SPI Extra

Last updated
SPI Extra
Foundation29 April 2004
Operator SIX Swiss Exchange
Exchanges SIX Swiss Exchange
Trading symbolSPIEX
Constituents196 (as of April 18, 2019)
TypeMid-cap and small-cap
Market cap CHF 408 billion (full, end 2017) [1]
Weighting method Market-value-weighted, free-float-adjusted
Related indices SMI, SPI, SPI 20
Website six-group.com
ISIN CH0017810976 [2] [3]
RIC .SPIEX
Bloomberg ticker SPIEX:IND [4]

The SPI Extra is a stock index which tracks mid-cap and small-cap companies primarily listed in Switzerland. [5] The index is calculated by SIX Swiss Exchange. [1]

Switzerland federal republic in Central Europe

Switzerland, officially the Swiss Confederation, is a sovereign state situated in the confluence of western, central, and southern Europe. It is a federal republic composed of 26 cantons, with federal authorities seated in Bern. Switzerland is a landlocked country bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. It is geographically divided between the Alps, the Swiss Plateau and the Jura, spanning a total area of 41,285 km2 (15,940 sq mi), and land area of 39,997 km2 (15,443 sq mi). While the Alps occupy the greater part of the territory, the Swiss population of approximately 8.5 million is concentrated mostly on the plateau, where the largest cities are located, among them the two global cities and economic centres of Zürich and Geneva.

SIX Swiss Exchange, based in Zurich, is Switzerland's principal stock exchange. SIX Swiss Exchange also trades other securities such as Swiss government bonds and derivatives such as stock options.

Contents

It includes all the shares from the Swiss Performance Index (SPI) that are not included in the Swiss Market Index (SMI). [1] [6] [7] It is therefore often used in investment portfolios such as exchange-traded funds (ETFs), as a small-cap and mid-cap benchmark that complements the SMI.

Swiss Performance Index

The Swiss Performance Index (SPI) is Switzerland's most closely followed performance index. It is a dividend-corrected index that includes almost all SIX Swiss Exchange-traded equity securities of companies domiciled in Switzerland or the Principality of Liechtenstein.

Swiss Market Index Blue-chip index consisting of the 20 major companies trading on the SIX Swiss Exchange

The Swiss Market Index (SMI) is Switzerland's blue-chip stock market index, which makes it the most important in the country. It is made up of 20 of the largest and most liquid Swiss Performance Index (SPI) large- and mid-cap stocks. As a price index, the SMI is not adjusted for dividends.

An exchange-traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities, or bonds and generally operates with an arbitrage mechanism designed to keep it trading close to its net asset value, although deviations can occasionally occur. Most ETFs track an index, such as a stock index or bond index. ETFs may be attractive as investments because of their low costs, tax efficiency, and stock-like features.

The SPI Extra was introduced on 29 April 2004, computed back to 3 January 1996 with a baseline value of 1000 points as of 31 December 1999. [1]

Constituents

The index contains all the companies that are in the Swiss Performance Index (SPI), but not among the 20 blue chips that are in the Swiss Market Index (SMI), or equivalently the SPI 20. [8]

The SPI 20 is a capitalization-weighted stock index of large-cap companies listed on the SIX Swiss Exchange.

While the SPI Extra overlaps with the SPI Mid+Small, it does not fully coincide because the SMI criteria are not only based on market capitalisation, but also on liquidity.

Tickers

The following are the tickers for the SPI Extra total return, which takes dividends into account. There is also a version of the SPI Extra as a price index. [1]

The VALOR number is a code which uniquely identifies listed securities and financial instruments in Switzerland, and serves a similar purpose to CUSIP or WKN in the North American or German markets respectively. The VALOR number is incorporated in the Swiss ISIN number.

See also

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References

  1. 1 2 3 4 5 "SPI Family – Factsheet" (PDF). SIX Swiss Exchange. Retrieved 18 April 2019.
  2. 1 2 "SPI Extra aktuell". finanzen.ch. Retrieved 26 July 2019.
  3. 1 2 "Kurs SPI Extra TR". cash.ch. Retrieved 26 July 2019.
  4. ↑ "SPI EXTRA TO RET". Financial Times. Retrieved 26 July 2019.
  5. ↑ "SPI Extra Index Explained". Moneyland. Retrieved 26 July 2019.
  6. ↑ "Mehr Rendite auf dem Nebenschauplatz". NZZ. Retrieved 26 July 2019.
  7. ↑ "SPI minus SMI gleich SPI Extra". Finanz und Wirtschaft. Retrieved 26 July 2019.
  8. ↑ "SMI Indices" (PDF). SIX Swiss Exchange. Retrieved 18 April 2019.
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