Markets don't like female leaders.

Big mistake.

Pink Chip indices measure the performance of women-led companies against global benchmarks. They prove women are better for business, whether markets like it or not.

Help us bring pink chip to every market.

TOP

SECTORS

i

All

SECTORS

i

#%of indexNameof sector
114%Finance
213%Health Technology
313%Technology Services
411%Producer Manufacturing
510%Electronic Technology
66%Consumer Services
76%Consumer Non-Durables
86%Energy Minerals
95%Commercial Services
104%Transportation
113%Health Services
122%Consumer Durables
132%Non-Energy Minerals
142%Utilities
152%Industrial Services
161%Process Industries

Top ten

Holdings

Ranked by index %, displayed with market cap size.

i

All

Companies

i

Holding

Ticker

Female lead

since

CEO

Name

% of Index

Index

Mkt Cap

(USD)

Gross Income

(1Y)

Rev Growth

(1Y)

Industry

Sector

01

Chart Industries Inc GTLS

June
2018

Jillian C. Evanko MBA

5.36%

$7,238,065,252

29.57%

18.33%

Producer Manufacturing

02

Intra-Cellular Therapies Inc ITCI

June
2002

Sharon Mates PhD

4.29%

$8,836,525,549

91.27%

39.00%

Health Technology

03

Jackson Financial Inc - Ordinary Shares - Class A JXN

Feb
2021

Laura Prieskorn

4.25%

$7,346,291,639

N/A%

-18.61%

Finance

04

Woodside Energy Group Ltd - ADR WDS

Aug
2021

Meg O’Neill

3.80%

$30,342,237,294.903

41.23%

-16.71%

Energy Minerals

05

Blackstone Mortgage Trust Inc - Ordinary Shares - Class A BXMT

June
2021

Katharine A. Keenan

3.73%

$3,226,241,055

94.89%

-17.20%

Finance

06

Alnylam Pharmaceuticals Inc ALNY

Jan
2022

Yvonne L. Greenstreet MD

3.53%

$30,216,358,631

82.85%

-33.26%

Health Technology

07

Halozyme Therapeutics Inc. HALO

Jan
2014

Helen I. Torley MD

3.00%

$5,701,041,927

76.84%

34.28%

Health Technology

08

Upwork Inc UPWK

Jan
2020

Hayden Brown

2.72%

$1,995,650,284

77.60%

10.27%

Commercial Services

09

Trip.com Group Ltd - ADR TCOM

Nov
2016

Jane Sun

2.59%

$42,318,824,310.941

82.36%

16.80%

Consumer Services

10

HubSpot Inc HUBS

Sept
2021

Yamini Rangan MBA

2.56%

$35,234,633,792

85.17%

20.12%

Technology Services

11

Bellring Brands Inc BRBR

Oct
2019

Darcy Horn Davenport MBA

2.39%

$9,468,301,936

33.68%

19.76%

Consumer Non-Durables

12

Workiva Inc - Ordinary Shares - Class A WK

Apr
2023

Julie Iskow

2.26%

$4,654,896,822

76.47%

17.35%

Technology Services

13

General Motors Company GM

Jan
2014

Mary Barra

2.18%

$60,598,726,598

13.12%

10.48%

Consumer Durables

14

Reliance Steel & Aluminum Co. RS

Jan
2023

Karla Renee Lewis CPA

2.17%

$16,724,785,724

27.44%

-5.59%

Non-Energy Minerals

15

Parker-Hannifin Corp. PH

Jan
2023

Jennifer A. Parmentier

2.15%

$88,786,203,996

36.94%

1.17%

Electronic Technology

16

Citigroup Inc C

Mar
2021

Jane Fraser

2.14%

$129,740,760,371

N/A%

5.65%

Finance

17

Trinity Industries, Inc. TRN

Feb
2020

E. Jean Savage

2.12%

$3,120,552,228

21.07%

-2.74%

Producer Manufacturing

18

Sunrun Inc RUN

Aug
2021

Mary G. Powell

2.10%

$2,178,335,298

15.00%

-4.62%

Electronic Technology

19

Accenture plc - Ordinary Shares - Class A ACN

Sept
2019

Julie Spellman Sweet

2.07%

$221,167,665,602

32.65%

1.22%

Technology Services

20

nVent Electric plc NVT

May
2018

Beth A. Wozniak MBA

2.06%

$12,445,239,948

39.78%

-8.94%

Electronic Technology

21

Pagerduty Inc PD

July
2016

Jennifer Tejada

2.03%

$1,739,256,611

82.68%

7.73%

Technology Services

22

Southwest Gas Holdings Inc SWX

May
2022

Karen S. Haller

2.01%

$5,675,641,588

7.76%

-7.72%

Utilities

23

Tootsie Roll Industries, Inc. TR

Jan
2015

Ellen R. Gordon

1.97%

$2,403,625,443

34.31%

-9.57%

Consumer Non-Durables

24

MillerKnoll Inc MLKN

Jul
2021

Andi Owen

1.95%

$1,624,006,730

39.04%

-6.12%

Producer Manufacturing

25

Federal Signal Corp. FSS

Jan
2016

Jennifer L Sherman

1.95%

$5,582,072,292

28.81%

6.23%

Producer Manufacturing

26

Arista Networks Inc ANET

Oct
2008

Jayshree V. Ullal

1.93%

$118,952,796,661

64.15%

19.97%

Electronic Technology

27

Progressive Corp. PGR

July
2016

Susan Patricia Griffith

1.93%

$149,094,887,612

N/A%

26.74%

Finance

28

Equity Lifestyle Properties Inc. ELS

Feb
2013

Marguerite M. Nader

1.93%

$13,535,838,370

35.70%

-1.19%

Finance

29

Occidental Petroleum Corp. OXY

May
2016

Vicki A. Hollub

1.92%

$47,386,325,470

36.70%

-2.54%

Energy Minerals

30

Integral Ad Science Holding Corp IAS

Jan
2019

Lisa Utzschneider

1.89%

$1,730,813,707

67.34%

10.97%

Technology Services

31

ArcBest Corp ARCB

Jan
2010

Judy R. McReynolds CPA

1.89%

$2,520,366,892

8.66%

-5.78%

Transportation

32

Vertex Pharmaceuticals, Inc. VRTX

April
2020

Reshma Kewalramani MD

1.89%

$115,375,702,808

85.85%

11.86%

Health Technology

33

Vail Resorts Inc. MTN

Nov
2021

Kirsten A. Lynch

1.88%

$6,554,057,854

33.02%

-0.14%

Consumer Services

34

New York Times Co. - Ordinary Shares - Class A NYT

Sept
2020

Meredith Kopit Levien

1.86%

$8,502,982,717

44.94%

6.99%

Consumer Services

35

Parsons Corp PSN

Jul
2018

Carey Smith

1.86%

$10,026,454,794

19.90%

27.60%

Technology Services

36

Hershey Company HSY

Mar
2017

Michele G. Buck MBA

1.73%

$25,151,469,757

40.23%

-1.40%

Consumer Non-Durables

37

Advanced Micro Devices Inc. AMD

Oct
2014

Lisa T. Su PhD

1.72%

$226,203,118,739

44.98%

17.57%

Electronic Technology

38

WEX Inc WEX

May
2013

Melissa D. Smith CPA

1.69%

$7,096,547,701

56.96%

2.16%

Commercial Services

39

Exponent Inc. EXPO

May
2018

Catherine Ford Corrigan

1.67%

$4,816,024,242

22.86%

2.21%

Industrial Services

40

International Seaways Inc INSW

Dec
2016

Lois K. Zabrocky

1.66%

$2,065,607,458

45.24%

-6.83%

Transportation

41

Centene Corp. CNC

Jan
2022

Sarah McGinty London MBA

1.52%

$29,186,245,779

N/A%

10.46%

Health Services

42

Elevance Health Inc ELV

Jan
2017

Gail Koziara Boudreaux MBA

1.44%

$91,423,972,872

N/A%

5.36%

Health Services

43

Celanese Corp - Ordinary Shares - Series A CE

May
2019

Lori J. Ryerkerk

1.13%

$7,892,341,785

21.53%

-2.75%

Process Industries

44

AMN Healthcare Services Inc. AMN

Nov
2021

Cary Grace MBA

1.06%

$953,746,728

25.01%

-19.44%

Commercial Services

index

Criteria

i

01

A Female ceo

Companies must have a female¹ CEO.

Why?

Women are hugely underrepresented at the CEO position, making up just 6% of CEOs globally. The decisions that these leaders make have a huge impact on a business’ performance while they are at the helm.

02

>$2BN MARKET CAP, US LISTED

Companies must be listed on a US stock exchange and have a minimum market cap of US$ 2 billion.

Why?

For now, Pink Chip focuses on mid and large-cap companies listed on US exchanges. This is an intentional choice designed to constrain the universe of the index.

03

>8% CAGR OVER 3 YEARS

Companies must have demonstrated revenue growth of at least 8% over the last 3 years.

Why?

Think of this as a quality control measure. By only including companies that have have demonstrated sustained, impactful growth over a 3 year-window, we can control for the glass cliff effect².

1 Please note that when we speak of “Female”, we are inclusive of all female-identifying people.

2 Research has shown that women are more likely than men to be appointed to boards or positions of leadership in companies experiencing consistently bad performance. This phenomenon is called the glass cliff, and it means women are more likely to be ‘caretaker CEOs’ than their male counterparts. Source: Ryan, M. And Haslam, S. (2005).

Index

Methodology

i

PINK CHIP IS A WEIGHTED INDEX.

Of the companies that meet our criteria, we only include those that are in the top 50th percentile based on 3-year revenue growth rates. Of those companies, we overweight the companies in the top 20th percentile.

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FAQ

Why “Pink Chip”?

In the world of finance and trading, investors refer to stocks as "chips" and categorise them based on colour. Blue chips, for example, are stocks of companies that are considered as large, well-known and highly valued companies, while "green chips" refer to companies working in green energy, sustainability or other activities associated with environmentalism.

Pink Chip represents an entirely new financial category in which “pink” refers to the power that women bring to the businesses that they lead.

Are women better for business?

Are markets biased against women?

Can I invest in Pink Chip?

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