The S&P/ASX 200 (XJO) is constituted of the largest listed stocks of Australian companies by market capitalization.  The index acts as the key benchmark for the Australian share market allowing us to track Australian equity performance.

What is the S&P ASX?

The index is created and maintained by the company standard & Poor’s (S&P) in combination with the Australian Securities Exchange (ASX). ETFs and Listed Investments Companies (LICs) are excluded form the benchmark. The benchmark is rebalanced quarterly in March, June, September, and December. Or sooner if significant events such as delistingings, mergers or large IPOs occur. 

The index was created on 31st March 2000, with an initial value of 3133.3. The ASX200 accounts for around 88% of the total share market capitalisation (as of April 2021).

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There are three Exchange Traded Funds (ETFs) that track the ASX200 index. ETFs are investments funds that track the benchmark by bundling together all the stocks of the index into one easy to trade product. The goal of these ETFs is to allow investors to replicate the performance of the index (less fees, taxes, and expenses). A200 tracks the 200 largest companies but not necessarily the index. Another honourable mention is Vanguard Australian Shares Index (VAS) which tracks the S&P/ASX 300. All of these options are decent, our favourites are VAS, A200, and IOZ. These ETFs are low cost and achieve much the same product. The low-cost price of VAS has caused the competitors to reduce prices, in 2018 A200 was created which is by far the lowest cost option which caused the other ETFs to further reduce costs.

iShares Core S&P/ASX 200 (IOZ)

Manager: Blackrock

Inception: 2010

Fees:0.09%

Betashares FTSE RAFI Aust 200 (QOZ)

Manager: Betashares

Inception: 2013

Fees:0.40%           

SPDR S&P/ASX200 Fund (STW)

Manager: State STret Global Advisors

Inception: 2001

Fees: 0.13%

BetaShares (A200) *

Manager: Betashares

Inception: 2018

Fees: 0.07%

Prophet Invest Trusted Affiliate Partner

Vanguard Australian Shares Index (VAS) *

Manager: Vanguard

Inception:2009

Fees:0.10%

Industry Classification Breakdown

The ASX 200 can be broken down according to the Global Industry Classification Standard (GICS) into specific categories. From this we can see the index is largely comprised of financials (30.3%) and materials (18.3%).

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Fundamentals

The current price of the XJO is 7060.7, in April 2021 the index has been approaching all-time highs following the previous highs of pre-COVID 2020 and higher than pre-GFC in 2007. The ASX all ordinaries, which accounts for all stocks rather than the top 200 has already reached all-time highs.

Trading Symbols: XJO, AXJO, INDEXASX:XJO

Related Indices:

  • S&P/ASX20 XTL
  • S&P/ASX50 XFL
  • S&P/ASX100 XTO
  • S&P/ASX 200 VIX XVI
  • S&P/ASX300 XKO
  • All Ordinaries XAO
  • S&P/ASX Small ordinaries XSO
  • S&P/ASX A-REIT (sector) XPJ

Dividend Yield: 2.80%

PE Ratio: 55.40

Historical Return: 3.72%pa excluding dividends, 7.97%pa including dividends.

Note the ASX 200 index does not include dividends and thus isn’t representative of actual investor returns, instead the S&P/ASX200 Accumulation Index (XJOA) or the S&PASX Gross Total Return Index (XJT) is used as a performance benchmark for portfolio returns as they include total returns. Another index of interest is the S&PASX 200 Net Total Return Index (XNT) includes all cash dividends reinvested after the deduction of a 30% withholding tax.

This is a chart of the S&PASX 200 Net Total Return Index (XNT), which is more representative of investor returns.

Above I mentioned that the PE of the ASX 200 is 55.40. This seems extremely overpriced and has been influenced by COVID-19 which dramatically impacted earnings across these companies. Since then, the share price has recovered. However, companies are still yet to report normal earnings. Generally, the PE of the ASX 200 ranges around 15-20 times. Here is the PE ratio vs Price for all ordinaries which is very similar to ASX 200.

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List of ASX 200 Companies (April 2021)

CodeCompanySectorMarket Cap
CSLCSL LtdHealth Care129,254,000,000
CBACommonwealth Bank of AustraliaFinancials113,118,000,000
BHPBHP Group LtdMaterials105,196,000,000
WBCWestpac Banking CorporationFinancials62,698,800,000
NABNational Australia Bank LtdFinancials57,372,200,000
ANZAustralia and New Zealand Banking Group LtdFinancials51,193,000,000
WESWesfarmers LtdConsumer Discretionary46,101,900,000
FMGFortescue Metals Group LtdMaterials45,537,900,000
WOWWoolworths Group LtdConsumer Staples44,561,800,000
TCLTransurban GroupIndustrials39,358,100,000
MQGMacquarie Group LtdFinancials39,155,600,000
TLSTelstra Corporation LtdTelecommunication Services38,296,400,000
RIORIO Tinto LtdMaterials36,093,400,000
GMGGoodman GroupReal Estate28,139,300,000
NCMNewcrest Mining LtdMaterials25,395,500,000
WPLWoodside Petroleum LtdEnergy21,883,400,000
COLColes Group LtdConsumer Staples20,649,200,000
BXBBrambles LtdIndustrials17,635,900,000
ASXASX LtdFinancials17,015,100,000
ALLAristocrat Leisure LtdConsumer Discretionary16,908,600,000
RHCRamsay Health Care LtdHealth Care15,941,600,000
FPHFisher & Paykel Healthcare Corporation LtdHealth Care15,882,800,000
AMCAmcor PlcMaterials14,532,200,000
IAGInsurance Australia Group LtdFinancials13,935,600,000
APAAPA GroupUtilities13,592,400,000
REAREA Group LtdCommunication Services13,540,300,000
SHLSonic Healthcare LtdHealth Care13,390,600,000
SYDSydney AirportIndustrials13,333,000,000
QBEQBE Insurance Group LtdFinancials12,840,900,000
A2MThe a2 Milk Company LtdConsumer Staples12,806,500,000
APTAfterpay LtdInformation Technology12,767,000,000
COHCochlear LtdHealth Care12,744,000,000
XROXero LtdInformation Technology12,294,400,000
JHXJames Hardie Industries PlcMaterials11,690,200,000
SUNSuncorp Group LtdFinancials11,588,100,000
STOSantos LtdEnergy11,456,900,000
SCGScentre GroupReal Estate11,366,900,000
NSTNorthern Star Resources LtdMaterials11,226,500,000
EVNEvolution Mining LtdMaterials10,737,800,000
ORGOrigin Energy LtdEnergy10,708,200,000
MFGMagellan Financial Group LtdFinancials10,668,900,000
AGLAGL Energy LtdUtilities10,537,700,000
DXSDexusReal Estate10,017,200,000
S32SOUTH32 LtdMaterials9,450,220,000
AZJAurizon Holdings LtdIndustrials9,180,470,000
MGRMirvac GroupReal Estate9,048,070,000
LLCLendlease GroupReal Estate8,688,540,000
RMDResmed IncHealth Care8,585,750,000
SGPStocklandReal Estate8,416,760,000
CIMCimic Group LtdIndustrials8,169,790,000
GPTGPT GroupReal Estate7,791,720,000
MPLMedibank Private LtdFinancials7,766,290,000
TPMTPG Telecom LtdTelecommunication Services7,663,720,000
SPKSpark New Zealand Ltd 7,458,400,000
OSHOil Search LtdEnergy7,376,370,000
CPUComputershare LtdInformation Technology7,177,470,000
SEKSeek LtdCommunication Services7,129,440,000
ORIOrica LtdMaterials7,041,830,000
TWETreasury Wine Estates LtdConsumer Staples7,035,010,000
TAHTabcorp Holdings LtdConsumer Discretionary6,605,010,000
CWNCrown Resorts LtdConsumer Discretionary6,541,350,000
ASTAusnet Services LtdUtilities6,521,970,000
WTCWisetech Global LtdInformation Technology6,520,550,000
CTXCaltex Australia LtdEnergy6,322,580,000
CCLCoca-Cola Amatil LtdConsumer Staples6,298,800,000
VCXVicinity CentresReal Estate5,987,320,000
QANQantas Airways LtdIndustrials5,978,080,000
ALXAtlas ArteriaIndustrials5,802,580,000
SARSaracen Mineral Holdings LtdMaterials5,768,120,000
AMPAMP LtdFinancials5,756,300,000
BSLBluescope Steel LtdMaterials5,639,540,000
SVWSeven Group Holdings LtdIndustrials5,633,340,000
DMPDomino’s PIZZA Enterprises LtdConsumer Discretionary5,357,120,000
QUBQUBE Holdings LtdIndustrials5,160,840,000
ALUAltium LtdInformation Technology4,886,330,000
IELIdp Education LtdConsumer Discretionary4,776,250,000
SOLWashington H Soul Pattinson & Company LtdEnergy4,637,090,000
ANNAnsell LtdHealth Care4,596,140,000
CHCCharter Hall GroupReal Estate4,541,330,000
WORWorley LtdEnergy4,475,320,000
AWCAlumina LtdMaterials4,362,960,000
JBHJB Hi-Fi LtdConsumer Discretionary4,360,970,000
HVNHarvey Norman Holdings LtdConsumer Discretionary4,186,580,000
NXTNEXTDC LtdInformation Technology4,090,870,000
CWYCleanaway Waste Management LtdIndustrials4,087,350,000
BLDBoral LtdMaterials4,069,170,000
CARCarsales.com LtdCommunication Services3,995,770,000
BPTBeach Energy LtdEnergy3,808,950,000
IPLIncitec Pivot LtdMaterials3,807,750,000
APXAppen LtdInformation Technology3,750,440,000
MINMineral Resources LtdMaterials3,656,310,000
ILUIluka Resources LtdMaterials3,606,230,000
SKISpark Infrastructure GroupUtilities3,598,390,000
ALQAls LtdIndustrials3,401,100,000
BENBendigo and Adelaide Bank LtdFinancials3,291,010,000
ORAOrora LtdMaterials3,233,920,000
VEAViva Energy Group LtdEnergy3,130,700,000
OZLOZ Minerals LtdMaterials3,121,930,000
CNUChorus Ltd 3,107,000,000
BRGBreville Group LtdConsumer Discretionary3,076,680,000
IGOIGO LtdMaterials3,060,330,000
PMEPro Medicus LtdHealth Care3,047,720,000
CGFChallenger LtdFinancials3,024,760,000
FBUFletcher Building LtdMaterials2,926,110,000
TNETechnology One LtdInformation Technology2,919,020,000
SDFSteadfast Group LtdFinancials2,883,110,000
SGRThe Star Entertainment Group LtdConsumer Discretionary2,788,660,000
RRLRegis Resources LtdMaterials2,779,750,000
MTSMetcash LtdConsumer Staples2,750,160,000
FLTFlight Centre Travel Group LtdConsumer Discretionary2,715,050,000
DOWDowner Edi LtdIndustrials2,670,210,000
PMVPremier Investments LtdConsumer Discretionary2,603,080,000
NECNine Entertainment Co. Holdings LtdCommunication Services2,558,090,000
GOZGrowthpoint Properties AustraliaReal Estate2,477,410,000
RWCReliance Worldwide Corporation LtdIndustrials2,417,690,000
SCPShopping Centres Australasia Property GroupReal Estate2,410,690,000
BOQBank of Queensland LtdFinancials2,380,720,000
BWPBWP TrustReal Estate2,370,400,000
BKWBrickworks LtdMaterials2,343,520,000
SBMST Barbara LtdMaterials2,285,060,000
PTMPlatinum Asset Management LtdFinancials2,211,780,000
NANNanosonics LtdHealth Care2,164,350,000
LNKLink Administration Holdings LtdInformation Technology2,163,740,000
CMWCromwell Property GroupReal Estate2,129,490,000
NUFNufarm LtdMaterials2,122,490,000
NHFNib Holdings LtdFinancials2,096,800,000
CLWCharter Hall Long Wale REITReal Estate2,078,720,000
CSRCSR LtdMaterials2,043,460,000
PDLPendal Group LtdFinancials2,014,290,000
BAPBapcor LtdConsumer Discretionary1,999,140,000
SLRSilver Lake Resources LtdMaterials1,988,450,000
IREIress LtdInformation Technology1,978,000,000
NWLNetwealth Group LtdFinancials1,946,720,000
ABCAdbri LtdMaterials1,930,710,000
VVRViva Energy REITReal Estate1,905,300,000
VOCVocus Group Ltd 1,867,920,000
CQRCharter Hall Retail REITReal Estate1,844,150,000
WHCWhitehaven Coal LtdEnergy1,816,100,000
NSRNational Storage REITReal Estate1,808,630,000
PNVPolynovo LtdHealth Care1,778,330,000
DHGDomain Holdings Australia LtdCommunication Services1,764,480,000
IFLIOOF Holdings LtdFinancials1,688,680,000
SULSuper Retail Group LtdConsumer Discretionary1,687,030,000
ABPAbacus Property GroupReal Estate1,679,500,000
APEAP Eagers LtdConsumer Discretionary1,677,770,000
BINBingo Industries LtdIndustrials1,654,140,000
GORGold Road Resources LtdMaterials1,636,270,000
IVCInvocare LtdConsumer Discretionary1,634,850,000
IPHIPH LtdIndustrials1,629,410,000
VUKVirgin Money Uk PlcFinancials1,624,130,000
SKCSkycity Entertainment Group LtdConsumer Discretionary1,607,940,000
SGMSims LtdMaterials1,572,670,000
HLSHealius LtdHealth Care1,538,170,000
ELDElders LtdConsumer Staples1,534,940,000
LYCLynas Corporation LtdMaterials1,464,490,000
WEBWebjet LtdConsumer Discretionary1,457,710,000
PPTPerpetual LtdFinancials1,449,620,000
BKLBlackmores LtdConsumer Staples1,444,250,000
ARBARB Corporation LtdConsumer Discretionary1,378,670,000
INAIngenia Communities GroupReal Estate1,368,240,000
EMLEML Payments LtdInformation Technology1,338,090,000
CTDCorporate Travel Management LtdConsumer Discretionary1,320,000,000
ASBAustal LtdIndustrials1,301,370,000
RSGResolute Mining LtdMaterials1,295,820,000
UMGUnited Malt Group LtdConsumer Staples1,295,510,000
CGCCosta Group Holdings LtdConsumer Staples1,282,660,000
JHGJanus Henderson Group PlcFinancials1,234,170,000
INGInghams Group LtdConsumer Staples1,233,980,000
BVSBravura Solutions LtdInformation Technology1,194,840,000
CUVClinuvel Pharmaceuticals LtdHealth Care1,148,790,000
BGABega Cheese LtdConsumer Staples1,140,810,000
NHCNew Hope Corporation LtdEnergy1,139,440,000
MNDMonadelphous Group LtdIndustrials1,123,480,000
CCPCredit Corp Group LtdFinancials1,065,190,000
AVHAvita Medical LtdHealth Care1,045,380,000
URWUnibail-Rodamco-WestfieldReal Estate1,012,960,000
GNCGraincorp LtdConsumer Staples1,009,250,000
NEANearmap LtdInformation Technology991,448,000
CKFCollins Foods LtdConsumer Discretionary927,987,000
GUDG.U.D. Holdings LtdConsumer Discretionary922,500,000
NWSNews CorporationCommunication Services885,415,000
SIQSmartgroup Corporation LtdIndustrials876,779,000
PRNPerenti Global LtdMaterials866,264,000
GEMG8 Education LtdConsumer Discretionary861,797,000
NWHNRW Holdings LtdIndustrials829,903,000
SSMService Stream LtdIndustrials824,213,000
GWAGWA Group LtdIndustrials818,238,000
TGRTassal Group LtdConsumer Staples817,654,000
SFRSandfire Resources LtdMaterials811,044,000
PNIPinnacle Investment Management Group LtdFinancials781,508,000
JINJumbo Interactive LtdConsumer Discretionary740,970,000
MYXMayne Pharma Group LtdHealth Care713,604,000
MMSMcmillan Shakespeare LtdIndustrials684,049,000
COECooper Energy LtdEnergy683,192,000
OREOrocobre LtdMaterials681,647,000
HUBHUB24 LtdFinancials651,086,000
OMLOoh!Media LtdCommunication Services645,049,000
WSAWestern Areas LtdMaterials635,699,000
SXLSouthern Cross Media Group LtdCommunication Services594,474,000
PLSPilbara Minerals LtdMaterials589,282,000
EHEEstia Health LtdHealth Care390,602,000
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Introducing our latest and one of our largest portfolio holdings Askari Metals (AS2). 

The Company has 5 prospective copper-gold projects in tier 1 mining jurisdictions in nearology to mining giants.

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