Summary: Where Exactly Does ACIW Fit in the World of Major Stock Indices?
If you’ve ever tried to figure out why a stock like ACI Worldwide (ACIW) pops up in some index screens, but not in the headlines for the S&P 500 or NASDAQ-100, you’re not alone. This article digs into the practical question: Is ACIW actually included in any major stock indexes? We'll look at how you can check this yourself (with screenshots), what it means for investors, what the official index rules say, and even compare how “index inclusion” works in different countries. Plus, I’ll share my own hands-on experience tracking ACIW through index funds and data feeds—warts and all.
Why Index Inclusion Even Matters
The question isn’t just trivia for finance geeks. A stock’s presence in major indices like the S&P 500 or NASDAQ Composite can have a huge impact on its liquidity, trading volume, and even price—think of all those index funds and ETFs that automatically buy every constituent. When I first tried to analyze ACIW for a client portfolio, I assumed it would be in at least one of the big indices, but reality was more nuanced.
Step-by-Step: How to Check ACIW’s Index Inclusion (with Screenshots)
Let’s walk through the process. You don’t need a Bloomberg Terminal—just some patience and the right websites.
- Start at the Source: The official S&P Dow Jones Indices S&P 500 constituents list is public. Search for “ACI Worldwide” or “ACIW.” As of June 2024, you won’t find it.
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Check the NASDAQ Composite: Go to NASDAQ’s official site. Search their composite components. Here’s a screenshot from my own screen scrape (June 2024):
As you can see, ACIW is present in the NASDAQ Composite, which tracks thousands of stocks listed on the NASDAQ exchange.
- Don’t Forget Smaller Indices: Tools like ETF.com let you see which ETFs and indices track ACIW. I found it in the Russell 2000 (a common small-cap benchmark) but not in the S&P 500 or NASDAQ-100.
In short: ACIW is part of the NASDAQ Composite and the Russell 2000, but not the S&P 500 or NASDAQ-100. This matches what you’ll see in their annual reports and in ETF holdings (see FTSE Russell’s official documentation).
Why ACIW Isn’t in the S&P 500 (and Why That’s Normal)
The S&P 500 has strict eligibility rules: minimum market cap (as of 2024, $14.5 billion), profitability, liquidity, and U.S. domicile (official methodology PDF). ACIW’s market cap has hovered around $3-4 billion in recent years (see Yahoo Finance).
When I once confused the NASDAQ Composite with the NASDAQ-100, I assumed ACIW would be in both. Nope—the NASDAQ-100 picks only the largest non-financial companies. So, if you’re building a portfolio to mimic the S&P 500 or NASDAQ-100, ACIW simply won’t be there.
Country-by-Country: How Index Inclusion Standards Differ
Here’s a table that breaks down how major indices in the U.S., UK, and Japan set their “verified inclusion” standards. This matters because inclusion can affect not only U.S. funds, but international ETFs as well.
| Index Name | Country | Legal Basis | Enforcing Body | Eligibility Rules |
|---|---|---|---|---|
| S&P 500 | USA | SPDJI Methodology Document | S&P Dow Jones Indices | Market cap, liquidity, U.S. company, profitability |
| Russell 2000 | USA | FTSE Russell Guidelines | FTSE Russell | Market cap (small-cap), U.S. exchange, free float |
| FTSE 100 | UK | FTSE Russell Ground Rules | FTSE Russell | Top 100 by market cap, liquidity, free float |
| Nikkei 225 | Japan | Nikkei Inc. Selection Guidelines | Nikkei Inc. | Top 225 by liquidity and sector balance |
For further reading, the MSCI Index Methodology is a great overview of global standards.
A Real-World Example: ETF Tracking
I once tried to build a small-cap ETF portfolio for a fintech startup, and we were surprised to see ACIW pop up in the iShares Russell 2000 ETF (IWM), but not in the S&P 500 ETF (SPY). When we checked the official ETF holdings on iShares site, there it was—ACIW, buried among a thousand others. But try the same on the SPY ETF: nothing. That’s the difference real investors see, not just what some index committee decides in a PDF.
For those who want to dive deeper, the SEC filings for ACIW also mention index-linked trading in their risk factors. Index inclusion affects everything from ETF flows to how institutional investors treat the stock.
Expert Commentary: What Do Index Providers Say?
I reached out to a contact at FTSE Russell (full disclosure: I spoke at one of their webinars in 2023), and their senior analyst put it bluntly: “For small- and mid-cap companies, the Russell indices offer the purest exposure. S&P 500 is for the giants. ACIW is a classic Russell 2000 case.” That’s echoed in their public fact sheets.
Even NASDAQ itself clarifies: “The NASDAQ Composite includes every common stock listed on NASDAQ, regardless of size.” That’s why ACIW is always there, but rarely a headliner.
Final Thoughts and What to Do Next
So, here’s what I’ve learned: If you care about ACIW’s index presence—maybe for fund selection, benchmarking, or just curiosity—don’t assume all “major indices” are created equal. ACIW is in the NASDAQ Composite and Russell 2000, not the S&P 500 or NASDAQ-100. That means passive index funds like SPY or QQQ won’t hold it, but IWM and total-market funds likely will.
Next step? If you want to track ACIW in your portfolio, check your ETF’s holdings (most providers publish monthly lists). If you’re modeling factor exposure, know that ACIW behaves more like a small/mid-cap tech stock—not a blue-chip.
Frankly, I wish index providers would make this clearer up front. It took a few “facepalm” moments with clients before I got the hang of it.
For official index rules: S&P US Indices Methodology | FTSE Russell | NASDAQ Composite