Russell Reconstitution

Pinpoint change with precision.

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  1. Overview
  2. Resources
  3. FAQs
  4. Market capitalization ranges
  5. Related links
  6. Research and Insights
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Overview

The Russell US Indexes are designed to reflect the ever-changing US equity market, and the reconstitution process is critical to maintaining accurate representation.

Beginning in 2026, the Russell Indexes are reconstituted semi-annually, in June and December. Learn more about the move to a semi-annual reconstitution frequency.

During each reconstitution, the breakpoints between large, mid and small cap are redefined to ensure market changes that have occurred in the preceding period are captured.

Companies are also reevaluated during the June reconstitution to determine where they lie along the investment styles spectrum. During the December reconstitution, style probabilities are updated for new additions or membership movements (such as a stock moving from the Russell 1000® Index to the Russell 2000® Index and vice versa, as well as IPOs).

December 2026 Russell Reconstitution Calendar

October is the second "ranking" month of the year for the Russell US Indexes, when the largest US companies are lined up to form the preliminary Russell US reconstitution portfolio. In 2026, the rank day for the December reconstitution falls on Friday, October 30.

November and December are transition months. Beginning on November 13, the preliminary lists are communicated to the marketplace, and updates are provided on November 20, November 27, and December 4. The newly reconstituted indexes take effect after US market close on December 11.

October

April dates for Russell Reconstitution
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
        1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

 

November

May dates for Russell Reconstitution
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30          

 

December

June dates for Russell Reconstitution
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
    1 2 3 4 5
6 7 8 9 10 11 12
13 14          
             

 

Useful links

Resources

2026 June final index additions and deletions

Russell 3000

2026 Final index additions

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PDF • 953.9KB •

Russell 3000

2026 Final index deletions

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PDF • 986.8KB •

Russell Microcap

2026 Final index additions

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PDF • 957.6KB •

Russell Microcap

2026 Final index deletions

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PDF • 947.4KB •

June 2026 Russell Reconstitution Commentary

Read our overview of the changes made during the June 2026 Reconstitution.

Read the paper

Frequently asked questions

  • A: Preliminary lists for the upcoming December 2026 Reconstitution will be communicated beginning November 13, with updates on November 20, November 27, December 4, and December 11. The newly reconstituted indexes take effect after the market close on December 11, 2026.

    The June 2026 Reconstitution took effect after the market close on June 26, 2026, following the publication of preliminary lists beginning on May 22.

  • 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. Reconstituting the indexes semi 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 reconstitution could cause.

  • 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 and after the close of US markets on the second Friday in December.

  • A: At the June 2026 reconstitution, $219.9 billion and $334.0 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.

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 30, 2026

Russell US Indexes

Russell US Indexes
  Number of Securities High Low Median
Russell 3000® 3,023 $4,849.6B $146.4M $2.6B
Russell 1000® 1,027 $4,849.6B $5.7B $17.4B
Russell 2000® 1,996 $5.7B $146.4M $1.1B
Russell 2500 2,514 $17.4B $146.4M $1.7B
Russell Midcap® 829 $61.7B $5.7B $12.8B
Russell Top 500 509 $4,849.6B $17.5B $45.8B
Russell Top 200® 198 $4,849.6B $62.1B $120.0B
Russell Top 50® Mega Cap 51 $4,849.6B $216.6B $385.1B
Russell Microcap® 1,375 $1.1B $30.1M $291.9M
Russell 3000E™ 3,471 $4,849.6B $30.1M $1.8B

Russell US Indexes - Historical

Russell US Indexes - Historical
  RUSSELL 3000® RUSSELL 1000® RUSSELL 2000®
  Largest Smallest Largest Smallest Smallest Largest Largest Smallest
w/banding w/banding
June 2026 $4,849.6B $146.4M $4,849.6B $5.7B $2.7B $9.6B $5.7B $146.4M
2025 $3,192.2B $119.4M $3,192.2B $4.6B $2.0B $7.4B $4.6B $119.4M
2024 2,893.6B 150.4M 2,893.6B 4.6B 2.4B 7.1B 4.6B 150.4M
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 1,400.50 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

Related links and resources

US index methodology

FTSE Russell provides float-adjusted, market capitalization–weighted indices for a precise picture of the market.

Download
PDF • 729.0KB •

Benefits of Russell US Indexes

The index to which your ETP is benchmarked makes a difference in how well you can capture your strategy – and how your index behaves in various market conditions.

Index announcements

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

Russell Indexes Ecosystem

The Russell US Indexes suite offers a comprehensive modular framework for clients and partners that represents the US investable opportunity set.

Download
PDF • 434.6KB •

Research and Insights

RESEARCH PAPER

Four Decades of Russell Indexes Reconstitution

We show how the Russell US indexes are fully reconstituted each June, helping reflect the current state of the US equity market, including its size and style segments.

RESEARCH PAPER

How we built a better US equity benchmark

In this paper, we cover the history and heritage of the Russell US Indexes since their inception in 1984 and discuss how the indexes were designed to fill a gap among US equity benchmarks.

RESEARCH PAPER

Composition changes of the Russell Indexes over 40 years

The 40th anniversary of the Russell indices gives us the opportunity to review how the indices have changed over this period. In this paper we find that the indices closely mirror changes in the underlying US economy, indicating that they are representative of the broader economy.

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