S&P 600

{{short description|Stock market index}}

{{for|a list of S&P 600 companies|List of S&P 600 companies}}

{{Infobox Index

| name = S&P 600

| foundation = {{Start date and age|1994|12|30}}

| operator = S&P Dow Jones Indices{{cite web |title=S&P SmallCap 600® |url=https://www.spglobal.com/spdji/en/indices/equity/sp-600/ |website=S&P Dow Jones Indices |access-date=2025-02-14}}

| exchanges = NYSE, Nasdaq, Cboe{{cite web |author= |date=February 2025 |title=S&P U.S. Indices Methodology |url=https://www.spglobal.com/spdji/en/documents/methodologies/methodology-sp-us-indices.pdf |website=S&P Dow Jones Indices |access-date=2025-02-14}}

| symbol = {{ubl|SML|^SML|SP600|^SP600}}

| constituents = 602

| cap_level = Small-cap

| mcap = {{US$|1.5|link=yes}} trillion
(as of January 31, 2025)

| weighting = Free-float capitalization-weighted

| related = {{ubl|S&P 1000|S&P 1500}}

| homepage = {{URL|https://www.spglobal.com/spdji/en/indices/equity/sp-600/}}

}}

The S&P SmallCap 600 Index (S&P 600) is a stock market index established by S&P Global Ratings. It covers roughly the small-cap range of American stocks, using a capitalization-weighted index.

To be included in the index, a stock must have a total market capitalization that ranges from $1 billion to $7.4 billion.{{cite web |url = https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20250102-1476019/1476019_2025janmktcapguidelines.pdf |title= S&P Dow Jones Indices Announces Update to S&P Composite 1500 Market Cap Guidelines |date = January 2, 2025 |website=S&P Global |access-date = January 7, 2025}} These market cap eligibility criteria are for addition to an index, not for continued membership. As a result, an index constituent that appears to violate criteria for addition to that index is not removed unless ongoing conditions warrant an index change.

Additionally, same as S&P 500 and S&P 400, there is a financial viability requirement. Companies must have positive as-reported earnings over the most recent quarter, as well as over the most recent four quarters (summed together).

{{as of|2024|12|31}}, the index's median market cap was $2.06 billion and covered roughly three percent of the total US stock market. These smallcap stocks cover a narrower range of capitalization than the companies covered by the Russell 2000 Smallcap index which range from $169 million to $4 billion,{{cite web|url=http://www.russell.com/indexes/americas/tools-resources/reconstitution/market-capitalization-ranges.page|title=Market capitalization ranges |website=Russell Investments |url-status=dead |archive-url=https://web.archive.org/web/20141220005148/http://www.russell.com/indexes/americas/tools-resources/reconstitution/market-capitalization-ranges.page |archive-date=Dec 20, 2014 }} excluding some of the smallest companies. The S&P 400 MidCap index combined with the SmallCap 600 compose the S&P 1000, and the S&P 1000 plus the S&P 500 compose the S&P 1500. The index was launched on October 28, 1994{{cite web

| title = S&P SmallCap 600

| publisher = Standard and Poors

| url = http://www.standardandpoors.com/indices/sp-smallcap-600/en/us/?indexId=spusa-600-usduf--p-us-s--

|url-status=dead

|archive-url=https://web.archive.org/web/20120908104325/http://www.standardandpoors.com/indices/sp-smallcap-600/en/us/?indexId=spusa-600-usduf--p-us-s--

|archive-date=Sep 8, 2012

| access-date = 2012-08-15}}

and its ticker symbols are either SML, ^SML, SP600 or ^SP600 depending on the financial website.