JUST Capital’s unique data, indexes, analysis, and rankings allow the investment community to align their decision-making with their values and lend their influence and resources towards building a just marketplace.
We conduct our own analysis of the connections between just corporate performance and financial returns (see JUST Alpha research and articles below), and we make our data available to others to do the same.
We are also launching a family of investable Indexes, beginning with the JUST Capital U.S. Large-Cap Diversified Index, launched in November 2016, to help investors allocate capital to JUST-aligned investment strategies.
JUST U.S. Large Cap Diversified Index
One of the key takeaways from our work is that being just is good for business and good for shareholders alike. Launched in November 2016, the JUST U.S. Large Cap Diversified Index (JULCD) is designed to track the performance of U.S. large-capitalization companies that most closely align with the American public’s definition of just business behavior. It is based on the annual rankings of just business behavior produced by JUST Capital.
The JULCD index includes the top 50% of Russell 1000 companies ranked by JUST Capital by industry and is constructed to match the Russell 1000’s industry weights. The index generally tracks the Russell 1000’s broad market exposure -making it suitable for a core US equity allocation- while including only the companies that rank well on the issues that matter most to the American public.
Index Construction & Methodology Summary
The JUST U.S. Large Cap Diversified Index is rebalanced every December with the basket of the top-ranked 50% of stocks by industry, based on the most recent JUST Capital rankings. Constituents are reweighted so that each ICB industry weight in the JULCD index will match that of the Russell 1000. Each constituent’s weight within its ICB industry is proportional to its market capitalization.
- JUST Capital.
- Russell 1000 Index.
- The JULCD index includes the top 50% of Russell 1000 companies ranked by JUST Capital in each JUST industry in its most recent annual ranking.
- Modified market capitalization. JULCD constituents are reweighted so that each Industry Classification Benchmark (ICB) industry weight in JULCD matches that of the Russell 1000 at reconstitution. Each JULCD constituent weight within its ICB industry is proportional to its market capitalization.
- United States.
- US dollar.
- Total return.
- Effective at close of third Friday of December, or next available trading date.
- Standard FTSE Russell methodology for market cap-weighted indices.
- 1,000 as of November 30, 2016.
- FTSE Russell.
- Bloomberg: JULCD
- Thomson Reuters: (RIC: .TFTJULCDU).
Performance (total return)
Note: Russell 1000 normalized to value of 1000 as November 30th 2016
Stocks are weighted so that at each rebalance date the ICB industry weight in the JULCD index will match that of the Russell 1000. Each constituent weight within its relevant industry is proportional to its market capitalization. Between rebalance dates, stock weightings may differ from the Russell’s due to individual stock price performance.
The information contained herein is for informational purposes only without regard to any particular user’s investment objectives, risk tolerances or financial situation and does not constitute investment advice, nor should it be considered a solicitation or offering to investors residing outside the United States. JUST Capital makes no representation as to the advisability of investing in any investment fund or other vehicle. The addition, removal, or inclusion of a security in any JUST Capital index is not a recommendation to buy, sell, or hold that security, nor is it investment advice. Prospective investors should not make a decision to invest in any investment fund or other vehicle based on the information contained in this website, and JUST Capital shall not be responsible or liable for any advice given to third parties or decisions to invest in any investment fund or other vehicle by you or third parties based on the information. It is not possible to invest directly in an index. Index performance does not reflect the deduction of any fees or expenses. Past results of the JUST U.S. Large Cap Diversified Index are no guarantee of future performance.
Frank Russell Company (“Russell”) is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and / or Russell ratings or underlying data and no party may rely on any Russell Indexes and / or Russell ratings and / or underlying data contained in this communication. No further distribution of Russell Data is permitted without Russell’s express written consent. Russell does not promote, sponsor or endorse the content of this communication. The Russell 1000 Index is an unmanaged capitalization-weighted index stocks designed to measure performance of approximately the 1000 largest companies in U.S. equity markets.
JUST 100 Index
We've calculated the historical returns of equity indices based on the JUST 100 top-ranked companies from JUST Capital’s 2017 rankings, released on December 12, 2017. We constructed three JUST 100 index variants and compared them to the Russell 1000 and to the JUST US Large Cap Diversified Index (JULCD). The three JUST 100 calculations are market cap weighted, equal weighted with annual rebalancing, and equal weighted with quarterly rebalancing. We examined 10, 5, and 1-year periods ending November 30, 2017.
The charts below show the historical performance, risk, and tracking error versus the Russell 1000 of all the JUST indices, as well as important risk-adjusted return metrics.
Note: These calculations are based on historical data for the JUST 100 constituents announced on Dec 12, 2017. The JUST 100 constituents were unchanged for the duration of the calculation. Stocks with trading histories shorter than 10 years were added to the JUST 100 index as they became available for trading. JULCD information is also based on a fixed basket before November 30, 2016. JULCD data after November 30, 2016 is based on published live index history.