Financial Literacy
Financial LiteracyBeginner

The World's Stock Market Indices Explained

TradeSynapse23 mars 20267 min12

The World's Stock Market Indices Explained#

A stock index is a barometer measuring the performance of a group of shares. It lets you read the general direction of a market at a glance. When someone says "the Paris market gained 1%", what they actually mean is the performance of the CAC 40.

The Major Global Indices#

  • S&P 500 (USA): the 500 largest American companies — THE global benchmark
  • DJIA / Dow Jones (USA): 30 American blue chips — the oldest index (1896)
  • NASDAQ 100 (USA): the 100 largest tech companies — an outperformer since 2010
  • CAC 40 (France): the 40 largest French listed companies — LVMH, TotalEnergies and others
  • DAX 40 (Germany): the 40 largest German companies — SAP, Siemens and others
  • FTSE 100 (United Kingdom): the 100 largest British companies
  • Nikkei 225 (Japan): 225 companies listed in Tokyo — Toyota, Sony and others
  • MSCI World: 1,500+ stocks across 23 developed countries — the global index par excellence

How Are They Calculated?#

Market-cap weighted

ExamplesS&P 500, CAC 40, MSCI World
PrincipleThe bigger the company, the greater its weight
AdvantageReflects the reality of the market
DrawbackDominated by a handful of mega-caps
BiasApple alone is 7% of the S&P 500

Price weighted

ExamplesDow Jones, Nikkei 225
PrincipleThe higher the share price, the greater its weight
AdvantageSimple to calculate
DrawbackA stock split changes the weighting
BiasUnitedHealth ($500) weighs 10x more than Coca-Cola ($50)

10%/yr

Average S&P 500 return (historical)

500

Stocks in the S&P 500

1896

Dow Jones created

~80%

US share of the MSCI World

How to Invest in an Index#

You cannot buy an index directly. You use ETFs (trackers) that replicate its performance. The Vanguard S&P 500 UCITS ETF, for example, replicates the S&P 500 for just 0.07% in annual fees. It is the simplest and cheapest way to invest in the market.

Did You Know?

Warren Buffett bet $1 million that a simple S&P 500 ETF would beat the best hedge funds over ten years (2008-2017). He won: the S&P 500 returned 125% against 36% for the fund of hedge funds.

On TradeSynapse

Follow 27 global indices in real time on TradeSynapse. Compare their performance and simulate ETF investments to find the allocation that suits you.

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