Direct Answer
The FTSE Developed Index is a rule-based measurement of large- and mid-cap companies across developed market countries worldwide, maintained by FTSE Russell. Like every index it owns nothing: it is a number produced by applying a published weighting formula to a selected list of companies, revised on a schedule the provider sets.
What this index covers
The FTSE Developed Index covers large- and mid-cap companies across developed market countries worldwide, within the Global market. FTSE Russell defines which securities are eligible, how they are selected from that pool, and how much each one contributes to the published number.
The index name does not state a fixed company count, so the number of constituents follows the eligibility rules rather than a target.
How constituents are weighted
Market capitalisation weighting adjusted for free float and foreign ownership limits, applied to the countries FTSE classes as developed. Index performance is measured from the change in total index market capitalisation after capital changes and investability weight adjustments. Capped variants follow a separate guide.
The weighting method is the single biggest driver of how an index behaves. Two indexes covering the same market can diverge for years purely because they weight differently, which is why comparing index levels without knowing the method tells you very little.
What qualifies for inclusion
Companies assigned a developed market nationality under the FTSE classification in Appendix E. Companies need more than 5% of voting rights in unrestricted hands and a free float above 5%, and must pass liquidity and trading screens. Closed end investment trusts and partnership structures are excluded.
Eligibility rules are the part of an index most readers never look at and the part that decides what it can possibly measure. A screen that excludes a whole sector, or admits only one listing venue, shapes the result far more than any day of trading does.
How long a listing must exist first
An IPO that exceeds both the full and investable fast entry thresholds is added after the close of its fifth trading day. Otherwise it is considered at the next review, and a quarterly addition needs at least a three month trading record.
A seasoning rule is why a large new listing does not appear in an index the week it starts trading. It is a deliberate lag, and it means an index can under-represent a fast-growing part of the market for months at a time.
When the membership is revised
Regional reviews take place in March and September using December and June data, with changes effective after the third Friday. Developed Europe, Canada, Japan, the USA and Asia Pacific are reviewed as groups, and June and December quarterly reviews handle IPO and share updates.
Reconstitution is the one date an index changes shape by design rather than by price. Funds tracking it have to trade toward the new membership, which is why the schedule matters to anyone holding the tracker rather than only to the provider.
The rule that surprises people
Country classification comes from FTSE's own criteria and an annual review: a watch list is published in March and September, results come each September, and FTSE normally gives at least six months notice before a country changes category.
References
- FTSE Russell: FTSE Russell, FTSE Global Equity Index Series Ground Rules, as published 2026. Every rule described on this page is taken from this document.
Current FTSE Developed Index constituents
FTSE Russell publishes and licenses the FTSE Developed Index constituent list. Swoopr does not republish it here. The provider's own page is the authoritative source for current membership and weights.
Related reading
- All stock market indexes: how indexes are built, weighted and revised.
- Global indexes: others covering the same region.
- Index concentration: measuring how much of an index sits in its largest holdings.
- Index rebalancing and inclusion effects: what happens to a stock when index membership changes.
Frequently Asked Questions
Who maintains the FTSE Developed Index?
FTSE Russell maintains the FTSE Developed Index and publishes the methodology document that defines its eligibility and weighting rules.
What does the FTSE Developed Index measure?
It measures large- and mid-cap companies across developed market countries worldwide. The index is a calculated number applying a weighting formula to a selected list of companies, and it holds nothing itself.
Where can I see the current FTSE Developed Index constituents?
FTSE Russell publishes the current constituent list. Swoopr does not republish it, because index providers license constituent data and Swoopr holds no such licence.