KBW Announces Index Rebalancing for Fourth Quarter 2022

Keefe, Bruyette & Woods, Inc. (KBW)
Keefe, Bruyette & Woods, Inc. (KBW)

NEW YORK, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF), announces the upcoming index rebalancing for the fourth quarter of 2022.

This quarter, there are constituent changes within two of our indexes: the KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD) and the KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY).

There are a number of changes to the two modified-dividend-yield-weighted indexes—KDX and KYX—to adjust annually for relevant dividend yields and ensure the integrity of these indexes. Both KDX and KYX are specifically constructed to include those eligible companies with competitive dividend yields.

These changes will be effective prior to the opening of business on Monday, December 19, 2022.

As part of this rebalancing, below are the component-level changes across impacted indices:
KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX; ETF Ticker: KBWD)

Add (18):

Ally Financial Inc. (NYSE: ALLY)
Argo Group International Holdings, Ltd. (NYSE: ARGO)
Capital Southwest Corporation (NASDAQ: CSWC)
Central Pacific Financial Corp. (NYSE: CPF)
Chimera Investment Corporation (NYSE: CIM)
CION Investment Corp. (NYSE: CION)
GCM Grosvenor, Inc. (NASDAQ: GCMG)
Jackson Financial Inc. (NYSE: JXN)
Janus Henderson Group PLC (NYSE: JHG)
Lincoln National Corporation (NYSE: LNC)
MFA Financial, Inc. (NYSE: MFA)
Orchid Island Capital, Inc. (NYSE: ORC)
PennantPark Investment Corporation (NYSE: PNNT)
SLR Investment Corp. (NASDAQ: SLRC)
TPG RE Finance Trust, Inc. (NYSE: TRTX)
Trinity Capital, Inc. (NASDAQ: TRIN)
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG)
The Western Union Company (NYSE: WU)

Delete (17):

Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI)
BlackRock TCP Capital Corp. (NASDAQ: TCPC)
Broadmark Realty Capital Inc. (NYSE: BRMK)
Carlyle Secured Lending, Inc. (NASDAQ: CGBD)
Heritage Commerce Corp (NASDAQ: HTBK)
James River Group Holdings, Ltd. (NASDAQ: JRVR)
Mercury General Corporation (NYSE: MCY)
New Mountain Finance Corporation (NASDAQ: NMFC)
Oaktree Specialty Lending Corporation (NASDAQ: OCSL)
Owl Rock Capital Corporation (NYSE: ORCC)
Provident Financial Services, Inc. (NYSE: PFS)
Prudential Financial, Inc. (NYSE: PRU)
Rithm Capital Corp. (NYSE: RITM)
Triton International Limited (NYSE: TRTN)
Universal Insurance Holdings, Inc. (NYSE: UVE)
Unum Group (NYSE: UNM)
WhiteHorse Finance, Inc. (NASDAQ: WHF)

KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX; ETF Ticker: KBWY)

Add (11):

Apartment Income REIT Corp. (NYSE: AIRC)
Apple Hospitality REIT, Inc (NYSE: APLE)
Broadstone Net Lease, Inc. (NYSE: BNL)
Global Medical REIT Inc. (NYSE: GMRE)
Hudson Pacific Properties, Inc. (NYSE: HPP)
Innovative Industrial Properties, Inc. (NYSE: IIPR)
National Storage Affiliates Trust (NYSE: NSA)
Service Properties Trust (NASDAQ: SVC)
Uniti Group Inc. (NASDAQ: UNIT)
Vornado Realty Trust (NYSE: VNO)

Delete (8):

CareTrust REIT, Inc. (NYSE: CTRE)
Easterly Government Properties, Inc. (NYSE: DEA)
Industrial Logistics Properties Trust (NASDAQ: ILPT)
LTC Properties, Inc. (NYSE: LTC)
National Retail Properties, Inc. (NYSE: NNN)
Plymouth Industrial REIT, Inc. (NYSE: PLYM)
STORE Capital Corporation (NYSE: STOR)
Urstadt Biddle Properties Inc. (NYSE: UBA)

Several of the KBW Nasdaq indexes have tradable exchange‐traded funds licensed: KBW Nasdaq Bank Index (Index Ticker: BKXSM, ETF Ticker: KBWBSM); KBW Nasdaq Capital Markets Index (Index Ticker: KSXSM); KBW Nasdaq Insurance Index (Index Ticker: KIXSM); KBW Nasdaq Regional Banking Index (Index Ticker: KRXSM, ETF Ticker: KBWRSM); KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDXSM, ETF Ticker: KBWDSM); KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYXSM, ETF Ticker: KBWYSM); KBW Nasdaq Property and Casualty Insurance Index (Index Ticker: KPXSM, ETF Ticker: KBWPSM); KBW Nasdaq Global Bank Index (Index Ticker: GBKXSM); KBW Nasdaq Financial Technology Index (Index Ticker: KFTXSM, ETF Ticker: FTEK.LNSM).

Not all of the listed securities may be suitable for retail investors; in addition, not all of the listed securities may be available to U.S. investors. European investors interested in FTEK LN can contact Invesco at https://etf.invesco.com/gb/private/en/product/invesco-kbw-nasdaq-fintech-ucits-etf-acc/trading-information. U.S. investors cannot buy or hold FTEK LN. An investor cannot invest directly in an index.

About KBW
KBW (Keefe, Bruyette & Woods, Inc., operating in the U.S., and Stifel Nicolaus Europe Limited, also trading as Keefe, Bruyette & Woods Europe, operating in Europe) is a Stifel company. Over the years, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking and specialty finance sectors. Founded in 1962, the firm maintains industry‐leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities securities of financial services companies.

Media Contact
Neil Shapiro, (212) 271-3447