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MOEX Indices: Composition and Performance Overview

— CisFundamentals

MOEX Indices: Composition and Performance Overview
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The Moscow Exchange (MOEX) provides a range of indices tracking different sectors and market segments. For investors and analysts, these indices are the primary benchmarks for evaluating the Russian equity market. Below is an overview of the main MOEX indices, their composition, and historical performance.

MOEX Russia Index (IMOEX)

The IMOEX is the main benchmark of the Russian stock market, reflecting the performance of the most liquid and capitalized companies listed on MOEX.

  • Number of constituents: ~40–50 companies (revised quarterly)
  • Key sectors:
    • Financials (Sberbank, VTB)
    • Energy (Gazprom, Rosneft, Lukoil)
    • Metals & Mining (Norilsk Nickel, Severstal)
    • Telecom & IT (MTS, Yandex)
  • 5-year CAGR (approx.): ~8–10% in RUB (before 2022 market shocks)
  • Dividend yield: historically around 6–7% annually

The index is calculated in both RUB and USD, though RUB remains the primary reference for domestic investors.

MOEX Blue Chip Index

This index includes the 15 most liquid and stable companies traded on the exchange.

  • Main constituents: Sberbank, Gazprom, Rosneft, Lukoil, Norilsk Nickel
  • Focus: Large, well-established companies with stable dividends
  • Performance: Similar to IMOEX but slightly less volatile due to limited diversification

MOEX Broad Market Index (RUBMI)

The RUBMI represents a broader view of the Russian equity market, including mid-cap and smaller issuers.

  • Difference vs IMOEX: Covers more companies, offering better market representation
  • Risk/Return: More volatile but with higher potential upside due to mid-cap exposure

Sectoral Indices

MOEX also offers sector-specific indices, allowing investors to focus on industry trends:

  • MOEX Financials Index (banks & insurance)
  • MOEX Oil & Gas Index
  • MOEX Metals & Mining Index
  • MOEX Consumer Goods & Retail Index

These indices are useful for building targeted strategies or comparing sector performance.

Why It Matters for Investors

  • Benchmarking: IMOEX serves as the primary benchmark for Russian equity funds and ETFs.
  • Dividends: Many companies in these indices have high and stable payouts, making them attractive for income-focused strategies.
  • Fundamentals: Access to detailed financial reports, dividend history, and operational data is essential for proper valuation.

Get MOEX Fundamental Data

For deeper analysis of companies within these indices, structured fundamentals are crucial. Our API provides:

  • 10+ years of historical financial data
  • IFRS & RAS reporting
  • Dividends, corporate disclosures, and operational metrics

➡ Check Documentation or Request Access to explore MOEX fundamentals.