Also known as: MVGDXJ Index (Bloomberg) · MVGDXJ (MarketVector code)
At a glance
- Weighting schemeFree float market cap
- Review frequencySemi-annual
- Buffer60 / 99
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 12 fields | |||
| Return variants | Price return, Net total return | The MVIS® Global Junior Gold Miners Index is calculated as a price return index and a total return net indexOpen p.9 ↗ |
The index is calculated as a price return index and a net total return index. |
| Licensed uses | 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 benchmarking requires a license. |
| Index name | MVIS Global Junior Gold Miners Index | The MVIS® Global Junior Gold Miners Index is a thematic index tracking the performance of small-cap companies involved in the gold and silver mining industry.Open p.4 ↗ |
The official index name is the MVIS Global Junior 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, which comprises MVIS, MarketVector and BlueStar indexes. |
| Currency | USD | The index is disseminated in USD.Open p.9 ↗ |
The index is disseminated in US dollars. |
| Methodology version | 1.05 | Version 1.05 | 09.2026 REGULATION AND DISCLOSURESOpen p.1 ↗ |
The index guide version is 1.05. |
| Methodology date | 2026-09 | Version 1.05 | 09.2026 REGULATION AND DISCLOSURESOpen p.1 ↗ |
The index guide is dated September 2026. |
| Objective | Thematic index tracking the performance of small-cap companies involved in the gold and silver mining industry. | The MVIS® Global Junior Gold Miners Index is a thematic index tracking the performance of small-cap companies involved in the gold and silver mining industry.Open p.4 ↗ |
The index tracks the performance of small-cap companies involved in the gold and silver mining industry. |
| Market classification | Global | The MVIS® Global Junior Gold Miners Index is a thematic index tracking the performance of small-cap companies involved in the gold and silver mining industry.Open p.4 ↗ |
The index is a global index. |
| Size segment | Small | tracking the performance of small-cap companies involved in the gold and silver mining industry.Open p.4 ↗ |
The index targets small-cap companies. |
| Index family type | Thematic | The MVIS® Global Junior Gold Miners Index is a thematic index tracking the performanceOpen p.4 ↗ |
The index is classified as a thematic index. |
| M2 Universe · 10 fields | |||
| Eligible universe screen full market cap | Metric: Full market cap; Threshold: 50; Currency: USD; Applies to: index universe | Only securities that have a full market capitalization exceeding 50.00 million USD are included in theOpen p.4 ↗ |
Only securities with full market capitalization exceeding 50 million USD are included in the index universe. |
| Foreign investability requirement | Yes | securities with similar characteristics from financial markets that are freely investable for foreign investorsOpen p.4 ↗ |
Securities must be from financial markets freely investable for foreign investors, unless an eligible exchange listing meets all requirements. |
| Pricing data requirement | Yes | that provide real-time and historical component and currency pricing, excludingOpen p.4 ↗ |
Securities must provide real-time and historical component and currency pricing, subject to the eligible-listing exception. |
| Pure play revenue threshold new components | Threshold: 50%; Applies to: new or non-current companies | The index only includes companies with at least 50% (25% for current components) of their: revenues from gold and/or silverOpen p.4 ↗ |
Companies must derive at least 50% of revenues from gold and/or silver mining, royalties, streaming, or mining mineral resources. |
| Pure play revenue threshold current components | Threshold: 25%; Applies to: current components | The index only includes companies with at least 50% (25% for current components) of their: revenues from gold and/or silverOpen p.4 ↗ |
Current components remain eligible under a 25% revenue threshold for gold and/or silver mining, royalties, streaming, or mining mineral resources. |
| 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, domestic China, India, Kuwait, Luxembourg, Oman, Qatar, Russia, Saudi Arabia, the United Arab Emirates, and Vietnam do not qualify for the index universe. |
| 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. |
| Boards | AIM, AIMI, ASQ1, ASQ2, ASX1, ASXN, SFM2, SFM3, SSQ3, SSX3, SSX4, EQS, Euronext Auction, Euronext Growth | 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 ↗ |
The named auction, growth, AIM, and London Stock Exchange segments are excluded exchange segments. |
| Security types | Common | The index universe will include only common securities and securities with similar characteristics from financial marketsOpen p.4 ↗ |
The index universe includes only common securities and securities with similar characteristics. |
| Exclusions | Limited Partnerships, listings on exchanges in specified ineligible countries, securities listed on specified ineligible exchanges or 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). Only securities that have a full market capitalization exceeding 50.00 million USD are included in theOpen p.4 ↗ |
The universe excludes limited partnerships and specified country, exchange, foreign-investability, and pricing-data listings unless an eligible listing satisfies the requirements. |
| M3 Eligibility screens · 10 fields | |||
| 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. |
| IPO spin off spac modified rules | Applies to: recent IPOs, spin-offs, post-merger or post-acquisition SPACs; Fast track opportunities: Once; Trading history: Minimum value: 2 months; Full market cap: 150; Market cap unit: million USD; Free float (%): 10; Average daily trading value: 1; Adv unit: million USD; Minimum shares per month: 0.25; Shares unit: million shares; Alternative per days: 22 | Modified investability rules are applied for recent Initial Public Offerings (IPOs), spin-offs and postmerger/acquisition Special Purpose Acquisition Companies (SPACs).Open p.5 ↗ |
Recent IPOs, spin-offs, and post-merger or acquisition SPACs may use modified investability rules and receive one fast-track opportunity after meeting the two-month trading and eligibility tests. |
| One share class per company | Yes | One share class of each company in the investable universe is included in the eligible universe.Open p.6 ↗ |
Only one share class of each company is included in the eligible universe. |
| Share class selection | largest by free-float market capitalization, with discretionary exception for significantly higher liquidity | only the largest share class by free-float market capitalization qualifies for the eligible universe. In exceptional cases (e.g. significantly higher liquidity), the Index Owner can decide for a different share class.Open p.6 ↗ |
When multiple share classes qualify, the largest share class by free-float market capitalization is selected, subject to exceptions such as significantly higher liquidity. |
| Share class replacement threshold | Threshold: 25%; Metric: Free float market capitalization | In case the free-float market capitalization of a currently not included share class of an index component 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 exceeds the selected class by at least 25% and it meets non-component eligibility criteria. |
| Pricing source priority | US price source, UK price source - London Stock Exchange International Order Book 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 ↗ |
Eligible price sources are prioritized as US, UK IOB, home-market, and then most liquid foreign-market sources. |
| Single exchange price source rule | Only the most liquid single exchange price source within the country qualifies for the eligible universe. | Once a company has qualified for the investable universe, only the most liquid single exchange price source within the country qualifies for the eligible universe.Open p.6 ↗ |
After qualification, only the most liquid single exchange price source within a country qualifies, subject to exceptional alternative assignments. |
| Liquidity screen | Non components: Metric: Average daily value; Window: three months; Threshold: 1 million USD; Quarters required: current quarter and previous two quarters, Metric: Shares traded; Window: per month over last six months; Threshold: 0.25 million shares; Quarters required: current quarter and previous two quarters; Existing components: Metric: Average daily value; Window: three months; Threshold: 0.2 million USD; Quarters required: at least two of latest three quarters, Metric: Average daily value; Window: three months; Threshold: 0.6 million USD; Quarters required: current quarter or one of previous two quarters, Metric: Shares traded; Window: per month over last six months; Threshold: 0.2 million shares; Quarters required: current quarter or one of previous two quarters; Buffer for existing: Existing components use lower thresholds and must satisfy the base test plus at least one additional condition | 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 ↗ |
Non-components need three-month ADV of at least USD 1 million and 0.25 million shares traded monthly, while existing components use lower continuing-eligibility thresholds. |
| Minimum size | Non components: Metric: Full market cap; Threshold: 150 million USD; Existing components: Metric: Full market cap; Threshold: 75 million USD | full market capitalization exceeding 150.00 million USDOpen p.5 ↗ |
Non-components must have full market capitalization exceeding USD 150 million, while existing components must exceed USD 75 million. |
| Minimum free float | Non components: 10%; Existing components: 5% | free-float of at least 10%Open p.5 ↗ |
Non-components must have free float of at least 10%, while existing components must have free float of at least 5%. |
| M5 Weighting and capping · 5 fields | |||
| Closely held share threshold | 5% | 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 ↗ |
Share holdings larger than 5% of a company's full market capitalization are treated as closely held shares and excluded from the free-float-adjusted share count. |
| Foreign ownership or sanctions adjustment | Combined factor with block ownership higher adjustment used | 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 ↗ |
Adjustments for foreign ownership limits or sanctions are combined with block-ownership adjustments into one factor, and either block ownership or restricted stock adjustment is used, whichever is higher, to avoid double counting. |
| Weighting scheme | Free float market cap | The indexes are free-float adjusted - the number of shares outstanding is reduced to exclude closely held sharesOpen p.10 ↗ |
The indexes are free-float adjusted in their index calculations. |
| Free float factor | Method: Free float | 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 free-float factor is calculated by reducing shares outstanding to exclude closely held holdings above 5%, with no banding table stated. |
| Foreign ownership limit | Share count adjustment combined with block ownership using higher 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 may be reflected through share-count adjustments, combined with block ownership into one factor, using the higher of the block-ownership or restricted-stock adjustment. |
| M6 Review and rebalance schedule · 8 fields | |||
| Review frequency | Semi-annual | Components of the index are reconstituted on a semi-annual basis in March and September and are rebalanced on a quarterly basis in March, June, September, and December according to the followingOpen p.7 ↗ |
Index constituents are reconstituted semi-annually. |
| Review types | Semi annual review, Quarterly review | Components of the index are reconstituted on a semi-annual basis in March and September and are rebalanced on a quarterly basis in March, June, September, and December according to the followingOpen p.7 ↗ |
The index has semi-annual reconstitutions and quarterly rebalancings. |
| Review months | March, June, September, December | Components of the index are reconstituted on a semi-annual basis in March and September and are rebalanced on a quarterly basis in March, June, September, and December according to the followingOpen p.7 ↗ |
Semi-annual reconstitutions occur in March and September, and quarterly rebalancings occur in March, June, September, and December. |
| Data cutoff rule | Selection data: closing data on the last business day in February and August; Nontrading selection price: last available price; Weighting data: closing data as of the Wednesday prior to the second Friday of March, June, September, and December; Nontrading weighting data: last available closing data | The eligible universe and component selection is determined based on the closing data on the last business day in February and August. If a security does not trade on the last business day in February or August, the last available price for this security will be used.Open p.7 ↗ |
Constituent selection uses closing data on the last business day of February and August, while weights use closing data on the Wednesday before the second Friday of each rebalance month; last available closing data is used for non-trading securities. |
| Announcement rule | Underlying 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 March, June, September, and December. |
| Effective date rule | Changes are implemented based on closing prices as of the third Friday of March, June, September, and December 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 ↗ |
Changes use the third Friday's closing prices, or the prior business day's prices if the third Friday is not a business day, and take effect on the next index dissemination day. |
| Rebalance frequency | Quarterly | Components of the index are reconstituted on a semi-annual basis in March and September and are rebalanced on a quarterly basis in March, June, September, and December according to the followingOpen p.7 ↗ |
The index is rebalanced quarterly. |
| Weight reset frequency | Quarterly | Upon an index rebalance, components selected to the index will be weighted according to a modified float-adjusted market cap weighting strategy.Open p.8 ↗ |
Component weights are reset at each quarterly rebalance, using a special scheme in quarters without reconstitution. |
| M7 Buffers and turnover control · 1 field | |||
| Buffer zone | Entry rank: 60%; Exit rank: 99% | Companies covering the top 60% of the full market capitalization are excluded. Only companies ranking between 60% and 98% qualify for the selection. However, current components ranking between 55% and 60% or 98% and 99% also qualify for the selection.Open p.8 ↗ |
New entrants must rank between the 60th and 98th percentiles by full market capitalization, while current constituents ranking from the 55th to 60th percentiles or from the 98th to 99th percentiles also remain eligible. |
| M8 Corporate actions, IPOs, ad-hoc changes · 10 fields | |||
| Corporate action share change ex-date rule | Changes in shares or free-float factors from stock dividends, splits, rights issues, spin-offs, and similar corporate actions 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 ↗ |
Share and free-float changes from specified corporate actions take effect on the ex-date. |
| Merger share change rule | Share changes resulting from M&A are implemented on the merger effective date, with no weighting cap factor change and without applying the 20% share-change restriction. | 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 ↗ |
M&A-driven share changes occur on the merger effective date and bypass the 20% threshold and weighting cap factor change restriction. |
| Replacement weight rule | A normal replacement receives the deleted security's weight; after a merger of multiple index components causing the count to fall below the minimum, the replacement 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 ↗ |
Replacement additions normally inherit the deleted security's weight, except replacements following a merger of multiple constituents, which receive uncapped float-adjusted market-capitalization weights. |
| No replacement weight handling | When no replacement is made, the deleted security's weight is redistributed proportionally across all other constituents. | In all other cases, i.e. there is no replacement. The additional weight resulting from the deletion will be redistributed proportionally across all other index constituents.Open p.12 ↗ |
If a deletion does not trigger a replacement, the freed weight is distributed proportionally among remaining constituents. |
| Ineligible replacement discretion | If the component count falls below the minimum and no eligible non-component is available, the Index Owner decides what security to add. | 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 determines an addition when the index is below its minimum component count and no eligible replacement exists. |
| Ad-hoc deletion | Acquisition, Delisting, Prolonged suspension | 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 between reviews in merger or takeover situations and when they are delisted or suspended before the deletion effective 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 immediately replaced by the highest-ranked non-component on the most recent selection list only if the number of components would fall below 20. |
| Merger spinoff rules | Merger success definition: Wholly unconditional and approved by all regulatory agencies with jurisdiction; Two components stock terms: The surviving security remains and the other is deleted immediately; shares and float are adjusted to deal terms; External acquirer stock terms eligibile: The eligible surviving security replaces the deleted index component; External acquirer stock terms ineligible: The current component is deleted immediately and the survivor is not added; Cash terms: The index component is deleted; Spinoff: A spun-off company is added at zero on the ex-date where the parent is a constituent, using an indicative price if needed, and deleted after two trading days if ineligible | A merger or takeover is deemed successful if it has been declared wholly unconditional and has received approval of all regulatory agencies with jurisdiction over the transaction.Open p.11 ↗ |
Mergers are effective once unconditional and fully approved; merger treatment depends on whether the acquirer is in the index, whether consideration is stock or cash, and whether the survivor meets universe requirements. Spin-offs are added temporarily at zero or an indicative price and removed after two trading days if ineligible. |
| Deletion price | Last traded price; if no active trading occurs and cessation was announced, the closing value reflects the transaction's 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 ↗ |
Securities deleted in mergers or takeovers leave at their last traded price, with deal terms used for valuation on a no-trading day when the security is known to be ceasing trading. |
| Share or float change threshold | Threshold: 20% | 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 ↗ |
Share or float changes below 20% from specified corporate actions are updated at the quarterly review, while changes above 20% are announced with three trading days' notice and implemented on the first dissemination day of the following month. |
| M9 Calculation and return variants · 13 fields | |||
| Franked dividend withholding tax rule | Withholding tax applies only to the unfranked portion of Australian dividends and not to franked portions or unfranked conduit foreign income | Withholding tax will only be applied on the unfranked portion of the dividend but not on the franked portion of the dividend or unfranked portion of the dividend declared to be conduit foreign income.Open p.10 ↗ |
For Australian dividends, withholding tax is applied only to the unfranked portion and not to franked portions or conduit foreign income. |
| Post ex-date dividend adjustment | Applies to Japanese and South Korean company dividends using the delta between confirmed and estimated dividends and index dividend points based on ex-date share count; historical 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.Open p.10 ↗ |
Japanese and South Korean dividends receive a post ex-date adjustment for the confirmed-versus-estimated delta without restating historical index levels. |
| 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. |
| Formula type | Divisor | 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 a Laspeyres formula with a divisor. |
| Price source | transaction data where available and appropriate; otherwise non-transaction data such as estimated prices, quotes or committed quotes 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 valuesOpen p.14 ↗ |
Input data must be transaction data when available and appropriate, but estimated prices, quotes, committed quotes or other values may be used when transaction data are insufficient or inappropriate. |
| Calculation frequency | Includes end-of-day calculation; real-time interval not stated | MarketVector Indexes recalculates missing EOD data points and disseminates to vendors and clients.Open p.17 ↗ |
The document describes missing end-of-day data recalculation but does not state a real-time calculation interval. |
| Precision | 3 decimal places | Rounding to 3 decimal places: – index valuesOpen p.15 ↗ |
Index values are rounded to three decimal places for index calculation. |
| Return variants | PR, NTR | Price Return Index DE000A1A4ZV8 B4MS195 A1A4ZV MVGDXJ .MVGDXJ Total Return Net Index DE000A1A4ZW6 B4MS0R6 A1A4ZW MVGDXJTR .MVGDXJTROpen p.9 ↗ |
The index family table identifies a Price Return Index and a Total Return Net Index. |
| Withholding tax basis | Net dividend equals declared dividend less withholding tax; current withholding tax rates are published on the MarketVector website | for the total return net indexes on a net-dividend basis, i.e., net dividend equals declared dividend less withholding taxOpen p.10 ↗ |
Net total return indexes reinvest dividends after deducting withholding tax, with the current withholding-tax list maintained on MarketVector's website. |
| Dividend treatment | Total return indexes include all dividend payments; price return indexes include only specified special, extraordinary, non-operating-income or off-schedule cash dividends; zero is applied if the dividend amount is unavailable on the ex-date | 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 ↗ |
Total return indexes include all dividends on a net or gross basis, while price return indexes include only qualifying special or extraordinary dividends and use zero when a dividend amount is unavailable on the ex-date. |
| Divisor adjustment | changes in shares outstanding, capital actions, Additions, Deletions, cash dividends for total return indexes, special cash dividends, rights offerings, treasury stock dividends, mergers or takeovers, net free-float market value changes from additions or deletions | 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.Open p.15 ↗ |
The divisor is adjusted for maintenance events and corporate actions that alter free-float market value, including share changes, additions and deletions, specified dividends and rights events, and mergers or takeovers. |
| Market disruption rule | Disruptions in calculation or dissemination are communicated to the relevant agent, investigated, clients are notified by email, restart is requested, and missing end-of-day data are recalculated and disseminated | They are either caused by disruptions in calculation or dissemination, which might affect different servicers. The disruption is immediately communicated to the calculation/dissemination agent, if applicable.Open p.17 ↗ |
During calculation or dissemination disruptions, MarketVector notifies and asks the relevant agent to investigate and restart service, emails affected clients, and recalculates and disseminates missing end-of-day data. |
| Recalculation policy | Incorrect or missing input data are corrected immediately, errors are communicated to the calculation agent and affected clients, and missing end-of-day data points are recalculated and disseminated; historical index levels are not restated for Japanese or South Korean post ex-date dividend adjustments | Incorrect or missing input data will be corrected immediately: The error is immediately communicated to the calculation agent, if applicable.Open p.17 ↗ |
Errors and missing input data are corrected immediately and communicated, missing end-of-day data are recalculated, but Japanese and South Korean post ex-date dividend adjustments do not restate historical index levels. |
| M10 Governance, change policy, disclosure · 12 fields | |||
| Index owner | 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 administrator of the indexes. |
| Methodology approval process | Index Operations analyzes robustness, reliability, discretion rules, validation and traceability; the Independent Oversight Function approves; the 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 analyzes each methodology before Independent Oversight Function approval and final Management Board approval. |
| Discretion decision standard | Decisions must be necessary, appropriate, commensurate with index scope and objective, and balance user interests, product-investor interests and market integrity; material judgments are recorded with reasons | 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 reasonable, necessary, appropriate and proportionate, balance stakeholder interests and market integrity, and material judgments must be documented with reasons. |
| Significant discretion signoff | Significant discretionary decisions require supervisor sign-off | Significant decisions are subject to sign-off by a supervisor.Open p.13 ↗ |
A supervisor must sign off on significant discretionary decisions. |
| Rule update after discretion | If applicable, index rules may be updated to avoid individual decisions in similar future cases | In order to avoid individual decisions on the use of data in similar cases for the future an update of the index rules can be taken into consideration if applicable.Open p.13 ↗ |
MarketVector may update index rules after discretionary cases to promote consistency in similar future situations. |
| Regulatory status | All indexes currently qualify as non-significant benchmarks under EU Benchmarks Regulation and fall outside its direct scope from 1 January 2026, while MarketVector continues applying BMR-derived frameworks and IOSCO principles | 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 ↗ |
The indexes are non-significant benchmarks and outside direct EU Benchmarks Regulation scope from 1 January 2026, but MarketVector continues applying its benchmark governance frameworks and IOSCO principles. |
| 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 ↗ |
Methodologies are presented to the Independent Oversight Function for approval and then to the Management Board for final approval, and annual reviews are attended by both bodies. |
| Discretion points | input data are or appear qualitatively inferior, different sources provide different data, extraordinary events, situations not covered by the index rules, changes to liquidity and size data, changes to ownership structures, changes to revenue and asset breakdowns, changes to corporate action information, changes to dividends, volatility or other secondary data, trading stops, regulatory actions, detection of fraud, tradability issues, temporary or exceptional exceptions to the Index Guide | 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 discretionOpen p.13 ↗ |
MarketVector may exercise discretion for deficient or conflicting input data, extraordinary events, uncovered situations, specified data categories, trading stops, regulatory actions, fraud or tradability issues, and may make exceptional or temporary rule exceptions. |
| Methodology review frequency | annual, and immediately when special circumstances require a review | 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 Guide is reviewed annually and immediately if special circumstances require a review. |
| Material change definition | The document does not define material changes; it states that material data changes are analyzed, described, presented to, discussed with and reviewed by the Independent Oversight Function | 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 ↗ |
No material-change definition is provided, but material changes to data receive detailed analysis and Independent Oversight Function review. |
| Error correction policy | Incorrect or missing input data are corrected immediately, the calculation agent is notified and asked to investigate, affected clients receive an email with the reason and estimated resolution time, 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.Open p.17 ↗ |
MarketVector immediately corrects and communicates data errors, investigates through the calculation agent, emails affected clients, recalculates missing end-of-day data, and has Legal and Compliance review material errors. |
| Change announcement | MarketVector website, Vendors, Clients | For the most recent list of withholding taxes, please refer to our website (www.marketvector.com/withholding-taxes).Open p.10 ↗ |
Withholding-tax information is published on MarketVector's website, and recalculated end-of-day data are disseminated to vendors and clients. |
Open points · 25Model-written, for reference
- 1Index short name or ticker abbreviation is not stated.
- 2Index vendor code, ISIN, and third-party data-vendor tickers are not included in the provided identifier text.
- 3Launch date, base date, and base value are not stated.
- 4Calculation agent is not named beyond a statement that an index calculator was selected.
- 5Parent index or parent universe index is not identified.
- 6Benchmark regulatory status (regulated, significant, non-significant, or not stated) is not explicitly classified.
- 7The document does not provide a general minimum trading-history rule outside the special IPO, spin-off, and SPAC fast-track provisions.
- 8Minimum foreign room, minimum voting rights, minimum share price, financial screens, ESG exclusions, suspension treatment, and abnormal price-rise screening are not stated.
- 9No complete inclusive list of markets covered is provided; the text lists ineligible country exchange markets rather than all eligible countries.
- 10Intended-use examples beyond licensing for financial products and benchmarking are not specified.
- 11Selection method, ranking metrics, target constituent count, tie-break rule, industry neutrality rule, and reserve list are not stated.
- 12Free-float factor bands, domestic inclusion factor, single constituent cap, group cap, sector cap, country cap, cap timing, shares-outstanding source, and divisor adjustment rule are not stated.
- 13No explicit fast-entry rule for large newly listed securities was found.
- 14No liquidity buffer specifically for existing constituents was found.
- 15No maximum turnover cap per review was found.
- 16No separate corporate-actions guide name was referenced.
- 17Ad hoc deletion triggers beyond merger or takeover, delisting, and suspension were not specified.
- 18No explicit real-time calculation interval or closing price convention (last trade, closing auction, or no-trade reference price) was stated.
- 19No external consultation procedure or public consultation requirement was stated.
- 20No advance notice period for methodology changes was stated; the four-day announcement period concerns corporate actions, not methodology changes.
- 21No definition of a material methodology change was stated; only handling of material data changes was described.
- 22No constituent-list publication frequency or publication channel was stated.
- 23No index cessation or discontinuation policy was stated.
- 24The unit for the four-day corporate-action announcement lead time is stated only as days, with no specification of calendar, business or trading days.
- 25Not coveredM4 Selection and constituent count: not covered by this edition
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