Direct Answer
The SETCLMV Index is a rule-based measurement of Thai companies operating in CLMV countries, maintained by Stock Exchange of Thailand. 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 SETCLMV Index covers Thai companies operating in CLMV countries, within the Thailand market. Stock Exchange of Thailand 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
A CLMV revenue exposure adjusted market capitalization weighting, where each security's weight reflects its revenue from Cambodia, Laos, Myanmar and Vietnam. Each constituent is capped at a maximum weight of 5 percent, adjusted quarterly.
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
Listed companies earning at least 10% of total revenue or at least 100 million baht from CLMV countries, based on financial statement notes, annual disclosure forms or a SET survey, with an average market cap of at least THB 5,000 million. A monthly volume of at least 0.5% of registered shares in 3 of 4 trading months is also required, and no market surveillance measure.
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
Basic qualifications for the tradable group apply: listed for no less than 6 months, no long suspension, no bankruptcy or debt default, and no disclaimer or adverse audit opinion.
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
Reviewed twice a year, with changes effective in January using data to the end of November and in July using data to the end of May. Weight caps are adjusted quarterly.
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
The revenue test is either 10% of revenue or 100 million baht, so a large company with a small CLMV share can qualify alongside a small company that depends heavily on those markets.
References
- Stock Exchange of Thailand: Stock Exchange of Thailand Ground Rules for SET Index Series, as published 2026. Every rule described on this page is taken from this document.
Current SETCLMV Index constituents
Stock Exchange of Thailand publishes and licenses the SETCLMV 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 SETCLMV Index?
Stock Exchange of Thailand maintains the SETCLMV Index and publishes the methodology document that defines its eligibility and weighting rules.
What does the SETCLMV Index measure?
It measures Thai companies operating in CLMV countries. 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 SETCLMV Index constituents?
Stock Exchange of Thailand publishes the current constituent list. Swoopr does not republish it, because index providers license constituent data and Swoopr holds no such licence.