About the SMI Risk Control, Leveraged, Dividend Points Indices
SIX offers various advanced Strategy Indices including SMI Risk Control, Leveraged and Dividend Points Indices. These Strategy Indices can be used to control risk (SMI Risk Control Indices), to apply leverage or short leverage (Leveraged Indices), and to understand and manage dividend risk (Dividend Points Indices).
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The Swiss Market Index (SMI) Risk Control Indices apply a target volatility concept to the SMI Total Return (TR) Index. While the risk profile of the SMI (TR) is the uncontrolled outcome of the existing market capitalization weighted index concept, the Risk Control Index controls risk by aiming for a target volatility of 5%, 10%, 15% and 20%. In order to control risk, the index shifts between a risk free money market investment (measured via SARON) and a risky part (measured by the SMI (TR) Index)
- The SMI Risk Control Indices are calculated every second. They have no index review as they have no components
- The indices were launched on June 1, 2012, with a base date of May 16, 2000. At that time, they were standardized at a base value of 1,000 points
- These indices are available as Gross Return and Excess Return calculation types
The Leveraged Indices reflect the daily returns of the underlying indices with added leverage. With underlying indices of either equities or bonds, the following types of indices are calculated: Leverage (leverage +2), Short (leverage -1) and Short Leverage (leverage -2).
- The Leveraged Indices are calculated in real-time tick-by-tick. They have no index review as they have no components
- The indices were launched on September 7, 2009, with a base date of December 30, 1999. At that time, they were standardized at different base values depending on the index
The Dividend Points Indices are a measure of regular cash distributions of constituents of an underlying parent index such as the Swiss Market Index (SMI), the SMI Mid Index and the Swiss Leader Index (SLI). The total performance of an equity index can be separated into the performance of the constituents’ equity price movements and the performance of cash distributions received from those equities.
These indices are therefore additional indices to the well-established market indicators SMI, SMIM and SLI. Futures on the SMI Dividend Points (FSMD) are traded via Eurex.
- Computationally, the dividend payments for the SMI, SMIM and SLI are converted into index dividend points and published daily after the close of trading
- The Dividend Point Indices are calculated end-of-day. They have no index review as they have no components
- The indices were launched on May 4, 2009 with a base date of December 22, 2008. At that time, they were standardized at a base value of 0 points
Performance
Key Product Information about the SMI Risk Control, Leveraged, Dividend Points Indices
| SMI Risk Control | Leveraged | Divident Points | |
|---|---|---|---|
| Historical Data Since | May 16, 2000 | December 30, 1999 | December 22, 2008 |
| Launch Date | June 1, 2012 | September 7, 2009 | May 4, 2009 |
| Calculation Interval | 1 second | tick-by-tick | End-of-day |
Factsheets
Explore our factsheets to gain in-depth insights into our indices at SIX. Find detailed descriptions, key figures, the methodology and much more. Statistical factsheets are available on the SIX Index Data Center.
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For current and historic index compositions, selection lists, index preview and review information as well as historical index values, please visit the SIX Index Data Center.
Additional Information
The use of SMI Risk Control, Leveraged, Dividend Points Indices and their registered trademarks as well as the access to restricted index data are governed by a licensing agreement. To request for an index data license, please get in touch with us.
- SMI Risk Control Indices Historical Closing Prices
- Leveraged Indices Historical Closing Prices
- Dividend Points Indices Historical Closing Prices
- Dividend Points Indices Calculation Examples
- SIX Calculated Indices
- SMI Risk Control Indices Methodology Rulebook
- Leveraged Indices Methodology Rulebook
- Divided Points Indices Methodology Rulebook
- Instructions for Using SIX Disclaimer
- Download Center
- Index Explorer
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