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Indices

The companies listed on the stock exchange vary significantly in a range of aspects, for example as regards their sector and size. In the case of size the measure used is the market capitalisation. This measures the number of shares multiplied by the price per share. A distinction is made between companies with large market capitalisations (blue chip), medium capitalisations (mid cap) and small capitalisations (small cap). This distinction is generally reflected in stock indices.

A stock index shows the overall price performance of a particular category of shares. This can be all blue chip shares in a particular country or all shares from a particular sector. The SIX Swiss Exchange offers a wide array of stock indices. Apart from renowned indices such as the SPI®, SMI® and SLI®, it also calculates a variety of other industry, sector and customer indices. Further information is available under Indices.

SMI® family The SMI® is the blue chip index and the most important stock index in Switzerland. The SMI® comprises the 20 largest stocks. The SMI MID and the SMI Expanded® also belong to this family. The SMI MID comprises the 30 largest mid-cap stocks in the Swiss equity market which are not already included in the blue chip SMI® index. The SMIM® comprises the SMI® and SMIM® indices and hence the 50 most highly capitalised stocks in the Swiss equity market.
SPI® family The SPI® Swiss Performance Index (SPI) is the broad market index for the Swiss equity market and contains virtually all of the shares traded on the SIX Swiss Exchange from companies that are based in Switzerland or the Principality of Liechtenstein. Foreign companies listed on the SIX Swiss Exchange can also apply to be included in the index. The indices SPI EXTRA® and SPI® ex SLI® also belong to the SPI® family. The SPI EXTRA enables investors to track the performance of small and mid-caps not included in the SMI® and the SPI® ex SLI® shares not included in the SLI®.
Swiss Leader Index The SLI® Swiss Leader Index comprises the shares of the SMI® and the 10 largest stocks in the SMIM®. It therefore includes the 30 largest and most liquid stocks on the Swiss equity market.
SXI® family The SXI® Special Industry Index family comprises sectors of particular importance for the Swiss economy. The SXI® life sciences tracks the prominent pharma, medtech and biotech sectors. The SXI Bio+Medtech® covers biotechnology, advanced medical devices, medical supplies and health care providers.
Other indices
  • The dividend points indices serve as underlyings for standardised products and can be used for institutional investors to reduce dividend risk.
  • The Swiss All Share Index comprises all shares from companies based in Switzerland and the Principality of Liechtenstein. It also contains stocks which are not included in the SPI® because of the minimum free float of 20%.
  • The index of investment companies comprises all investment companies listed on the SIX Swiss Exchange.
  • The VSMI model aims to make pure volatility tradable. The index creates a portfolio which does not respond to price fluctuations, but only to changes in volatility.
  • The SWX IAZI Real Estate Indices for Swiss real estate are based on a pool of transaction data. They are published quarterly.
Customer indices
  • The UBS 100 index comprises the 100 most highly capitalised companies of the SPI®.
Other countries In Germany the blue-chip index is the DAX (Deutscher Aktienindex) and in the USA the Dow Jones Industrial Average. The shares of the 50 largest European companies are included in the Dow Jones STOXX 50. Six Swiss stocks are represented: ABB, Nestlé, Novartis, Roche, UBS and Credit Suisse.