Small Cap Indexes

Our small-cap indexes seek to represent the performance of the diversified set of sectors and industries among small-cap companies across both developed and emerging markets. While the MSCI World Index comprises around 1,325 constituents, for example, the MSCI World Small Cap Index comprises over 3,800.¹

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Tap into diverse universe

Access indexes that cover wide variety of sector and industry exposures.

Seek opportunities across markets

Leverage extensive suite of indexes encompassing both developed and emerging markets.

Refine your investment universe

Target small-cap companies through small-cap indexes or as part of our broader investable market indexes.

Our indexes aim to cover the investable market

We use a dynamic approach to classify companies by small-, mid- or large-cap to ensure our indexes remain agile and evolve along with the markets.

* Indicative only; actual values may vary by up to ±5%

Small Cap Indexes
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Showing 1-20 of 68 equity indexes

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Index	Index code	Last	Day	MTD	3M	YTD	1 YR	3 YR	5 YR	10 YR
MSCI Australia Small Cap Index	106207	981.33	1.04%	2.02%	-5.69%	2.61%	6.58%	16.43%	3.82%	8.30%
MSCI Austria Small Cap Index	106208	2400.28	0.52%	1.32%	-9.15%	5.88%	22.53%	30.74%	13.62%	13.25%
MSCI Belgium Small Cap Index	106209	860.24	-0.30%	2.82%	-6.41%	3.54%	7.27%	12.78%	1.28%	8.27%
MSCI Canada Small Cap Index	106210	1167.05	-2.30%	2.03%	-5.88%	7.98%	19.32%	28.44%	11.43%	12.97%
MSCI Denmark Small Cap Index	106211	3541.81	0.18%	3.58%	6.89%	8.30%	17.71%	26.38%	9.79%	14.50%
MSCI Finland Small Cap Index	106212	1173.93	0.20%	1.51%	-7.61%	-5.52%	2.08%	13.68%	-0.14%	6.94%
MSCI France Small Cap Index	106213	571.83	0.57%	2.90%	-6.56%	3.67%	7.96%	7.93%	-1.82%	3.53%
MSCI Germany Small Cap Index	106214	702.47	-0.33%	1.42%	-8.68%	-6.63%	0.42%	7.22%	-3.25%	6.93%
MSCI Hong Kong Small Cap Index	106215	255.32	1.41%	2.62%	-11.67%	-9.67%	-14.87%	5.64%	-2.36%	-0.98%
MSCI Ireland Small Cap Index	106216	4124.65	-0.53%	-1.38%	-8.82%	29.13%	29.60%	23.56%	18.26%	16.61%
MSCI Italy Small Cap Index	106217	656.00	0.17%	3.02%	-1.93%	7.62%	13.53%	27.31%	13.19%	15.10%
MSCI Japan Small Cap Index	106218	547.88	1.78%	-1.59%	-3.17%	16.00%	18.99%	19.93%	8.78%	8.16%
MSCI Netherlands Small Cap Index	106220	827.01	0.04%	0.73%	-1.09%	22.22%	34.56%	20.78%	8.66%	15.22%
MSCI New Zealand Small Cap Index	106221	1360.53	1.25%	3.01%	-3.60%	-9.95%	-9.08%	-3.55%	-7.83%	3.75%
MSCI Norway Small Cap Index	106222	773.37	-0.90%	-4.44%	2.54%	29.44%	37.44%	27.14%	7.74%	10.05%
MSCI Portugal Small Cap Index	106223	692.79	0.44%	3.05%	0.44%	11.65%	15.98%	34.04%	23.60%	13.78%
MSCI Singapore Small Cap Index	106224	986.73	0.40%	-0.85%	-9.05%	-5.22%	-3.90%	10.57%	3.36%	5.60%
MSCI Spain Small Cap Index	106225	1142.29	0.41%	4.77%	-3.62%	9.25%	13.85%	29.15%	16.26%	11.58%
MSCI Sweden Small Cap Index	106226	1852.77	0.14%	1.86%	-0.71%	1.84%	6.95%	15.27%	-3.44%	7.90%
MSCI Switzerland Small Cap Index	106227	1226.79	-0.24%	0.44%	-0.97%	4.49%	11.07%	14.80%	3.22%	9.56%

These Additional Terms of Use govern your access or use of the index data and related information and materials on the MSCI web site ("Index Data"). Initial and subsequent access and use of the MSCI web site and Index Data is subject to these Additional Terms of Use.

The Index Data is for informational, non-commercial purposes only, and the user of the information contained in the Index Data assumes the entire risk of any use made of the Index Data. You understand and agree that the Index Data is provided "as is" and MSCI does not warrant the accuracy, completeness, non-infringement, originality, timeliness or any other characteristic of the Index Data.

The Index Data is not an offer or recommendation to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. Further, none of the Index Data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. Reproduction, redistribution or any other form of copying or transmission of the Index Data without MSCI's prior written consent is strictly prohibited. Without limiting the generality of the foregoing, the Index Data and other MSCI intellectual property you access via the MSCI web site may not, without MSCI's prior written permission, be used as a basis for any financial instruments or products (including, without limitation, passively managed funds and index-linked derivative securities) or other products or services, or used to verify or correct data in any other compilation of data or index, or used to create any other data or index (custom or otherwise), or used to create any derivative works, or used for any other commercial purposes.

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3 YR

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Broad opportunity set

Both academic² and MSCI research³ have examined the unique characteristics of small-cap companies and their role in diversification and potential returns over time. 

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Developed Markets Indexes

Explore indexes designed to measure the performance of established capital markets.

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Emerging Markets Indexes

Identify opportunities across transforming global economies with our suite of Emerging Markets Indexes.

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1 As of June 2025.

2 Fama, Eugene F & French, Kenneth R, 1992. "The Cross-Section of Expected Stock Returns," Journal of Finance, American Finance Association, vol. 47(2), pages 427-465, June.

3 https://www.msci.com/www/blog-posts/small-caps-have-been-a-big/03951176075

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Small Cap Indexes

Target benefits
Think bigger about small caps

Tap into diverse universe

Seek opportunities across markets

Refine your investment universe

Our indexes aim to cover the investable market

Small Cap Indexes
View performance details, fact sheets and more

Broad opportunity set

Small Cap index resources

Small Cap Indexes: our building block approach

Market classification

Looking for more about Small Cap Indexes?
Get in touch.

Related to Small Cap Indexes

Developed Markets Indexes

Emerging Markets Indexes

Featured solutions bring together a variety of products to create approaches customized to your needs

MSCI Research Weekly

By topic

By asset class

MSCI SignalLab

Index categories

Index resources

Capture the U.S. equity market

By asset class

By theme

The foundations of infrastructure investing

Who we are

News and events

Innovation

Grow with us

Small Cap Indexes

Target benefitsThink bigger about small caps

Tap into diverse universe

Seek opportunities across markets

Refine your investment universe

Our indexes aim to cover the investable market

Small Cap IndexesView performance details, fact sheets and more

Broad opportunity set

Small Cap index resources

Small Cap Indexes: our building block approach

Market classification

Looking for more about Small Cap Indexes?Get in touch.

Related to Small Cap Indexes

Developed Markets Indexes

Emerging Markets Indexes

Target benefits
Think bigger about small caps

Small Cap Indexes
View performance details, fact sheets and more

Looking for more about Small Cap Indexes?
Get in touch.