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S&P 500

EXCHANGE-TRADED PRODUCTS:
About the Index
EXCHANGE-TRADED FUNDS (ETFs) Widely regarded as the best single gauge of the U.S. equities market, this world-renowned
SPDR® index includes 500 leading companies in leading industries of the U.S. economy. Although the
Select Sector SPDRs
iShares S&P 500, Growth & Value
S&P 500 focuses on the large cap segment of the market, with approximately 75% coverage of
iUnits S&P 500 U.S. equities, it is also an ideal proxy for the total market. S&P 500 is part of a series of S&P
Short S&P 500 ProShares
U.S. indices that can be used as building blocks for portfolio construction.
Rydex 2x S&P 500
Horizons BetaPro S&P 500 Bear Plus S&P 500 is maintained by the S&P Index Committee, a team • Financial Viability. Companies should have four consecutive
ProShares UltraPro S&P 500
of Standard & Poor’s economists and index analysts, who quarters of positive as-reported earnings, where as-reported
FUTURES meet on a regular basis. The goal of the Index Committee earnings are defined as GAAP Net Income excluding
S&P 500
is to ensure that the S&P 500 remains a leading indicator of discontinued operations and extraordinary items.
E-Mini S&P 500
U.S. equities, reflecting the risk and return characteristics • Adequate Liquidity and Reasonable Price. The ratio of
S&P 500 Growth & Value
S&P 500 Sector Futures of the broader large cap universe on an on-going basis. The annual dollar value traded to market capitalization for the
Index Committee also monitors constituent liquidity to ensure company should be 0.30 or greater. Very low stock prices
OPTIONS
S&P 500 efficient portfolio trading while keeping index turnover to a can affect a stock’s liquidity.
Select Sector SPDRs minimum. • Sector Representation. Companies’ industry classifications

Index Methodology contribute to the maintenance of a sector balance that is in


Standard & Poor’s does not sponsor, line with the sector composition of the universe of eligible
The S&P Index Committee follows a set of published
endorse, sell or promote any S&P
guidelines for maintaining the index. Complete details of companies with market cap in excess of US$ 3 billion.
index-based investment product.
these guidelines, including the criteria for index additions • Company Type. Constituents must be operating companies.

and removals, policy statements, and research papers are Closed-end funds, holding companies, partnerships,
Contact Us:
available on the Web site at www.indices.standardandpoors. investment vehicles and royalty trusts are not eligible.
index_services@standardandpoors.com
com. These guidelines provide the transparency required and Equity Real Estate Investment Trusts (REITs) and business
New York +1.212.438.2046 development companies (BDCs) are eligible for inclusion.
fairness needed to enable investors to replicate the index and
Toronto +1.416.507.3200
London +44.20.7176.8888 achieve the same performance as the S&P 500. Continued index membership is not necessarily subject to
Tokyo +813.4550.8463 CRITERIA FOR INDEX ADDITIONS these guidelines. The Index Committee strives to minimize
Beijing +86.10.6569.2919
• U.S. Company. Determining factors include location of the unnecessary turnover in index membership and each removal
Sydney +61.2.9255.9870 is determined on a case-by-case basis.
company’s operations, its corporate structure, its accounting
For more information about S&P Indices,
standards and its exchange listings. CRITERIA FOR INDEX REMOVALS
visit our Web site:
• Market Capitalization. Companies with market cap in • Companies that substantially violate one or more of the
www.indices.standardandpoors.com
excess of US$ 3 billion. This minimum is reviewed from criteria for index inclusion.
For comprehensive index data and
time to time to ensure consistency with market conditions. • Companies involved in merger, acquisition, or significant
reporting functionality, visit Standard &
Poor’s Index Data Platform (IDP):
• Public Float. There must be public float of at least 50%. restructuring such that they no longer meet the inclusion
www.sp-indexdata.com criteria.
Leading Measures for
U.S. Markets S&P 500
S&P U.S. Indices
September 30, 2009 S&P Composite 1500
The large cap segment of the U.S. S&P 500 S&P MidCap 400 S&P SmallCap 600
equities market, covering S&P 100
approximately 75% of the U.S. equities S&P 900
market.
S&P 1000

Index Performance 5 Year Historical Performance


Returns 1 Month 3.73% 2500
3 Month 15.61%
YTD 19.26% 2200
Annualized 1 Year -6.91%
Returns 3 Years -5.43% 1900
5 Years 1.02%
7 Years 5.86% 1600
Annualized 3 Years Std Dev 19.68%
Risk 5 Years Std Dev 15.96% 1300
Sharpe Ratio 3 Years -0.3103
5 Years -0.0381 1000
Sep-04 Mar-05 Sep-05 Mar-06 Sep-06 Mar-07 Sep-07 Mar-08 Sep-08 Mar-09 Sep-09

Top 10 Companies By Weight


Float Adjusted Investable
Market Cap Index Sector Weight
Country Company ($ Million) Weight Weight Factor GICS ® Sector
United States Exxon Mobil Corp 329,725.3 3.53% 31.04% 1.00 Energy
United States Microsoft Corp 200,706.7 2.15% 11.60% 0.87 Information Technology
United States General Electric Co 174,492.7 1.87% 12.13% 1.00 Financials
United States JP Morgan Chase & Co 172,325.3 1.85% 13.78% 1.00 Health Care
United States Procter & Gamble 169,062.1 1.81% 15.47% 1.00 Consumer Staples
United States Johnson & Johnson 167,801.5 1.80% 9.70% 1.00 Information Technology
United States Apple Inc. 166,057.6 1.78% 54.21% 1.00 Telecommunication Services
United States AT&T Inc 159,359.0 1.71% 11.08% 1.00 Financials
United States Intl Business Machines Corp 156,794.8 1.68% 9.06% 1.00 Information Technology
United States Bank of America Corp 146,385.0 1.57% 15.73% 1.00 Industrials

Tickers Sector Breakdown Index Portfolio Characteristics


S&P 500 Telecom Svc Utilities Cons Disc Number of Companies 500
BLOOMBERGSM SPX 3.3% 3.8% 9.1% Adjusted Market Cap ($ Billion) 9,336.51
Reuters .SPX Materials Company Size By Market Cap (Adjusted $ Billion):
3.4% Cons Staples
Total Return 11.7% Average 18.67
BLOOMBERGSM SPTR Largest 329.73
Info Tech
Reuters .SPXTR 18.5% Smallest 0.81
Energy
11.4%
Median 7.98
% Weight Largest Company 3.53%
Industrials
Top 10 Holdings (% Market Cap Share) 19.74%
10.0% Financials
Health Care 15.4%
13.4%

Standard & Poor's assumes no responsibility for the accuracy or completeness of the above data and disclaims all express or implied warranties in connection therewith.