Headline Index Variants

These indices replicate the constituents of some headline index, but with an alternate weighting methodology.

 Index Details

Expand All
Collapse All
  • Top 40 – USD (J20U)

    The Top 40 – USD Index mirrors the Top 40 Index (J200), but is calculated using constituent prices valued in USD instead of ZAR.
    CharacteristicDescription
    NameShareholder Top 40 USD
    Index CodeJ20U
    Alpha CodeUTOP
    Index CategoryHeadline Index Variants
    UniverseTop 40 Index (J200)
    Fixed No. of Companies40
    Liquidity ScreeningYes
    Free Float ScreeningMinimum of 15%
    Other ScreeningN/A
    Weighting MethodologyFree Float Market Cap Weighted (USD)
    Capping MethodologyN/A
    Index ReviewQuarterly in March, June, September and December
    Buffer Size5
    Dissemination15 seconds
    Live Date2008/07/16
  • Top 40 Dividend (J2DV)

    The Top 40 Dividend Index is the cumulative total of all gross ex-dividend adjustments applied to the Top 40 Index (J200), since inception, measured in index points. The index does not have constituents.
    CharacteristicDescription
    NameTop 40 Dividend
    Index CodeJ2DV
    Alpha CodeTDIV
    Index CategoryHeadline Index Variants
    UniverseTop 40 Index (J200)
    Fixed No. of Companies40
    Liquidity ScreeningYes
    Free Float ScreeningMinimum of 15%
    Other ScreeningN/A
    Weighting MethodologyHistorical Dividends
    Capping MethodologyN/A
    Index ReviewQuarterly in March, June, September and December
    Buffer Size5
    DisseminationEnd of Day
    Live Date2011/10/01
  • Equally Weighted Top 40 (J2EQ)

    The Equally Weighted Top 40 Index replicates the constituents of the Top 40 Index (J200), but the constituents are equally weighted. Reweighting occurs at each quarterly review and can fluctuate between reviews.
    CharacteristicDescription
    NameEqually Weighted Top 40
    Index CodeJ2EQ
    Alpha CodeETOP
    Index CategoryHeadline Index Variants
    UniverseTop 40 Index (J200)
    Fixed No. of Companies40
    Liquidity ScreeningYes
    Free Float ScreeningMinimum of 15%
    Other ScreeningN/A
    Weighting MethodologyEqually Weighted
    Capping MethodologyYes, 2.5%
    Index ReviewQuarterly in March, June, September and December
    Buffer Size5
    Dissemination15 seconds
    Live Date2010/07/01
  • Capped Top 40 (J300)

    The Capped Top 40 Index is constructed in the same way as the Top 40 Index (J200), but all constituents with a weight larger than 10% in the index are capped at a fixed level of 10% at each quarterly review.
    CharacteristicDescription
    NameCapped Top 40
    Index CodeJ300
    Alpha CodeCTOP
    Index CategoryHeadline Index Variants
    UniverseTop 40 Index (J200)
    Fixed No. of Companies40
    Liquidity ScreeningYes
    Free Float ScreeningMinimum of 15%
    Other ScreeningN/A
    Weighting MethodologyFree Float Market Cap Weighted
    Capping MethodologyYes, 10%
    Index ReviewQuarterly in March, June, September and December
    Buffer Size5
    Dissemination15 seconds
    Live Date2003/07/01
  • Capped All Share (J303)

    The Capped All Share Index is constructed in the same way as the All Share Index (J203), but all constituents with a weight larger than 10% in the index are capped at a fixed level of 10% at each quarterly review.
    CharacteristicDescription
    NameCapped All Share
    Index CodeJ303
    Alpha CodeCALS
    Index CategoryHeadline Index Variants
    UniverseAll Share Index (J203)
    Fixed No. of CompaniesNo
    Liquidity ScreeningYes
    Free Float ScreeningMinimum of 15%
    Other ScreeningN/A
    Weighting MethodologyFree Float Market Cap Weighted
    Capping MethodologyYes, 10%
    Index ReviewQuarterly in March, June, September and December
    Buffer SizeN/A
    Dissemination60 seconds
    Live Date2003/07/01
  • Top 40 Net TRI (JN00)

    An alternate valuation for the Top 40 Index (J200), whereby the Total Return Index (TRI) is calculated using net dividend rates (“net in the hands of the SA investor”). Dividend withholding tax is deducted from the declared dividend with the resulting net dividend used in the XD adjustment.
    CharacteristicDescription
    NameTop 40 Net Total Return
    Index CodeJN00
    Alpha CodeTOPN
    Index CategoryHeadline Index Variants
    UniverseTop 40 Index (J200)
    Fixed No. of Companies40
    Liquidity ScreeningYes
    Free Float ScreeningMinimum of 15%
    Other ScreeningN/A
    Weighting MethodologyNet Dividends
    Capping MethodologyN/A
    Index ReviewQuarterly in March, June, September and December
    Buffer Size5
    DisseminationReal Time
    Live Date2012/04/16
  • Top 40 USD Net TRI (JN0U)

    An alternate valuation for the Top 40 - USD Index (J20U), whereby the Total Return Index (TRI) is calculated using net dividend rates (“net in the hands of the SA investor”). Dividend withholding tax is deducted from the declared dividend with the resulting net dividend used in the XD adjustment.
    CharacteristicDescription
    NameTop 40 - USD Net Total Return
    Index CodeJN0U
    Alpha CodeUTPN
    Index CategoryHeadline Index Variants
    UniverseTop 40 - USD Index (J20U)
    Fixed No. of Companies40
    Liquidity ScreeningYes
    Free Float ScreeningMinimum of 15%
    Other ScreeningN/A
    Weighting MethodologyNet Dividends
    Capping MethodologyN/A
    Index ReviewQuarterly in March, June, September and December
    Buffer Size5
    DisseminationReal Time
    Live Date2012/04/16
  • All Share Net TRI (JN23)
    An alternate for the All Share Index (J203), whereby the Total Return Index (TRI) is calculated using net dividend rates (“net in the hands of the SA investor”). Dividend withholding tax is deducted from the declared dividend with the resulting net dividend used in the XD adjustment.
    CharacteristicDescription
    NameAll Share Net Total Return
    Index CodeJN23
    Alpha CodeALSN
    Index CategoryHeadline
    UniverseOrdinary shares listed on the JSE Main Board
    Fixed No. of CompaniesNo (160 companies in December / 99%)
    Liquidity ScreeningYes
    Free Float ScreeningMinimum of 15%
    Other ScreeningVarious screens including: Inward Foreign Listings, Secondary Line Size; Pyramid Status
    Weighting MethodologyNet Dividends
    Capping MethodologyN/A
    Index ReviewQuarterly in March, June, September and December
    Buffer SizeN/A
    DisseminationReal Time
    Live Date2013/11/25
  • Top 40 Expiry (J20X)
    Valuation of the Top 40 Index (J200) calculated exclusively during Futures Closeout Auction.
    CharacteristicDescription
    NameTop 40 Expiry
    Index CodeJ20X
    Alpha CodeTOPX
    Index CategoryHeadline Index Variants
    UniverseTop 40 Index (J200)
    Fixed No. of Companies40
    Liquidity ScreeningYes
    Free Float ScreeningMinimum of 15%
    Other ScreeningN/A
    Weighting MethodologyFree Float Market Cap Weighted
    Capping MethodologyN/A
    Index ReviewQuarterly in March, June, September and December
    Buffer Size5
    DisseminationEnd of Day
    Live Date2014/09/18​​​​​​​
  • Minimum Variance Top 40 (J700)

    The index follows the construction of the Top 40 Index (J200), but aims to minimise the volatility of the index based on historical return and volatility information.
    CharacteristicDescription
    NameMinimum Variance Top 40
    Index CodeJ700
    Alpha CodeTOPM
    Index CategoryHeadline Index Variants
    UniverseTop 40 Index (J200)
    Fixed No. of Companies40
    Liquidity ScreeningYes
    Free Float ScreeningMinimum of 15%
    Other ScreeningN/A
    Weighting MethodologyFree Float Market Cap Weighted
    Capping MethodologyN/A
    Index ReviewQuarterly in March, June, September and December
    Buffer Size5
    DisseminationEnd of Day
    Live Date

    2014/09/22​​

  • Minimum Variance All Share (J703)
    The index follows the construction of the All Share Index (J203), but aims to minimise the volatility of the index based on historical return and volatility information.
    CharacteristicDescription
    NameMinimum Variance All Share
    Index CodeJ703
    Alpha CodeALSM
    Index CategoryHeadline Index Variants
    UniverseAll Share Index (J203)
    Fixed No. of CompaniesNo
    Liquidity ScreeningYes
    Free Float ScreeningMinimum of 15%
    Other ScreeningN/A
    Weighting MethodologyFree Float Market Cap Weighted
    Capping MethodologyN/A
    Index ReviewQuarterly in March, June, September and December
    Buffer SizeN/A
    DisseminationEnd of Day
    Live Date2014/09/22​​​​
​Risk Target Indices

The Risk Target indices follows the construction of the Top 40 Net Total Return Index (JN00), but aims to provide specific risk-targeted exposures at three different levels of risk exposure, i.e. 10%, 15% and 20%.​​​

Index Code Index Name
​​J10E Top 40 Net 10% Risk Target Excess Return​
​J10P ​​​Top 40 Net 10% Risk Target Price Return
​J10T Top 40 Net 10% Risk Target Total Return Index​
J15E​​ Top 40 Net 15% Risk Target Excess Return​
​J15P Top 40 Net 15% Risk Target Price Return​
​J15T Top 40 Net 15% Risk Target Total Return Index​
​J20E ​Top 40 Net 20% Risk Target Excess Return
​J20P ​Top 40 Net 20% Risk Target Price Return
​J20T ​Top 40 Net 20% Risk Target Total Return Index​​​


 

 

 

 

 

 

FTSE_JSE Minimum Variance IndicesFTSE_JSE Minimum Variance Indiceshttps://www.jse.co.za/content/JSEBrochureItems/FTSE_JSE Minimum Variance Indices.pdfpdf
FTSE-JSE Capped Indices BrochureFTSE-JSE Capped Indices Brochurehttps://www.jse.co.za/content/JSEBrochureItems/FTSE-JSE Capped Indices Brochure.pdfpdf
FTSE-JSE Equally Weighted Top 40 IndexFTSE-JSE Equally Weighted Top 40 Indexhttps://www.jse.co.za/content/JSEBrochureItems/FTSE-JSE Equally Weighted Top 40 Index.pdfpdf
FTSE-JSE Capped Indices Fact Sheet FTSE-JSE Capped Indices Fact Sheet https://www.jse.co.za/content/JSEFactSheetItems/00 - FTSE-JSE Capped Indices Fact Sheet - April 2014.pdfpdf

Contact Us