S&P DJI employs a modern approach to classifying equity markets around the world as developed, emerging or frontier. Our model is based on a robust set of criteria and conditions that identify markets with the same characteristics and thus enable global comparisons.
Global investor feedback are an invaluable part of our approach for the context they provide. S&P DJI seeks market participant opinions regularly to augment quantitative and qualitative indicators. Used together, these inputs help to ensure that our classifications reliably describe the countries represented so investors using our indices can be confident that they have captured the intended opportunity set.
S&P DJI employs a comprehensive approach to classify equity markets around the world, adopting quantitative criteria complemented by qualitative indicators as well as global investor views.
Developed - 25
Emerging - 24
Frontier - 32
Standalone - 8
Countries must meet certain initial criteria to be considered for developed or emerging classifications. Markets that do not qualify but still meet minimum requirements will be eligible for frontier classification.
Market Classification Changes