KBW Announces Index Rebalancing for Fourth-Quarter 2021

NEW YORK, Dec. 10, 2021 (GLOBE NEWSWIRE) --  Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the fourth quarter of 2021.

This quarter, there are constituent changes within five of our indexes: the KBW Nasdaq Capital Markets Index (Index Ticker: KSX), the KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), the KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), the KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY) and the KBW Nasdaq Regional Banking Index (Index Ticker: KRX, ETF Ticker: KBWR).

There are a number of changes to the two modified-dividend-yield-weighted indexes – KDX and the 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 20, 2021.

As part of this rebalancing, below are the component level changes across impacted indices:  

KBW Nasdaq Capital Markets Index (Index Ticker: KSX)

Add (1):        Houlihan Lokey, Inc. (NYSE:HLI)

Delete (1):         Greenhill & Co., Inc. (NYSE:GHL)

GHL failed to meet the minimum trading liquidity required for continued index inclusion.

KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX; ETF Ticker: KBWD)

Add (18):        

AGNC Investment Corp. (NASDAQ:AGNC)

B. Riley Financial, Inc. (NASDAQ:RILY)

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Broadmark Realty Capital Inc. (NYSE:BRMK)

Dynex Capital, Inc. (NYSE:DX)

Ellington Financial Inc. (NYSE:EFC)

James River Group Holdings, Ltd. (NASDAQ:JRVR)

New Residential Investment Corp. (NYSE:NRZ)

Oaktree Specialty Lending Corporation (NASDAQ:OCSL)

OneMain Holdings, Inc. (NYSE:OMF)

Owl Rock Capital Corporation (NYSE:ORCC)

Patria Investments Limited (NASDAQ:PAX)

Pennymac Mortgage Investment Trust (NYSE:PMT)

Ready Capital Corporation (NYSE:RC)

Sculptor Capital Management, Inc. (NYSE:SCU)

Two Harbors Investment Corp. (NYSE:TWO)

Universal Insurance Holdings, Inc. (NYSE:UVE)

Whitehorse Finance, Inc. (NASDAQ:WHF)

Delete (16):         

Apollo Global Management, Inc. (NYSE:APO)

Arbor Realty Trust, Inc. (NYSE:ABR)

Ares Capital Corporation (NASDAQ:ARCC)

Ares Commercial Real Estate Corporation (NYSE:ACRE)

Chimera Investment Corporation (NYSE:CIM)

Flushing Financial Corporation (NASDAQ:FFIC)

Franklin Resources, Inc. (NYSE:BEN)

Hercules Capital, Inc. (NYSE:HTGC)

Janus Henderson Group Plc (NYSE:JHG)

Navient Corporation (NASDAQ:NAVI)

Orchid Island Capital, Inc. (NYSE:ORC)

Principal Financial Group, Inc. (NASDAQ:PFG)

Prospect Capital Corporation (NASDAQ:PSEC)

Starwood Property Trust, Inc. (NYSE:STWD)

Umpqua Holdings Corporation (NASDAQ:UMPQ)

Virtu Financial, Inc. (NASDAQ:VIRT)

KBW Nasdaq Financial Technology Index (Index Ticker: KFTX; ETF Ticker: FTEK.LN)

Add (4):        

Affirm Holdings, Inc. (NASDAQ:AFRM)

Bill.com Holdings, Inc. (NYSE:BILL)

Coinbase Global, Inc. (NASDAQ:COIN)

SoFi Technologies, Inc. (NASDAQ:SOFI)

Delete (2):         

Alliance Data Systems Corporation (NYSE:ADS)

Loyalty Ventures Inc. (NASDAQ:LYLT)

ADS and LYLT are discretionary removals.

KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX; ETF Ticker: KBWY)

Add (12):        

American Campus Communities, Inc. (NYSE:ACC)

Armada Hoffler Properties, Inc. (NYSE:AHH)

Easterly Government Properties, Inc. (NYSE:DEA)

EPR Properties (NYSE:EPR)

Four Corners Property Trust, Inc. (NYSE:FCPT)

Gaming and Leisure Properties, Inc. (NASDAQ:GLPI)

Getty Realty Corp. (NYSE:GTY)

Medical Properties Trust, Inc. (NYSE:MPW)

National Retail Properties, Inc. (NYSE:NNN)

Omega Healthcare Investors, Inc. (NYSE:OHI)

Store Capital Corporation (NYSE:STOR)

Urstadt Biddle Properties Inc. (NYSE:UBA)

Delete (8):         

Catchmark Timber Trust, Inc. (NYSE:CTT)

City Office REIT, Inc. (NYSE:CIO)

Essential Properties Realty Trust, Inc. (NYSE: EPRT

Global Medical REIT Inc. (NYSE: GMRE)

Independence Realty Trust, Inc. (NYSE:IRT)

Physicians Realty Trust (NYSE:DOC)

Uniti Group Inc. (NASDAQ:UNIT)

Washington Real Estate Investment Trust (NYSE:WRE)

KBW Nasdaq Regional Banking Index (Index Ticker: KRX; ETF Ticker: KBWR)

Add (2):        

Atlantic Union Bankshares Corporation (NASDAQ:AUB)

First Interstate Bancsystem, Inc. (NASDAQ:FIBK)

Delete (2):         

Investors Bancorp, Inc. (NASDAQ:ISBC)

Umpqua Holdings Corporation (NASDAQ:UMPQ)        

ISBC and UMPQ's removals are due to their involvement as targets in pending acquisitions.

Several of the KBW Nasdaq indices have tradable exchange‐traded funds licensed: KBW Nasdaq Bank Index (Index Ticker: BKX^SM, ETF Ticker: KBWB^SM); KBW Nasdaq Capital Markets Index (Index Ticker: KSX^SM); KBW Nasdaq Insurance Index (Index Ticker: KIX^SM); KBW Nasdaq Regional Banking Index (Index Ticker: KRX^SM, ETF Ticker: KBWR^SM); KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX^SM, ETF Ticker: KBWD^SM); KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX^SM, ETF Ticker: KBWY^SM); KBW Nasdaq Property and Casualty Insurance Index (Index Ticker: KPX^SM, ETF Ticker: KBWP^SM); KBW Nasdaq Global Bank Index (Index Ticker: GBKX^SM); KBW Nasdaq Financial Technology Index (Index Ticker: KFTX^SM, ETF Ticker: FTEK.LN^SM).

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