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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