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BENCHMARK INDICES

STOXX True Exposure USA 50%

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Index Description

Traditional equity indices bundle companies based on their country of domicile and primary listing, regardless of where the selected companies generate their revenue. Without this consideration, indices covering different countries or regions may have substantial revenue overlaps among each other. In a portfolio context, revenue overlaps among portfolio constituents increase correlations between indices. STOXX True Exposure™(STOXX TRU™) Indices take into account the revenue exposure of each company to single countries in the selection process and focus on companies that generate all or a significant portion of their revenue in targeted countries or regions. This provides a more focused representation of the targeted market. The derived decrease in revenue overlaps leads to a decrease in correlations among STOXX TRU™ Indices. Viewed in a portfolio context, a combination of STOXX TRU™ Indices is therefore found to increase portfolio efficiency: they offer more return per unit of risk taken compared to the use of traditional equity indices. The initial offering is composed of five country indices (Australia, Canada, Japan, UK and USA), four regional indices (Eurozone, Europe, Asia/Pacific and North America) as well as four global indices (Developed Markets, Developed Markets ex Europe, Developed Markets ex USA and Emerging Markets).

Key facts

  • The STOXX TRU™ Index universe is based on well-known benchmark indices such as the STOXX® Europe 600 or the EURO STOXX®
  • For companies that do not disclose revenue breakdown on a country level, STOXX applies a unique export-based methodology to estimate revenue exposures
  • Our unique estimator takes into account industry-specific, country-to-country export data

Descriptive Statistics

Index Market Cap (USD bn) Components (USD bn) Component weight (%) Turnover (%)
Full Free-float Mean Median Largest Smallest Largest Smallest Last 12 monts
STOXX True Exposure USA 50% 29,391.2 27,854.3 41.3 16.1 1,363.5 1.0 4.9 0.0 3.0
STOXX USA 900 57,781.8 55,534.3 61.7 17.6 3,608.4 3.6 6.5 0.0 2.5

Supersector weighting (top 10)

Country weighting

Risk and return figures1

Index returns Return (%) Annualized return (%)
Last month YTD 1Y 3Y 5Y Last month YTD 1Y 3Y 5Y
STOXX True Exposure USA 50% 8.2 24.2 30.2 21.6 64.8 N/A N/A 30.8 6.8 10.6
STOXX USA 900 6.5 27.0 33.2 29.9 90.6 N/A N/A 33.8 9.2 13.9
Index volatility and risk Annualized volatility (%) Annualized Sharpe ratio2
STOXX True Exposure USA 50% N/A N/A 11.0 16.8 20.9 N/A N/A 2.2 0.2 0.4
STOXX USA 900 N/A N/A 12.6 18.1 21.7 N/A N/A 2.0 0.3 0.5
Index to benchmark Correlation Tracking error (%)
STOXX True Exposure USA 50% 0.9 0.9 0.9 1.0 1.0 5.3 5.5 5.3 4.2 3.8
Index to benchmark Beta Annualized information ratio
STOXX True Exposure USA 50% 1.0 0.8 0.8 0.9 0.9 3.8 -0.5 -0.5 -0.6 -0.8

1For information on data calculation, please refer to STOXX calculation reference guide

2Based on EURIBOR1M

(USD, Price), all data as of November 29, 2024

BENCHMARK INDICES

STOXX True Exposure USA 50%

Fundamentals

Index Price/earnings incl. negative Price/earnings excl. negative Price/book Dividend yield (%)3 Price/sales Price/cash flow
Trailing Projected Trailing Projected Trailing Trailing Trailing
STOXX True Exposure USA 50% 27.9 23.2 25.6 25.6 4.1 2.1 2.3 13.2
STOXX USA 900 31.5 25.4 28.7 28.7 5.4 1.8 3.1 19.6

Performance and annual returns

Methodology

Index components are selected according to their country of incorporation as well as their revenue exposure to respective countries or regions.

Indices are available with exposures ranging from 25% to 100%, to cater to the different needs of the investors and strike the desired balance between exposure to the target region, market-cap coverage of industry and country allocations.

Components are weighted according to the product of the derived exposure factor and free-float market cap. To facilitate tradability, minimum liquidity requirements on component level have been introduced.

The STOXX estimator uses publicly available data as reported by the UN and the World Bank.

The detailed methodology including the calculation formula can be found in our rulebook: http://www.stoxx.com/indices/rulebooks.html

Versions and symbols

Index ISIN Symbol Bloomberg Reuters
Price EUR CH0283324512 SXTRUUMP .SXTRUUMP
Gross Return EUR CH0283324538 SXTRUUMG .SXTRUUMG
Net Return EUR CH0283324520 SXTRUUMN .SXTRUUMN
Net Return USD CH0283325931 SXTRUUMV .SXTRUUMV
Price USD CH0283325923 SXTRUUML .SXTRUUML
Gross Return USD CH0283325949 SXTRUUMH .SXTRUUMH

Quick Facts

Weighting Free-float market cap multiplied with exposure
Cap Factor 5.0%
No. of components Variable
Review frequency Annually
Calculation/distribution Net return: real-time (every 15 seconds); Others: end-of-day
Calculation hours Please see data vendor codes sheet on www.stoxx.com/data-vendor-codes
Base value/base date 100 as of Sep. 24, 2007
History Available daily since Sep. 24, 2007
Inception date Jun. 8, 2015
To learn more about the inception date, the currency, the calculation hours and historical values, please see our data vendor code sheet.

Top 10 Components4

Company Supersector Country Weight
Amazon.com Inc. Retail USA 4.895%
Microsoft Corp. Technology USA 4.102%
Berkshire Hathaway Inc. Cl B Financial Services USA 2.386%
UnitedHealth Group Inc. Health Care USA 2.123%
JPMorgan Chase & Co. Banks USA 2.012%
TESLA Automobiles and Parts USA 1.798%
MasterCard Inc. Cl A Industrial Goods and Services USA 1.656%
Eli Lilly & Co. Health Care USA 1.630%
Home Depot Inc. Retail USA 1.475%
WALMART INC. Retail USA 1.273%

3Net dividend yield is calculated as net return index return minus price index return

4Based on the composition as of November 29, 2024

CONTACT DETAILS

  • STOXX customer support
  • P +41 43 430 7272
  • customersupport@stoxx.com
  • https://stoxx.com/support/

DISCLAIMER

STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not make any warranties or representations, express or implied, with respect to the timeliness, sequence, accuracy, completeness, currentness, merchantability, quality or fitness for any particular purpose of its index data and exclude any liability in connection therewith. STOXX, Deutsche Börse Group and their licensors, research partners or data providers are not providing investment advice through the publication of indices or in connection therewith. In particular, the inclusion of a company in an index, its weighting, or the exclusion of a company from an index, does not in any way reflect an opinion of STOXX, Deutsche Börse Group or their licensors, research partners or data providers on the merits of that company. Financial instruments based on the STOXX indices, DAX indices or on any other indices supported by STOXX are in no way sponsored, endorsed, sold or promoted by STOXX, Deutsche Börse Group or their licensors, research partners or data providers.

BACKTESTED PERFORMANCE

This document contains index performance data based on backtesting, i.e. calculations of how the index might have performed prior to launch if it had existed using the same index methodology and based on historical constituents. Backtested performance information is purely hypothetical and is provided in this document solely for information purposes. Backtested performance does not represent actual performance and should not be interpreted as an indication of actual performance.

CUSTOMIZATION

The index can be used as a basis for the definition of STOXX Customized Indices, which can be tailored to specific client or mandate needs. STOXX offers a wide range of customization, in terms of component selection, weighting schemes and personalized calculation methodologies.

CONTACT DETAILS

  • STOXX customer support
  • P +41 43 430 7272
  • customersupport@stoxx.com
  • https://stoxx.com/support/

DISCLAIMER

STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not make any warranties or representations, express or implied, with respect to the timeliness, sequence, accuracy, completeness, currentness, merchantability, quality or fitness for any particular purpose of its index data and exclude any liability in connection therewith. STOXX, Deutsche Börse Group and their licensors, research partners or data providers are not providing investment advice through the publication of indices or in connection therewith. In particular, the inclusion of a company in an index, its weighting, or the exclusion of a company from an index, does not in any way reflect an opinion of STOXX, Deutsche Börse Group or their licensors, research partners or data providers on the merits of that company. Financial instruments based on the STOXX indices, DAX indices or on any other indices supported by STOXX are in no way sponsored, endorsed, sold or promoted by STOXX, Deutsche Börse Group or their licensors, research partners or data providers.

BACKTESTED PERFORMANCE

This document contains index performance data based on backtesting, i.e. calculations of how the index might have performed prior to launch if it had existed using the same index methodology and based on historical constituents. Backtested performance information is purely hypothetical and is provided in this document solely for information purposes. Backtested performance does not represent actual performance and should not be interpreted as an indication of actual performance.

CUSTOMIZATION

The index can be used as a basis for the definition of STOXX Customized Indices, which can be tailored to specific client or mandate needs. STOXX offers a wide range of customization, in terms of component selection, weighting schemes and personalized calculation methodologies.