Direct Answer
The IDIV Dividend Index is a rule-based measurement of companies listed on B3 with the highest dividend yields over the past 24 months, maintained by B3. 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 IDIV Dividend Index covers companies listed on B3 with the highest dividend yields over the past 24 months, within the Brazil market. B3 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
Swoopr has not verified the weighting method for this index against B3's current methodology document, so none is stated here rather than guessed. The provider link below is authoritative.
What qualifies for inclusion
Shares and units must be among the 99 percent most traded over the three previous portfolios, trade in 95 percent of sessions in that period, not be penny stocks, rank within the top 33 percent by dividend yield over the last 36 months among liquidity eligible companies, and show a positive sum of dividend yields for each 12 consecutive months.
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.
When the membership is revised
The portfolio is rebalanced every four months (quadrimestral), and the liquidity and trading presence tests look back over the validity period of the three previous portfolios.
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
Two versions exist: the total return version reinvests distributions in the portfolio, while the price return version removes cash distributions so the holder decides what to do with them.
References
- B3: B3 Indice Dividendos (IDIV B3) factsheet, as published 2024. Every rule described on this page is taken from this document.
Current IDIV Dividend Index constituents
B3 publishes and licenses the IDIV Dividend 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.
- Emerging Markets 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 IDIV Dividend Index?
B3 maintains the IDIV Dividend Index and publishes the methodology document that defines its eligibility and weighting rules.
What does the IDIV Dividend Index measure?
It measures companies listed on B3 with the highest dividend yields over the past 24 months. 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 IDIV Dividend Index constituents?
B3 publishes the current constituent list. Swoopr does not republish it, because index providers license constituent data and Swoopr holds no such licence.