Stoxx Ltd., the Europe-based indexing firm, this week launched a new “pure-play” index of companies involved in 3D printing—its second benchmark focused on the new technology in three months. The launches reflect the Zurich-based firm’s aim to be an influential player as 3D printing moves out of laboratories and into real products.
3D printing, not unlike current 2D printers that spray ink onto sheets of paper, involves “printing” three-dimensional objects, such as car parts, using a host of materials. Some researchers are even working on enormous 3D printers that could “print” entire homes in a matter of days—a staggering prospect that would turn numerous industries on their heads and usher in a world of countless new possibilities.
The new Stoxx Global 3D Printing Pure Play Index, like the Stoxx Global 3D Printing Tradable Index it launched in April, will have 30 constituents. But the newer benchmark is designed to isolate smaller firms for whom 3D printing constitutes a bigger piece of their overall businesses, Stoxx said in a press release.
However, only nine firms qualify for inclusion in the new index, a reflection of just how new this technology is and how Stoxx is getting on the 3D printing wave well before it begins to crest. Similarly, just 10 firms qualify for the “tradable” index Stoxx launched in April.
To be included in the Stoxx Global 3D Printing Pure Play Index, companies
- Derive more than 10 percent of their revenues from the 3D printing sector
- Have a minimum three-month average daily trading volume of 25,000 euros
- A minimum free-float market capitalization of 10 million euros
The Stoxx Global 3D Printing Pure Play Index is weighted by free-float market capitalization, and component weighting is capped at 20 percent.
By comparison, companies in the Stoxx Global 3D Printing Tradable Index launched in April must:
- Derive 1 percent of revenues from 3D printing
- Have a minimum three-month average daily trading volume of 250,000 euros
- A minimum free-float market capitalization of 80 million euros
The Stoxx Global 3D Printing Tradable Index is equal-weighted and focused on developed-world countries.
The universe for both indexes is all the stocks in the Stoxx Global Total Market Index, which currently covers 65 countries and more than 7,000 securities.
Also, both indexes are available in price, net- and gross-return versions, and are calculated in euros and dollars.
Additionally, both are reviewed annually in September and rebalanced quarterly. Daily history is available back to Sept. 17, 2010.