The ABA NASDAQ Community Bank Index (ABAQ), the most broadly representative stock index for community banks, celebrates its 10-year anniversary in December. The index, which is composed of 377 banks with a market capitalization of approximately $180 billion, was created on December 2, 2003, with a base value of 250.
The market-cap weighted index includes NASDAQ-listed banks and thrifts or their holding companies with ICB code of 8300 (or that the American Bankers Association, ABA, determines should be classified as such).
The First Trust NASDAQ ABA Community Bank Index Fund (QABA) is an exchange-traded fund based on the ABAQ.
The ABAQ will celebrate the anniversary on December 4th at a symposium looking at industry growth in 2014, followed by the NASDAQ Closing Bell.