View source for S&P 400

{{short description|Stock market index}}
{{for|a list of S&P 400 companies|List of S&P 400 companies}}

{{Infobox Index
| name         = S&amp;P 400
| logo         =
| image        = 
| caption      = 
| foundation   = {{Start date and age|1991|06|19}}
| operator     = [[S&P Dow Jones Indices]]<ref name=S&P400Details>{{cite web|url= http://us.spindices.com/indices/equity/sp-400|title=S&P 400 Overview|access-date=January 20, 2013|publisher=S&P/Dow Jones Indices LLC}}</ref>
| exchanges    = {{ubl|[[NYSE]]|[[Nasdaq]]}}
| symbol       = {{ubl|MID|^MID|SP400|^SP400}}
| constituents = [[List of S&P 400 companies|401]]
| cap_level    = [[Market capitalization#Market cap terms|Mid-cap]]<ref name=S&P400Details />
| mcap         = {{US$|3.1&nbsp;trillion|link=yes}}<br />(''as of December 31, 2024'')<ref name=sp400sheet>{{cite web |url=https://www.spglobal.com/spdji/en/idsenhancedfactsheet/file.pdf?calcFrequency=M&force_download=true&hostIdentifier=48190c8c-42c4-46af-8d1a-0cd5db894797&indexId=410 |title=S&P 400® Factsheet |publisher=[[S&P Global]] |page=5}}</ref>
| weighting    = [[Capitalization-weighted index|Free-float capitalization-weighted]]<ref name=S&P400Methodology>{{cite web|url= http://us.spindices.com/documents/methodologies/methodology-sp-us-indices.pdf|title=S&P U.S. Indices Methodology|publisher=Standard & Poor's|access-date=16 December 2017}}</ref>
| related      = {{Collapsible list|
[[S&P 1500]]}}
| homepage     = {{URL|https://www.spglobal.com/spdji/en/indices/equity/sp-400|spglobal.com/sp-400}}
}}

The '''S&P MidCap 400 Index''', more commonly known as the '''S&P 400''', is a [[stock market index]] from [[S&P Dow Jones Indices]].

==Overview==
The index serves as a gauge for the U.S. [[Market capitalization#Market cap terms|mid-cap]] equities sector and is the most widely followed mid-cap index. It is part of the [[S&P 1500]], which also includes the [[S&P 500]] for larger U.S. based companies, and the [[S&P 600]] for smaller companies, though all three indices include a handful of foreign stocks that trade on the U.S. stock exchanges. 

To be included in the index, a stock must have a total market capitalization that ranges from $7.4 billion to $20.5 billion.<ref name="sp20250102">{{cite web |url = https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20250102-1476019/1476019_2025janmktcapguidelines.pdf |title= S&P Dow Jones Indices Announces Update to S&P Composite 1500 Market Cap Guidelines |date = January 2, 2025 |website=S&P Global |access-date = January 7, 2025}}</ref> These market cap eligibility criteria are for addition to an index, not for continued membership. As a result, an index constituent that appears to violate criteria for addition to that index is not removed unless ongoing conditions warrant an index change.<ref name="sp20250102"/>  

Additionally, same as [[S&P 500]] and [[S&P 600]], there is a financial viability requirement. Companies must have positive as-reported earnings over the most recent quarter, as well as over the most recent four quarters (summed together).

{{as of|2024|12|31}}, the median market cap was $7.0 billion with the market cap of the largest company in the index at nearly $23.4 billion and the smallest company at $1.56 billion. The index's market cap covers about 5 percent of the total US stock market.

== Record values ==

{| class="wikitable"
! Category
! colspan="2"|All-Time Highs
|-
| Closing || 3,390.26 || Monday, November 25, 2024
|-
| Intraday || 3,414.74 || Monday, November 25, 2024
|}

==Investing==
The following [[exchange-traded fund|exchange-traded funds (ETFs)]] attempt to track the index and sub-indexes:

'''Index Fund'''
* SPDR S&P MidCap 400 ETF ({{NYSE Arca|MDY}})<ref>[https://www.spdrs.com/product/fund.seam?ticker=MDY MDY - SPDR S&P MidCap 400 ETF] State Street Global Advisors (SSgA)</ref>
* Vanguard S&P Mid-Cap 400 ETF ({{NYSE Arca|IVOO}})<ref>{{cite web |url=https://personal.vanguard.com/us/funds/snapshot?FundId=3342&FundIntExt=INT |title=Vanguard S&P Mid-Cap 400 ETF}}</ref>
* iShares Core S&P Mid-Cap ETF ({{NYSE Arca|IJH}})<ref>[http://us.ishares.com/product_info/fund/overview/IJH.htm iShares Core S&P Mid-Cap ETF (IJH): Overview] iShares</ref>

'''Growth Index Fund'''
* SPDR S&P 400 Mid Cap Growth ETF ({{NYSE Arca|MDYG}})
* Vanguard S&P Mid-Cap 400 Growth ETF ({{NYSE Arca|IVOG}})
* iShares S&P Mid-Cap 400 Growth ETF ({{NYSE Arca|IJK}})

'''Value Index Fund'''
* SPDR S&P 400 Mid Cap Value ETF ({{NYSE Arca|MDYV}})
* Vanguard S&P Mid-Cap 400 Value ETF ({{NYSE Arca|IVOV}})
* iShares S&P Mid-Cap 400 Value ETF ({{NYSE Arca|IJJ}})

The SPDR fund was first, but the iShares fund is bigger; also they have different structures.<ref>[https://finance.yahoo.com/news/mid-cap-etfs-sweet-spot-123017302.html Mid-Cap ETFs Find a Sweet Spot] Yahoo Finance</ref>

==Versions==
The "S&P&nbsp;400" generally quoted is a [[price return]] index; there are also "total return" and "net total return" versions of the index. These versions differ in how [[dividend]]s are accounted for. The price return version does not account for dividends; it only captures the changes in the prices of the index components. The [[Total return index|total return]] version reflects the effects of dividend reinvestment. Finally, the net total return version reflects the effects of dividend reinvestment after the deduction of [[withholding tax]].

== Annual returns ==
{| class="wikitable sortable" style="text-align:center"
|-
! Year !! Price return !! Total return !! Net total return
|-
| 2024 || 12.20% || 13.93% || 13.41%
|-
| 2023 || 14.45% || 16.44% || 15.84%
|-
| 2022 ||style="color:red"| &minus;14.48% || &minus;13.06% || &minus;13.49%
|-
| 2021 || 23.21% || 24.76% || 24.29%
|-
| 2020 || 11.81% || 13.66% || 13.10%
|-
| 2019 || 24.05% || 26.20% || 25.55%
|-
| 2018 ||style="color:red"| &minus;12.50% || &minus;11.08% || &minus;11.51%
|-
| 2017 || 14.45% || 16.24% || 15.70%
|-
| 2016 || 18.73% || 20.74% || 20.13%
|-
| 2015 ||style="color:red"| &minus;3.71% || &minus;2.18% || &minus;2.64%
|-
| 2014 || 8.19% || 9.77% || 9.29%
|-
| 2013 || 31.57% || 33.50% || 32.92%
|-
| 2012 || 16.07% || 17.88% || 17.33%
|-
| 2011 ||style="color:red"| &minus;3.10% || &minus;1.73% || &minus;2.14%
|-
| 2010 || 24.85% || 26.64% || 26.10%
|-
| 2009 || 35.00% || 37.38% || 36.66%
|-
| 2008 ||style="color:red"| &minus;37.28% || &minus;36.23% || &minus;36.55%
|-
| 2007 || 6.69% || 7.98% || N/A
|-
| 2006 || 8.99% || 10.32% || N/A
|-
| 2005 || 11.27% || 12.56% || N/A
|-
| 2004 || 15.16% || 16.48% || N/A
|-
| colspan="4" style="text-align: center;" class="unsortable" | '''Sources:'''<ref>[http://us.spindices.com/idsenhancedfactsheet/file.pdf?calcFrequency=M&force_download=true&indexId=410 S&P MidCap 400 Factsheet]</ref><ref>[https://us.spindices.com/indices/equity/sp-400 ''S&P MidCap 400® | S&P Dow Jones Indices'']</ref>
|}

==See also==

*[[S&P 1500]]
* [[S&P 500]]
* [[S&P 600]]
* [[Russell Midcap Index]]

==References==
{{reflist}}

{{S&P 400 companies}}
{{DEFAULTSORT:SandP 400}}
[[Category:S&P Dow Jones Indices|0400]]
[[Category:American stock market indices]]