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ABA NASDAQ Indices Methodology & Definitions

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Index Composition & Methodology

The ABA NASDAQ Community Bank Index (ABAQ) includes all NASDAQ listed banks and thrifts or their holding companies that are designated as banks by the Industry Classification Benchmark (or that which the American Bankers Association determines should be classified as such), excluding the following:

  • Any of the 50 largest banks or thrifts based on asset size (and their holding companies), as determined by the most recently available call report data as compiled by the FDIC.

  • Any banks or thrifts classified as having an "international specialization," as determined by the most recently available call report data as compiled by the FDIC, provided that such institutions constitute the majority of assets if in a holding company.

  • Any banks or thrifts classified as having a "Credit-card Specialization," as determined by the most recently available call report data as compiled by the FDIC, provided that such institutions constitute the majority of assets if in a holding company.

The Index is weighted by market capitalization and split/spin-off adjusted. This index is calculated on both an intraday price return and total return basis.

The Nasdaq OMX ABA Community Bank Index (ABQI) tracks the most actively traded components of the ABAQ Index. To be included in the ABQI Index, institutions must meet two qualifications in addition to all of the criteria listed above:

  • A security must have a market capitalization of at least $200 million and a three-month average daily dollar trading volume of at least $500 thousand.

  • The security must meet certain operating history, solvency and financial statement requirements to remain eligible for inclusion in the ABQI Index.

The ABQI Index is rebalanced quarterly and reconstituted semi-annually.

Index Calculations

Initial Values

  • The initial value of the ABAQ Index was set at 250 based on December 2, 2003 closing prices, and includes all banks and thrifts or their holding companies that were listed on September 30, 2003 and met Index criteria on December 2, 2003.

  • The initial value of the ABQI index was set at 1000 based on July 7, 2009 closing prices.

  • The initial value of the QABA Fund was set at $20.00 per share on July 1, 2009.

  • Eligible banks and thrifts or their holding companies are added to the index semiannually on June 1 and December 1, and will be determined based on companies listed at the end of the preceding month that meet Index criteria.

 

Questions? Please contact Helen Sullivan.