NQUSCV Nasdaq U.S. Contrarian Value Index

To be eligible for inclusion in the Index, a security must meet the following criteria: 1) be a component of the Nasdaq US Large Mid Index (NQUSBLM); 2) security cannot be classified as a Utilities company according under the Industry Classification Benchmark (ICB); 3) be in the top three deciles of book yield if the market environment is classified as a “bear market” or be in the top three deciles of adjusted book yield if the market environment is classified as “normal market”. If the market condition is “normal market”, then the leverage (net debt/EBITDA), twelve-month price volatility, and forward earnings dispersion (standard deviation of earnings estimates) for each security is calculated as of most recent quarter end. Then the rank and decile of the leverage, twelve-month price volatility, and forward earnings dispersion values are determined. If a security is in the top three deciles by book yield but is in deciles nine and ten by leverage, twelve-month price volatility, or forward earnings dispersion, then that security is placed at the 50th percentile within the book yield ranks. This is the adjusted book yield rank of a security. The final book yield rank is determined by re-ranking the adjusted book yield rank. Then the top three deciles are selected from the final book yield ranks to determine the final basket. The Index employs a decile-based weighting methodology. The top three deciles in the Index get a weight of 50%, 35% and 15%, respectively.

1,177.44
As of 08/14/2020


Index Information
Provider:     NASDAQ OMX
Category1:  US Equity
Category2:  Broad market
Category3:  Large and mid cap
Currency:    USD
Inception date:  06/26/2017
Backtesting data exists:   Yes
Weighting methodology:   Other
Number of holdings:  254  (as of 09/27/2017)
Total return version:  NQUSCVT


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