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A series of indexes was developed jointly by the Frank Russell Company and the New York Futures Exchange (NYFE) to represent investment-grade equities. While the S&P 500 represents approximately 75 percent of the investment-grade stocks held by most institutional investors, the Russell 1000, 2000, and 3000 indexes track almost 99 percent of the stocks included in portfolios of institutional investors.

Even with more than 6,000 publicly traded U.S. stocks, the Russell 3000 Index confines itself to the 3,000 most actively traded shares and is divided into the Russell 1000 and Russell 2000 subindexes. The Russell 1000 Index represents the price of the top tier of the domestic equity market, or companies with market values greater than $300 million, which usually comprise approximately 90 percent of the market. The Russell 2000 Index represents the second tier of U.S. equities, or companies with market values between $20 million and $300 million, which account for approximately 8 to 9 percent of the total market.

The Russell 1000, 2000, and 3000 indexes are capitalization-weighted, and adjustments are made for cross-ownership. For example, if IBM owns 20 percent of Intel, the index includes only 80 percent of Intel's outstanding shares. Also, all three indexes exclude non-U.S. stocks, both ADRs and the ordinary shares that are traded on U.S. stock exchanges. The base level for all three indexes was set at 100 in 1979.

 

Company Headquarters: Tacoma

Frank Russell Company
909 A Street
Tacoma, WA 98402
United States
253-572-9500
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Other offices:

Auckland

Frank Russell Company (N.Z.) Limited
Level 21, ASB Bank Centre
135 Albert Street
Auckland, New Zealand

09-357-6633

London

Frank Russell Company Limited
6 Cork Street
London W1X 1PB
United Kingdom

020-7287-2858

New York

Frank Russell Company
590 Madison Avenue
New York, NY 10022
United States

212-702-7900

Paris

Frank Russell Company S.A.
6, rue Christophe Colomb
75008 Paris
France

53-57-40-20

Sydney

Frank Russell Company Pty Limited
Level 24
Maritime Centre
207 Kent Street
Sydney, NSW 2000
Australia

(+61-2) 9770-8000
(+61-2) 9770-8010

Tokyo

Frank Russell Japan Co., Ltd.
Place Canada 3rd Fl.
3-37 Akasaka 7-chome
Minato-ku, Tokyo 107-0052
Japan

telephone: 3-5411-3500
Frank Russell Investments (Japan) 03-5411-3540
fax: 3-5411-3501

Toronto

Frank Russell Canada Limited
One First Canadian Place
100 King Street West
Suite 5900, P.O. Box 476
Toronto, Ontario M5X 1E4
Canada

416-362-8411

Zurich

Frank Russell AG
Zollikerstrasse 60
8702 Zollikon
Switzerland

011-41-1-396-3060