Also known as: SOLSDIV Index (Bloomberg) · DE000SLA0SD9 (Solactive code) · .SOLSDIV (RIC)
At a glance
- Weighting schemeEqual
- Review frequencyQuarterly
- Constituent count100
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 18 fields | |||
| Return variants | Net total return, Price return | *NTR and PR mean that the Index is calculated as a net total return and price return Index as described in the Equity Index MethodologyOpen p.4 ↗ |
The index is published in net total return and price return versions. |
| Rebalancing frequency | Quarterly | Regional Allocation Global Markets Rebalancing Fee - Rebalancing Frequency QuarterlyOpen p.4 ↗ |
The index rebalances quarterly. |
| Trademark license | SuperDividend™ is a trademark of Global X Management Company LLC and licensed to Solactive. | Solactive has been granted a license by Global X Management Company LLC to use SuperDividend™. SuperDividend™ is a trademark of Global X Management Company LLC.Open p.1 ↗ |
Solactive is licensed by Global X Management Company LLC to use the SuperDividend trademark. |
| Index name | Solactive Global SuperDividend™ Index | Solactive Global DE000SLA0SD9 USD NTR* .SOLSDIV SOLSDIV Index SuperDividend™ IndexOpen p.4 ↗ |
The official index name is Solactive Global SuperDividend™ Index. |
| Index short name | SOLSDIV | Name ISIN Currency Type RIC BBG ticker Solactive Global DE000SLA0SD9 USD NTR* .SOLSDIV SOLSDIV Index SuperDividend™ IndexOpen p.4 ↗ |
The index's Bloomberg ticker is SOLSDIV Index and RIC is .SOLSDIV. |
| ISIN | DE000SLA0SD9, DE000SLA8DP8 | Solactive Global DE000SLA0SD9 USD NTR* .SOLSDIV SOLSDIV Index SuperDividend™ Index Solactive Global DE000SLA8DP8 USD PR* .SOLSDIVP SOLSDIVP Index SuperDividend™ Index (Price)Open p.4 ↗ |
The net total return index has ISIN DE000SLA0SD9 and the price return index has ISIN DE000SLA8DP8. |
| Vendor codes | Bloomberg: SOLSDIV Index, SOLSDIVP Index; Refinitiv: .SOLSDIV, .SOLSDIVP | Name ISIN Currency Type RIC BBG ticker Solactive Global DE000SLA0SD9 USD NTR* .SOLSDIV SOLSDIV Index SuperDividend™ Index Solactive Global DE000SLA8DP8 USD PR* .SOLSDIVP SOLSDIVP Index SuperDividend™ Index (Price)Open p.4 ↗ |
Bloomberg tickers are SOLSDIV Index and SOLSDIVP Index; RICs are .SOLSDIV and .SOLSDIVP. |
| Administrator | Solactive AG | Solactive AG German Index Engineering Platz der Einheit 1 60327 Frankfurt am Main GermanyOpen p.18 ↗ |
Solactive AG is the index administrator. |
| Index family | Solactive Global SuperDividend | SOLACTIVE GLOBAL SUPERDIVIDEND™ INDEXOpen p.1 ↗ |
The index belongs to the Solactive Global SuperDividend family. |
| Base date | 2011-07-06 | The INDEX is based on 100 at the close of trading on the START DATE, 07/06/2011.Open p.4 ↗ |
The index start date is 07/06/2011. |
| Base value | 100 | The INDEX is based on 100 at the close of trading on the START DATE, 07/06/2011.Open p.4 ↗ |
The index was based on 100 at the close of trading on its start date. |
| Currency | USD | Solactive Global DE000SLA0SD9 USD NTR* .SOLSDIV SOLSDIV Index SuperDividend™ IndexOpen p.4 ↗ |
The index is calculated in USD. |
| Methodology version | 6.0 | 6.0 03 June 2024 Change section 2.4 + 3.1 to Share Fixing Multi-Day RebalanceOpen p.17 ↗ |
The methodology version is 6.0. |
| Methodology date | 2024-06-03 | 6.0 03 June 2024 Change section 2.4 + 3.1 to Share Fixing Multi-Day RebalanceOpen p.17 ↗ |
Version 6.0 is dated 03 June 2024. |
| Objective | Representation of top 100 global high dividend-yield stocks. | Asset Class Equity Strategy Representation of top 100 global high dividend-yield stocks. Regional Allocation Global MarketsOpen p.4 ↗ |
The strategy represents the top 100 global high-dividend-yield stocks. |
| Market classification | Global | Regional Allocation Global Markets Rebalancing Fee - Rebalancing Frequency QuarterlyOpen p.4 ↗ |
The index has global markets regional allocation. |
| Index family type | Dividend yield | Asset Class Equity Strategy Representation of top 100 global high dividend-yield stocks.Open p.4 ↗ |
The index is a high-dividend-yield strategy index. |
| Factor exposures | Yield | Strategy Representation of top 100 global high dividend-yield stocks.Open p.4 ↗ |
The index provides exposure to high dividend yield. |
| M2 Universe · 7 fields | |||
| Foreign investor access | Yes | in the form of shares tradable for foreign investors without restrictionsOpen p.6 ↗ |
Shares must be tradable for foreign investors without restrictions. |
| Universe determination discretion | Fully rule based | The determination of the INDEX UNIVERSE is fully rule-based and the INDEX ADMINISTRATOR cannot make any discretionary decisions.Open p.6 ↗ |
The index universe is determined fully by rules, with no discretionary decisions by the index administrator. |
| Markets | Included: Developed Countries, Emerging Countries; Classification framework: Solactive Country Classification Framework; Excluded countries: India, China, Argentina | Listing on a regulated stock exchange in the form of shares tradable for foreign investors without restrictions in the Developed Countries or Emerging Countries as determined by the Solactive Country Classification Framework, excluding exchanges in India, China and Argentina.Open p.6 ↗ |
The universe covers developed and emerging countries under the Solactive Country Classification Framework, excluding India, China, and Argentina. |
| Exchanges | — | Listing on a regulated stock exchange in the form of shares tradable for foreign investors without restrictions in the Developed Countries or Emerging Countries as determined by the Solactive Country Classification Framework, excluding exchanges in India, China and Argentina.Open p.6 ↗ |
Securities must list on a regulated stock exchange, but exchanges in India, China, and Argentina are excluded; no individual exchange names are listed. |
| Security types | Common | Listing on a regulated stock exchange in the form of shares tradable for foreign investors without restrictionsOpen p.6 ↗ |
Eligible instruments are shares listed on a regulated stock exchange and tradable by foreign investors without restrictions. |
| Nationality rule | Country classification is determined by the Solactive Country Classification Framework. | Developed Countries or Emerging Countries as determined by the Solactive Country Classification FrameworkOpen p.6 ↗ |
A company's market is assigned according to the Solactive Country Classification Framework. |
| Exclusions | Closed End Fund, Business Development Company, Qualified Publicly Traded Partnership, non-qualified Partnership, Trust, India-listed securities, China-listed securities, Argentina-listed securities | No Closed End Fund, Business Development Companies (BDCs), Partnership (both Qualified Publicly Traded Partnership and non-qualified Partnership) or Trust.Open p.6 ↗ |
The universe excludes closed-end funds, business development companies, partnerships, trusts, and exchanges in India, China, and Argentina. |
| M3 Eligibility screens · 6 fields | |||
| Dividend yield non component range | Minimum exclusive: 6; Maximum exclusive: 20 | DIVIDEND YIELD > 6% and < 20% on the SELECTION DAY for companies which currently are no Index ComponentsOpen p.6 ↗ |
Companies that are not current index components must have dividend yield above 6% and below 20%. |
| Dividend yield existing component minimum | Minimum exclusive: 3 | DIVIDEND YIELD > 3% for companies which currently are Index Components.Open p.6 ↗ |
Current index components must have dividend yield above 3%. |
| Liquidity screen | Metric: Average daily value; Window: last three months; Threshold: 1,000,000; Currency: USD | Average daily trading volume in the last three months of at least 1,000,000 USD on the respective SELECTION DAY.Open p.6 ↗ |
Average daily trading volume over the last three months must be at least USD 1,000,000 on the selection day. |
| Minimum size | Metric: Full market cap; Threshold: 500,000,000; Currency: USD | MARKET CAPITALIZATION of at least 500 million USD on the respective SELECTION DAY.Open p.6 ↗ |
Market capitalization must be at least USD 500 million on the selection day. |
| Financial screens | Dividend yield must be greater than 6% and less than 20% for non-constituents., Dividend yield must be greater than 3% for current constituents., Dividend forecast must be at least stable, with no official announcement of cancellation or significant future reduction. | DIVIDEND YIELD > 6% and < 20% on the SELECTION DAY for companies which currently are no Index Components, DIVIDEND YIELD > 3% for companies which currently are Index Components.Open p.6 ↗ |
Candidates must satisfy dividend-yield thresholds and have at least stable dividend forecasts with no announced cancellation or significant reduction. |
| Business or ESG exclusions | Closed End Fund, Business Development Companies, Qualified Publicly Traded Partnership, non-qualified Partnership, Trust | No Closed End Fund, Business Development Companies (BDCs), Partnership (both Qualified Publicly Traded Partnership and non-qualified Partnership) or Trust.Open p.6 ↗ |
Closed-end funds, business development companies, partnerships, and trusts are excluded. |
| M4 Selection and constituent count · 5 fields | |||
| Annual review retention threshold | 200 | Following the annual ADJUSTMENT DAY, if a company is included in the INDEX UNIVERSE, it is only removed from the INDEX if it’s DIVIDEND YIELD on the SELECTION DAY is not in the Top 200 of the INDEX UNIVERSE.Open p.7 ↗ |
After the annual adjustment day, an existing index-universe company is removed only if its dividend yield on the selection day is not in the top 200. |
| Annual review replacement rule | Highest dividend yield non member | In this case, the company with the largest DIVIDEND YIELD that is currently not an index member is chosen as replacement.Open p.7 ↗ |
When an existing company is removed at the annual review, the non-index company with the largest dividend yield is selected as its replacement. |
| Selection method | Rank by metric | The companies in the INDEX UNIVERSE are ranked in descending order according to their DIVIDEND YIELD.Open p.7 ↗ |
Companies in the index universe are ranked by dividend yield and the highest-ranked companies are selected under fully rule-based requirements. |
| Ranking metrics | Name: Dividend yield; Direction: Descending; Step order: 1 | The companies in the INDEX UNIVERSE are ranked in descending order according to their DIVIDEND YIELD.Open p.7 ↗ |
The sole ranking metric is dividend yield, ranked in descending order. |
| Target constituent count | 100 | The 100 companies with the largest DIVIDEND YIELD on that day are then chosen as Index Components.Open p.7 ↗ |
The index selects the 100 companies with the largest dividend yield on the selection day. |
| M5 Weighting and capping · 5 fields | |||
| Target shares implementation period | 5 days | The target Number of Total Shares will be implemented after a five-day REBALANCE PERIOD as described in section 3.1.Open p.8 ↗ |
The target number of total shares is implemented after a five-day rebalance period. |
| Dividend cut review replacement weighting | A company added at a quarterly dividend-cut review receives the deleted member's weight; multiple replacements share the deleted members' cumulative weight equally. | On each DIVIDEND CUT REVIEW DAY, the company that is added to the INDEX at the quarterly reviews will be given the same weight as the member that will be deleted, calculated based on the DIVIDEND CUT REVIEW DAY.Open p.8 ↗ |
A quarterly replacement receives the deleted constituent's weight, and if several companies are deleted, their cumulative weight is distributed equally among replacements. |
| Remaining constituent weighting at dividend cut review | Companies remaining in the index retain a weight based on their weight as of the dividend cut review day. | Companies that remain in the INDEX will receive a weight based on the weight as of the DIVIDEND CUT REVIEW DAY.Open p.8 ↗ |
Continuing companies receive a weight based on their weight as of the dividend cut review day. |
| Weighting scheme | Equal | On each SELECTION DAY each INDEX COMPONENT of the Solactive Global SuperDividend™ Index is weighted equally.Open p.8 ↗ |
Each index component is weighted equally on each selection day. |
| Divisor adjustment rule | The divisor is adjusted so that an event does not change the index level, using the ratio of post-event market capitalization or adjusted index value to pre-event value. | This change in Market Capitalization requires a Divisor adjustment to keep the index level constant.From Solactive Equity Index Methodology ↗ |
For divisor indices, corporate actions and some rebalances adjust the divisor to keep the index level continuous. |
| M6 Review and rebalance schedule · 11 fields | |||
| Dividend reduction threshold | 20% | Quarterly reductions of the dividend payment from a value of 20% or higher will be taken into account and reviewed.Open p.7 ↗ |
Quarterly dividend reductions of 20% or more are considered and reviewed. |
| Implementation period | Target share numbers are implemented successively in equal daily portions during the rebalance period. | The final Number of Total Shares after the last day of the REBALANCE PERIOD is achieved by implementing the Target Number of Total Shares of each constituent successively in the same portion per day.Open p.9 ↗ |
The target number of total shares for each constituent is implemented successively in equal portions per day during the rebalance period. |
| Corporate action notice period | 2 trading days | SOLACTIVE will announce the INDEX adjustment giving a notice period of at least two TRADING DAYS (with respect to the affected INDEX COMPONENT)Open p.10 ↗ |
For corporate-action adjustments, Solactive gives at least two trading days' notice for the affected component. |
| Review frequency | Quarterly | Once a quarter (10 BUSINESS DAYS before the last BUSINESS DAY in May, August and November), the INDEX COMPONENTS are screened for dividend cutsOpen p.7 ↗ |
The dividend cut review occurs once a quarter. |
| Review types | Scheduled review, Ad hoc | Once a quarter (10 BUSINESS DAYS before the last BUSINESS DAY in May, August and November), the INDEX COMPONENTS are screened for dividend cutsOpen p.7 ↗ |
The index has scheduled dividend cut reviews and adjustments between regular rebalance days when corporate actions occur. |
| Review months | May, August, November | 10 BUSINESS DAYS before the last BUSINESS DAY in May, August and NovemberOpen p.7 ↗ |
Quarterly dividend cut reviews occur in May, August, and November. |
| Data cutoff rule | 10 business days before the last business day in May, August, and November | Once a quarter (10 BUSINESS DAYS before the last BUSINESS DAY in May, August and November), the INDEX COMPONENTS are screenedOpen p.7 ↗ |
The quarterly screening reference date is 10 business days before the last business day of May, August, and November. |
| Announcement rule | Solactive publishes constituent changes with sufficient notice before the rebalance day in the Announcements section of its website. | SOLACTIVE will publish any changes made to the INDEX COMPONENTS with sufficient notice before the REBALANCE DAY on the SOLACTIVE website under the section “Announcement”Open p.9 ↗ |
Solactive publishes changes to index components with sufficient notice before the rebalance day on its website under Announcements. |
| Effective date rule | At the close of the last business day of May, August, or November | If any changes need to be implemented, the index will be adjusted at the close of the last BUSINESS DAY of the respective monthOpen p.7 ↗ |
If the dividend cut review requires changes, the index is adjusted at the close of the last business day of the respective month. |
| Rebalance frequency | Quarterly | In order to reflect the new selection of the INDEX COMPONENTS determined on the SELECTION DAY and DIVIDEND CUT REVIEW DAY (in accordance with Section 2) the INDEX is adjusted during the REBALANCE PERIOD.Open p.9 ↗ |
The index is rebalanced during the rebalance period to reflect selections determined on the selection day and quarterly dividend cut review day; no extraordinary rebalance is conducted. |
| Weight reset frequency | Quarterly | The Weights which are defined on the SELECTION DAY and DIVIDEND CUT REVIEW DAY are used to determine the Number of Total SharesOpen p.9 ↗ |
Weights defined on the selection day and dividend cut review day are implemented through the ordinary rebalance process. |
| M8 Corporate actions, IPOs, ad-hoc changes · 8 fields | |||
| Corporate action effective timing | cum-day to ex-day | Corporate actions will be implemented from the cum-day to the ex-day of the corporate action, so that the adjustment to the INDEX coincidesOpen p.11 ↗ |
Corporate actions are implemented from the cum-day to the ex-day so the index adjustment coincides with the price effect. |
| Deviation for unusual events | Solactive may deviate from standard corporate-action procedures for unusual or complex actions or to preserve comparability and representativeness. | it retains the right in accordance with the Equity Index Methodology to deviate from these standard procedures in case of any unusual or complex corporate actionOpen p.11 ↗ |
Solactive may deviate from standard procedures for unusual or complex corporate actions or to preserve the index's comparability and representativeness. |
| Interim adjustment effective day | Implemented on the effective day specified in the respective notice | The INDEX adjustments will be implemented on the effective day specified in the respective notice.Open p.10 ↗ |
Interim index adjustments are implemented on the effective day specified in the relevant notice. |
| Ad-hoc deletion | Acquisition, Delisting, Bankruptcy, Other | Mergers & Acquisitions (transaction in which the ownership of a company (or other business organizations) are transferred or consolidatedOpen p.11 ↗ |
Relevant corporate-action events include mergers and acquisitions, delistings, nationalization, and insolvency, among other listed events. |
| Merger spinoff rules | Corporate actions, including spin-offs and mergers or acquisitions, are implemented from cum-day to ex-day under the Equity Index Methodology. | Corporate actions will be implemented from the cum-day to the ex-day of the corporate action, so that the adjustment to the INDEX coincides with the occurrence of the price effectOpen p.11 ↗ |
Spin-offs, mergers, acquisitions, and other corporate actions are adjusted from cum-day to ex-day in accordance with the Equity Index Methodology. |
| Corporate actions guide ref | Equity Index Methodology | Adjustments to the INDEX to account for corporate actions will be made in compliance with the Equity Index MethodologyOpen p.11 ↗ |
Corporate-action adjustments are made in compliance with Solactive's Equity Index Methodology. |
| Replacement policy | None | The weight will be distributed pro rata across the remaining Index Components.From Solactive Equity Index Methodology ↗ |
Deleted weights are generally distributed pro rata across remaining components rather than replaced from a reserve list. |
| Deletion price | Typically the last available stock price; alternative-market prices, transaction deal terms, distribution terms, or 0.00000001 may be used when a robust market price is unavailable; sanctioned securities may be removed at zero. | If available, the Index Component is deleted on the basis of its last available stock price.From Solactive Equity Index Methodology ↗ |
Securities are generally deleted at the last available price, with alternative prices, deal terms, distribution values, a nominal near-zero price, or zero in specified situations. |
| M9 Calculation and return variants · 11 fields | |||
| Equity index methodology reference | Calculation is performed according to Solactive's Equity Index Methodology. | The calculation is performed according to the Equity Index Methodology, which is available on the SOLACTIVE website: https://www.solactive.com/documents/equity-index-methodology/.Open p.10 ↗ |
The detailed index calculation mechanics follow the Solactive Equity Index Methodology. |
| Formula type | Divisor | The divisor index formula stipulates that the level of the INDEX changes based on the change of the prices of its INDEX COMPONENTS taking into account their weight in the INDEX and any currency conversionOpen p.10 ↗ |
The index uses a divisor index formula. |
| Price source | Intraday: current trading prices on the exchanges where components are listed; Stale intraday: later of the most recent closing price or the last available trading price for the preceding trading day; Closing: closing prices on the respective exchanges; FX intraday: current ICE spot foreign exchange rate; FX closing: 4:00 p.m. London time WM Fixing quoted by Reuters, or last available fixing if unavailable | The level of the INDEX is calculated on each CALCULATION DAY from 9:00am to 11:00pm CET based on the TRADING PRICES on the EXCHANGES on which the INDEX COMPONENTS are listed.Open p.5 ↗ |
Intraday levels use current exchange trading prices, closing levels use exchange closing prices, and missing or foreign-currency prices follow specified fallback and FX rules. |
| Calculation frequency | Intraday window: 09:00-23:00 CET each calculation day; Closing level: Yes | The level of the INDEX is calculated on each CALCULATION DAY from 9:00am to 11:00pm CET based on the TRADING PRICES on the EXCHANGES on which the INDEX COMPONENTS are listed.Open p.5 ↗ |
The index is calculated intraday from 9:00 a.m. to 11:00 p.m. CET on each calculation day and also has a daily closing level. |
| Precision | Index level: 4; Divisor: 6; Trading prices: 6; Foreign exchange rates: 6 | The level of the INDEX will be rounded to 4 decimal places. Divisors will be rounded to six decimal places. TRADING PRICES and foreign exchange rates will be rounded to six decimal places.Open p.10 ↗ |
The index level is rounded to four decimal places, while divisors, trading prices and foreign exchange rates are rounded to six decimal places. |
| Return variants | PR, NTR | The INDEX is calculated as a price return and net total return Index.Open p.10 ↗ |
The index is published as a price return and net total return index. |
| Dividend treatment | Dividends and other distributions are reinvested across the entire index basket through a divisor at the opening of the ex-date. | Any dividends or other distributions are reinvested across the entire basket of INDEX COMPONENTS by means of a divisor at the opening of the effective date (the so-called ex-date) of the payment of such dividend or other distribution.Open p.10 ↗ |
Cash dividends and other distributions are reinvested across the whole constituent basket by adjusting the divisor at the opening of their effective ex-date. |
| Divisor adjustment | cash dividends, other distributions | Any dividends or other distributions are reinvested across the entire basket of INDEX COMPONENTS by means of a divisor at the opening of the effective date (the so-called ex-date) of the payment of such dividend or other distribution.Open p.10 ↗ |
Dividends and other distributions trigger reinvestment through a divisor adjustment on the ex-date. |
| Market disruption rule | During market stress, Solactive follows the predefined and exhaustive arrangements in the Solactive Disruption Policy incorporated by reference. | In periods of market stress SOLACTIVE calculates its indices following predefined and exhaustive arrangements as described in the Solactive Disruption Policy, which is incorporated by reference and available on the SOLACTIVE websiteOpen p.12 ↗ |
When market stress causes inaccurate or delayed prices, calculation follows the Solactive Disruption Policy. |
| Recalculation policy | Solactive endeavors to correct identified errors within a reasonable period, with measures specified in the Solactive Correction Policy. | SOLACTIVE endeavors to correct all errors that have been identified within a reasonable period of time.Open p.12 ↗ |
Identified index errors are corrected within a reasonable period under the incorporated Solactive Correction Policy. |
| Withholding tax basis | Withholding tax or other typical investor costs are deducted in Net Total Return indices, generally using Solactive's applicable withholding tax rates and country or security-specific exceptions. | a Net Total Return Index considers payments, such as dividends, after the deduction of any withholding tax or other amounts an investor holding the Index Components would typically be exposed to.From Solactive Equity Index Methodology ↗ |
Net Total Return indices deduct withholding tax or other amounts a typical investor would bear, using applicable Solactive withholding tax rates and specified country, REIT, depository receipt, Brazil, Australia, Japan, New Zealand, and other exceptions. |
| M10 Governance, change policy, disclosure · 11 fields | |||
| Rule amendment approval | Any rule amendment that may amend the guideline must receive prior Oversight Committee approval and comply with the Methodology Policy. | Any such amendment, which may result in an amendment of the GUIDELINE, must be submitted to the OVERSIGHT COMMITTEE for prior approval and will be made in compliance with the Methodology PolicyOpen p.14 ↗ |
Rule amendments require prior approval by the Oversight Committee and compliance with the Solactive Methodology Policy. |
| Changes to calculation method | Solactive may change the calculation method or terms when required by market, supervisory, legal, financial or tax reasons or to prevent or remedy errors. | However, it cannot be excluded that the market environment, supervisory, legal and financial or tax reasons may require changes to be made to this method.Open p.13 ↗ |
The administrator may alter the method or terms for market, regulatory, legal, financial, tax or error-remediation reasons. |
| Change information disclaimer | The index administrator is not obliged to provide information on modifications or changes. | The INDEX ADMINISTRATOR is not obliged to provide information on any such modifications or changes.Open p.13 ↗ |
The document states that Solactive is not obliged to provide information on method modifications or changes. |
| Oversight body | Oversight Committee composed of staff from Solactive and its subsidiaries | An oversight committee composed of staff from SOLACTIVE and its subsidiaries (the “OVERSIGHT COMMITTEE”) is responsible for decisions regarding any amendments to the rules of the INDEX.Open p.14 ↗ |
The Solactive Oversight Committee, composed of Solactive and subsidiary staff, oversees amendments to the index rules. |
| Discretion points | determination of the index universe, if applicable, selection of index components, if applicable, other relevant decisions in relation to the index | Any discretion which may need to be exercised in relation to the determination of the INDEX (for example the determination of the INDEX UNIVERSE (if applicable), the selection of the INDEX COMPONENTS (if applicable) or any other relevant decisions in relation to the INDEX)Open p.13 ↗ |
Discretion may apply to index-universe determination, constituent selection and other relevant index decisions, subject to strict discretion rules. |
| Methodology review frequency | Frequency: At least annually; Minimum count: 1 | The methodology of the INDEX is subject to regular review, at least annually.Open p.13 ↗ |
The index methodology is reviewed regularly, at least once per year. |
| Error correction policy | Errors are handled under the Solactive Correction Policy, and Solactive is not obligated to advise third parties of errors. | The understanding of “a reasonable period of time” as well as the general measures to be taken are generally depending on the underlying and is specified in the Solactive Correction PolicyOpen p.12 ↗ |
Identified errors are corrected under the Solactive Correction Policy, but the document states that Solactive has no obligation to notify third parties of errors. |
| Change announcement | Solactive website announcements section | Such change in the methodology will be announced on the SOLACTIVE website under the Section “Announcement”, which is available at https://www.solactive.com/news/announcements/.Open p.13 ↗ |
Methodology changes are announced on the Solactive website in the Announcements section. |
| Cessation policy | Orderly cessation may occur when the index's market or economic reality changes substantially, rules cannot be applied coherently, or the index is no longer used; details follow the Solactive Termination Policy. | Nevertheless, if no other options are available the orderly cessation of the INDEX may be indicated.Open p.14 ↗ |
Solactive may orderly cease the index under substantial changed reality, incoherent rules or lack of use, following the Solactive Termination Policy and stakeholder consultation procedures. |
| Material change definition | A material change includes a change in index objective, or a methodology change altering the overall concept or nature of the index and affecting integrity and continued comparability, with expected significant impact on composition, weighting or level; uncertain classifications default to material. | A ‘MATERIAL CHANGE’ is considered in the following events: change in the objective of the INDEX (e.g., change in the market or economic reality that the Index is intended to represent;From Solactive Methodology Policy ↗ |
A material change changes the index objective or overall concept/nature, affects integrity and comparability, and is expected to significantly affect composition, weighting or index level; ambiguous changes are treated as material. |
| Notice period | 2 trading days | SOLACTIVE shall announce the extraordinary INDEX adjustment with a notice period of at least two TRADING DAYS.From Solactive Disruption Policy ↗ |
An extraordinary index adjustment for removal is announced with a notice period of at least two trading days. |
Open points · 38Model-written, for reference
- 1No explicit launch or first publication date was found; only the start date 07/06/2011 is stated.
- 2No calculation agent separate from Solactive AG was identified.
- 3No vendor-specific local index code, Wind code, or other ticker beyond RIC and Bloomberg ticker was found.
- 4No regulated-benchmark status (regulated, significant, or non-significant) was stated.
- 5No intended use such as ETF or derivatives benchmark was stated.
- 6No explicit size segment enum such as large-cap, all-cap, or standard was stated.
- 7No minimum trading history or listing-age requirement was found.
- 8No minimum free float percentage was found.
- 9No foreign room or foreign ownership limit percentage was found.
- 10No minimum voting rights requirement was found.
- 11No minimum share price screen was found.
- 12No suspension treatment rule was found.
- 13No abnormal or extreme price increase screen was found.
- 14No named exchanges or listing boards were provided; the document only refers to regulated stock exchanges and excluded countries.
- 15No parent index used as the source universe was identified.
- 16No tie-breaking rule for companies with identical dividend yields was stated.
- 17No industry or sector neutrality rule was stated.
- 18No reserve list size or pre-ranked replacement pool was stated.
- 19No free-float factor methodology was stated.
- 20No domestic inclusion factor or foreign ownership limit treatment was stated.
- 21No single-constituent, group, sector, or country weight cap was stated.
- 22No shares-outstanding source or update rule was stated.
- 23No explicit divisor adjustment rule was stated.
- 24The five-day rebalance period does not specify whether the days are trading days, business days, or calendar days.
- 25No rank buffer, size-segment buffer, existing-constituent liquidity buffer, or maximum turnover per review is stated.
- 26No fast-entry rule for large new listings is stated.
- 27No specific replacement policy or reserve list for ad hoc deletions is stated.
- 28No deletion price is stated.
- 29No threshold for implementing share or free-float changes between reviews is stated.
- 30The provided sections identify quarterly dividend cut reviews but do not fully specify any separate annual or semi-annual selection review schedule.
- 31The document does not specify the withholding tax rate or tax basis for the net total return variant.
- 32The document does not define material methodology changes.
- 33The document does not describe a formal external consultation procedure for methodology changes.
- 34The document does not state a notice period for methodology or constituent changes.
- 35The document does not state whether or how often constituent lists are published.
- 36The provided sections do not identify an external review body independent of Solactive.
- 37The provided sections do not enumerate all divisor-adjustment events beyond dividends and other distributions, referring instead to the Equity Index Methodology.
- 38Not coveredM7 Buffers and turnover control: not covered by this edition
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