The S&P/ASX 200 (XJO) is Australia’s leading share market index and contains the top 200 ASX listed companies by float-adjusted market capitalisation. It accounts for 88% (December 2020) of Australia's equity market.
Australia's Top 200 companies by market capitalisation (not S&P constituents).
The S&P/ASX 200 launched on 3 April 2000.
The high percentage of market representation gives the index a dual function:
• To provide an accurate benchmark for the stock market as a whole
• Give institutional investors a highly liquid and tradable index
Listed companies place significant importance on their inclusion in the ASX 200 as it generates institutional interest, encourages investment and often entices research by stockbroking firms and analysts.
XJO, ^AXJO and INDEXASX:XJO.
Top 200 stocks by market capitalisation (Dec 2020)
• Dividend Yield is 2.80%
• PE Ratio is 55.40
Since inception, the index has returned 3.72% p.a. excluding dividends and 7.97% including dividends (Dec 2020).
Accumulation / Total Return
The S&P/ASX 200 Index does not include dividends.
The S&P/ASX 200 Gross Total Return Index (XJT) includes all cash dividends reinvested on the ex-dividend date. It's calculated every minute, unlike the S&P/ASX 200 Accumulation Index (XJOA) which is end-of-day only. Both are used as a performance benchmark for managed funds and portfolio returns.
The S&P/ASX 200 Net Total Return Index (XNT) includes all cash dividends reinvested on the ex-dividend date after the deduction of a 30% withholding tax (not applied to fully franked dividends).
Rebalances occur quarterly in March, June, September and December.
A five panel "Index Committee" rebalance the ASX 200 to ensure listing criteria and liquidity are maintained.
In June 2021, there were 3 additions and 3 removals. See a list of historical rebalance announcements.
Note: Market Index uses market capitalisation to generate the above share price list. This enables more accurate (and dynamic) overviews and includes ETFs.