Issue link: https://info.seic.com/i/1445430
SEI Portfolio Update: First Quarter 2023 III Index and Benchmark Descriptions (continued) The ICE BofA US High Yield Constrained Index is a market- value weighted index of all domestic and Yankee high-yield bonds, including deferred interest bonds and payment-in- kind securities. Its securities have maturities of one year or more and a credit rating lower than BBB-/Baa3 but are not in default. The JPM EMBI Global Diversified Index tracks the performance of external debt instruments (including U.S.-dollar- denominated and other external-currency-denominated Brady bonds, loans, Eurobonds and local-market instruments) in the emerging markets. The JPM GBI EM Global Diversified Index tracks the performance of debt instruments issued in domestic currencies by emerging-market governments. The MSCI EAFE Index is an unmanaged, market-capitalization- weighted equity index that represents the developed world outside North America. The MSCI Emerging Markets Index is a free float-adjusted market-capitalization-weighted index designed to measure the performance of global emerging-market equities. The MSCI World Index is a free float-adjusted market- capitalization-weighted index that is designed to measure the equity market performance of developed markets. The MSCI World Index consists of 24 developed-market country indexes. The Russell 1000 Growth Index measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values. The Russell 1000 Index includes 1000 of the largest U.S. equity securities based on market cap and current index membership; it is used to measure the activity of the U.S. large-cap equity market. The Russell 1000 Value Index measures the performanceof the large-cap value segment of the U.S. equity universe. It includes those Russell 1000 Index companies with lower price-to-book ratios and lower expected growth values. The Russell 2000 Growth Index measures the performance of the small-cap growth segment of the U.S. equity universe. It includes those Russell 2000 Index companies with higher price-to-value ratios and higher forecasted growth values. The Russell 2000 Index includes 2000 small-cap U.S. equity names and is used to measure the activity of the U.S. small-cap equity market. The Russell 2000 Value Index measures the performance of small-cap value segment of the U.S. equity universe. It includes those Russell 2000 Index companies with lower price-to-book ratios and lower forecasted growth values. The Russell 2500 Index measures the performance of the small to mid-cap segment of the U.S. equity universe, commonly referred to as "smid" cap. The Russell 2500 is a subset of the Russell 3000 Index. It includes approximately 2500 of the smallest securities based on a combination of their market cap and current index membership. The Russell 3000 Index measures the performance of the largest 3000 U.S. companies representing approximately 98% of the investable U.S. equity market. The Russell Midcap Index measures the performance of the mid-cap segment of the U.S. equity universe. The Russell Midcap is a subset of the Russell 1000 Index. It includes approximately 800 of the smallest securities based on a combination of their market cap and current index membership. The Russell Midcap represents approximately 31% of the total market capitalization of the Russell 1000 companies. The S&P 500 Index is a capitalization-weighted index made up of 500 widely-held large-cap U.S. stocks. The S&P 500 Equal-Weighted Index (EWI) includes the same constituents as the capitalization-weighted S&P 500 Index, but each company in the S&P 500 EWI is allocated a fixed weight, or 0.2% of the index total at each quarterly rebalance. The Wilshire Liquid Alternative Index provides a broad measure of the liquid alternatives market. The Wilshire US Real Estate Securities Index (RESI) is used to measure the U.S. real estate market and includes both real- estate investment trusts and real-estate operating companies. It is weighted by float-adjusted market capitalization.