The term Russell 1000 Growth Index refers to a composite that includes large and mid-cap companies located in the United States that also exhibit a growth probability. The Russell 1000 Growth is published and maintained by FTSE Russell.
The Russell 1000 Index is designed to be a measure of the large mid-sized capitalization companies in the United States equities market. The index is a composite of roughly 1,000 securities issued by the largest companies in the U.S. in terms of market capitalization. The Russell 1000 Growth Index is a subset of the securities found in the Russell 1000 Index. As of this writing, there were approximately 600 securities in the Russell 1000 Growth Index. The stocks included in the growth index are selected based on a “probability” of growth as measured by their Institutional Brokers' Estimate System (I/B/E/S) forecast of medium-term growth (2 year), and sales per share historical growth (5 year).
First launched on January 1, 1987, 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 iShares Russell 1000 Growth ETF ticker symbol IWF:US.