How it Works

​Through a partnership formed in 2019 with Nasdaq, OCIO Analytics has delivered the industry’s first suite of OCIO indices. The Alpha Nasdaq OCIO Indices aim to create transparency in the OCIO industry and ​give investors and OCIO firms the ability to objectively measure performance against peers.

Alpha Nasdaq OCIO Indices at 12/31/24

INDEX MRQ 1 YR 3 YR 5 YR 7 YR 10 YR
Broad Market Index -1.42 9.06 1.38 5.57 5.70 6.02
Defined Benefit Pension Plans Index -3.36 5.64 -1.06 3.77 4.50 5.23
Endowments & Foundations Index -0.37 10.92 3.04 6.93 6.66 6.70
Healthcare Operating Reserves Index -1.59 8.90 2.05 5.62 5.56 ---
Insurance Reserves Index -1.03 10.06 2.22 --- --- ---
Aggressive Asset Allocation Index -0.97 11.60 3.28 8.17 7.79 ---
Moderately Aggressive Asset Allocation Index -0.82 10.94 2.98 7.33 7.12 7.12
Moderate Asset Allocation Index -0.88 10.19 2.15 5.99 5.95 6.26
Moderately Conservative Asset Allocation Index -3.06 5.29 -1.29 2.83 3.67 4.46
Conservative Asset Allocation Index -4.05 1.44 -3.29 0.41 1.89 2.87
MSCI ACWI -0.89 18.02 5.94 10.58 9.74 9.79
S&P 500 2.41 25.02 8.94 14.53 13.83 13.10
Bloomberg Barclays US Aggregate -3.06 1.25 -2.41 -0.33 0.97 1.35
60% MSCI ACWI / 40% Bloomberg Barclays US Aggregate -1.76 11.07 2.68 6.36 6.42 6.57
60% S&P 500/40% Bloomberg Barclays US Aggregate 0.21 15.04 4.46 8.67 8.83 8.52
— Indicates there are too few observations to calculate a result

Data Source

The Alpha Nasdaq OCIO indices are based on anonymized account-level return streams, asset allocation, and metadata reported directly by OCIO firms. The indices use this anonymously reported data to construct a family of indices that represent the broad OCIO market along with variations of the OCIO market to more appropriately reflect the nuances across sub-categories, such as plan type and risk profile.

Index Constituents

The Alpha Nasdaq OCIO Broad Market Index includes all account-level returns streams reported by OCIOs. The Plan type indices are based on the associated plan type for each account as reported by each OCIO. The risk based indices are based on the asset allocation for each account as reported by each OCIO. Below are the number of observations included in each of the Alpha Nasdaq OCIO Indices as of 12/31/2024. Unreported periods have too few observations to calculate as a result.

INDEX MRQ 1 YR 3 YR 5 YR 7 YR 10 YR
Broad Market Index 1,372 1,167 657 352 271 129
Defined Benefit Pension Plans Index 422 363 205 98 71 36
Endowments & Foundations Index 760 638 344 199 159 71
Healthcare Operating Reserves Index 47 39 27 18 15 ---
Insurance Reserves Index 67 43 30 --- --- ---
Aggressive Asset Allocation Index 136 109 45 30 25 ---
Moderately Aggressive Asset Allocation Index 446 383 191 109 83 39
Moderate Asset Allocation Index 504 420 217 109 88 47
Moderately Conservative Asset Allocation Index 154 136 69 40 23 10
Conservative Asset Allocation Index 131 119 50 24 20 10

Calculation Methodology

Each of the Alpha Nasdaq OCIO indices are calculated using the average net of fees return, as reported by each OCIO, for all the constituents within a given index. All constituents equally weighted in each respective index.  A minimum of 15 accounts are required to create a sub-category of the Alpha Nasdaq OCIO Broad Market Index.

​Index Inclusion

To be included in any of the Alpha Nasdaq OCIO Indices, account size must be $50 million or greater, must be fully discretionary, represent a US-based client, and the performance must be live client performance net of all fees.

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