The Russell Fixed Income Index series provides investors with curated set of benchmarks with significantly different risk characteristics relative to other corporate bond indices and supports higher precision investment strategies, symmetrical multi-asset approaches and research functions.
This series is designed to track the US corporate bond market by focusing on the debt of the large, publicly traded companies (and the debt of their US-domiciled subsidiaries) that make up the Russell 3000® equity index. The Russell 3000 Fixed Income Index and the corresponding Russell 1000® Fixed Income and Russell 2000® Fixed Income sub-indices comprise the new Russell fixed income series.
The indices are market weighted benchmarks and enable higher precision investment strategies by focusing on domestic companies only. The Russell 3000 Fixed Income Index and corresponding sub-indices emphasize transparency of public reporting add a small crossover element that, when compared to traditional approaches, may deliver indices with shorter duration and enhanced yield compared to traditional benchmark solutions.
Following a modular approach to index construction, the Russell Fixed Income indices offer a sophisticated degree of granularity and include sub-indices by term, quality, Global Industry Code (GLIC) and Corporate Bond Sector (COBS), high-yield and investment grade groupings, as well as Industry Classification Benchmark (ICB) for Russell 3000 alignment.
Russell Fixed Income Series comprises the following:
- Russell 3000 Fixed Income Index comprises debt of public companies tracked by Russell 3000 and their US subsidiaries.
- Russell 1000 Fixed Income Index comprises debt of public companies tracked by Russell 1000 and is a sub-index of Russell 3000 Fixed Income Index.
- Russell 2000 Fixed Income Index comprises debt of public companies tracked by Russell 2000 and is a sub-index of Russell 3000 Fixed Income Index.
Russell 3000 Fixed Income Value and Growth Sub-indices
The Russell 3000 Fixed Income Value and Growth Sub-Indices are a multi-sector benchmark tracking investment-grade and high-yield USD corporate bonds issued by domestic, public companies that are also members of the Russell 3000 Index and domestic subsidiaries of such companies. The sub-indices are constructed by assigning the debt of eligible corporate issues to the value and growth segments consistent with the Russell US equity methodology.
Focused on providing a differentiated approach to tracking the US fixed income market, the Russell 3000 Fixed Income Value and the Russell 3000 Fixed Income Growth sub-indices offer tactical tilts away from market weighting strategies and in alignment with their equity counterparts. In particular:
- Russell 3000 Fixed Income Value and Growth sub-indices seamlessly translate equity styles into fixed income strategies
- The sub-indices offer an elegant way of expressing sector bets by allocating weights between growth and value sectors
- The sub-indices are available at Russell 2000 Fixed Income and Russell 1000 Fixed Income levels as well as at high-yield and investment grade segmentations
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