The term Russell 3000 Growth Index refers to a composite that includes large, mid, and small cap companies located in the United States that also exhibit a growth probability. The Russell 3000 Growth is published and maintained by FTSE Russell.
The Russell 3000 Index is designed to measure the performance of the large, mid-sized, and small capitalization companies in the United States equities market. The index is a composite of roughly 3,000 securities with a median market capitalization value of $1.5 billion. The Russell 3000 Growth Index is a subset of the securities found in the Russell 3000 Index. As of this writing, there were approximately 1,750 securities in the Russell 3000 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 July 1, 1995, 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 Core U.S. Growth ETF symbol IUSG.