Russell 2000 inclusion and deletion projection
Rules-based projectionWhere FTSE Russell's rank on total market capitalization puts each eligible company today, with the published banding rule applied at the breakpoints. Membership of the Russell 2000 is decided by that rank alone, with no committee step.
Candidate lists are available on Plus and above
Unlock the companies screened or projected to join and leave this index, their list positions, ranking values, and the rule evidence behind each signal.
Current index constituents remain public for everyone.
Upgrade to Plus1943 current members could not be measured
1943 of the companies this index holds today could not be measured, because a rule needed a figure we could not read for them. They are in none of the lists above: a figure we cannot read is not evidence that a company is leaving an index. The ranking was built without them, so a company is only shown as joining when its rank would stay inside the index even if every one of them outranked it.
Possible buying and selling direction
If the next scheduled review used today's inputs, an addition could require index-tracking funds to buy and a departure could require them to sell. A move between sibling indexes can create buying in one fund and selling in another.
What this cannot tell you
- Public float requires a filed dollar value and matching dated shares. Changes in share count, splits or incomplete evidence leave float-dependent rules unevaluated.
- Total market capitalization applies the primary listing's price to every share class, because we hold one settled price per company rather than one per class.
- The voting-rights rule is published and we hold no share-class voting data, so it is disclosed on every card and applied to nobody.
- The ranked universe is the companies we track. A company listed in the US that does not file with the SEC is not in it, and so cannot appear here at all.
- The liquidity bar is the global median average daily traded value FTSE Russell last published, not one we recompute; the rule text says which rank day it came from.
- A company the index holds today that we could not measure is missing from the ranking, so its place is handed to whoever is next. A company is shown as joining only when its rank would stay inside the index even if every one of those companies outranked it.
Frequently asked questions
Can you predict Russell 2000 additions and deletions?
The Russell 2000 is rebuilt by a published ranking with no committee step, so a projection reproduces the published rule rather than guessing at an outcome. It is only as good as the figures behind it, and this page names every company it could not measure instead of leaving them out.
How does this Russell 2000 projection work?
The Russell 2000 is rebuilt from a published ranking with no committee step, so this page reproduces that rule rather than guessing at an outcome. Every company we track is tested against the index's eligibility rules one at a time, the ones that clear them are ranked exactly as the methodology ranks them, and the ranking says who would be inside the index and who outside it on today's figures.
What does "not evaluated" mean on this page?
It means at least one rule needed a figure that could not be read for that company, so the company was neither passed nor failed. Those companies are listed in their own bucket rather than hidden, because a screen that silently skips what it cannot measure reads as a complete answer when it is not.
When does the Russell 2000 rebalance?
Reconstitution is semi-annual: the ranking is taken on the last business day of April and applied on the fourth Friday in June, and taken again on the last business day of October and applied on the second Friday in December. Newly listed companies are added quarterly in between. The move to two reconstitutions a year is recent, so an annual June-only description of the Russell indexes is out of date.
What data is the Russell 2000 projection built from?
The figures come from primary sources: company market value and liquidity from settled closing prices and volumes, earnings and public float from the company's own SEC filings, and listing exchange and industry classification from the filings too. Every rule on every card shows the figure it was judged on and the bar it was judged against, so a verdict can be checked rather than trusted.
How often is this rescored, and is it revised later?
Scoring runs once per Eastern trading day, from settled closing prices and the filings on file that morning. Every model revision is immutable, so a new model may append a higher revision for that trading day without erasing what the earlier model said. Readers use the highest revision, while every published answer remains available for grading.
Understand what you are seeing
Start with the first explanation, then open any topic when you want the methodology, source, or limitation behind the numbers.
How this Russell 2000 projection works
The Russell 2000 is rebuilt from a published ranking with no committee step, so this page reproduces that rule rather than guessing at an outcome. Every company we track is tested against the index's eligibility rules one at a time, the ones that clear them are ranked exactly as the methodology ranks them, and the ranking says who would be inside the index and who outside it on today's figures.
The figures come from primary sources: company market value and liquidity from settled closing prices and volumes, earnings and public float from the company's own SEC filings, and listing exchange and industry classification from the filings too. Every rule on every card shows the figure it was judged on and the bar it was judged against, so a verdict can be checked rather than trusted.
What each rule outcome means
A rule reports one of four outcomes, and the difference between the last two is the whole point. Pass means the figure was read and it clears the bar. Fail means the figure was read and it does not. Not evaluated means a figure the rule needs could not be read, which is a fact about our data and not about the company, so no verdict is reached at all. Not applied means the rule exists in the methodology and we have no way to test it, so it is named on the page and left out of the verdict rather than quietly counted as passed.
How to read these lists
The first list is where today's ranking puts non-members inside the Russell 2000, and the second is where it puts current members outside it. A member leaving because it is being lifted into a larger index in the same family is shown separately from one dropping out, because those are opposite events.
A ranked index has a fixed number of places, so a company we could not measure still occupies one. A non-member is published as joining only when its rank would keep it inside the index even if every unmeasured member outranked it. That is why a company can clear every rule and still not appear on this page, and it is why these lists get longer as the underlying data improves rather than shorter.
When the Russell 2000 actually rebalances
Reconstitution is semi-annual: the ranking is taken on the last business day of April and applied on the fourth Friday in June, and taken again on the last business day of October and applied on the second Friday in December. Newly listed companies are added quarterly in between. The move to two reconstitutions a year is recent, so an annual June-only description of the Russell indexes is out of date.
Scoring runs once per Eastern trading day, from settled closing prices and the filings on file that morning. Every model revision is immutable, so a new model may append a higher revision for that trading day without erasing what the earlier model said. Readers use the highest revision, while every published answer remains available for grading.
These lists are fund holdings, not official index data. Each list is a full-replication tracking fund's own equity holdings, as the fund disclosed them on the date shown, taken either from its SEC Form N-PORT filing or from the holdings file it publishes on its own site. A fund tracks its index closely but is not identical to it, and weights are the fund's, not the index provider's.
Equibles is not affiliated with, endorsed by or sponsored by S&P Dow Jones Indices, FTSE Russell or Nasdaq. Index names are used only to identify which list is being described and remain the trademarks of their respective owners.