The Nasdaq Financial-100 (^IXF) is a stock market index operated by Nasdaq tracking the largest financial services companies such as banks, insurers, mortgage lenders, and securities firms. Established in 1985 as a counterpart to the Nasdaq-100, it provides a sector-focused gauge of financial performance within the broader U.S. equity marketplace.
Overview
Standards for eligibility
To qualify for membership in the index, the following standards must be met:[1]
The index is rebalanced annually in June. Components ranked within the top 100 financial companies remain in the index. If a component is between positions 101 to 125, it is given a year to move into the top 100 of eligible stocks; if it cannot meet this standard, the stock is then dropped. Any component that is not in the top 125 at the time of rebalance is dropped.[1]
All vacancies resulting from acquisitions, delistings, or other corporate actions are filled by the highest ranked eligible company not currently in the index. Unlike the Nasdaq-100, Nasdaq does not publicly announce changes to the Nasdaq Financial-100 in advance.[1]
- It must engage in one of these categories: banking, insurance, security trading, brokerage, mortgages, debt collection, and real estate.
- It must be seasoned on the Nasdaq for a period of three months.
- It must be current in regards to SEC filings.
Components
The following companies are in the index.[2]
- 1) 360 DigiTech
- 2) Ameris Bancorp
- 3) Arch Capital Group
- 4) Atlantic Union Bank
- 5) BancFirst
- 6) The Bancorp, Inc.
- 7) Bank of Hope
- 8) Bank OZK