Russell US Indexes

The modular index construction of our Russell US Indexes allows tracking of current and historical market performance by market segment or investment style.

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  1. Overview
  2. Ecosystem
  3. Index performance
  4. Key resources
  5. ETPs
  6. Research and Insights
  7. IPO impact
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The Russell US Indexes, from mega cap to microcap, serve as leading benchmarks for institutional investors. The modular index construction allows investors to track current and historical market performance by specific market segment (large/mid/small/microcap) or investment style (growth/value/defensive/dynamic). All sub-indexes roll up to the Russell 3000® Index.

Combining the Russell 3000® Index with the Russell Microcap® Index, the Russell 3000E® Index provides the broadest coverage of investable US equities, which includes up to the 4,000 largest US stocks by total market capitalization as of the reconstitution rank date. The Russell US Indexes can be used as performance benchmarks, or as the basis for index-linked products including index tracking funds, derivatives and Exchange Traded Funds (ETFs).

Following market consultation, FTSE Russell has announced the reconstitution of the Russell US Indexes will change from an annual to a semi-annual schedule in 2026.

Useful links

Russell indexes ecosystem 

Size Russell 1000® (Large Cap) Russell 2000® (Small Cap) Russell 3000® (All Cap) Russell Microcap® Russell 3000E™ (Total Cap) (Launching later in 2026) Russell Top 200® Russell Midcap® Russell 2500™  Russell Top 500 (Launching later in 2026)
Style Growth Value Defensive Dynamic          
Sector and Themes ICB TRBC Exclusions Select Thematic Real Assets      
Screens Earnings Leaders Cash Flow Focus Dividends and Yields Ideal Ratings Islamic ESG and Climate Smart Sustainability      
Coverage Completion Target Sampling Exclusion Custom          
Construction Factor Shareholder Yield Growers Risk-based            
Alternative Weighting Equally weighted Fundamentally weighted Target Diversification Capped          
Geography US States Developed World ex US Emerging Global Country        
Fixed income Credit quality Duration Issuer type Currency          
Derivatives and Overlays Futures Options Covered Calls Decrement Volatility Controlled        
Multi-asset Ultra Cap Target Date Composites            

Index Performance Chart

Index performance

Key resources

Russell Indexes ETPs

Index announcements

Stay up-to-date and read the latest index change notices and announcements.

 

View all index announcements

Research and Insights

Research

A better benchmark for US large caps

We profile the Russell 1000 index, covering modular design, index construction approach, review process, the annual reconstitution, index oversight and governance.

Research

Building a better US equity benchmark: Russell US Indexes

A practical guide to effective market representation.

Research

Enhancing returns on the Russell 2000® Index with securities lending programs

The Russell 2000® Index has been overwhelmingly embraced as the small cap index of choice for measuring the small cap market segment and serving as the basis for the creation of small cap investment products.

Research

Russell 2000® Index: The original benchmark for US small caps

In this paper, we review the long-term investment case for small companies and describe the design and construction methodology of the Russell 2000® Index.

Research

Russell US Indexes - Moving to a Semi-Annual Index Reconstitution Frequency

We analyse FTSE Russell’s decision to transition the frequency of reconstitution of the Russell US Indexes from annual to a semi-annual from 2026.

Research

Russell Texas Equity Index: Adding the geographic dimension

The Russell Texas Equity Index offers investors a geographic dimension to segmenting the US equity market to maximise exposure to high-growth and efficient pockets of the US economy.
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ADVISOR RESOURCES

Visit our Russell US Investor Hub for Wealth Advisors

Explore why your index matters

The IPO impact

Why it matters how your index adds newly public companies

We believe a representative US equity index should reflect the changing nature of the US economy by regularly adding and rebalancing the index to capture the investable opportunity set of innovative companies that drive the US economy and beyond. Newly listed companies are reviewed and added to the Russell indexes quarterly in March, September, and December, together with the complete annual index reconstitution in June. This means that we include major companies that power the US economy in a timely manner, incorporating future equity market winners up to a decade before competitor US equity indexes.

Timing makes a difference

Index composition can affect index performance

How to decide when to add an IPO to indexes

You might assume all indexes automatically add qualified stocks once they've gone public. However, not all indexes do. And unless a stock is included in the index, it can’t have an impact on index performance. Do you know how your index decides when to add new IPOs?

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