Research Index · VESGMNX
Verde ESG Market Neutral Index
Non-investable research index · S&P 500 universe
Index Level
1,001.49
as of October 9, 2026
Today
+0.15%
Since inception
+0.15%
Long constituents
108
Short constituents
99
Hedge ratio
0.877
Last reconstitution
October 8, 2026
See also the Verde ESG Leaders Index (VESGLIDX).
About the Index
Index Overview
VESGMNX is long the best-scored fifth and short the worst-scored fifth of S&P 500 companies in each GICS sector, ranked by Verde ESG Score. Both legs hold every sector at the same weight and the short leg is scaled so the index targets zero market beta. It measures whether higher-scored companies outperform lower-scored companies in the same line of business.
- Universe
- S&P 500 companies with a Verde ESG Score
- Selection
- Top 20% / bottom 20% of score within GICS sector
- Weighting
- Sector neutral, equal weight within each sector leg
- Market exposure
- Beta neutral, hedge ratio reset quarterly
- Reconstitution
- First trading day of January, April, July and October
- Returns
- Gross of trading costs, financing and stock borrow
- Base
- 1,000.00 at the October 8, 2026 close
Constituents
Long leg (108)
| V | Financials | 99.4 | 0.89% |
| MCO | Financials | 99.4 | 0.89% |
| IQV | Health Care | 98.2 | 0.92% |
| PANW | Information Technology | 97.8 | 1.07% |
| DELL | Information Technology | 97.4 | 1.07% |
| ROK | Industrials | 97.2 | 0.96% |
| BKNG | Consumer Discretionary | 97.0 | 0.93% |
| PM | Consumer Staples | 96.8 | 0.94% |
| NDAQ | Financials | 96.1 | 0.89% |
| MRSH | Financials | 96.1 | 0.89% |
| SPGI | Financials | 96.1 | 0.89% |
| PLD | Real Estate | 95.7 | 0.85% |
| QCOM | Information Technology | 94.7 | 1.07% |
| GEHC | Health Care | 94.3 | 0.92% |
| DHR | Health Care | 94.0 | 0.92% |
| PTC | Information Technology | 93.6 | 1.07% |
| ACN | Information Technology | 93.6 | 1.07% |
| ADBE | Information Technology | 93.6 | 1.07% |
| LITE | Information Technology | 93.6 | 1.07% |
| INTU | Information Technology | 93.6 | 1.07% |
| NFLX | Communication Services | 93.6 | 0.87% |
| HD | Consumer Discretionary | 93.6 | 0.93% |
| HAS | Consumer Discretionary | 93.5 | 0.93% |
| PYPL | Financials | 93.0 | 0.89% |
| MCD | Consumer Discretionary | 92.7 | 0.93% |
| VRSK | Industrials | 92.5 | 0.96% |
| AXP | Financials | 91.8 | 0.89% |
| WAT | Health Care | 91.8 | 0.92% |
| ILMN | Health Care | 91.6 | 0.92% |
| VZ | Communication Services | 91.4 | 0.87% |
| CMCSA | Communication Services | 91.4 | 0.87% |
| T | Communication Services | 91.4 | 0.87% |
| NOW | Information Technology | 91.4 | 1.07% |
| CIEN | Information Technology | 91.4 | 1.07% |
| FTNT | Information Technology | 91.4 | 1.07% |
| SBAC | Real Estate | 91.3 | 0.85% |
| FDX | Industrials | 90.9 | 0.96% |
| OTIS | Industrials | 90.9 | 0.96% |
| UNP | Industrials | 90.9 | 0.96% |
| ECL | Materials | 90.7 | 0.86% |
| LVS | Consumer Discretionary | 90.5 | 0.93% |
| DECK | Consumer Discretionary | 90.5 | 0.93% |
| CMG | Consumer Discretionary | 90.5 | 0.93% |
| TT | Industrials | 90.4 | 0.96% |
| CDNS | Information Technology | 90.3 | 1.07% |
| HPQ | Information Technology | 90.2 | 1.07% |
| EL | Consumer Staples | 89.7 | 0.94% |
| CBRE | Real Estate | 89.7 | 0.85% |
| MA | Financials | 89.6 | 0.89% |
| TPR | Consumer Discretionary | 89.5 | 0.93% |
| XYL | Industrials | 89.4 | 0.96% |
| MSCI | Financials | 89.3 | 0.89% |
| IR | Industrials | 89.3 | 0.96% |
| BXP | Real Estate | 89.3 | 0.85% |
| ESS | Real Estate | 89.3 | 0.85% |
| WDC | Information Technology | 89.3 | 1.07% |
| ABBV | Health Care | 89.2 | 0.92% |
| LH | Health Care | 89.0 | 0.92% |
| ETN | Industrials | 88.5 | 0.96% |
| META | Communication Services | 88.3 | 0.87% |
| MRNA | Health Care | 88.0 | 0.92% |
| FRT | Real Estate | 87.8 | 0.85% |
| TECH | Health Care | 87.6 | 0.92% |
| VEEV | Health Care | 87.6 | 0.92% |
| CSGP | Real Estate | 87.6 | 0.85% |
| EBAY | Consumer Discretionary | 87.3 | 0.93% |
| MDT | Health Care | 87.1 | 0.92% |
| MO | Consumer Staples | 87.0 | 0.94% |
| TMO | Health Care | 87.0 | 0.92% |
| CSX | Industrials | 86.6 | 0.96% |
| NSC | Industrials | 86.6 | 0.96% |
| BALL | Materials | 86.6 | 0.86% |
| CARR | Industrials | 86.4 | 0.96% |
| BMY | Health Care | 86.4 | 0.92% |
| BBY | Consumer Discretionary | 86.3 | 0.93% |
| EMR | Industrials | 85.2 | 0.96% |
| KHC | Consumer Staples | 85.0 | 0.94% |
| AVY | Materials | 85.0 | 0.86% |
| AMCR | Materials | 84.8 | 0.86% |
| CHD | Consumer Staples | 84.4 | 0.94% |
| CLX | Consumer Staples | 83.3 | 0.94% |
| HSY | Consumer Staples | 83.1 | 0.94% |
| XYZ | Financials | 82.9 | 0.89% |
| EFX | Industrials | 82.8 | 0.96% |
| PH | Industrials | 82.7 | 0.96% |
| NEM | Materials | 82.1 | 0.86% |
| UAL | Industrials | 81.8 | 0.96% |
| BR | Industrials | 81.5 | 0.96% |
| AON | Financials | 78.3 | 0.89% |
| PPG | Materials | 75.3 | 0.86% |
| NRG | Utilities | 74.5 | 0.88% |
| PPL | Utilities | 71.6 | 0.88% |
| NTRS | Financials | 66.1 | 0.89% |
| MET | Financials | 66.1 | 0.89% |
| VST | Utilities | 64.3 | 0.88% |
| CEG | Utilities | 61.8 | 0.88% |
| PEG | Utilities | 60.1 | 0.88% |
| AWK | Utilities | 59.5 | 0.88% |
| PCG | Utilities | 59.5 | 0.88% |
| EOG | Energy | 57.9 | 0.83% |
| BAC | Financials | 56.6 | 0.89% |
| AJG | Financials | 56.6 | 0.89% |
| MS | Financials | 56.6 | 0.89% |
| BLK | Financials | 56.6 | 0.89% |
| WMB | Energy | 54.9 | 0.83% |
| SLB | Energy | 53.7 | 0.83% |
| FANG | Energy | 53.7 | 0.83% |
| MPC | Energy | 53.3 | 0.83% |
Short leg (99)
| SMCI | Information Technology | 26.3 | 0.99% |
| ADM | Consumer Staples | 26.5 | 0.94% |
| AXON | Industrials | 29.0 | 0.96% |
| AES | Utilities | 29.7 | 1.03% |
| CPAY | Financials | 33.6 | 0.94% |
| MPWR | Information Technology | 34.5 | 0.99% |
| PODD | Health Care | 35.2 | 1.08% |
| WM | Industrials | 36.1 | 0.96% |
| UHS | Health Care | 36.3 | 1.08% |
| MRK | Health Care | 36.6 | 1.08% |
| PLTR | Information Technology | 36.7 | 0.99% |
| KMI | Energy | 37.6 | 1.04% |
| COHR | Information Technology | 38.5 | 0.99% |
| FDXF | Industrials | 38.6 | 0.96% |
| ETR | Utilities | 38.8 | 1.03% |
| CMS | Utilities | 38.9 | 1.03% |
| LNT | Utilities | 39.2 | 1.03% |
| XOM | Energy | 39.4 | 1.04% |
| PKG | Materials | 39.9 | 1.03% |
| SO | Utilities | 40.0 | 1.03% |
| TSCO | Consumer Discretionary | 40.4 | 1.04% |
| CAT | Industrials | 40.6 | 0.96% |
| JBL | Information Technology | 40.6 | 0.99% |
| INTC | Information Technology | 40.8 | 0.99% |
| TDY | Information Technology | 41.0 | 0.99% |
| ROL | Industrials | 41.5 | 0.96% |
| CVNA | Consumer Discretionary | 41.5 | 1.04% |
| TDG | Industrials | 41.7 | 0.96% |
| FERG | Industrials | 41.8 | 0.96% |
| DASH | Consumer Discretionary | 41.9 | 1.04% |
| IDXX | Health Care | 42.0 | 1.08% |
| EXR | Real Estate | 42.1 | 0.85% |
| CASY | Consumer Staples | 42.6 | 0.94% |
| PNW | Utilities | 42.6 | 1.03% |
| IBKR | Financials | 43.0 | 0.94% |
| HCA | Health Care | 43.4 | 1.08% |
| LUV | Industrials | 43.5 | 0.96% |
| NDSN | Industrials | 43.5 | 0.96% |
| BEN | Financials | 43.6 | 0.94% |
| ERIE | Financials | 43.6 | 0.94% |
| CBOE | Financials | 43.6 | 0.94% |
| COIN | Financials | 43.6 | 0.94% |
| L | Financials | 43.6 | 0.94% |
| SYF | Financials | 43.6 | 0.94% |
| MTD | Health Care | 43.6 | 1.08% |
| CPT | Real Estate | 43.8 | 0.85% |
| APD | Materials | 43.9 | 1.03% |
| GEN | Information Technology | 43.9 | 0.99% |
| FICO | Information Technology | 43.9 | 0.99% |
| DDOG | Information Technology | 43.9 | 0.99% |
| MOS | Materials | 43.9 | 1.03% |
| PSKY | Communication Services | 43.9 | 2.19% |
| ECHO | Communication Services | 43.9 | 2.19% |
| EME | Industrials | 44.0 | 0.96% |
| ABT | Health Care | 44.0 | 1.08% |
| VRTX | Health Care | 44.0 | 1.08% |
| Q | Information Technology | 44.0 | 0.99% |
| VMC | Materials | 44.3 | 1.03% |
| HONA | Industrials | 44.4 | 0.96% |
| PNR | Industrials | 44.4 | 0.96% |
| HUBB | Industrials | 44.6 | 0.96% |
| AOS | Industrials | 44.7 | 0.96% |
| HOOD | Financials | 44.7 | 0.94% |
| AMP | Financials | 44.7 | 0.94% |
| SNA | Industrials | 44.8 | 0.96% |
| ODFL | Industrials | 44.8 | 0.96% |
| PAYX | Industrials | 44.8 | 0.96% |
| APO | Financials | 44.8 | 0.94% |
| USB | Financials | 44.8 | 0.94% |
| SCHW | Financials | 44.8 | 0.94% |
| RJF | Financials | 44.8 | 0.94% |
| JKHY | Financials | 44.8 | 0.94% |
| BX | Financials | 44.8 | 0.94% |
| ON | Information Technology | 44.9 | 0.99% |
| DXCM | Health Care | 45.0 | 1.08% |
| DVN | Energy | 45.2 | 1.04% |
| INCY | Health Care | 45.3 | 1.08% |
| ARE | Real Estate | 45.4 | 0.85% |
| DG | Consumer Staples | 45.5 | 0.94% |
| COST | Consumer Staples | 45.5 | 0.94% |
| APP | Information Technology | 45.7 | 0.99% |
| RVTY | Health Care | 46.1 | 1.08% |
| HAL | Energy | 46.3 | 1.04% |
| CCI | Real Estate | 46.4 | 0.85% |
| PSA | Real Estate | 46.9 | 0.85% |
| UDR | Real Estate | 46.9 | 0.85% |
| INVH | Real Estate | 46.9 | 0.85% |
| TYL | Information Technology | 47.0 | 0.99% |
| APH | Information Technology | 47.1 | 0.99% |
| ORLY | Consumer Discretionary | 47.1 | 1.04% |
| DPZ | Consumer Discretionary | 47.1 | 1.04% |
| TJX | Consumer Discretionary | 47.1 | 1.04% |
| NCLH | Consumer Discretionary | 47.1 | 1.04% |
| GPC | Consumer Discretionary | 47.8 | 1.04% |
| LEN | Consumer Discretionary | 47.8 | 1.04% |
| NUE | Materials | 48.1 | 1.03% |
| STZ | Consumer Staples | 48.9 | 0.94% |
| MNST | Consumer Staples | 48.9 | 0.94% |
| BG | Consumer Staples | 48.9 | 0.94% |
VESGMNX is a non-investable research index published by Verde Advisors LLC for informational and research purposes only. Not investment advice. Not a financial product. Index levels are gross: they do not deduct trading costs, financing, or the cost of borrowing shares to sell short, and a portfolio attempting to follow the index would earn less. Beta neutrality is an estimate based on historical betas; realized market exposure will differ from zero. The live record begins October 8, 2026. Verde Advisors does not publish backtested or hypothetical performance for this index, and no return is shown for any period before inception.