The Swiss Leader Index (SLI) is an index comprising large and mid-cap companies primarily listed on SIX Swiss Exchange. It is made up of 30 of the largest and most liquidSwiss Performance Index (SPI) large- and mid-cap stocks.[1] As a price index, the SLI is not adjusted for dividends, but there exists a total-return version as well.[1]
The SLI was introduced on July 2, 2007 and computed back to December 30, 1999, with a baseline value of 1,000 points on this starting date.[2]
The capping model of the SLI makes it suitable as a benchmark for a broader range of products and markets than other indices offered by SIX Swiss Exchange, because it is compatible with regulatory requirements in the European Union as well as in the United States.[1] With its 9/4.5 caps, the SLI is more diversified, and its risk/return profile is more tilted towards smaller capitalizations, than other indices such as the SMI and SPI.
In 2020, the SLI, along with other SIX indices, was endorsed under the EU Benchmarks Regulation and is registered in ESMA, which means that it can be used as an underlying for financial products sold in the EU.[3]
Rules
Universe
The SLI comprises the 20 securities of the SMI, as well as the largest 10 securities in the SMI MID.[2]
Capped weightings
The largest four components of the SLI are capped at 9%. All other components, if necessary, are capped at 4.5%.[1] The caps are enforced with a multiplication factor that is updated every three months.[2]
This was made to conform the SLI to the EU's UCITS 5/10/40 rule, which says that:
The value of any single position cannot be more than 10% of the fund's value, and
all positions that are larger than 5% of the fund's value cannot, together, make up more than 40% of the fund's value.
Current constituents
As of September 20, 2021, the following 30 stocks make up the SLI index.[4] Components marked as 1 have a 9% weight as of September 18, 2020.[5] Sizes are based on the SPI classification by market capitalization: L for SPI Large, M for SPI Mid.[6]
The CAC 40 is a benchmark French stock market index. The index represents a capitalization-weighted measure of the 40 most significant stocks among the 100 largest market caps on the Euronext Paris. It is a price return index. It is one of the main national indices of the pan-European stock exchange group Euronext alongside Euronext Amsterdam's AEX, Euronext Brussels' BEL20, Euronext Dublin's ISEQ 20, Euronext Lisbon's PSI-20 and the Oslo Bors OBX Index. It is an index without dividends. Cotation every working day from 9:00 a.m. to 5:30 p.m.. It is updated every 15 seconds.
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Russell indexes are a family of global stock market indices from FTSE Russell that allow investors to track the performance of distinct market segments worldwide. Many investors use mutual funds or exchange-traded funds based on the FTSE Russell Indexes as a way of gaining exposure to certain portions of the U.S. stock market. Additionally, many investment managers use the Russell Indexes as benchmarks to measure their own performance. Russell's index design has led to more assets benchmarked to its U.S. index family than all other U.S. equity indexes combined.
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A capitalization-weightedindex, also called a market-value-weighted index is a stock market index whose components are weighted according to the total market value of their outstanding shares. Every day an individual stock's price changes and thereby changes a stock index's value. The impact that individual stock's price change has on the index is proportional to the company's overall market value, in a capitalization-weighted index. In other types of indices, different ratios are used.
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The Swiss Performance Index (SPI) is a wide total-return index that tracks equity primarily listed on SIX Swiss Exchange with a free-float of at least 20%, and excluding investment companies. The index covers large, mid and small caps and is weighted by market capitalization. Most constituents, although not all, are domiciled in Switzerland or the Principality of Liechtenstein.
The S&P/ASX 300, or simply, ASX 300, is a stock market index of Australian stocks listed on the Australian Securities Exchange (ASX). The index is market-capitalisation weighted, meaning each company included is in proportion to the indexes total market value, and float-adjusted, meaning the index only considers shares available to public investors.
In finance, a stock index, or stock market index, is an index that measures a stock market, or a subset of the stock market, that helps investors compare current stock price levels with past prices to calculate market performance.
The SMI MID (SMIM) is a stock index which lists Switzerland's mid-cap companies. The index is calculated by SIX Swiss Exchange.
The SPI 20 is a capitalization-weighted stock index of large-cap companies listed on the SIX Swiss Exchange.
The SMI Expanded is a capitalization-weighted stock index of large-cap and mid-cap companies listed on the SIX Swiss Exchange.
The SPI Extra is a stock index which tracks mid-cap and small-cap companies primarily listed in Switzerland. The index is calculated by SIX Swiss Exchange.
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