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S&P/ASX Agribusiness Index

The S&P/ASX Agribusiness Index (XAG) provides an unrivalled overview of ASX’s primary industry sector in a single index.

What is the S&P/ASX Agribusiness Index?

Agribusiness has always been an iconic part of ASX’s history and identity. From the origins of our derivative market as the Sydney Greasy Wool Futures Exchange through to today’s globally dynamic capital markets, ASX’s involvement in the agribusiness sector is deep and long-standing.

In partnership with S&P Dow Jones Indices, ASX is excited to launch the S&P/ASX Agribusiness Index – setting a new benchmark for monitoring the performance of ASX-listed primary production companies.

Through the Agribusiness Index, ASX is bringing greater awareness to this vital sector. It will support agribusinesses to grow and prosper by enabling them to tap into one of the deepest pools of investment capital worldwide. It will also provide new and exciting opportunities for investors to gain exposure to this sector.

Featured companies

Featuring leading and emerging agribusiness companies across a range of sectors, the S&P/ASX Agribusiness Index sets a new benchmark for monitoring the performance of primary production companies.

The XAG top 20 constituents now and their ranking since 2015

The ranking below has been constructed against the index criteria using historical data.

The Agribusiness performance benchmark

The S&P/ASX Agribusiness Index is the benchmark for monitoring the performance of the agribusiness sector. Its constituents represent companies involved in the primary production of agricultural products and the production of commodities used as inputs into primary production of agricultural products.

The S&P/ASX Agribusiness Index tracks the performance of agribusiness companies listed on the ASX. The Index provides a quick way to see the health of the sector, guides financial firms in the creation of index funds and exchange-traded funds (ETFs), and helps you gauge the performance of your investments.

Companies included in the index are principally involved in:

  • the primary production of agricultural products; and or
  • the production of commodities used as inputs into primary production of agricultural products.

All ASX-listed companies that meet the eligibility criteria at a rebalance date are included in the index. The index is rebalanced on a semi-annual basis with a reference date being the 3rd Friday of April and October. There is a 10% cap on any single constituent.

The criteria for inclusion are:

Universe

Top 1,000 ASX Listed by Total Market Capitalisation

Constituent selection and weighting

All eligible stocks in the underlying index are selected. Stocks are weighted based on the float market cap with the following constraints:

  • Each company capped at 10%
  • Rebalancing
    • Reference date: 3rd Friday of April and October
    • Effective Date: 3rd Friday of May and November

Eligibility criteria

The following eligibility criteria must be met:

  • 8 weeks of listing history as of the reference date. IPO's & new listings will require at least 8 Weeks of trading history to be eligible.
  • Last 6 Months Median Daily Value Traded >= AUD 80,000 (20% relaxation for existing constituents).
  • The index is designed to capture companies that are defined by GICS (Global Industry Classification Standard).  The GICS categories eligible for inclusion are: Fertilizers & Agricultural Chemicals 15101030, Paper Products 15105020, Food Distributors 30101020, Brewers 30201010, Distillers & Vintners 30201020, Agricultural Products 30202010, Packaged Foods & Meats 30202030, Pharmaceuticals 35202010, Water Utilities 55104010, Diversified REITs 60101010, Specialized REITs 601010803

The eligibility criteria are designed to ensure the investability of the index by setting capitalisation and liquidity standards and capping participation by any one company at 10%.

The Index is designed to be a broad representation of agribusiness-related businesses listed on the ASX, while also incorporating investability requirements sufficient to support index-based financial products. As a result, it defines an investable universe of agribusiness-related companies listed on the ASX, and can be used to support index-linked investment products. For more info visit Risks and benefits of index-based investments.

Quick links

Disclaimer

The list of constituents that make up the S&P/ASX Agribusiness Index is subject to change. Information provided on this page is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions. Although ASX Limited ABN 98 008 624 691 and its related bodies corporate (“ASX”) has made every effort to ensure the accuracy of the information as at the date of publication, ASX does not give any warranty or representation as to the accuracy, reliability or completeness of the information. To the extent permitted by law, ASX and its employees, officers and contractors shall not be liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided or omitted or from any one acting or refraining to act in reliance on this information.

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