Equity

S&P 500

Description
The S&P 500 is widely regarded as the best single gauge of large-cap U.S. equities. There is over USD 7.8 trillion
benchmarked to the index, with index assets comprising approximately USD 2.2 trillion of this total. The index includes
500 leading companies and captures approximately 80% coverage of available market capitalization.

Index Attributes
Created in 1957, the S&P 500 was the first U.S. market-cap-weighted stock market index. Today, its the basis of many
listed and over-the-counter investment instruments. This world-renowned index includes 500 of the top companies in
leading industries of the U.S. economy.

The S&P 500 is part of a series of S&P Dow Jones U.S. equity indices that can be used as mutually exclusive building
blocks; the index does not overlap holdings with the S&P MidCap 400 or S&P SmallCap 600. Together, they constitute
the S&P Composite 1500.

Methodology Construction
Universe. All constituents must be U.S. companies.
Eligibility Market Cap. Companies with market cap of USD 6.1 billion or greater.
Public Float. At least 50% of shares outstanding must be available for trading.
Financial Viability. Companies must have positive as-reported earnings over the most recent quarter, as well as over
the most recent four quarters (summed together).
Adequate Liquidity and Reasonable Price. Consists of highly tradable common stocks, with active and deep
markets.

Quick Facts
WEIGHTING METHOD Float-adjusted market cap weighted
REBALANCING FREQUENCY Quarterly, after the close on the third Friday of the quarter-ending month
CALCULATION FREQUENCY Real time
CALCULATION CURRENCIES USD, AUD, BRL, CAD, CHF, EUR, GBP, HKD, JPY, MXN, SGD
LAUNCH DATE March 4, 1957

For more information, including the complete methodology document, please visit:
http://www.spindices.com/indices/equity/sp-500

All information for an index prior to its Launch Date is back-tested, based on the methodology that was in effect on the Launch Date. Back-tested
performance, which is hypothetical and not actual performance, is subject to inherent limitations because it reflects application of an Index
methodology and selection of index constituents in hindsight. No theoretical approach can take into account all of the factors in the markets in general
and the impact of decisions that might have been made during the actual operation of an index. Actual returns may differ from, and be lower than,
back-tested returns.

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S&P 500

Historical Performance

S&P 500

Performance
INDEX LEVEL RETURNS ANNUALIZED RETURNS
1 MO 3 MOS YTD 1 YR 3 YRS 5 YRS 10 YRS

TOTAL RETURNS

4,532.93 3.97% 8.04% 5.94% 24.98% 10.63% 14.01% 7.62%

PRICE RETURNS

2,363.64 3.72% 7.50% 5.57% 22.33% 8.33% 11.60% 5.33%

NET TOTAL RETURNS

4,083.43 3.90% 7.87% 5.83% 24.17% 9.94% 13.28% 6.92%

Calendar Year Performance

2016 2015 2014 2013 2012 2011 2010 2009 2008 2007

TOTAL RETURNS

11.96% 1.38% 13.69% 32.39% 16.00% 2.11% 15.06% 26.46% -37.00% 5.49%

PRICE RETURNS

9.54% -0.73% 11.39% 29.60% 13.41% 0% 12.78% 23.45% -38.49% 3.53%

NET TOTAL RETURNS

11.23% 0.75% 12.99% 31.55% 15.22% 1.47% 14.37% 25.55% -37.45% 4.90%

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S&P 500

Risk
ANNUALIZED RISK ANNUALIZED RISK-ADJUSTED RETURNS

3 YRS 5 YRS 10 YRS 3 YRS 5 YRS 10 YRS

STD DEV

10.40% 10.24% 15.30% 1.02 1.37 0.50

Risk is defined as standard deviation calculated based on total returns using monthly values.

Fundamentals
P/E [TRAILING] P/E [PROJECTED] P/B INDICATED DIV YIELD P/SALES P/CASH FLOW

24.34 18.11 2.82 2.02% 1.90 16.34

P/E (Projected) and Indicated Dividend Yield are as of February 28, 2017; P/E (Trailing), P/B, P/Sales, and P/Cash Flow are as of September 30, 2016.
Fundamentals are updated on approximately the fifth business day of each month.

Index Characteristics
NUMBER OF CONSTITUENTS 505
CONSTITUENT MARKET CAP [USD MILLION]
MEAN TOTAL MARKET CAP 42,280.21
LARGEST TOTAL MARKET CAP 730,473.56
SMALLEST TOTAL MARKET CAP 2,533.75
MEDIAN TOTAL MARKET CAP 20,141.35
WEIGHT LARGEST CONSTITUENT [%] 3.6
WEIGHT TOP 10 CONSTITUENTS [%] 18.3

Top 10 Constituents By Index Weight

CONSTITUENT SYMBOL SECTOR*
Apple Inc. AAPL Information Technology
Microsoft Corp MSFT Information Technology
Exxon Mobil Corp XOM Energy
Amazon.com Inc AMZN Consumer Discretionary
Johnson & Johnson JNJ Health Care
Berkshire Hathaway B BRK.B Financials
JP Morgan Chase & Co JPM Financials
Facebook Inc A FB Information Technology
General Electric Co GE Industrials
Wells Fargo & Co WFC Financials

*Based on GICS sectors

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S&P 500

Sector* Breakdown

*Based on GICS sectors

The weightings for each sector of the index are rounded to the nearest tenth of a percent; therefore, the aggregate weights for the index may not equal
100%.

Country Breakdown
COUNTRY NUMBER OF CONSTITUENTS TOTAL MARKET CAP [USD MILLION] INDEX WEIGHT [%]
United States 505 21,351,504.00 100.0

Based on index constituents country of domicile.

Tickers
TICKER REUTERS
PRICE RETURNS SPX .spx
TOTAL RETURNS SPXT .SPXTR
NET TOTAL RETURNS SPTR500N .SPXNTR

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S&P 500

Related Products
This list includes investable products traded on certain exchanges currently linked to this selection of indices. While we have tried to include all such
products, we do not guarantee the completeness or accuracy of such lists. Please refer to the disclaimers at the end of this document or here
for more information about S&P Dow Jones Indices relationship to such third party product offerings.

PRODUCT NAME PRODUCT TYPE EXCHANGE TICKER

Amundi ETF S&P 500 UCITS ETF ETF EN Paris 500
AMUNDI ETF S&P 500 UCITS ETF - D ETF EN Paris 500D
AMUNDI INDEX S&P 500 - UCITS ETF DR ETF EN Paris S500
BetaShares S&P 500 Yield Maximiser Fund ETF ASE UMAX
BetaShares US Equities Strong Bear Hedge Fund - Currency Hedged ETF ASE BBUS
BMO S&P 500 ETF ETF Toronto ZSP
Bosera Standard and Poor's 500 ETF ETF Shanghai 513500
ComStage ETF S&P 500 UCITS ETF ETF Xetra ETF C012
CoreShares S&P 500 ETF ETF Johannesburg CSP500
CoreShares S&P 500 Exchange Traded Fund ETF SEM CSP500
db x-trackers S&P 500 UCITS ETF 1C ETF London XSPX
Direxion Daily S&P 500 Bear 3X Shares ETF NYSE Arca SPXS
Direxion Daily S&P 500 Bull 1.25X Shares ETF NYSE Arca LLSP
Direxion Daily S&P 500 Bull 2X Shares ETF NYSE Arca SPUU
Direxion Daily S&P 500 Bull 3X ETF NYSE Arca SPXL
Direxion Shares Etf Trust-Direxion Daily S&P 500 Bear 1x Shares ETF NYSE Arca SPDN
Horizons BetaPro S&P 500 Bear Plus ETF ETF Toronto HSD
Horizons BetaPro S&P 500 Bull Plus ETF ETF Toronto HSU
Horizons BetaPro S&P 500 Inverse ETF ETF Toronto HIU
HSBC S&P 500 UCITS ETF (GBp) ETF London HSPX
iShares Core S&P 500 ETF ETF NYSE Arca IVV
iShares Core S&P 500 UCITS ETF ETF SIX Swiss Ex CSSPX
iShares S&P 500 AUD Hedged ETF ETF ASE IHVV
iShares S&P 500 Index ETF ETF Toronto XUS
iShares S&P 500 UCITS ETF Inc ETF London IUSA
It Now S&P500 TRN Fundo de Indice ETF BM&FBOVESPA SPXI11
Lyxor ETF S&P 500 ETF London LSPU
Lyxor S&P 500 UCITS ETF ETF Xetra ETF LYPS
LYXOR UCITS ETF PEA S&P 500 C-EUR ETF EN Paris PSP5
Nikko Listed Index Fund US Equity S&P500 ETF Tokyo 1547
ProShares Short S&P500 ETF NYSE Arca SH
ProShares Ultra S&P500 ETF NYSE Arca SSO
ProShares UltraPro S&P 500 ETF NYSE Arca UPRO
ProShares UltraPro Short S&P 500 ETF NYSE Arca SPXU
ProShares UltraShort S&P500 ETF NYSE Arca SDS
S&P 500 Source ETF ETF London SPXS
S&P 500 THEAM Easy UCITS ETF - C EUR ETF EN Paris ESE
S&P 500 THEAM Easy UCITS ETF - C USD ETF EN Paris ESD

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S&P 500

PRODUCT NAME PRODUCT TYPE EXCHANGE TICKER

S&P 500 THEAM Easy UCITS ETF - C/D USD ETF EN Paris ESDD
Source S&P 500 UCITS ETF B ETF Xetra ETF D500
SPDR S&P 500 ETF Trust ETF NYSE Arca SPY
SPDR S&P 500 UCITS ETF ETF Xetra ETF SPY5
TD S&P 500 Index ETF ETF Toronto TPU
UBS ETFs plc - MAP Balanced 7 UCITS ETF SF ETF SIX Swiss Ex M7USAS
UBS ETFs plc - S&P 500 Index SF ETF SIX Swiss Ex S5USAS
UBS Irl ETF plc - S&P 500 UCITS ETF ETF BrsaItaliana SP5EUY
Vanguard S&P 500 ETF London VUSA
Vanguard S&P 500 ETF ETF NYSE Arca VOO
Vanguard S&P 500 Index ETF ETF Toronto VFV
Yuanta S&P 500 ETF ETF Taiwan 646
Barclays ETN+ Long B Leveraged ETN NYSE Arca BXUB
Barclays ETN+ Long C Leveraged ETN NYSE Arca BXUC
ETRACS MNTHLY RESET 2XS&P500 ETN NYSE Arca SPLX
HAREL SAL S&P 500 ETN Tel Aviv HRS&P25
HAREL SAL S&P INS ETN Tel Aviv HRSPX50
IPATH CBOE S&P 500 BUYWRITE ETN NYSE Arca BWV
IPATH LX S&P 500 ETN ETN NYSE Arca SFLA
KSM LEV S&P 500 PRX3 MTH 6DA ETN Tel Aviv KS50050
KSM LEV SHRT S&P500 PRX3 MTH ETN Tel Aviv KSSSNP53
KSM S&P 500 PR 4DA ETN Tel Aviv KSMSP
KSM S&P 500 PR ILS 40A ETN Tel Aviv KSMSPILS
KSM SHORT S&P500 3000 PR 6DA ETN Tel Aviv KSHORTSP
PSAGOT S&P SHORT X3 ETN Tel Aviv PSSP169
PSAGOT SAL S&P 500 ETN Tel Aviv PSP
PSAGOT SAL S&P 500 D2 ETN Tel Aviv MTVSP1
PSAGOT SAL S&P NIS ETN Tel Aviv PS50047
TACHLIT S&P 500 4DA ETN Tel Aviv TCSP4
TACHLIT S&P500 ILS 1 40A ETN Tel Aviv TSP5038
TACHLIT S&P500 ILS 2 40A ETN Tel Aviv INDSP18
E Fund S&P 500 Listed Open fund Shenzhen 161125
BTIC E-mini S&P 500 Index Futures Future CME EST
CBOE Volatility Index Futures Future CFE VIX
E-mini S&P 500 Index Futures Future CME ES
S&P 500 Index Futures Future CME SP
S&P 500 Variance Futures Future CBOE VA
CBOE Volatility Index Options Option CBOE VIX
E-mini S&P 500 End-of-Month Index Options Option CME EW
E-mini S&P 500 Index Options Option CME ES
E-mini S&P 500 Weekly Index Options Option CME EW*
Mini-SPX Index Options Option CBOE XSP
S&P 500 a-Flex Index Options Option CME XP
S&P 500 e-Flex Index Options Option CME YP

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S&P 500

PRODUCT NAME PRODUCT TYPE EXCHANGE TICKER

S&P 500 End-of-Month Index Options Option CME EV
S&P 500 Index Options Option CBOE SPX
S&P 500 Weekly Index Options Option CME EV*
SPXpm Index Options Option CBOE SPXPM

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S&P 500

Disclaimer
Source: S&P Dow Jones Indices LLC, a division of S&P Global.

The launch date of the S&P 500 was March 4, 1957.

All information presented prior to the index launch date is back-tested. Back-tested performance is not actual performance, but is hypothetical. The
back-test calculations are based on the same methodology that was in effect when the index was officially launched. Past performance is not an
indication or guarantee of future results. Please see the Performance Disclosure at http://www.spindices.com/regulatory-affairs-disclaimers/ for more
information regarding the inherent limitations associated with back-tested performance.

Copyright 2017 S&P Dow Jones Indices LLC, a division of S&P Global. All rights reserved. Redistribution or reproduction in whole or in part are
prohibited without written permission. STANDARD & POORS and S&P are registered trademarks of Standard & Poors Financial Services LLC, a division
of S&P Global (S&P); DOW JONES is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been
licensed for use by S&P Dow Jones Indices LLC. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (S&P Dow Jones Indices)
and third party licensors makes no representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class
or market sector that it purports to represent and S&P Dow Jones Indices and its third party licensors shall have no liability for any errors, omissions, or
interruptions of any index or the data included therein. Past performance of an index is not an indication or guarantee of future results. This document
does not constitute an offer of any services. Except for certain custom index calculation services, all information provided by S&P Dow Jones Indices is
general in nature and not tailored to the needs of any person, entity or group of persons. S&P Dow Jones Indices receives compensation in connection
with licensing its indices to third parties and providing custom calculation services. It is not possible to invest directly in an index. Exposure to an asset
class represented by an index may be available through investable instruments offered by third parties that are based on that index. S&P Dow Jones
Indices does not sponsor, endorse, sell, promote or manage any investment fund or other investment product or vehicle that seeks to provide an
investment return based on the performance of any Index. S&P Dow Jones Indices LLC is not an investment or tax advisor. S&P Dow Jones Indices
makes no representation regarding the advisability of investing in any such investment fund or other investment product or vehicle. A tax advisor
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decision. Credit-related information and other analyses, including ratings, are generally provided by licensors and/or affiliates of S&P Dow Jones
Indices. Any credit-related information and other related analyses and statements are opinions as of the date they are expressed and are not
statements of fact. S&P Dow Jones Indices LLC is analytically separate and independent from any other analytical department. For more information
on any of our indices please visit www.spdji.com.

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