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).
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%
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%).
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.
List of ASX 200 Companies (April 2021)
Code | Company | Sector | Market Cap |
CSL | CSL Ltd | Health Care | 129,254,000,000 |
CBA | Commonwealth Bank of Australia | Financials | 113,118,000,000 |
BHP | BHP Group Ltd | Materials | 105,196,000,000 |
WBC | Westpac Banking Corporation | Financials | 62,698,800,000 |
NAB | National Australia Bank Ltd | Financials | 57,372,200,000 |
ANZ | Australia and New Zealand Banking Group Ltd | Financials | 51,193,000,000 |
WES | Wesfarmers Ltd | Consumer Discretionary | 46,101,900,000 |
FMG | Fortescue Metals Group Ltd | Materials | 45,537,900,000 |
WOW | Woolworths Group Ltd | Consumer Staples | 44,561,800,000 |
TCL | Transurban Group | Industrials | 39,358,100,000 |
MQG | Macquarie Group Ltd | Financials | 39,155,600,000 |
TLS | Telstra Corporation Ltd | Telecommunication Services | 38,296,400,000 |
RIO | RIO Tinto Ltd | Materials | 36,093,400,000 |
GMG | Goodman Group | Real Estate | 28,139,300,000 |
NCM | Newcrest Mining Ltd | Materials | 25,395,500,000 |
WPL | Woodside Petroleum Ltd | Energy | 21,883,400,000 |
COL | Coles Group Ltd | Consumer Staples | 20,649,200,000 |
BXB | Brambles Ltd | Industrials | 17,635,900,000 |
ASX | ASX Ltd | Financials | 17,015,100,000 |
ALL | Aristocrat Leisure Ltd | Consumer Discretionary | 16,908,600,000 |
RHC | Ramsay Health Care Ltd | Health Care | 15,941,600,000 |
FPH | Fisher & Paykel Healthcare Corporation Ltd | Health Care | 15,882,800,000 |
AMC | Amcor Plc | Materials | 14,532,200,000 |
IAG | Insurance Australia Group Ltd | Financials | 13,935,600,000 |
APA | APA Group | Utilities | 13,592,400,000 |
REA | REA Group Ltd | Communication Services | 13,540,300,000 |
SHL | Sonic Healthcare Ltd | Health Care | 13,390,600,000 |
SYD | Sydney Airport | Industrials | 13,333,000,000 |
QBE | QBE Insurance Group Ltd | Financials | 12,840,900,000 |
A2M | The a2 Milk Company Ltd | Consumer Staples | 12,806,500,000 |
APT | Afterpay Ltd | Information Technology | 12,767,000,000 |
COH | Cochlear Ltd | Health Care | 12,744,000,000 |
XRO | Xero Ltd | Information Technology | 12,294,400,000 |
JHX | James Hardie Industries Plc | Materials | 11,690,200,000 |
SUN | Suncorp Group Ltd | Financials | 11,588,100,000 |
STO | Santos Ltd | Energy | 11,456,900,000 |
SCG | Scentre Group | Real Estate | 11,366,900,000 |
NST | Northern Star Resources Ltd | Materials | 11,226,500,000 |
EVN | Evolution Mining Ltd | Materials | 10,737,800,000 |
ORG | Origin Energy Ltd | Energy | 10,708,200,000 |
MFG | Magellan Financial Group Ltd | Financials | 10,668,900,000 |
AGL | AGL Energy Ltd | Utilities | 10,537,700,000 |
DXS | Dexus | Real Estate | 10,017,200,000 |
S32 | SOUTH32 Ltd | Materials | 9,450,220,000 |
AZJ | Aurizon Holdings Ltd | Industrials | 9,180,470,000 |
MGR | Mirvac Group | Real Estate | 9,048,070,000 |
LLC | Lendlease Group | Real Estate | 8,688,540,000 |
RMD | Resmed Inc | Health Care | 8,585,750,000 |
SGP | Stockland | Real Estate | 8,416,760,000 |
CIM | Cimic Group Ltd | Industrials | 8,169,790,000 |
GPT | GPT Group | Real Estate | 7,791,720,000 |
MPL | Medibank Private Ltd | Financials | 7,766,290,000 |
TPM | TPG Telecom Ltd | Telecommunication Services | 7,663,720,000 |
SPK | Spark New Zealand Ltd | 7,458,400,000 | |
OSH | Oil Search Ltd | Energy | 7,376,370,000 |
CPU | Computershare Ltd | Information Technology | 7,177,470,000 |
SEK | Seek Ltd | Communication Services | 7,129,440,000 |
ORI | Orica Ltd | Materials | 7,041,830,000 |
TWE | Treasury Wine Estates Ltd | Consumer Staples | 7,035,010,000 |
TAH | Tabcorp Holdings Ltd | Consumer Discretionary | 6,605,010,000 |
CWN | Crown Resorts Ltd | Consumer Discretionary | 6,541,350,000 |
AST | Ausnet Services Ltd | Utilities | 6,521,970,000 |
WTC | Wisetech Global Ltd | Information Technology | 6,520,550,000 |
CTX | Caltex Australia Ltd | Energy | 6,322,580,000 |
CCL | Coca-Cola Amatil Ltd | Consumer Staples | 6,298,800,000 |
VCX | Vicinity Centres | Real Estate | 5,987,320,000 |
QAN | Qantas Airways Ltd | Industrials | 5,978,080,000 |
ALX | Atlas Arteria | Industrials | 5,802,580,000 |
SAR | Saracen Mineral Holdings Ltd | Materials | 5,768,120,000 |
AMP | AMP Ltd | Financials | 5,756,300,000 |
BSL | Bluescope Steel Ltd | Materials | 5,639,540,000 |
SVW | Seven Group Holdings Ltd | Industrials | 5,633,340,000 |
DMP | Domino’s PIZZA Enterprises Ltd | Consumer Discretionary | 5,357,120,000 |
QUB | QUBE Holdings Ltd | Industrials | 5,160,840,000 |
ALU | Altium Ltd | Information Technology | 4,886,330,000 |
IEL | Idp Education Ltd | Consumer Discretionary | 4,776,250,000 |
SOL | Washington H Soul Pattinson & Company Ltd | Energy | 4,637,090,000 |
ANN | Ansell Ltd | Health Care | 4,596,140,000 |
CHC | Charter Hall Group | Real Estate | 4,541,330,000 |
WOR | Worley Ltd | Energy | 4,475,320,000 |
AWC | Alumina Ltd | Materials | 4,362,960,000 |
JBH | JB Hi-Fi Ltd | Consumer Discretionary | 4,360,970,000 |
HVN | Harvey Norman Holdings Ltd | Consumer Discretionary | 4,186,580,000 |
NXT | NEXTDC Ltd | Information Technology | 4,090,870,000 |
CWY | Cleanaway Waste Management Ltd | Industrials | 4,087,350,000 |
BLD | Boral Ltd | Materials | 4,069,170,000 |
CAR | Carsales.com Ltd | Communication Services | 3,995,770,000 |
BPT | Beach Energy Ltd | Energy | 3,808,950,000 |
IPL | Incitec Pivot Ltd | Materials | 3,807,750,000 |
APX | Appen Ltd | Information Technology | 3,750,440,000 |
MIN | Mineral Resources Ltd | Materials | 3,656,310,000 |
ILU | Iluka Resources Ltd | Materials | 3,606,230,000 |
SKI | Spark Infrastructure Group | Utilities | 3,598,390,000 |
ALQ | Als Ltd | Industrials | 3,401,100,000 |
BEN | Bendigo and Adelaide Bank Ltd | Financials | 3,291,010,000 |
ORA | Orora Ltd | Materials | 3,233,920,000 |
VEA | Viva Energy Group Ltd | Energy | 3,130,700,000 |
OZL | OZ Minerals Ltd | Materials | 3,121,930,000 |
CNU | Chorus Ltd | 3,107,000,000 | |
BRG | Breville Group Ltd | Consumer Discretionary | 3,076,680,000 |
IGO | IGO Ltd | Materials | 3,060,330,000 |
PME | Pro Medicus Ltd | Health Care | 3,047,720,000 |
CGF | Challenger Ltd | Financials | 3,024,760,000 |
FBU | Fletcher Building Ltd | Materials | 2,926,110,000 |
TNE | Technology One Ltd | Information Technology | 2,919,020,000 |
SDF | Steadfast Group Ltd | Financials | 2,883,110,000 |
SGR | The Star Entertainment Group Ltd | Consumer Discretionary | 2,788,660,000 |
RRL | Regis Resources Ltd | Materials | 2,779,750,000 |
MTS | Metcash Ltd | Consumer Staples | 2,750,160,000 |
FLT | Flight Centre Travel Group Ltd | Consumer Discretionary | 2,715,050,000 |
DOW | Downer Edi Ltd | Industrials | 2,670,210,000 |
PMV | Premier Investments Ltd | Consumer Discretionary | 2,603,080,000 |
NEC | Nine Entertainment Co. Holdings Ltd | Communication Services | 2,558,090,000 |
GOZ | Growthpoint Properties Australia | Real Estate | 2,477,410,000 |
RWC | Reliance Worldwide Corporation Ltd | Industrials | 2,417,690,000 |
SCP | Shopping Centres Australasia Property Group | Real Estate | 2,410,690,000 |
BOQ | Bank of Queensland Ltd | Financials | 2,380,720,000 |
BWP | BWP Trust | Real Estate | 2,370,400,000 |
BKW | Brickworks Ltd | Materials | 2,343,520,000 |
SBM | ST Barbara Ltd | Materials | 2,285,060,000 |
PTM | Platinum Asset Management Ltd | Financials | 2,211,780,000 |
NAN | Nanosonics Ltd | Health Care | 2,164,350,000 |
LNK | Link Administration Holdings Ltd | Information Technology | 2,163,740,000 |
CMW | Cromwell Property Group | Real Estate | 2,129,490,000 |
NUF | Nufarm Ltd | Materials | 2,122,490,000 |
NHF | Nib Holdings Ltd | Financials | 2,096,800,000 |
CLW | Charter Hall Long Wale REIT | Real Estate | 2,078,720,000 |
CSR | CSR Ltd | Materials | 2,043,460,000 |
PDL | Pendal Group Ltd | Financials | 2,014,290,000 |
BAP | Bapcor Ltd | Consumer Discretionary | 1,999,140,000 |
SLR | Silver Lake Resources Ltd | Materials | 1,988,450,000 |
IRE | Iress Ltd | Information Technology | 1,978,000,000 |
NWL | Netwealth Group Ltd | Financials | 1,946,720,000 |
ABC | Adbri Ltd | Materials | 1,930,710,000 |
VVR | Viva Energy REIT | Real Estate | 1,905,300,000 |
VOC | Vocus Group Ltd | 1,867,920,000 | |
CQR | Charter Hall Retail REIT | Real Estate | 1,844,150,000 |
WHC | Whitehaven Coal Ltd | Energy | 1,816,100,000 |
NSR | National Storage REIT | Real Estate | 1,808,630,000 |
PNV | Polynovo Ltd | Health Care | 1,778,330,000 |
DHG | Domain Holdings Australia Ltd | Communication Services | 1,764,480,000 |
IFL | IOOF Holdings Ltd | Financials | 1,688,680,000 |
SUL | Super Retail Group Ltd | Consumer Discretionary | 1,687,030,000 |
ABP | Abacus Property Group | Real Estate | 1,679,500,000 |
APE | AP Eagers Ltd | Consumer Discretionary | 1,677,770,000 |
BIN | Bingo Industries Ltd | Industrials | 1,654,140,000 |
GOR | Gold Road Resources Ltd | Materials | 1,636,270,000 |
IVC | Invocare Ltd | Consumer Discretionary | 1,634,850,000 |
IPH | IPH Ltd | Industrials | 1,629,410,000 |
VUK | Virgin Money Uk Plc | Financials | 1,624,130,000 |
SKC | Skycity Entertainment Group Ltd | Consumer Discretionary | 1,607,940,000 |
SGM | Sims Ltd | Materials | 1,572,670,000 |
HLS | Healius Ltd | Health Care | 1,538,170,000 |
ELD | Elders Ltd | Consumer Staples | 1,534,940,000 |
LYC | Lynas Corporation Ltd | Materials | 1,464,490,000 |
WEB | Webjet Ltd | Consumer Discretionary | 1,457,710,000 |
PPT | Perpetual Ltd | Financials | 1,449,620,000 |
BKL | Blackmores Ltd | Consumer Staples | 1,444,250,000 |
ARB | ARB Corporation Ltd | Consumer Discretionary | 1,378,670,000 |
INA | Ingenia Communities Group | Real Estate | 1,368,240,000 |
EML | EML Payments Ltd | Information Technology | 1,338,090,000 |
CTD | Corporate Travel Management Ltd | Consumer Discretionary | 1,320,000,000 |
ASB | Austal Ltd | Industrials | 1,301,370,000 |
RSG | Resolute Mining Ltd | Materials | 1,295,820,000 |
UMG | United Malt Group Ltd | Consumer Staples | 1,295,510,000 |
CGC | Costa Group Holdings Ltd | Consumer Staples | 1,282,660,000 |
JHG | Janus Henderson Group Plc | Financials | 1,234,170,000 |
ING | Inghams Group Ltd | Consumer Staples | 1,233,980,000 |
BVS | Bravura Solutions Ltd | Information Technology | 1,194,840,000 |
CUV | Clinuvel Pharmaceuticals Ltd | Health Care | 1,148,790,000 |
BGA | Bega Cheese Ltd | Consumer Staples | 1,140,810,000 |
NHC | New Hope Corporation Ltd | Energy | 1,139,440,000 |
MND | Monadelphous Group Ltd | Industrials | 1,123,480,000 |
CCP | Credit Corp Group Ltd | Financials | 1,065,190,000 |
AVH | Avita Medical Ltd | Health Care | 1,045,380,000 |
URW | Unibail-Rodamco-Westfield | Real Estate | 1,012,960,000 |
GNC | Graincorp Ltd | Consumer Staples | 1,009,250,000 |
NEA | Nearmap Ltd | Information Technology | 991,448,000 |
CKF | Collins Foods Ltd | Consumer Discretionary | 927,987,000 |
GUD | G.U.D. Holdings Ltd | Consumer Discretionary | 922,500,000 |
NWS | News Corporation | Communication Services | 885,415,000 |
SIQ | Smartgroup Corporation Ltd | Industrials | 876,779,000 |
PRN | Perenti Global Ltd | Materials | 866,264,000 |
GEM | G8 Education Ltd | Consumer Discretionary | 861,797,000 |
NWH | NRW Holdings Ltd | Industrials | 829,903,000 |
SSM | Service Stream Ltd | Industrials | 824,213,000 |
GWA | GWA Group Ltd | Industrials | 818,238,000 |
TGR | Tassal Group Ltd | Consumer Staples | 817,654,000 |
SFR | Sandfire Resources Ltd | Materials | 811,044,000 |
PNI | Pinnacle Investment Management Group Ltd | Financials | 781,508,000 |
JIN | Jumbo Interactive Ltd | Consumer Discretionary | 740,970,000 |
MYX | Mayne Pharma Group Ltd | Health Care | 713,604,000 |
MMS | Mcmillan Shakespeare Ltd | Industrials | 684,049,000 |
COE | Cooper Energy Ltd | Energy | 683,192,000 |
ORE | Orocobre Ltd | Materials | 681,647,000 |
HUB | HUB24 Ltd | Financials | 651,086,000 |
OML | Ooh!Media Ltd | Communication Services | 645,049,000 |
WSA | Western Areas Ltd | Materials | 635,699,000 |
SXL | Southern Cross Media Group Ltd | Communication Services | 594,474,000 |
PLS | Pilbara Minerals Ltd | Materials | 589,282,000 |
EHE | Estia Health Ltd | Health Care | 390,602,000 |
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