Equity

S&P MIDCAP 400

Description
The S&P MidCap 400 seeks to track the performance of mid-cap U.S. equities, representing more than 7% of available
U.S. market cap.

Index Attributes
The S&P MidCap 400 is designed to measure the performance of 400 mid-sized companies in the U.S., reflecting this
market segments distinctive risk and return characteristics. Mid-cap exposure generally captures a phase in the typical
corporate life cycle in which firms have successfully navigated the challenges specific to small companies, such as
raising initial capital and managing early growth. At the same time, mid caps tend to be quite dynamic and not so large
that continued growth is unattainable. As a result, the mid-cap segment may offer aspects of the markets not covered by
the large- and small-cap worlds.
The S&P MidCap 400 is part of a series of S&P Dow Jones U.S. equity indices that can be used as mutually exclusive
building blocks; the index does not overlap holdings with the S&P 500 or S&P SmallCap 600.
Together, they constitute the S&P Composite 1500.

Methodology Construction
Universe. All constituents must be U.S. companies.
Eligibility Market Cap. Companies with unadjusted market cap of USD 1.4 billion to USD 5.9 billion.
Public Float. At least 50% of shares outstanding must be available for trading.
Financial Viability. Companies must have positive as-reported earnings over the most recent quarter, as well as over
the most recent four quarters (summed together).
Adequate Liquidity and Reasonable Price. Consists of liquid common stocks, with active secondary markets.
Sector Representation. Companies' industry classifications contribute to the maintenance of a sector balance that
is in line with the sector composition of the universe of eligible companies within the defined market-cap range.
Company Type. All eligible U.S. common equities listed on NYSE, NYSE Arca, NYSE MKT, NASDAQ Global Select
Market, NASDAQ Global Market and NASDAQ Capital Market. REITs are also eligible for inclusion. Closed-end funds,
ETFs, ADRs, ADSs and certain other types of securities are ineligible for inclusion.

Quick Facts
WEIGHTING METHOD

Float-adjusted market cap weighted

REBALANCING FREQUENCY

Quarterly, after the close on the third Friday of the quarter-ending month

CALCULATION FREQUENCY

Real time

CALCULATION CURRENCIES

USD, CAD, EUR, GBP, JPY

LAUNCH DATE

June 19, 1991

For more information, including the complete methodology document, please visit:
http://www.spindices.com/indices/equity/sp-400
All information for an index prior to its Launch Date is back-tested, based on the methodology that was in effect on the Launch Date. Back-tested
performance, which is hypothetical and not actual performance, is subject to inherent limitations because it reflects application of an Index
methodology and selection of index constituents in hindsight. No theoretical approach can take into account all of the factors in the markets in general
and the impact of decisions that might have been made during the actual operation of an index. Actual returns may differ from, and be lower than,
back-tested returns.

AS OF SEPTEMBER 30, 2015

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S&P MIDCAP 400

Historical Performance

S&P 400

Performance
INDEX LEVEL

RETURNS

ANNUALIZED RETURNS

1 MO

3 MOS

YTD

1 YR

3 YRS

5 YRS

10 YRS

-3.22%

-8.50%

-4.66%

1.40%

13.12%

12.93%

8.25%

-3.38%

-8.87%

-5.75%

-0.15%

11.44%

11.28%

6.69%

-5.63%

-6.81%

-1.78%

-0.44%

14.59%

15.63%

N/A

TOTAL RETURNS
1,953.00
PRICE RETURNS
1,368.91
NET TOTAL RETURNS
1,947.73

Calendar Year Performance

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

17.88%

-1.73%

26.64%

37.38%

-36.23%

7.98%

10.32%

12.56%

16.07%

-3.10%

24.85%

35.00%

-37.28%

6.69%

8.99%

11.27%

17.33%

-2.14%

26.10%

36.66%

-36.55%

N/A

N/A

N/A

TOTAL RETURNS
9.77%

33.50%

PRICE RETURNS
8.19%

31.57%

NET TOTAL RETURNS

9.29%

32.92%

AS OF SEPTEMBER 30, 2015

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S&P MIDCAP 400

Risk
ANNUALIZED RISK

ANNUALIZED RISK-ADJUSTED RETURNS

3 YRS

5 YRS

10 YRS

3 YRS

5 YRS

10 YRS

11.24%

13.83%

17.75%

1.17

0.94

0.46

STD DEV

Risk is defined as standard deviation calculated based on total returns using monthly values.

Fundamentals
P/E [TRAILING]

P/E [PROJECTED]

P/B

DIVIDEND YIELD

P/SALES

P/CASH FLOW

N/A

18.35

N/A

1.69%

N/A

N/A

As of August 31, 2015. Fundamentals are updated on approximately the fifth business day of each month.

Index Characteristics
NUMBER OF CONSTITUENTS

400

CONSTITUENT MARKET CAP [ USD MILLION ]

MEAN TOTAL MARKET CAP

3,778.89

LARGEST TOTAL MARKET CAP

11,026.95

SMALLEST TOTAL MARKET CAP

507.55

MEDIAN TOTAL MARKET CAP

3,363.27

WEIGHT LARGEST CONSTITUENT [%]

0.8

WEIGHT TOP 10 CONSTITUENTS [%]

6.6

Top 10 Constituents By Index Weight

CONSTITUENT

SYMBOL

SECTOR*

Church & Dwight Co

CHD

Consumer Staples

Alaska Air Group Inc

ALK

Industrials

Foot Locker Inc

FL

Consumer Discretionary

Jarden Corp

JAH

Consumer Discretionary

Hologic Inc

HOLX

Health Care

Extra Space Storage Inc

EXR

Financials

Federal Realty Invt Trust

FRT

Financials

HollyFrontier Corporation

HFC

Energy

UDR Inc

UDR

Financials

LKQ Corp

LKQ

Consumer Discretionary

*Based on GICS sectors

AS OF SEPTEMBER 30, 2015

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S&P MIDCAP 400

Sector* Breakdown

*Based on GICS sectors

The weightings for each sector of the index are rounded to the nearest tenth of a percent; therefore, the aggregate weights for the index may not equal
100%.

Country Breakdown
COUNTRY

NUMBER OF CONSTITUENTS

TOTAL MARKET CAP [USD MILLION]

INDEX WEIGHT [%]

400

1,511,554.93

100.0

United States
Based on index constituents country of domicile.

Tickers
TICKER

REUTERS

PRICE RETURNS

MID

.IDX

TOTAL RETURNS

SPTRMDCP

.TR4GSPC

NET TOTAL RETURNS

N/A

.SP400NTR

AS OF SEPTEMBER 30, 2015

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S&P MIDCAP 400

Related Products
This is a complete list of all ETFs and ETNs currently linked to this selection of indices. While we have tried to include all ETFs and ETNs, we do not
guarantee the completeness of such list. S&P Dow Jones Indices does not sponsor, endorse, sell, promote or manage any product linked to our indices.
PRODUCT NAME

PRODUCT TYPE

EXCHANGE

TICKER

Direxion Daily Mid Cap Bear 3X Shares

ETF

NYSE Arca

MIDZ

Direxion Daily Mid Cap Bull 2X Shares

ETF

NYSE Arca

MDLL

Direxion Daily Mid Cap Bull 3X Shares

ETF

NYSE Arca

MIDU

iShares Core S&P Mid-Cap ETF

ETF

NYSE Arca

IJH

ProShares UltraPro MidCap400

ETF

NYSE Arca

UMDD

ProShares UltraPro Short MidCap400

ETF

NYSE Arca

SMDD

S&P 400 MidCap SPDR

ETF

NYSE Arca

MDY

Short Midcap400 ProShares

ETF

NYSE Arca

MYY

SPDR S&P 400 US Mid Cap ETF - A

ETF

Xetra ETF

SPY4 GR

Ultra Midcap400 ProShares

ETF

NYSE Arca

MVV

Ultrashort Midcap 400 Proshares

ETF

NYSE Arca

MZZ

Vanguard S&P Mid-Cap 400 ETF

ETF

NYSE Arca

IVOO

AS OF SEPTEMBER 30, 2015

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S&P MIDCAP 400

Disclaimer
Source: S&P Dow Jones Indices LLC.
The launch date of the S&P 400 was June 19, 1991.
All information presented prior to the index launch date is back-tested. Back-tested performance is not actual performance, but is hypothetical. The
back-test calculations are based on the same methodology that was in effect when the index was officially launched. Past performance is not a
guarantee of future results. Please see the Performance Disclosure at http://www.spindices.com/regulatory-affairs-disclaimers/ for more information
regarding the inherent limitations associated with back-tested performance.
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial 2015. All rights reserved. Redistribution, reproduction and/or photocopying in whole or in
part are prohibited without the written permission of S&P Dow Jones Indices. Standard & Poor's and S&P are registered trademarks of Standard &
Poor's Financial Services LLC ("S&P"), a part of McGraw Hill Financial, Inc. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC
("Dow Jones"). S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates ("S&P Dow Jones Indices") make no representation or
warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and
S&P Dow Jones Indices shall have no liability for any errors, omissions, or interruptions of any index or the data included therein. Past performance of
an index is not an indication of future results. This document does not constitute an offer of any services. All information provided by S&P Dow Jones
Indices is general in nature and not tailored to the needs of any person, entity or group of persons. It is not possible to invest directly in an index. S&P
Dow Jones Indices may receive compensation in connection with licensing its indices to third parties. Exposure to an asset class represented by an
index is available through investable instruments offered by third parties that are based on that index. S&P Dow Jones Indices does not sponsor,
endorse, sell, promote or manage any investment fund or other investment vehicle that seeks to provide an investment return based on the
performance of any Index. S&P Dow Jones Indices LLC is not an investment advisor, and S&P Dow Jones Indices makes no representation regarding
the advisability of investing in any such investment fund or other investment vehicle. For more information on any of our indices please visit www.spdji.
com.

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