FTSE Russell, the global index provider, today confirms the schedule for the 37th annual Reconstitution of the Russell US Indexes, set to occur at the end of June 2025.
This rebalancing process is designed to capture market shifts from the previous year to ensure the Russell US Indexes continue to accurately reflect the US equity market.
The 2025 Russell Reconstitution schedule is as follows:
- Wednesday 30th April – “Rank Day” – Index membership eligibility for 2025 Russell Reconstitution determined from constituent market capitalization at market close.
- Friday 23rd May – Preliminary index additions & deletions membership lists posted to the website after 6 PM US eastern time.
- Friday 30th May, 6th June, 13th June and 20th June – Preliminary membership lists (reflecting any updates) posted to the website after 6 PM US eastern time.
- Monday 9th June – “Lock-down” period begins with the updates to reconstitution membership considered to be final.
- Friday 27th June – Russell Reconstitution is final after the close of the US equity markets.
- Monday 30th June – Equity markets open with the newly reconstituted Russell US Indexes.
Catherine Yoshimoto, Director, Product Management at FTSE Russell, said:
“Due to the ever-evolving nature of the US equity market, it’s crucial to fully recalibrate the suite of Russell US Indexes, ensuring the indexes maintain an accurate representation of the market, including changes in company size and style shifts since the last rebalancing. This process culminates in one of the highest trading volume days of the year, with investors benefiting from a seamless and reliable experience that’s facilitated by our transparent, rules-based methodology and timely communication of preliminary index membership changes.”
On 21st February 2025, FTSE Russell announced the 1Q2025 preliminary list of IPO additions, which will take effect at the market open of 24th March. As of 1Q2025, there is one preliminary addition to the Russell 1000 Index and seven additions to the small cap Russell 2000 Index. There will also be six IPOs added to the Russell Microcap Index.
The reconstitution and quarterly IPO additions provide an important foundation for FTSE Russell’s widely used Russell US Indexes. These governance processes are designed to ensure the indexes remain a current and relevant measure of US equity market performance.
Although currently rebalanced on an annual basis, FTSE Russell announced in January that the reconstitution of the Russell US Indexes will be held semi-annually in June and November beginning in 2026. This decision is based on data analysis and follows a market consultation undertaken in response to the recent evolution of market dynamics. More on the Russell US Indexes moving to a semi-annual reconstitution next year can be found on the FTSE Russell website here.
In addition, in response to market concentration and in consideration of US RIC diversification limits, beginning with the March 2025 quarterly index review, Russell US Style Indexes will apply a capping methodology on a quarterly basis. FTSE Russell will also continue to calculate the Russell US Style Benchmark indexes, which will continue to reflect uncapped weights.
Visit here for more information on the FTSE Russell global family of equity indexes. More information and background on the rebalancing process can be found on the Russell Reconstitution resource hub.
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