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Capping factors guarantee well-balanced and diversified Index exposure, thus preventing large companies from dominating an Index. We have developed an elaborate cap factor model that on one hand prevents overweighting and on the other hand still reflects the actual size of a company in relation to all Index components. Cap factor model:

  • Country and regional Indexes: Maximum cap of 8% for local companies and 4.5% for non-local companies.
  • Commodity and Sector Indexes: Maximum cap of 8 percent (or 20% for selected Indexes).
  • Special capping schemes: MVIS® Australia Banks and MVIS® Australia A-REITs Indexes.


The table shows the weight distribution of the biggest companies in the MVIS®  Poland Index with and without the application of cap factors. A full overview of capping rules can be found in Chapter 3 of the MVIS® Global Equity Index Guide.

Component Weighting in MVIS® Poland Index

(example values based on previous index reviews)

CompanyCountryFloat MCapWeightCapped Float MCapCapped WeightCapping Factor
PKN ORLENPLUSD  8,004,262,977 15.66%USD  1,891,472,049   8.00%0.236308
BANK POLSKIPLUSD  4,303,106,974 8.42%USD  1,940,656,939   8.00%0.450990
DINO POLSKAPLUSD  4,361,204,619 8.53%USD  1,794,783,082   7.00%0.411534
PZUPLUSD  3,867,367,547 7.56%USD  1,624,492,245   6.50%0.420051
KGHMPLUSD   3,234,990,309 6.33%USD  1,539,923,772   6.00%0.476021
BUMECHPLUSD  67,768,298   0.13%USD  67,768,298     0.27%1.000000


Component Weighting in MVIS® Poland Index