How is the DJIM Turkey Index composed?
Dow Jones Islamic Market Turkey Index, which is tracked by BMD Securities, Inc. Dow Jones DJIM Turkey ETF is an index launched by Dow Jones. At present, it includes stocks that are traded on the Istanbul Stock Exchange. Dow Jones, as its other indexes, determines the companies that will be in the index by considering the floating market capital of the companies. Additionally, Dow Jones takes into account appropriateness of some financial ratios and operating fields of the companies based on Dow Jones Islamic Market criteria. The first step is to exclude from the index universe any industry group that represents an incompatible line of business. According to the criteria, also excluded are companies whose total debt divided by trailing 12-month average market capitalization is 33% or more, those whose cash plus interest-bearing securities divided by trailing 12-month average market capitalization is 33% or more, and those whose accounts receivables divided by total assets is 45% or more
