| Index | Code | What it measures |
|---|---|---|
| All Share | ALSI, J203 | Substantially all eligible listed companies by market capitalisation |
| Top 40 | J200 | The forty largest by market capitalisation |
| SWIX All Share | J403 | Weighted by shares held on the South African register |
| Top 40 SWIX | J400 | The Top 40 on the same SWIX weighting |
| Capped SWIX | J433 | SWIX with a cap on any single constituent |
| Mid Cap | J201 | The next tier below the Top 40 |
| Small Cap | J202 | Below the Mid Cap |
| Item | Detail |
|---|---|
| Concentration | The Top 40 makes up the large majority of All Share value |
| Resources | A heavy weight, so commodity prices move the index |
| Dual listings | Companies listed here and abroad distort a plain market cap weighting |
| SWIX correction | Counts only shares on the South African register |
| Capping | Limits how far one company can dominate |
| Fund type | Usual benchmark | Why |
|---|---|---|
| Broad local equity tracker | Capped SWIX All Share | Limits single-name concentration |
| Top 40 tracker | Top 40 SWIX | Reflects locally held shares |
| Actively managed local fund | Capped SWIX All Share | The common performance benchmark |
| Property fund | SA Listed Property | A separate sector index |
| Retirement fund reporting | Capped SWIX | Concentration limits apply |
Data maintained by TradeAnswers · updated as the figures change