S&P 500 Banks Index
The S&P 500 Banks Index is a sub-index of the well-known S&P 500 . The index is developed and calculated by Standard & Poor's . It is an industry index for US banks. 22 credit institutions are currently represented in the index. The index was developed with an original index level of 10 points for the base period 1941 to 1943. The index reached its previous high on February 16, 2008 with an index level of 412.58 points. In addition to its function as an industry barometer, the index primarily serves as a base value for financial products such as certificates or ETFs .
Index members (as of August 2008)
| Surname | Weighting in the S&P 500 Banks Index (in%) |
|---|---|
| Wells Fargo | 30.26% |
| US Bancorp | 16.92% |
| Wachovia Corporation | 10.25% |
| PNC Financial Services Group | 7.64% |
| BB&T Corporation | 5.07% |
| Suntrust Banks, Inc. | 4.66% |
| Hudson City Bancorporation, Inc. | 2.99% |
| Fifth Third Bancorp | 2.67% |
| Fannie Mae | 2.59% |
| Washington Mutual, Inc. | 2.08% |
| Regions Financial Corp. | 1.95% |
| M&T Bank Corp. | 1.77% |
| KeyCorp | 1.75% |
| Sovereign Bancorp, Inc. | 1.55% |
| Comerica, Inc. | 1.4% |
| Marshall & Ilsley Corp. | 1.26% |
| National City Corp. | 1.22% |
| Freddie Mac | 1.16% |
| Zion's Bancorporation | 0.93% |
| Huntington Bancshares, Inc. | 0.90% |
| First Horizon National Corporation | 0.65% |
| MGIC Investment Corporation | 0.33% |