Nasdaq Financial-100

The Nasdaq Financial-100 (^IXF) is a stock market index operated by Nasdaq consisting of companies that are listed on the Nasdaq stock exchange and that are in the financial services industry, including banking, insurance, mortgages and securities trading. It was created in 1985 as the sister index to the more widely followed Nasdaq-100.

Standards for eligibility

To qualify for membership in the index, the following standards must be met:[1]

  • It must engage in one of these categories: banking, insurance, security trading, brokerage, mortgages, debt collection, and real estate.
  • It must be seasoned on the Nasdaq for a period of three months.
  • It must be current in regards to SEC filings.
  • It cannot be in bankruptcy.
  • If a company has multiple classes of stock, all classes that meet minimum market capitalization standards will be included. At this moment, however, all companies in the index have only one class of stock in this index.
  • Unlike the Nasdaq-100 index, there are no minimum weight requirements, and no volume minimums to meet either.

The index is rebalanced annually in June. Components that are in the top 100 of financial companies are allowed to remain in the index. If a component is between positions 101 to 125, it is given a year to move into the top 100 of eligible stocks; if it cannot meet this standard, the stock is then dropped. Any component that is not in the top 125 at the time of rebalance is dropped. All vacancies, including those done whenever a corporate action makes a component ineligible, through acquisition or delisting, are filled by the highest ranked component not in the index. Unlike the Nasdaq-100, where changes are announced in advance, changes in the Nasdaq Financial-100 are not made public by Nasdaq.[1]

Components

The following companies are in the index.[2]

  1. AGNC Investment
  2. American National Insurance
  3. Ameris Bancorp
  4. Arch Capital Group
  5. Atlantic Union Bank
  6. BancFirst
  7. Bank OZK
  8. Banner Bank
  9. BOK Financial Corporation
  10. Brighthouse Financial
  11. Capitol Federal Savings Bank
  12. Cathay General Bancorp
  13. Cincinnati Financial
  14. CME Group
  15. Coinbase
  16. Columbia Banking System
  17. Columbia Financial
  18. Commerce Bancshares
  19. Credit Acceptance
  20. CVB Financial
  21. East West Bank
  22. Eastern Bank
  23. eHealthInsurance
  24. Enstar Group
  25. Erie Insurance Group
  26. Fifth Third Bank
  27. First Citizens BancShares
  28. First Financial Bancorp
  29. First Financial Bankshares
  30. First Hawaiian Bank
  31. First Merchants Corporation
  32. FirstCash
  33. Focus Financial Partners
  34. Fulton Financial Corporation
  35. Futu
  36. Glacier Bancorp
  37. Goosehead Insurance
  38. Hamilton Lane
  39. Hancock Whitney
  40. Heartland Financial USA
  41. Huntington Bancshares
  42. Independent Bank
  43. Independent Bank Group
  44. Interactive Brokers
  45. International Bancshares Corporation
  46. Investors Bank
  47. Kinsale Capital Group
  48. LendingTree
  49. Live Oak Bank
  50. LPL Financial
  51. MarketAxess Holdings, Inc.
  52. Morningstar, Inc.
  53. Nasdaq, Inc.
  54. Navient Corporation
  55. NMI Holdings
  56. Northern Trust
  57. Old National Bancorp
  58. Open Lending
  59. Opendoor
  60. Pacific Premier Bancorp
  61. PacWest Bancorp
  62. Pinnacle Financial Partners
  63. Popular, Inc.
  64. Principal Financial Group
  65. Regency Centers
  66. Renasant Bank
  67. Sandy Spring Bank
  68. Seacoast Banking Corporation of Florida
  69. SEI Investments Company
  70. Selective Insurance Group
  71. Signature Bank
  72. Simmons Bank
  73. Sallie Mae
  74. South State Bank
  75. SVB Financial Group
  76. T. Rowe Price
  77. Texas Capital Bank
  78. TFS Financial
  79. The Carlyle Group
  80. Towne Bank
  81. Tradeweb
  82. Triumph Bancorp
  83. Trupanion
  84. Trustmark Bank
  85. UMB Financial Corporation
  86. Umpqua Holdings Corporation
  87. United Bank
  88. United Community Bank
  89. Upstart Holdings
  90. Valley Bank
  91. Virtu Financial
  92. Virtus Investment Partners
  93. Washington Federal
  94. WesBanco
  95. Westamerica Bank
  96. Wintrust Financial Corporation
  97. WSFS Bank
  98. XP Inc.
  99. Zillow
  100. Zions Bancorporation

References
  1. "NASDAQ Financial-100 IndexSM Methodology" (PDF). Nasdaq.
  2. "Nasdaq Financial-100". Nasdaq.
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