Investable Indices

MVIS Indices are investable indices, tailor-made for exchange-traded funds (ETFs). The index concept is built on three key factors: liquidity, pure-play exposure and diversification which, in combination, ensure the creation of investable index tools, particularly suited to underlie ETFs.

Demanding liquidity criteria are applied when potential index companies are screened.

Strict and Demanding Liquidity Criteria

Ineligible for inclusion are stocks which have a free-float of less than 10.00%. Each MVIS Index component must meet the following liquidity requirements:

Market Capitalisation
  • A full market capitalisation exceeding 150 million USD;
  • A three-month average daily trading volume of at least 1 million USD at the actual review date (1);
  • A three-month average daily trading volume of at least 1 million USD at the previous two reviews (2) (3) of an actual review.
Trading Volume
  • At last 250,000 shares traded per month over the last six months at the actual review date (1);
  • At last 250,000 shares traded per month at the previous two reviews (2) (3) of an actual review.

The table shows the results of the liquidity screening for the index components Gazprom PAO (US80585Y3080, MVIS Russia Index) and Sberbank PJSC (US80585Y3080, MVIS Russia Index).

Component Selection Criteria for the MVIS Russia Index 

(example values based on previous index reviews)
Criteria Required Gazprom Sberbank
Full Market Capitalisation USD 150,000,000 USD 58,378,880,000 USD 66,271,930,000
Average daily trading volume (1) USD 1,000,000 USD 45,214,240 USD 71,367,704
Average daily trading volume (2) USD 1,000,000 USD 31,948,716 USD 70,900,280
Average daily trading volume (3) USD 1,000,000 USD 47,148,248 USD 117,743,416
Traded shares/month (1) USD 250,000 USD 175,665,126 USD 121,337,265
Traded shares/month (2) USD 250,000 USD 180,209,799USD 134,552,806
Traded shares/month (3) USD 250,000 USD 220,454,787 USD 134,098,692
Free-Float 10% 51% 48%
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