The S&P 400 is a stock market index tracking the stock performance of 400 companies listed on stock exchanges in the United States that are considered to have medium market capitalizations. The S&P 400 is a subset of the S&P 1500. It is maintained by S&P Dow Jones Indices and its components are selected by a committee.
The index is a public-float-weighted/capitalization-weighted index. The index includes approximately 5% of the total market capitalization of U.S. public companies, with an aggregate market capitalization of more than $2.9 trillion as of December 31, 2025. The median market capitalization of the components of the index is $7.9 billion and components range in market capitalization from $1.5 billion to $33.6 billion.
Products linked to the S&P 400 include index funds as well as derivatives, which are available for trading in many countries with the goal of replicating the performance of the index.Wikipedia