R3000 Index
Mckenzie Witting
The Russell US Indexes, from mega cap to microcap, serve as leading benchmarks for institutional investors. The modular index construction allows investors to track current and historical market performance by specific market segment (large/mid/small/microcap) or investment style (growth/value/defensive/dynamic). All sub-indexes roll up to the Russell 3000 Index.
Combining the Russell 3000 Index with the Russell Microcap Index, the Russell 3000E Index provides the broadest coverage of investable US equities, which includes up to the 4,000 largest US stocks by total market capitalization as of the reconstitution rank date. The Russell US Indexes can be used as performance benchmarks, or as the basis for index-linked products including index tracking funds, derivatives and Exchange Traded Funds (ETFs).
The Russell US ESG Indexes are a broad-based, alternatively-weighted US equity index family based on the Russell US Indexes. The indexes are designed to measure the performance of megacap to microcap securities that meet an improved index-level ESG profile, while maintaining similar risk/return characteristics to the underlying universe.
The Russell 1000 Index measures the performance of the large-cap segment of the US equity universe. It includes approximately 1,000 largest US stocks, representing 93% of investable US equities by market capitalization.
Inclusion in the Russell 1000 Index is driven by a rigorous, rules-based methodology. The index provides a complete, unbiased measure of US large-cap performance, with no gaps and no overlaps when used in conjunction with the small-cap Russell 2000.
The Russell 3000 Index measures the performance of 3,000 stocks and includes all large-cap, mid-cap and small-cap US equities, along with some microcap stocks. The index is designed to represent approximately 98% of investable US equities by market capitalization.
Investors seeking to capture a strategy reflecting broad US equities performance can confidently choose the Russell 3000 knowing there are no subjective inclusions or exclusions of stocks. Like all Russell Indexes, the Russell 3000 is fully reconstituted once a year to ensure accurate reflection of the targeted market segment.
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The Russell 3000 stock market index tracks the shares of the largest 3,000 publicly traded companies in the United States. Managed by the U.K.-based FTSE Russell Group, the Russell 3000 also serves as the basis for its component Russell 1000 and Russell 2000 indexes.
Financial professionals use the Russell 3000 as a benchmark for investing. It also serves as the foundation for two additional indexes: the Russell 1000, which measures the 1,000 biggest large-cap U.S. companies, and the Russell 2000, which measures the remaining 2,000 mid-cap and small-cap companies.
The day in June when the Russell rebalancing takes place has often been one of the highest-volume trading days of the year, largely thanks to institutional investors and funds that track the Russell indexes adjusting their holdings to reflect the updates.
Every quarter, FTSE Russell Group assesses all newly eligible companies that have had an initial public offering (IPO). This may lead to more than 3,000 companies being listed in the Russell 3000 at any given time.
Since the Russell 3000 tracks the largest publicly traded companies in the U.S, its top 10 stocks by market capitalization are likely familiar to you. As of June 2022, the top Russell 3000 companies are:
FTSE Russell Group offers no ETFs or index funds for investors to purchase directly, though third-party fund companies do. Outside of those, some of the best total stock market index funds are based on the Russell 3000.
Emily Guy Birken is a former educator, lifelong money nerd, and a Plutus Award-winning freelance writer who specializes in the scientific research behind irrational money behaviors. Her background in education allows her to make complex financial topics relatable and easily understood by the layperson. She is the author of four books, including End Financial Stress Now and The Five Years Before You Retire.
The Russell 3000 Index is a capitalization-weighted stock market index that seeks to be a benchmark of the entire U.S. stock market. It measures the performance of the 3,000 largest publicly held companies incorporated in America as measured by total market capitalization, and represents approximately 97% of the American public equity market. The index was launched on January 1, 1984, and is maintained by FTSE Russell, a subsidiary of the London Stock Exchange Group. The ticker symbol on most systems is ^RUA.
The Strategy seeks an investment return that approximates as closely as practicable, before expenses, the performance of its benchmark index (the "Index") over the long term. The Strategy implements a screen that results in the inclusion in, or exclusion from, the Portfolio of securities of issuers based on specific ESG criteria (the "ESG Screen").
The Strategy is managed using an "indexing" investment approach, by which SSGA attempts to approximate, before expenses, the performance of the Index over the long term. Due to the nature of this particular strategy and asset class, it is unlikely SSGA will be able to invest in all of the securities comprising the Index, in approximately the same proportions as they are represented in the Index. As such, SSGA will typically employ a sampling or optimization technique to construct the portfolio in question. SSGA may also utilize other pooled investment vehicles, including those managed by SSGA and its affiliates, as substitutes for gaining exposure to securities or a group of securities in the Index. Securities may include common stocks, preferred stocks, depositary receipts, or other securities convertible into common stock. The Strategy may purchase securities in their initial public offerings ("IPOs").
The ESG Screen is provided by MSCI Inc. (or their successors or assigns) on a quarterly basis and is intended to screen out companies which significantly engage in producing or distributing adult entertainment, tobacco production, gambling, or conventional, biological, chemical or nuclear weapons production; or companies with any tie to abortion or abortifacients, or companies that manufacture contraceptive products, or which have any involvement in manufacturing and distribution of cannabis, or any tie to embryonic or fetal tissue stem cell research, or involvement in the manufacture of depleted uranium weapons, or companies that manufacture cluster munitions, landmines, or civilian firearms; or which have severe controversies or low ratings related to environment, fair lending, workforce diversity, or human rights or labor compliance.
From time to time securities are added to or removed from the Index. SSGA may sell securities that are represented in the Index, or purchase securities that are not yet represented in the Index, prior to or after their removal or addition to the Index.
The Strategy may at times purchase or sell index futures contracts, or options on those futures, or engage in other transactions involving the use of derivatives, in lieu of investment directly in the securities making up the Index or to enhance the Strategy's replication of the Index return. The Strategy's return may not match the return of the Index.
There are risks involved with investing, including possible loss of principal. You should refer to the Strategy's Disclosure Document (SDD) for a complete description of the risks of investing in the Strategy. Please contact SSGA's relationship management team for a copy of the SDD.
Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-800-997-7327, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. The SSGA Funds pay State Street Bank and Trust Company for its services and custodian, transfer agent and shareholder servicing agent and pays SSGA Funds Management, Inc. for investment advisory services.
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