Russell Reconstitution

A: FTSE Russell believes indexes are designed to represent the entire investable opportunity set. Because markets continually change, there must be a systematic procedure in place to keep the indexes’ representation of the markets or market segments reflective of new market information. Fully reconstituting the indexes annually plus adding eligible IPOs (initial public offerings) quarterly and applying daily adjustments maintains the representative nature of the Russell US indexes while avoiding the unnecessary turnover a more frequent full reconstitution could cause.

A: Beginning on May 23, preliminary lists are communicated to the marketplace and updates are provided on May 30, June 6, June 13, June 20 and June 27.

The newly reconstituted indexes will take effect after the market close on 27 June 2025.

A: On rank day, all eligible US securities are ranked by their total market capitalization. Companies whose stocks are listed on eligible stock exchanges and who pass investability rules are considered for inclusion in the indexes. On announcement date, preliminary additions and deletions are communicated to the marketplace. Following query period and lockdown, changes to the Russell Indexes are implemented after the close of US markets on the fourth Friday in June.

A: At the June 2024 reconstitution, $124.3 billion and $95.3 billion in US stocks traded in the closing moments of Friday trading on the New York Stock Exchange (NYSE) and Nasdaq exchanges, respectively.

A: View FTSE Russell's complete Russell US Index construction and methodology document for more information.