KBW Announces Index Rebalancing for Fourth-Quarter 2020
NEW YORK, Dec. 11, 2020 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a full‐service, boutique investment bank and broker‐dealer that specializes in the financial services sector, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF), announces the upcoming index rebalancing for the fourth quarter of 2020.
This quarter, there are constituent changes within three of our indexes: the KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), the KBW Nasdaq Insurance Index (Index Ticker: KIX), and the KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY).
There are also a number of changes to the two modified-dividend-yield-weighted indexes, KDX and KYX, to adjust annually for relevant dividend yields and ensure the integrity of these indexes. Both KDX and KYX are specifically constructed to include those eligible companies with competitive dividend yields.
These changes will be effective prior to the opening of business on Monday, December 21, 2020.
As part of this rebalancing, below are the component level changes across various indices:
| KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX; ETF Ticker: KBWD) | ||
| Add (14): | Arbor Realty Trust, Inc. (NYSE: ABR) | |
| Ares Capital Corporation (NASDAQ: ARCC) | ||
| Ares Commercial Real Estate Corporation (NYSE: ACRE) | ||
| Bain Capital Specialty Finance, Inc. (NYSE: BCSF) | ||
| Capstead Mortgage Corporation (NYSE: CMO) | ||
| Chimera Investment Corporation (NYSE: CIM) | ||
| Flushing Financial Corporation (NASDAQ: FFIC) | ||
| Franklin Resources, Inc. (NYSE: BEN) | ||
| Goldman Sachs BDC, Inc. (NYSE: GSBD) | ||
| Hercules Capital, Inc. (NYSE: HTGC) | ||
| Heritage Commerce Corp (NASDAQ: HTBK) | ||
| Northwest Bancshares, Inc. (NASDQ: NWBI) | ||
| Provident Financial Services, Inc. (NYSE: PFS) | ||
| Starwood Property Trust, Inc. (NYSE: STWD) | ||
| Delete (14): | AGNC Investment Corp. (NASDAQ: AGNC) | |
| Ares Management Corporation (NYSE: ARES) | ||
| The Bank of N.T. Butterfield & Son Ltd. (NYSE: NTB) | ||
| BGC Partners, Inc. (NASDAQ: BGCP) | ||
| Dynex Capital, Inc. (NYSE: DX) | ||
| Hanmi Financial Corporation (NASDAQ: HAFC) | ||
| Invesco Ltd. (NYSE: IVZ) | ||
| Invesco Mortgage Capital Inc. (NYSE: IVR) | ||
| New Residential Investment Corp. (NYSE: NRZ) | ||
| Oxford Square Capital Corp. (NASDAQ: OXSQ) | ||
| PacWest Bancorp (NASDAQ: PACW) | ||
| PennantPark Investment Corporation (NASDAQ: PNNT) | ||
| People's United Financial, Inc. (NASDAQ: PBCT) | ||
| Two Harbors Investment Corp. (NYSE: TWO) | ||
| KBW Nasdaq Insurance Index (Index Ticker: KIX) | ||
| Add (1): | Equitable Holdings, Inc. (NYSE: EQH) | |
| Delete (1): | Willis Towers Watson Public Limited Company (NASDAQ: WLTW) | |
| KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX; ETF Ticker: KBWY) | ||
| Add (10): | CareTrust REIT, Inc. (NASDAQ: CTRE) | |
| CatchMark Timber Trust, Inc. (NYSE: CTT) | ||
| Essential Properties Realty Trust, Inc. (NYSE: EPRT) | ||
| Lexington Realty Trust (NYSE: LXP) | ||
| Monmouth Real Estate Investment Corporation (NYSE: MNR) | ||
| Physicians Realty Trust (NYSE: DOC) | ||
| Plymouth Industrial REIT, Inc. (NYSE: PLYM) | ||
| Spirit Realty Capital, Inc. (NYSE: SRC) | ||
| UMH Properties, Inc. (NYSE: UMH) | ||
| Washington Real Estate Investment Trust (NYSE: WRE) | ||
| Delete (10): | Diversified Healthcare Trust (NASDAQ: DHC) | |
| Lamar Advertising Company (NASDAQ: LAMR) | ||
| The Macerich Company (NYSE: MAC) | ||
| Mack-Cali Realty Corporation (NYSE: CLI) | ||
| New Senior Investment Group Inc. (NYSE: SNR) | ||
| RLJ Lodging Trust (NYSE: RLJ) | ||
| Service Properties Trust (NASDAQ: SVC) | ||
| STORE Capital Corporation (NYSE: STOR) | ||
| Vornado Realty Trust (NYSE: VNO) | ||
| Whitestone REIT (NYSE: WSR) | ||
Several of the KBW Nasdaq indices have tradable exchange‐traded funds licensed: KBW Nasdaq Bank Index (Index Ticker: BKXSM, ETF Ticker: KBWBSM); KBW Nasdaq Capital Markets Index (Index Ticker: KSXSM); KBW Nasdaq Insurance Index (Index Ticker: KIXSM); KBW Nasdaq Regional Banking Index (Index Ticker: KRXSM, ETF Ticker: KBWRSM); KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDXSM, ETF Ticker: KBWDSM); KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYXSM, ETF Ticker: KBWYSM); KBW Nasdaq Property and Casualty Insurance Index (Index Ticker: KPXSM, ETF Ticker: KBWPSM); KBW Nasdaq Global Bank Index (Index Ticker: GBKXSM); KBW Nasdaq Financial Technology Index (Index Ticker: KFTXSM, ETF Ticker: FTEK.LNSM).
Not all of the listed securities may be suitable for retail investors; in addition, not all of the listed securities may be available to U.S. investors. European investors interested in FTEK LN can contact Invesco at https://etf.invesco.com/gb/private/en/product/invesco-kbw-nasdaq-fintech-ucits-etf-acc/trading-information. U.S. investors cannot buy or hold FTEK LN. An investor cannot invest directly in an index.
About KBW
KBW (Keefe, Bruyette & Woods, Inc., operating in the U.S., and Stifel Nicolaus Europe Limited, also trading as Keefe, Bruyette & Woods Europe, operating in Europe) is a Stifel company. Over the years, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking and specialty finance sectors. Founded in 1962, the firm maintains industry‐leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities securities of financial services companies.
Media Contact
Neil Shapiro, (212) 271-3447
shapiron@stifel.com