Also known as: MVGDX Index (Bloomberg) · MVGDX (MarketVector code)
At a glance
- Review frequencyQuarterly
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 15 fields | |||
| Return variants | Price return, Total return net | The MarketVector™Global Gold Miners Index is calculated as a price return index and a total return net index and has the following identifiers:Open p.9 ↗ |
The index is calculated as a price return index and a total return net index. |
| Dissemination frequency | every 15 seconds | index values are disseminated to data vendors every 15 seconds on days when either the US equity market is open for trading or at least one of the index components is available for trading.Open p.9 ↗ |
Index values are disseminated to data vendors every 15 seconds during the calculation window on eligible days. |
| Index name | MarketVector™ Global Gold Miners Index | The MarketVector™Global Gold Miners Index is a thematic indexes tracking the performance of companies involved in the gold and silver mining industry.Open p.4 ↗ |
The official index name is the MarketVector™ Global Gold Miners Index. |
| Administrator | MarketVector Indexes GmbH | MarketVector Indexes GmbH (the “Index Owner”) makes no warranties or representations as to the accuracy and/or completeness of the IndexesOpen p.1 ↗ |
MarketVector Indexes GmbH is the Index Owner and benchmark administrator. |
| Index family | MarketVector™ Equity Index family | this document provides the rules for establishing, calculating and maintaining the MarketVector™Equity Index family, which is comprised of MVIS®, MarketVector™and BlueStar® IndexesOpen p.1 ↗ |
The index belongs to the MarketVector™ Equity Index family, comprising MVIS, MarketVector and BlueStar indexes. |
| Currency | USD | The index is disseminated in USD.Open p.9 ↗ |
The index is disseminated in USD. |
| Methodology version | 1.03 | Version 1.03 | 09.2026 REGULATION AND DISCLOSURESOpen p.1 ↗ |
The Index Guide version is 1.03. |
| Methodology date | 2026-09 | Version 1.03 | 09.2026 REGULATION AND DISCLOSURESOpen p.1 ↗ |
The methodology guide is dated September 2026. |
| Benchmark type | Not stated | January 1, 2026 1.01 De-scoping under the amended EU BMROpen p.19 ↗ |
The document does not classify the index as regulated, significant, or non-significant; it refers to de-scoping under the amended EU BMR. |
| Objective | The index tracks the performance of companies involved in the gold and silver mining industry. | The MarketVector™Global Gold Miners Index is a thematic indexes tracking the performance of companies involved in the gold and silver mining industry.Open p.4 ↗ |
The index tracks the performance of companies involved in the gold and silver mining industry. |
| Intended use | financial products, Benchmarking | The use of Indexes from the MarketVector Index family in connection with any financial products or for benchmarking purposes requires a license.Open p.1 ↗ |
Use of the index in connection with financial products or for benchmarking requires a license. |
| Market classification | Global | security listings on exchanges in the following countries do not qualify for the index universe: Bahrain, China (domestic market), India, Kuwait, Luxembourg, Oman, Qatar, Russia, Saudi Arabia, United Arab Emirates, and Vietnam.Open p.4 ↗ |
The index is global in scope, subject to specified country and exchange exclusions. |
| Size segment | Custom | full market capitalization exceeding 150.00 million USDOpen p.5 ↗ |
The index uses custom full-market-capitalization thresholds rather than a standard size-segment label. |
| Index family type | Thematic | The MarketVector™Global Gold Miners Index is a thematic indexes tracking the performance of companies involved in the gold and silver mining industry.Open p.4 ↗ |
The MarketVector Global Gold Miners Index is a thematic index. |
| Limitations | The Index Owner makes no warranties or representations as to accuracy or completeness and does not guarantee results from using the indexes. | makes no warranties or representations as to the accuracy and/or completeness of the Indexes and does not guarantee the results obtained by persons using the IndexesOpen p.1 ↗ |
The index owner disclaims warranties regarding accuracy, completeness, and results obtained from using the indexes. |
| M2 Universe · 7 fields | |||
| Thematic revenue screen | New constituents minimum (%): 50; Existing constituents minimum (%): 25; Eligible activities: gold and/or silver mining, gold and/or silver royalties, gold and/or silver streaming, mining mineral resources from gold and/or silver | The index only includes companies with at least 50% (25% for current components) of their: revenues from gold and/or silver: – mining, – royalties, and/or – streaming mining mineral resources from gold and/or silver.Open p.4 ↗ |
Companies must derive at least 50% of revenues, or 25% for current components, from eligible gold and/or silver mining, royalties, streaming, or mineral-resource activities. |
| Foreign investability requirement | Yes | from financial markets that are freely investable for foreign investors and that provide real-time and historical component and currency pricingOpen p.4 ↗ |
Securities must be from financial markets freely investable for foreign investors, unless an eligible exchange listing satisfies the alternative condition. |
| Pricing requirement | real-time component pricing, historical component pricing, real-time currency pricing, historical currency pricing | that provide real-time and historical component and currency pricing, excluding: Limited Partnerships (LPs).Open p.4 ↗ |
The market must provide real-time and historical component and currency pricing, subject to the eligible-listing exception. |
| Markets | Bahrain, China (domestic market), India, Kuwait, Luxembourg, Oman, Qatar, Russia, Saudi Arabia, United Arab Emirates, Vietnam | Bahrain, China (domestic market), India, Kuwait, Luxembourg, Oman, Qatar, Russia, Saudi Arabia, United Arab Emirates, and Vietnam.Open p.4 ↗ |
Listings on exchanges in Bahrain, China's domestic market, India, Kuwait, Luxembourg, Oman, Qatar, Russia, Saudi Arabia, the United Arab Emirates, and Vietnam do not qualify. |
| Exchanges | Paris Euronext Auction, Hamburger Boerse, Boerse Berlin, Oslo Euronext Growth, London Stock Exchange AIM, London Stock Exchange AIMI, London Stock Exchange ASQ1, London Stock Exchange ASQ2, London Stock Exchange ASX1, London Stock Exchange ASXN, London Stock Exchange SFM2, London Stock Exchange SFM3, London Stock Exchange SSQ3, London Stock Exchange SSX3, London Stock Exchange SSX4, London Stock Exchange EQS | Paris Euronext Auction, Hamburger Boerse, Boerse Berlin, Oslo Euronext Growth, London Stock Exchange (AIM, AIMI, ASQ1, ASQ2, ASX1, ASXN, SFM2, SFM3, SSQ3, SSX3, SSX4, EQS).Open p.4 ↗ |
Securities listed on specified exchanges or exchange segments, including Paris Euronext Auction, Hamburger Boerse, Boerse Berlin, Oslo Euronext Growth, and certain London Stock Exchange segments, are not eligible. |
| Security types | Common, Other | The index universe will include only common securities and securities with similar characteristics from financial markets that are freely investable for foreign investorsOpen p.4 ↗ |
The universe includes only common securities and securities with similar characteristics that meet investability and pricing requirements. |
| Exclusions | Limited Partnerships, listings from specified restricted countries, specified ineligible exchanges and exchange segments, markets not freely investable for foreign investors without an eligible listing, markets lacking real-time and historical component and currency pricing without an eligible listing | excluding: Limited Partnerships (LPs).Open p.4 ↗ |
The universe excludes limited partnerships and listings from specified countries, exchanges, or markets that fail foreign-investability or pricing requirements. |
| M3 Eligibility screens · 9 fields | |||
| Trading history for fast track IPOs spinoffs spacs | Minimum value: 2 months; Rule: The security must have been trading since at least the last trading day of the month two months prior to the review month; otherwise it qualifies only at the following scheduled review | if it has been trading since at least the last trading day of the month two months prior to the review month or else at the following regularly scheduled review.Open p.5 ↗ |
Recent IPOs, spin-offs, and post-merger SPACs may use modified fast-track rules if trading since at least the last trading day of the month two months before the review month. |
| IPO spinoff spac requirements | Full market cap USD: 150,000,000; Free float (%): 10; Average daily trading volume USD: 1,000,000; Monthly shares traded: 250,000; Share volume alternative period days: 22 | the IPO must have a full market capitalization exceeding 150.00 million USD, the IPO must have a free-float factor of at least 10%, the IPO must have an average daily trading volume of at least 1.00 million USDOpen p.5 ↗ |
IPOs, newly spun-off companies, and post-merger or acquisition SPACs must meet USD 150 million market cap, 10% free float, USD 1 million ADV, and 250,000 shares traded monthly or per 22 days. |
| Single share class rule | Only one share class per company is eligible, normally the largest by free-float market capitalization. | One share class of each company in the investable universe is included in the eligible universe.Open p.6 ↗ |
One share class of each investable-universe company is eligible; if multiple qualify, the largest share class by free-float market capitalization is selected unless discretion is exercised. |
| Share class replacement threshold | 25% | exceeds the free-float market capitalization of the currently selected share class by at least 25%Open p.6 ↗ |
A non-selected share class replaces the current class if its free-float market capitalization is at least 25% larger and it meets non-component eligibility criteria. |
| Pricing source priority | US price source, UK price source - London Stock Exchange IOB only, home-market price source, most liquid foreign-market price source | 1. US price source,
2. UK price source - London Stock Exchange International Order Book (IOB) only,
3. Home-market price source,
4. Most liquid foreign-market price source.Open p.6 ↗ |
For multiple listings, pricing sources are prioritized as US, UK LSE IOB, home market, and most liquid foreign market. |
| Composite country volume data | Yes | If composite country volume data exists, it will be used to identify the investable universe.Open p.5 ↗ |
If composite country volume data exists, it is used to identify the investable universe. |
| Liquidity screen | Metric: Average daily value; Non components: Three month average daily trading volume USD: 1,000,000; Required quarters: current quarter and previous two quarters; Monthly shares traded: 250,000; Share volume window: last six months; Share volume quarters: current quarter and previous two quarters; Existing components: Three month average daily trading volume USD: 200,000; Required quarters: at least two of the latest three quarters; Alternative: Three month average daily trading volume USD: 600,000; Or monthly shares traded: 200,000; Share volume window: last six months; Required quarters: current quarter or one of previous two quarters | a three-month average daily trading volume of at least 1.00 million USD at the current quarter and at the previous two quarters, and at least 0.25 million shares traded per month over the last six monthsOpen p.5 ↗ (not found verbatim in the PDF) |
Non-components need USD 1 million three-month ADV for the current and prior two quarters and 250,000 shares traded monthly over six months; existing components have lower thresholds and an alternative liquidity test. |
| Minimum size | Metric: Full market cap; Non components threshold USD: 150,000,000; Existing components threshold USD: 75,000,000 | full market capitalization exceeding 150.00 million USDOpen p.5 ↗ |
Non-components must have full market capitalization exceeding USD 150 million, while existing index securities must exceed USD 75 million. |
| Minimum free float | Non components: 10%; Existing components: 5% | All of the following applies for securities that are currently not included in the index: free-float of at least 10%Open p.5 ↗ |
Non-components must have free float of at least 10%, while existing index securities must have free float of at least 5%. |
| M5 Weighting and capping · 3 fields | |||
| Free float adjustment | Method: Free float; Closely held threshold (%): 5; Treatment: Shares outstanding are reduced to exclude closely held shares exceeding 5% of full market capitalization | The indexes are free-float adjusted - the number of shares outstanding is reduced to exclude closely held shares (amount larger than 5% of the company’s full market capitalization) from the index calculation.Open p.10 ↗ |
The indexes are free-float adjusted by reducing shares outstanding to exclude closely held shareholdings larger than 5% of full market capitalization. |
| Foreign ownership and sanctions adjustment | Share counts may be adjusted for foreign ownership limits or sanctions and combined with block-ownership adjustments into a single factor. | At times, other adjustments are made to the share count to reflect foreign ownership limits or sanctions. These are combined with the block-ownership adjustments into a single factor.Open p.10 ↗ |
Foreign ownership limits or sanctions may be reflected through share-count adjustments combined with block-ownership adjustments into one factor. |
| Adjustment double counting rule | Apply either the block-ownership adjustment or restricted-stocks adjustment, whichever produces the higher result. | To avoid unwanted double counting, either the block-ownership adjustment or the restricted stocks adjustment is applied, whichever produces the higher result.Open p.10 ↗ |
To prevent double counting, the block-ownership adjustment or restricted-stocks adjustment is applied based on whichever produces the higher result. |
| M6 Review and rebalance schedule · 8 fields | |||
| Review frequency | Quarterly | Components of the index are reconstituted and rebalanced on a quarterly basis in March, June, September, and December according to the following schedule:Open p.7 ↗ |
Index components are reconstituted and rebalanced quarterly. |
| Review types | Scheduled review | Components of the index are reconstituted and rebalanced on a quarterly basis in March, June, September, and December according to the following schedule:Open p.7 ↗ |
The document describes scheduled quarterly reconstitutions and rebalances; ad hoc corporate-event maintenance is covered separately. |
| Review months | March, June, September, December | Components of the index are reconstituted and rebalanced on a quarterly basis in March, June, September, and December according to the following schedule:Open p.7 ↗ |
Quarterly reviews occur in March, June, September, and December. |
| Data cutoff rule | Selection data cutoff: closing data on the last business day in February, May, August, and November; last available price is used if the security does not trade; Weight data cutoff: closing data as of the Wednesday prior to the second Friday of March, June, September, and December; last available closing data is used if the security does not trade | The eligible universe and component selection is determined based on the closing data on the last business day in February, May, August, and November. If a security does not trade on the last business day in February, May, August, or November, the last available price for this security will be used.Open p.7 ↗ |
Selection uses the last business day's closing data in February, May, August, and November, while weights use closing data on the Wednesday before the second Friday of the review month. |
| Announcement rule | Review and rebalance data are announced on the second Friday of March, June, September, and December. | The underlying review and rebalance data (i.e. weights, shares outstanding, free-float factors, and new weighting cap factors) is announced on the second Friday of March, June, September and December.Open p.7 ↗ |
Weights, shares outstanding, free-float factors, and new weighting-cap factors are announced on the second Friday of each quarterly review month. |
| Effective date rule | Changes are implemented using closing prices as of the third Friday of March, June, September, and December, or the last business day before it if the third Friday is not a business day, and become effective on the next index dissemination day. | Changes will be implemented and based on the closing prices as of the third Friday of March, June, September, and December. If the third Friday is not a business day, the review will take place on the last business day before the third Friday.Open p.7 ↗ |
Quarterly changes are priced at the third Friday review close, moved to the preceding business day when necessary, and take effect on the next dissemination day. |
| Rebalance frequency | Quarterly | Components of the index are reconstituted and rebalanced on a quarterly basis in March, June, September, and December according to the following schedule:Open p.7 ↗ |
Constituents are rebalanced on the same quarterly schedule as reconstitution. |
| Weight reset frequency | Quarterly | The underlying review and rebalance data (i.e. weights, shares outstanding, free-float factors, and new weighting cap factors) is announced on the second Friday of March, June, September and December.Open p.7 ↗ |
Component weights and weighting-cap factors are determined for each quarterly index rebalance. |
| M7 Buffers and turnover control · 2 fields | |||
| Cumulative coverage buffer | Entry threshold (%): 85; Existing constituent retain threshold (%): 98; Metric: cumulative free-float market capitalization coverage of the eligible universe | Securities covering the top 85% of the free-float market capitalization of the eligible universe qualify for selection.Open p.8 ↗ |
Securities in the top 85% of cumulative free-float market capitalization qualify, and current constituents within the 85% to 98% cumulative coverage band also qualify. |
| Target coverage and minimum components | Target free float market cap coverage (%): 90; Minimum components: 25 | The index targets a coverage of 90% of the free-float market capitalization of the eligible universe with a minimum of 25 components.Open p.8 ↗ |
The selection procedure targets 90% free-float market-capitalization coverage with at least 25 components. |
| M8 Corporate actions, IPOs, ad-hoc changes · 11 fields | |||
| Routine corporate action timing | Share or free-float factor changes from corporate actions such as stock dividends, splits, rights issues, and spin-offs are implemented on the ex-date. | Changes to the number of shares or the free-float factors due to corporate actions like stock dividends, splits, rights issues, spin-offs etc. are implemented on the ex-date.Open p.11 ↗ |
Routine corporate-action changes to shares or free-float factors take effect on the ex-date. |
| Ma share change treatment | M&A share changes affect affected MarketVector Equity Index family indexes on the merger effective date without changing the weighting-cap factor, and the 20% share-change restriction does not apply. | Share changes that result from M&As shall impact all indexes of the MarketVector™Equity Index family that contain affected companies on the merger effective date with no weighting cap factor change; the 20% share change restriction is removed.Open p.11 ↗ |
Merger-related share changes are implemented on the merger effective date, do not reset weighting-cap factors, and are exempt from the 20% threshold restriction. |
| Replacement weight rule | The replacement normally receives the deleted security's weight; for a replacement required only because two or more index components merge, it receives its uncapped free-float market-capitalization weight. | The replacement security will be added at the same weight as the deleted security. Only in case the number of components drops below its minimum due to a merger of two or more index components, the replacement security will be added with its uncapped free-float market capitalization weight.Open p.12 ↗ |
Replacements generally inherit the deleted constituent's weight, except replacements after a merger of multiple constituents, which receive uncapped free-float market-capitalization weights. |
| No eligible replacement decision | If component count falls below the minimum and no non-component is eligible, the addition is subject to the Index Owner's decision. | In case the number of index components drops below the minimum component number and no noncomponent security is eligible as a replacement, the determination of the addition is subject to the Index Owner’s decision.Open p.12 ↗ |
The Index Owner decides what security to add when the index falls below its minimum and no eligible replacement exists. |
| Corporate action divisor adjustments | Cash dividend: divisor adjusted for total return indexes only; Special cash dividend: divisor adjusted for price and total return indexes; Split: no divisor change; Rights offering: divisor adjusted; Stock dividend: no divisor change; Stock dividend from treasury: divisor adjusted; Stock dividend of different company security: no divisor change | Cash dividend (for total return indexes only) Divisor change: Yes p(i,adjusted) = pi −(Dividend ∗(1 −Withholding Tax))Open p.16 ↗ |
The corporate-action table specifies divisor treatment for cash dividends, special cash dividends, splits, rights offerings, and various stock dividends. |
| Ad-hoc deletion | Acquisition, Delisting, Prolonged suspension | Securities are deleted from the index at their last traded price. If a security is delisted or suspended from trading before the effective date of the deletion, the last traded price continues to be used until that date.Open p.11 ↗ |
Securities may be removed in connection with mergers or takeovers, and deletion handling also addresses securities that are delisted or suspended before the effective deletion date. |
| Replacement policy | Reserve list | On an ongoing basis, for all corporate events that result in a security deletion from the index, the deleted security will be replaced with the highest ranked non-component on the most recent selection list immediately only if the number of components in the index would drop below 20.Open p.12 ↗ |
A deleted security is replaced immediately with the highest-ranked non-component from the most recent selection list only if deletion would leave fewer than 20 components; otherwise there is no replacement. |
| Merger spinoff rules | For mergers and takeovers, the surviving security remains or is added if eligible and otherwise the target is deleted; share and float changes follow deal terms. A spun-off company is added at zero on the ex-date when its parent is a constituent, uses an indicative price if needed, and is deleted after two trading days if it does not qualify. | If an index component merges with or takes over another index component: The surviving security remains in the index and the other security is deleted immediately from the index. Its shares and float are adjusted according to the terms of the merger/takeover.Open p.11 ↗ |
Merger treatment depends on whether the survivor is an index constituent and meets universe eligibility; spin-offs are temporarily added according to transaction terms and removed after two trading days if ineligible. |
| Deletion price | last traded price; if no active trading occurs on the deletion day and the security is known to cease trading, the closing value reflects the deal terms | Securities are deleted from the index at their last traded price. If a security is delisted or suspended from trading before the effective date of the deletion, the last traded price continues to be used until that date.Open p.11 ↗ |
Deleted merger or takeover securities leave at their last traded price, with deal-term valuation used on a no-trading day when cessation is known in advance. |
| Share or float change threshold | Threshold (%): 20; Below or equal threshold treatment: updated at the quarterly review for specified corporate actions; Above threshold treatment: pre-announced with three trading days' notice and implemented on the first dissemination day of the following month, best effort | Any secondary issuance, share repurchase, buy back, tender offer, Dutch auction, exchange offer, bought deal equity offering or prospectus offering will be updated at the quarterly review if the change is smaller than 20%.Open p.11 ↗ |
Secondary issuances, repurchases, buybacks, tender offers, auctions, exchange offers, bought deals, and prospectus offerings under 20% wait for the quarterly review, while changes over 20% receive three trading days' notice and are implemented on the first dissemination day of the following month. |
| Corporate actions guide ref | Index Guide | 5.5 Changes to the Index Guide Any changes to the Index Guide will be reviewed and approved by the Legal and Compliance Department.Open p.12 ↗ |
The document refers to changes to the Index Guide, but does not identify a separate corporate-actions guide by name. |
| M9 Calculation and return variants · 12 fields | |||
| Unavailable ex-date dividend treatment | If a dividend amount is unavailable on the ex-date, zero is applied; if it becomes available later, no same-day index adjustment is made. | If the dividend amount for an index component is not available on the ex-date, an amount of zero will be applied. If for the same index component the dividend amount is available after the ex-date and applied to the price of this company, there will still be no adjustment to the index on this day either.Open p.10 ↗ |
An unavailable dividend on the ex-date is treated as zero and does not lead to a later same-day index adjustment. |
| Post ex-date dividend adjustment | Japanese and South Korean dividends receive a post ex-date adjustment for the delta between confirmed and estimated dividend amounts, and historical index levels are not restated. | For dividends of Japanese and South Korean companies a post ex-date dividend adjustment is in place due to fact that they do not confirm their dividends prior to the ex-date. The delta amount between the confirmed and estimated dividend amount will be applied by using the index dividend points calculated with the number of shares on the dividend ex-date. In regards to the post ex-date dividend adjustment the historical index levels are not restated.Open p.10 ↗ |
Japanese and South Korean dividend deltas are adjusted after the ex-date without restating historical index levels. |
| Formula type | Divisor | 6.1 Index Formula The index is calculated using the Laspeyres’ formula: ∑n i=1 pi ∗qi ∗ffi ∗cfi ∗fxi = M Index V alue = D . DOpen p.15 ↗ |
The index is calculated using Laspeyres' formula, dividing free-float market capitalization by a divisor. |
| Price source | transaction prices when available and appropriate; otherwise estimated prices, quotes, committed quotes, or other values may be used | the input data shall be transaction data, if available and appropriate. If transaction data is not sufficient or is not appropriate to represent accurately and reliably the market or economic reality that the index is intended to measure, input data which is not transaction data may be used, including estimated prices, quotes and committed quotes, or other values;Open p.14 ↗ |
Transaction data is used when available and appropriate, with estimated prices, quotes, committed quotes, or other values permitted otherwise. |
| Calculation frequency | end-of-day, with missing end-of-day data points recalculated and disseminated | MarketVector Indexes recalculates missing EOD data points and disseminates to vendors and clients.Open p.17 ↗ |
The documented correction policy refers to end-of-day data points, but a real-time calculation interval is not stated in the provided sections. |
| Precision | 3 decimal places | Rounding to 3 decimal places: – index values,Open p.15 ↗ |
Index values are rounded to three decimal places for index calculation. |
| Return variants | PR, NTR | ISIN SEDOL WKN Bloomberg Reuters Price Return Index DE000SL0P4V4 BL56QN4 SL0P4V MVGDX .MVGDX Total Return Net Index DE000SL0P4W2 BL56QK1 SL0P4W MVGDXTR .MVGDXTROpen p.9 ↗ |
The document identifies a Price Return Index and a Total Return Net Index for this index. |
| Withholding tax basis | net dividend equals declared dividend less withholding tax, using the current withholding tax list published on MarketVector's website; Australian withholding tax applies only to the unfranked portion and not to franked or conduit foreign income portions | The total return index includes all dividend payments (for the total return net indexes on a net-dividend basis, i.e., net dividend equals declared dividend less withholding tax, and for the total return gross indexes on a gross-dividend basis, i.e., gross dividend equals declared dividend)Open p.10 ↗ |
Net total return uses declared dividends less withholding tax, with the current tax rates published online and special treatment for Australian franking credits. |
| Dividend treatment | Total return includes all dividends on a net or gross basis depending on the variant; price return includes only special dividends from non-operating income or cash dividends declared special or extraordinary or outside the regular schedule. | The total return index includes all dividend payments (for the total return net indexes on a net-dividend basis, i.e., net dividend equals declared dividend less withholding tax, and for the total return gross indexes on a gross-dividend basis, i.e., gross dividend equals declared dividend) and the price return index only includes special dividends from non-operating income or cash dividends that are either declared as special or extraordinary, or do not coincide with the company’s regular dividend distribution schedule.Open p.10 ↗ |
Total return indexes include all dividends, while the price return index includes only specified special or extraordinary dividends. |
| Divisor adjustment | addition or deletion of a company, merger or takeover, changes in shares outstanding, any constituent change that alters total market value while holding security prices constant, cash dividends or other corporate asset distributions | Index maintenance - reflecting changes in shares outstanding, capital actions, addition or deletion of securities to the index - should not change the level of the index. This is accomplished with an adjustment to the divisor.Open p.15 ↗ |
Divisor adjustments are made for additions and deletions, mergers or takeovers, share changes, value-changing constituent events, and cash or asset distributions; spin-offs do not trigger a divisor change. |
| Market disruption rule | Disruptions are immediately communicated to the calculation or dissemination agent, the agent is prompted to investigate and restart calculation or dissemination, affected clients are notified by email, and missing end-of-day data points are recalculated and redistributed. | The disruption is immediately communicated to the calculation/dissemination agent, if applicable. Calculation/dissemination agent will be asked to investigate the reason for the disruption.Open p.18 ↗ |
During calculation or dissemination disruptions, MarketVector notifies and prompts the relevant agent, emails affected clients, and recalculates missing end-of-day data. |
| Recalculation policy | Incorrect or missing input data is corrected immediately, the calculation agent is notified and asked to investigate, affected clients receive an email with the reason and estimated resolution time, and missing end-of-day data points are recalculated and disseminated. | Incorrect or missing input data will be corrected immediately: The error is immediately communicated to the calculation agent, if applicable. Calculation agent will be asked to investigate the reason for the error.Open p.17 ↗ |
Errors are corrected immediately, the calculation agent and affected clients are informed, and missing end-of-day data points are recalculated and redistributed. |
| M10 Governance, change policy, disclosure · 13 fields | |||
| Rule update right | Index Guide rules may be updated at any time. | The Index Owner reserves the right to update the rules in this Index Guide at any time.Open p.1 ↗ |
The Index Owner reserves the right to update the rules in the Index Guide at any time. |
| Exception right | Exceptions may be made in exceptional or temporary situations. | The Index Owner also reserves the right to make, in exceptional cases or in temporary situations, exceptions to the rules in this Index Guide.Open p.1 ↗ |
The Index Owner may make exceptions to the Index Guide rules in exceptional cases or temporary situations. |
| Methodology approval process | Index Operations analyses the methodology, Independent Oversight Function approves, Management Board gives final approval | The methodology for each index and its methodology covered in this Index Guide has been analysed by the Index Owner’s Index Operations department in order to ensure that it is robust and reliableOpen p.2 ↗ |
Index Operations analyses each methodology, the Independent Oversight Function approves it, and the Management Board gives final approval. |
| Discretion decision standard | Decisions must be reasonable, required, appropriate, commensurate with the index scope and objective, and balanced across user, investor, and market-integrity interests. | The decision on any change must be required, appropriate, commensurable and in line with the respective index scope and objective and must reasonably consider in a balance weight the interest of Users, investors in related products and the integrity of the market.Open p.13 ↗ |
Discretionary decisions must be required, appropriate, commensurate with the index scope and objective, and balanced between users, investors, and market integrity. |
| Material judgement records | Yes | Records are kept about material judgement or discretion by MarketVector Indexes and will include the reasoning for said judgement or discretion.Open p.13 ↗ |
MarketVector keeps records of material judgement or discretion, including the reasoning. |
| Corporate action announcement lead time | 4 days | Corporate actions are announced at least four days prior to implementation.Open p.17 ↗ |
Corporate actions are announced at least four days before implementation; the day-count type is not specified. |
| Regulatory benchmark status | non-significant benchmark; outside the direct scope of the EU Benchmarks Regulation from 2026-01-01 | All indexes administered by MarketVector Indexes GmbH currently qualify as non-significant benchmarks within the meaning of Article 3 (27) of the EU Benchmarks RegulationOpen p.21 ↗ |
MarketVector's indexes currently qualify as non-significant benchmarks and, from 1 January 2026, their administration no longer falls within the direct EU Benchmarks Regulation scope. |
| Oversight body | Independent Oversight Function, Management Board | Each index methodology and the related detailed analysis was presented by the Index Operations Department to the Independent Oversight Function for its approval.Open p.2 ↗ |
The Independent Oversight Function and the Management Board oversee the index methodology and reviews. |
| Discretion points | Input data are or appear qualitatively inferior, Different sources provide different data, An extraordinary event occurs, A situation is not covered by the index rules | In case input data are or appear to be qualitatively inferior or different sources provide different data, an extraordinary event, or a situation is not covered by the index rules, MarketVector Indexes may use or change data/index composition at its own discretion according to the following discretion policy after a plausibility check.Open p.13 ↗ |
MarketVector may use discretion over data or index composition when input data appear inferior, sources conflict, an extraordinary event occurs, or rules do not cover the situation. |
| Methodology review frequency | annually and immediately upon special circumstances | According to IOSCO Principle 10 (Periodic Review), the Index Owner reviews this Index Guide on an annual basis and immediately in case of special circumstances that require a review.Open p.3 ↗ |
The Index Owner reviews the Index Guide annually and immediately when special circumstances require a review. |
| Material change definition | material changes to data or material errors | In case of material changes to data the relevant situation will be analyzed in detail, described and presented to the IOF and discussed and reviewed with the IOF.Open p.13 ↗ |
The document identifies material changes to data as situations requiring detailed analysis and IOF review, and separately refers to material errors, but it does not provide a complete definition of material methodology changes. |
| Error correction policy | Incorrect or missing input data are corrected immediately; the calculation agent is notified and asked to investigate, affected clients are emailed, missing end-of-day data are recalculated and disseminated, and material errors are referred to Legal and Compliance. | Incorrect or missing input data will be corrected immediately: The error is immediately communicated to the calculation agent, if applicable. Calculation agent will be asked to investigate the reason for the error.Open p.17 ↗ |
Errors are corrected immediately, the calculation agent investigates, affected clients are notified by email, missing end-of-day data are recalculated and disseminated, and material errors are reviewed by Legal and Compliance. |
| Change announcement | Vendors, Clients, calculation or dissemination agent, Website | MarketVector Indexes recalculates missing EOD data points and disseminates to vendors and clients.Open p.17 ↗ |
Corrected data are disseminated to vendors and clients, disruptions are communicated to the calculation or dissemination agent, and withholding-tax information is published on the MarketVector website. |
Open points · 27Model-written, for reference
- 1Index short name or abbreviation was not stated.
- 2Index vendor code, ISIN, and Bloomberg/Refinitiv/WIND/local tickers were not included after the identifiers introduction.
- 3Launch date, base date, and base value were not stated.
- 4No explicit benchmark classification as regulated, significant, or non-significant was found.
- 5The document did not provide a general minimum trading-history rule outside the modified IPO, spin-off, and SPAC fast-track process.
- 6Minimum foreign room, minimum voting rights, minimum price, financial screens, ESG screens, suspension rule, and extreme-price screen were not stated.
- 7No parent universe index or nationality-assignment rule was stated.
- 8Selection method, ranking metrics, target constituent count, tie-break rule, industry neutrality rule, and reserve list were not stated.
- 9The exact weighting-scheme enum was not explicitly stated, although the section says the indexes are free-float adjusted.
- 10Single-constituent, group, sector, and country caps were not stated.
- 11Cap application timing, share-count source and update timing, domestic inclusion factors, and divisor adjustment rules were not stated.
- 12No explicit rank buffer, size-segment buffer, existing-constituent liquidity buffer, or maximum turnover cap per review was stated.
- 13No fast-entry rule for large newly listed securities was stated.
- 14The supplied sections do not identify ad hoc deletion triggers specifically for bankruptcy, risk warning, free-float decline, or extreme price movement.
- 15No separate corporate-actions guide title other than the generic term 'Index Guide' was stated.
- 16Profile_m9_m10: model reply contained no JSON object (stop reason=end turn, output tokens=5856); asked again one group at a time
- 17The provided sections do not specify whether the index is calculated in real time or the real-time dissemination interval.
- 18The provided sections do not define specific price-source priorities such as last trade, closing auction, or reference price when no trade occurs.
- 19The provided sections do not state a separate rule for market closure beyond the general calculation and dissemination disruption procedures.
- 20Although the methodology discusses gross total return treatment generally, the index identifier table for this index lists only Price Return and Total Return Net variants.
- 21No explicit external consultation procedure for methodology changes was found.
- 22No specified advance notice period for methodology or constituent changes, other than corporate actions being announced at least four days before implementation, was found.
- 23No frequency for publishing constituent lists was found.
- 24No specific index cessation or discontinuation policy was found.
- 25The document references change process Section 5.5, but that section text was not provided.
- 26The day-count type for the four-day corporate-action announcement lead time is not specified.
- 27Not coveredM4 Selection and constituent count: not covered by this edition
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