Direct Answer
The IDX High Dividend 20 is a rule-based measurement of Indonesian high-dividend equity benchmark, maintained by Indonesia Stock Exchange. 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 IDX High Dividend 20 covers Indonesian high-dividend equity benchmark, within the Indonesia market. Indonesia Stock Exchange defines which securities are eligible, how they are selected from that pool, and how much each one contributes to the published number.
The name states a target of 20 companies. A target is not a guarantee of the exact count on any given day: corporate actions, dual share classes and pending additions all move the real number around it.
How constituents are weighted
Capped dividend yield adjusted free float market capitalisation weighted: market capitalisation times free float ratio times dividend yield. At each periodic review no weight may exceed 15%.
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
Stocks that distributed cash dividends every year over the past three years, recorded net profits and had high regular market transaction value over the past 12 months. Twenty are chosen on three year dividend yield, 12 month transaction value and free float market capitalisation.
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
A major review in January and minor reviews in April, July and October, effective on the third trading day of February, May, August and November. Changes are announced no later than five exchange days before the effective date.
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
Free float is defined as scripless shares held by investors owning less than 5%, excluding management and treasury stock, so any holder at 5% or more is treated as non float.
References
- Indonesia Stock Exchange: Indonesia Stock Exchange, IDX Index Fact Sheet IDX High Dividend 20 (February 2026), as published 2026. Every rule described on this page is taken from this document.
Current IDX High Dividend 20 constituents
Indonesia Stock Exchange publishes and licenses the IDX High Dividend 20 constituent list. Swoopr does not republish it here. The provider's own page is the authoritative source for current membership and weights.
Indonesia Stock Exchange: official IDX High Dividend 20 page
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 IDX High Dividend 20?
Indonesia Stock Exchange maintains the IDX High Dividend 20 and publishes the methodology document that defines its eligibility and weighting rules.
What does the IDX High Dividend 20 measure?
It measures Indonesian high-dividend equity benchmark. 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 IDX High Dividend 20 constituents?
Indonesia Stock Exchange publishes the current constituent list. Swoopr does not republish it, because index providers license constituent data and Swoopr holds no such licence.