MXX Index

The S&P/BMV IPC Index (or MXX Index) is one of the key indices used for measuring the performance of companies listed on the Mexican Stock Exchange (Bolsa Mexicana de Valores). The ‘IPC’ in the index’s title stands for Índice de Precios y Cotizaciones, and it tracks the performance of 35 of the most valuable stocks traded on the Bolsa Mexicana de Valores.

On this page, you’ll find a quick history of the S&P/BMV IPC index, an overview of how the stocks it tracks are selected, and information on how you can invest in the index.

The S&P/BMV IPC Index’s base date is 30th October 1978, meaning it has been tracking the performance of the Mexican economy for more than four decades. The weighting of the stocks tracked by the MXX is determined by each company’s market capitalisation, and as of February 2009 the index has included the ‘A shares’ of the Bolsa Mexicana Valores itself.

The MXX’s all-time high of 51,293.07 was achieved on August 3rd 2017, with the index then declining over the next few years into the mid-40,000s before being hit hard as the coronavirus pandemic spread across the world in February 2020.

The MXX index is comprised in order to give a representative group of stocks which can be used as an indicator of the Mexican economy. It contains 35 stocks, and each company must have a market value of at least $100 million dollars to be tracked by the index. The MXX is then weighted according to market capitalisation, with each company not being allowed a weighting exceeding 10% of the index. The S&P/BMV IPC index is revised twice a year in order to ensure that these conditions are being kept to.