The term S&P 1500 Composite Growth refers to an index that includes a subset of the securities found in the S&P 400, S&P 500, and S&P 600 Indices. The S&P 1500 Growth is published and maintained by S&P Dow Jones Indices.
The S&P 1500 is a composite index that includes securities that account for 90% of the total market capitalization of the United States' stocks. The index includes small, mid and large cap stocks. The S&P 1500 Growth is a subset of the securities appearing in the S&P 1500, which includes the S&P 500, 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 900 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 SPUSCG.
S&P Dow Jones first determines whether or not a stock appearing in the S&P 1500 has growth potential based on sales, earnings and momentum. These 900 securities are then placed in the Growth index. Those securities with the highest growth scores (approximately 350 securities) are placed in the Pure Growth index. In other words, the Pure Growth index is a subset of the Growth index, and includes common stock with the highest growth potential.