Frank Russell Company introduced three new equity indices that are designed to measure US stock market performance outside of the
S&P 500 Index.
The new series consists of the Russell
Small Cap Completeness Index,
Russell Small Cap Completeness Growth Index and
Russell Small Cap Completeness Value Index.
The three new "completeness" indices measure the performance of companies in the
Russell 3000 Index but exclude companies in the large-cap S&P 500 Index.
"Russell originally created the small-cap completeness indices for clients who used the S&P 500 as a benchmark and wanted to obtain a more complete market exposure without overlapping their holdings," said
Craig Ueland, chief operating officer.
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