KBW Indices Profile

Large-Cap (BKX)

Regional (KRX)

Insurance (KIX)

Capital Markets (KSX)

Mortgage Finance (MFX)

KBW Index Universe

KBW indexes use a float-adjusted, modified capitalization-weighted methodology. This float-adjusted, modified market-capitalization-weighted method is a hybrid between equal and conventional capitalization weighting. This methodology ensures a ‘fund friendly’ and diverse index, designed to effectively measure the performance of the index’s industry or sub-industry.

The KBW Index universe consists of all companies in the Financial Sector of the S&P 500 Index®. Consequently, KBW indexes are typically comprised of larger and more liquid stocks.

The KBW indexes are rebalanced quarterly, and evaluated at least annually, to ensure accurate representation of their respective industries or sub-industries.

U.S. Indices

Financial Services

     Large-Cap (BKX)
     Regional (KRX)

     KIX

     Capital Markets (KSX)
     Mortgage Finance (MFX)

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Disclaimer

The following indices: KBW Bank Index (BKX), KBW Insurance Index (KIX), KBW Capital Markets Index (KSX), KBW Regional Banking Index (KRX), and KBW Mortgage Finance Index (MFX) are the property of Keefe, Bruyette & Woods, Inc. (KBW). KBW does not guarantee the accuracy or completeness of the Index, makes no express or implied warranties with respect to the Index and shall have no liability for any damages, claims, losses or expenses caused by errors in the index calculation. KBW makes no representation regarding the advisability of investing in options on the Index.

Past performance is not necessarily indicative of future results.

This communication is not an offer to sell or a solicitation to buy the securities mentioned. The information relating to any company herein is derived from publicly available sources and Keefe, Bruyette & Woods, Inc. makes no representation as to the accuracy or completeness of such information.