Market consultations
FTSE Russell consults the market on the Russell US Indexes Reconstitution
Overview and 2023 schedule
The Russell US Indexes are designed to reflect the ever-changing US equity market, and the annual reconstitution process is critical to maintaining accurate representation.
During this highly anticipated market event, the breakpoints between large, mid and small cap are redefined to ensure market changes that have occurred in the preceding year are captured.
Companies are also revaluated to determine where they lie along the investment styles spectrum.
2023 Reconstitution calendar
April-ranking month
April is “ranking” month when the largest US companies are lined up to form the preliminary Russell US reconstitution portfolio. In 2023, the rank day fell on Friday, April 28.
May- and June-transition months
May is the month that the preliminary reconstitution portfolio begins to be communicated to the marketplace. Beginning on May 19, preliminary lists are communicated to the marketplace and updates are provided on May 26, June 2, June 9, June 16 and June 23.
The newly reconstituted indexes took effect after the market closed on 23 June 2023.
Resources
2023 Final index additions and deletions
Resources
Related links and resources

Read our commentary overviewing the changes made during the 2023 Reconstitution.
Frequently asked questions
Market capitalization ranges
Index membership and rankings are determined using total market capitalizations as of reconstitution rank date.
Market capitalization (USD as of reconstitution rank date)
As of April 28, 2023
Russell US Indexes
Number of securities | High | Low | Medium | |
---|---|---|---|---|
Russell 3000® | 3,019 | $2,684.7B | $195.5M | $2.0B |
Russell 1000® | 1,006 | 2,684.7B | $2.4B | 12.5B |
Russell 2000® | 2,013 | 6.0B | 159.5M | 896.6M |
Russell 2500 | 2,513 | 15.8B | 159.5M | 1.3B |
Russell Midcap® | 810 | 47.0B | 2.4B | 9.7B |
Russell Top 500 | 506 | 2,684.7B | 9.7B | 33.0B |
Russell Top 200® | 196 | 2,684.7B | 37.0B | 83.5B |
Russell Top 50® Mega Cap | 51 | 2,684.7B | 146.0B | 261.2B |
Russell Microcap® | 1,553 | 1.2B | 30.1M | 226.2M |
Russell 3000E | 3,610 | 2,684.7B | 30.1M | 1.2B |
Russell US Indexes - Historical
Russell 3000® | Russell 1000® | Russell 2000® | ||||||
---|---|---|---|---|---|---|---|---|
Largest | Smallest | Largest | Smallest | Smallest w/banding | Largest w/banding | Largest | Smallest | |
2023 | $2,684.7B | $159.5M | $2,684.7B | $4.2B | $2.4B | $6.0B | $4.2B | $159.5M |
2022 | 2,545.6B | 240.1M | 2,545.6B | 4.6B | 2.9B | 6.4B | 4.6B | 240.1M |
2021 | 2,172.9B | 257.1M | 2,172.9B | 5.2B | 3.6B | 7.3B | 5.2B | 257.1M |
2020 | 1,400.5B | 94.8M | 1,400.5B | 3.0B | 1.8B | 4.4B | 3.0B | 94.8M |
2019 | 974.2B | 152.3M | 974.2B | 3.6B | 2.4B | 5.0B | 3.6B | 152.3M |
2018 | 926.9B | 159.2M | 926.9B | 3.7B | 2.5B | 5.0B | 3.7B | 159.2M |
2017 | 813.9B | 143.6M | 813.9B | 3.4B | 2.4B | 4.4B | 3.4B | 143.6M |
2016 | 549.7B | 132.9M | 549.7B | 2.9B | 2.0B | 3.9B | 2.9B | 132.9M |
2015 | 750.5B | 176.7M | 750.5B | 3.4B | 2.4B | 4.3B | 3.4B | 176.7M |
2014 | 545.3B | 168.7M | 545.3B | 3.1B | 2.2B | 4.1B | 3.1B | 168.7M |
2013 | 422.1B | 128.9M | 422.1B | 2.6B | 1.8B | 3.3B | 2.6B | 128.9M |
2012 | 540.2B | 100.7M | 540.2B | 2.0B | 1.4B | 2.6B | 2.0B | 100.7M |
2011 | 411.2B | 130.3M | 411.2B | 2.2B | 1.6B | 3.0B | 2.2B | 130.3M |
2010 | 283.1B | 111.9M | 283.1B | 1.7B | 1.3B | 2.3B | 1.7B | 111.9M |
2009 | 338.4B | 78.3M | 338.4B | 1.2B | 829.2M | 1.7B | 1.2B | 78.3M |
Research and Insights
Request details
Submit your details and one of our Sales experts will be in touch to start the conversation.
If you are an existing client and have a query about your service, contact a Client Service representative at our Help Desk