The term Russell Top 50 Mega Cap Index refers to a composite that includes mega-cap companies located in the United States. The Russell Top 50 Mega Cap Index is published and maintained by FTSE Russell.
The Russell Top 50 Mega Cap Index is designed to measure the performance of the mega capitalization companies in the United States equities market. The index is a composite of roughly 50 securities issued by the largest companies in the U.S. in terms of market capitalization.
First launched on January 1, 2005, the companies included in the index are selected based on float-adjusted market capitalization. On the last trading day of May, FSTE Russell ranks eligible companies based on their total market capitalization values. On the last Friday of June, the index is reconstituted. To be eligible for inclusion in a U.S. equity market index, the securities must trade on the NYSE, NYSE MKT, NASDAQ, or ARCA exchanges. The performance of this index can be monitored via the Guggenheim S&P 500 Top 50 ticker symbol XLG.