Infrastructure Capital Advisors
Income from Real Assets
Indices / Performance Terminology
The following is a list of the various indices and performance terminology used in our InfraCap reports, training, and weekly and monthly market and economic updates.
_________________________________
Large Cap Growth - RLG stands for Russell 1000 Growth Index, which is a benchmark that tracks large-cap growth stocks (RLG Index Large Cap Growth Index).
Large Cap Value - The Dow Jones U.S. Large-Cap Value Total Stock Market Index, or DWLVT index, is a subset of the Dow Jones U.S. Total Stock Market index.
Small Cap - The Russell 2000 Index (RTY) is a market index that measures the performance of about 2,000 small-cap U.S. equities (RTY Index).
Small Cap Growth - The S&P SmallCap 600 Growth Index measures the performance of the small-cap growth segment in the US equity market (SPTRSG Index).
Small Cap Value - We measure value stocks using three factors: the ratios of book value, earnings, and sales to price. S&P Style Indices divide the complete market capitalization (SPTRSV Index).
Preferreds - The S&P U.S. Preferred Stock Index is a benchmark representing the U.S. Preferred stock market. Preferred stocks are a class of capital stock that pays dividends at a specified rate and has a preference over common stock in the payment of dividends and the liquidation of assets. SPTREFTR Index or SPPREF Index or PFF Equity - The S&P U.S. Preferred Stock Index (SPTREFTER) is designed to measure the performance of the U.S. preferred stock market.
Diversified Index - Assumes a 60/40 split large-cap growth index / IG bonds index
International Equities - The MSCI World Index is an international equity index that tracks stocks from 23 developed countries (MXWO Index).
IG Bonds - LUACTRUU:IND is the Bloomberg US Corporate Bond Index, which measures the fixed-rate, taxable corporate bond market. It's also known as "IG Corporate Bonds".
HY Bonds - The Bloomberg US Corporate High Yield Bond Index (LF98TRUU Index) is a benchmark for portfolios that include riskier corporate bonds.
Commodities - The Bloomberg Commodity Index (BCOM) is a financial benchmark that tracks the prices of physical commodity futures contracts (BCOM Index).
Telecoms (S5TELS Index) - Standard and Poor's 500 Telecommunication Services Index is a capitalization-weighted index. The index was developed with a base level of 10 for the 1941-43 base period. The parent index is SPXL1. This is a GICS Level 1 Sector group. Intraday values are calculated by Bloomberg.
REIT (REIT Index) - Dow Jones EQUITY REIT Total Return Index. This index is comprised of REITs that directly own all or part of the properties in their portfolios. Dividend payouts have been added to the price changes. The index is quoted in USD.
Dividend Arist. (SPDAUDP Index) - The S&P 500 Dividend Aristocrats index is designed to measure the performance of S&P 500 index constituents that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years.
S&P 500 (SPX Index) - Standard and Poor's 500 Index is a capitalization-weighted index of 500 stocks. The index is designed to measure the performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The index was developed with a base level of 10 for the 1941-43 base period.
The S&P 500 High Dividend Index (SPXHDUT Index) - serves as a benchmark for income-seeking equity investors. The index is designed to measure the performance of 80 high-yield companies within the S&P 500 and is equally weighted to best represent the performance of this group, regardless of constituent size.
Treasury 2-Yr (H15T2Y Index) - US Treasury Yield Curve Rate T Note Constant Maturity 2 Year compiled from the Board of Governors Federal Reserve System.
Treasury 10Yr (H15T10Y Index) - US Treasury Yield Curve Rate T Note Constant Maturity 10 Year compiled from the Board of Governors Federal Reserve System.
Barclays US Treasury Total Return USD (LUATTRUU Index) - The Bloomberg Barclays US Treasury Index measures US dollar-denominated, fixed-rate, nominal debt issued by the US Treasury. Treasury bills are excluded by the maturity constraint but are part of a separate Short Treasury Index.
Municipal Bonds - Municipal (049M10Y Index) - Fair market value indices are derived from data points on Bloomberg's option-free Fair Market Curves prior to 11/13/14. The yield curve is built using a non-parametric fit of market data obtained from the Municipal Securities Rulemaking Board. LMBITR Index - Bloomberg Municipal Bond Index Total Return Index represents performance of municipal bond market unhedged.
BofA Merrill Lynch US Corporate BBB Effective yield - This data represents the effective yield of the BofA Merrill Lynch US Corporate BBB Index, a subset of the BofA Merrill Lynch US Corporate Master Index tracking the performance of US dollar-denominated investment grade rated corporate debt publically issued in the US domestic market. This subset includes all securities with a given investment grade rating of BBB. When the last calendar day of the month takes place on the weekend, weekend observations will occur as a result of month-ending accrued interest adjustments
High Yield (LF98TRUU Index) - The Bloomberg Barclays US Corporate High Yield Bond Index measures the USD-denominated, high-yield, fixed-rate corporate bond market. Securities are classified as high yield if the middle rating of Moody's, Fitch, and S&P is Ba1/BB+/BB+ or below.