The term S&P 1000 Composite Growth refers to an index that includes a subset of the securities found in the S&P 400 and S&P 600 Indices. The S&P 1000 Growth is published and maintained by S&P Dow Jones Indices.
The S&P 1000 is a composite index that includes small and mid-cap stocks issued in the United States. The S&P 1000 Growth is a subset of the securities appearing in the S&P 1000, which includes the S&P 400 and S&P 600 indices.
The components of this index were selected based on their growth potential with respect to sales, earnings relative to price, and momentum. These three criteria determine the security's growth score, which is used when selecting securities for inclusion in the Growth Index. First launched on December 16, 2005, the index is made up of approximately 580 securities. The composite is designed to provide investors with a measure of the performance of U.S. growth equities. The performance of the index can be tracked using the stock ticker SPUSTG.
S&P Dow Jones first determines whether a stock appearing in the S&P 1000 has growth potential based on sales, earnings and momentum. These 580 securities are then placed in the Growth index. Those securities with the highest growth scores (approximately 230 securities) are placed in the Pure Growth index. In other words, the Pure Growth index is a subset of the Growth index with the highest growth potential.