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Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced the quarterly rebalance of the NYSE® FANG+™ Index, which is effective before the open of trading on Monday, December 20, 2021.
The NYSE FANG+™ Index is an equal-dollar weighted index with the objective of tracking the performance of highly traded growth stocks of technology and tech-enabled companies in the technology, media & communications and consumer discretionary sectors. It has historically included the key FAANG stocks — Facebook (Meta Platforms), Apple, Amazon, Netflix and Google (Alphabet) — as well as other related companies, including Alibaba, Baidu, NVIDIA, Tesla and Twitter.
Effective with the December 2021 quarterly rebalancing, the NYSE FANG+™ Index will include the stock of Microsoft Corp., which is a core component of the FAANMG group of tech and tech-related companies. Microsoft Corporation will replace Twitter, Inc., maintaining the index at 10 constituents.
“The addition of Microsoft stock into the NYSE FANG+™ Index is an important change that will ensure that the index continues to be a leading benchmark for measuring the performance of U.S. listed technology and tech-enabled companies,” said David Goone, Chief Strategy Officer at ICE.
The NYSE FANG+™ Index has consistently outperformed many other indices, producing an annualized total return of 32.96% from September 19, 2014 to November 30, 2021*.
The index serves as the basis for the MICRO NYSE FANG+™ Index Futures, which provides market participants with exposure to these 10 highly traded technology and tech-related companies. ICE reduced the notional value of the NYSE FANG+™ Index futures contract in September 2020 by one tenth to a notional value of approximately $35,000 and has seen steady growth in market participation in the contract throughout the course of this year.
For more information about MICRO NYSE FANG+™ Index futures, visit https://www.theice.com/fangplus.
*Returns as of September 19, 2014 to November 30, 2021. The NYSE FANG+™ Index launched on September 26, 2017. Prior performance (September 19, 2014 to September 25, 2017) is based upon back tested index calculations.
