Health Care	Life Sciences Tools & Services
TEL	TE Connectivity	Information Technology	Electronic Manufacturing Services
TER	Teradyne	Information Technology	Semiconductor Materials & Equipment
TFC	Truist Financial	Financials	Diversified Banks
TFX	Teleflex	Health Care	Health Care Equipment
TGT	Target Corporation	Consumer Staples	Consumer Staples Merchandise Retail
TJX	TJX Companies	Consumer Discretionary	Apparel Retail
TMO	Thermo Fisher Scientific	Health Care	Life Sciences Tools & Services
TMUS	T-Mobile US	Communication Services	Wireless Telecommunication Services
TPL	Texas Pacific Land Corporation	Energy	Oil & Gas Exploration & Production
TPR	Tapestry, Inc.	Consumer Discretionary	Apparel, Accessories & Luxury Goods
TRGP	Targa Resources	Energy	Oil & Gas Storage & Transportation
TRMB	Trimble Inc.	Information Technology	Electronic Equipment & Instruments
TROW	T. Rowe Price	Financials	Asset Management & Custody Banks
TRV	Travelers Companies (The)	Financials	Property & Casualty Insurance
TSCO	Tractor Supply	Consumer Discretionary	Other Specialty Retail
TSLA	Tesla, Inc.	Consumer Discretionary	Automobile Manufacturers
TSN	Tyson Foods	Consumer Staples	Packaged Foods & Meats
TT	Trane Technologies	Industrials	Building Products
TTWO	Take-Two Interactive	Communication Services	Interactive Home Entertainment
TXN	Texas Instruments	Information Technology	Semiconductors
TXT	Textron	Industrials	Aerospace & Defense
TYL	Tyler Technologies	Information Technology	Application Software
UAL	United Airlines Holdings	Industrials	Passenger Airlines
UBER	Uber	Industrials	Passenger Ground Transportation
UDR	UDR, Inc.	Real Estate	Multi-Family Residential REITs
UHS	Universal Health Services	Health Care	Health Care Facilities
ULTA	Ulta Beauty	Consumer Discretionary	Other Specialty Retail
UNH	UnitedHealth Group	Health Care	Managed Health Care
UNP	Union Pacific Corporation	Industrials	Rail Transportation
UPS	United Parcel Service	Industrials	Air Freight & Logistics
URI	United Rentals	Industrials	Trading Companies & Distributors
USB	U.S. Bancorp	Financials	Diversified Banks
V	Visa Inc.	Financials	Transaction & Payment Processing Services
VICI	Vici Properties	Real Estate	Hotel & Resort REITs
VLO	Valero Energy	Energy	Oil & Gas Refining & Marketing
VLTO	Veralto	Industrials	Environmental & Facilities Services
VMC	Vulcan Materials Company	Materials	Construction Materials
VRSK	Verisk Analytics	Industrials	Research & Consulting Services
VRSN	Verisign	Information Technology	Internet Services & Infrastructure
VRTX	Vertex Pharmaceuticals	Health Care	Biotechnology
VST	Vistra Corp.	Utilities	Electric Utilities
VTR	Ventas	Real Estate	Health Care REITs
VTRS	Viatris	Health Care	Pharmaceuticals
VZ	Verizon	Communication Services	Integrated Telecommunication Services
WAB	Wabtec	Industrials	Construction Machinery & Heavy Transportation Equipment
WAT	Waters Corporation	Health Care	Life Sciences Tools & Services
WBA	Walgreens Boots Alliance	Consumer Staples	Drug Retail
WBD	Warner Bros. Discovery	Communication Services	Broadcasting
WDC	Western Digital	Information Technology	Technology Hardware, Storage & Peripherals
WEC	WEC Energy Group	Utilities	Electric Utilities
WELL	Welltower	Real Estate	Health Care REITs
WFC	Wells Fargo	Financials	Diversified Banks
WM	Waste Management	Industrials	Environmental & Facilities Services
WMB	Williams Companies	Energy	Oil & Gas Storage & Transportation
WMT	Walmart	Consumer Staples	Consumer Staples Merchandise Retail
WRB	W. R. Berkley Corporation	Financials	Property & Casualty Insurance
WST	West Pharmaceutical Services	Health Care	Health Care Supplies
WTW	Willis Towers Watson	Financials	Insurance Brokers
WY	Weyerhaeuser	Real Estate	Timber REITs
WYNN	Wynn Resorts	Consumer Discretionary	Casinos & Gaming
XEL	Xcel Energy	Utilities	Multi-Utilities
XOM	ExxonMobil	Energy	Integrated Oil & Gas
XYL	Xylem Inc.	Industrials	Industrial Machinery & Supplies & Components
YUM	Yum! Brands	Consumer Discretionary	Restaurants
ZBH	Zimmer Biomet	Health Care	Health Care Equipment
ZBRA	Zebra Technologies	Information Technology	Electronic Equipment & Instruments
ZTS	Zoetis	Health Care	Pharmaceuticals