SMI Index components | values (CH0009980894)

As a blue-chip index, the Swiss Market Index (SMI) is the most important share index in Switzerland. The index base is 1500 points as of June 30, 1988. In contrast to the DAX, it is a price index, dividends are not included in the index.

The Swiss Market Index (SMI) tracks the 20 largest and most liquid stocks from the SPI large and mid-cap segment. The SMI was normalized to 1500 index points on June 30, 1988. It is primarily available as a non-dividend-adjusted index (price index), but is also published as a performance index under the name SMIC (SMI Cum Dividend). The stocks contained in the SMI currently correspond to around 90 percent of the market capitalization and 90 percent of the trading volume of all Swiss and Liechtenstein equity securities listed on the SIX Swiss Exchange. Since the SMI is considered representative of the Swiss market, it is used as the base value for numerous financial products such as options, futures and index funds.

In order to be included in the SMI, a security must meet strict criteria in terms of liquidity and market capitalization. On the one hand, there must be at least 50 percent of the average SPI liquidity and, on the other hand, a minimum free float capitalization of 0.45 percent of the SPI capitalization. Furthermore, the quarterly ranking based on sales and capitalization is decisive. Since September 24, 2007, the SMI has only contained the fixed number of 20 stocks. Before that, the number fluctuated between 18 shares (1993) and 29 shares (2000). The ranking, measured by the average capitalization and the turnover during the period of one year, is decisive for the affiliation of the companies to the SMI.