heyhi asked in 商業及金融投資 · 1 decade ago

Index 問題

什麼是 SPTR Index?

什麼是 TPXD500 Index?

什麼是 MSCI Index?

它們有咩用?

Update:

Thanks so much for your detailed explanation.

Just don't very clear on this part.

Are MSCI US, SPTR Index and Standard & Poor's all for measuring US companies' performance? What do they indicate respectively then?

Update 2:

Thank you for your detailed explantion.

Just not quite understand this. Is SPTR = Standard Poor's? MSCI US, SPTR and Standard & Poor's are all for seeing US industry, what's the difference between them?

Update 3:

Then each index will typically applied to which type of investment? I mean when I will need which index when considering my investment portfolio?

1 Answer

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  • 1 decade ago
    Favorite Answer

    SPTR Index is S&P 500 Total Return Index. This is the total return version of the S&P 500 index (i.e. including dividends and etc). This index is designed to measure performance of the board US domestic economy thorugh 500 US companies representing all major industries.

    TPXD500 Index is the Topix 500 index without dividend. This index is designed to measure performance of the board Japan domestic economy thorugh 500 Japanese companies representing all major industries

    Morgan Stanley Capital International Index (MSCI) is calculated based on Global Industry Classification Standard (GICS) . Was developed together by MSCI and Standard & Poor's to provide customised index of sectors, industries, countries and regions (i.e. MSCI World, MSCI US, MSCI World Energy and etc)

    Index is to provide to an idea of what you could be expected (in general) if you invested into this country, or we called the country overall expected return. For example, if the S&P 500 Index raise, my expectation would be that "in general", most US companies stock should be up.

    Index is also a very good way to compare your investments against the relevant market, for example if Hang Seng Index up by 10% and my HK stock only up by 5%, then my investment return is not doing as good as the HK market. If with the same stock, when index is down by 10% and my investment is only down by 5%, then my investment return is now doing better than the HK market. So this would mean that my investment is more defensive than the general HK market (i.e. less volitile).

    Let me know if you need clarification.

    Hope this help

    Cheers

    2009-07-24 18:57:45 補充:

    MSCI US, S&P 500 Total Return (SPTR), and S&P 500 (SPX) are all measuring the overall US market performance.

    For the 2009 return (upto Jul 23, 2009)

    MSCI US is 8.76%

    MSCI US Total Return (including dividends) is 10.2%

    S&P 500 (SPX) is 8.09%

    S&P 500 Total Return (SPTR) is 9.68%

    to be continue...

    2009-07-24 19:00:55 補充:

    MSCI US and S&P 500 use different methodology to pick the underlying index stocks. S&P 500 limited 500 companies to represent the US market where MSCI US has over 600 US stocks in the index. The total return version is just adding dividend payments into the index calculation.

    Hope this help

    Cheers

    2009-07-24 19:02:13 補充:

    In case if you need further clarification, drop me an email as "補充內容" has limit to number of words. So very hard to do a full explaination.

    2009-07-25 18:01:00 補充:

    Standard and Poor's is a company. SPTR is one of its index tracking the US market.

    MSCI is also a company and MSCI US is one of its index tracking the US market.

    2009-07-25 18:01:04 補充:

    MSCI US and SPTR both track the US market but they are provided by different company and they use different calculation method.

    SPTR have only 500 stocks in the index. MSCI have over 600 stocks in the index.

    2009-07-25 18:03:17 補充:

    Website of Stand and Poor's (S&P)

    http://www2.standardandpoors.com/

    Website of Morgan Stanley Capital International (MSCI)

    http://www.mscibarra.com/index.jsp

    2009-07-27 23:24:52 補充:

    You can use either MSCI US or SPTR to the your US equity investments. It doesn't really matter which one you select because they both track the US market.

    2009-07-27 23:25:10 補充:

    I would prefer the total return version as it gives you a better idea of the difference between your investment against index return after including dividends.

    Source(s): my experience and source from Bloomberg
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