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1Clear out junk files and repair common Windows errors2Scan for outdated or missing drivers - takes under a minute3Repair Windows errors before they cause bigger problemsThe S&P/BYMA Construction Index tracks eligible companies in five construction-related GICS sub-industries that are already included in the S&P/BYMA Argentina General Index. It is weighted by float-adjusted market capitalization and calculated in Argentine pesos (ARS). S&P Dow Jones Indices reported six constituents and an 82.5% weight for the largest constituent in its September 2026 snapshot, so it is a concentrated sector benchmark—not a stand-in for Argentina’s entire stock market.
What the S&P/BYMA Construction Index measures
The index measures the performance of a construction-related subset of the S&P/BYMA Argentina General Index. Inclusion is not based simply on whether a company appears to operate in construction: it must first belong to the underlying General Index and then fall into one of the sector index’s eligible GICS sub-industries. The BYMA market-data page describes the index as covering shares in construction materials and products, construction and engineering, homebuilding, and related sectors.
The underlying General Index covers eligible domestic stocks listed on BYMA and applies a trading-frequency screen. The Construction Index therefore does not claim to include every Argentine construction company, or even every listed company with construction-related operations. See the S&P/BYMA methodology and the S&P/BYMA Argentina General Index page for the underlying rules.
Eligible GICS sub-industries
- Construction Materials
- Forest Products
- Building Products
- Construction & Engineering
- Homebuilding
Because eligibility follows GICS classifications, a company’s reclassification can affect which Domestic-Focus Sector index it belongs to. Index maintenance, corporate-action treatment, and constituent changes follow the underlying General Index rules.
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How many constituents are in the index?
S&P DJI’s September 2026 page snapshot reported six constituents. The same snapshot reported that the largest constituent represented 82.5% of the index and that the top ten represented 100%. Since there were only six constituents in that snapshot, the top-ten figure means all six members together—not ten separate holdings. These are snapshot values, not a permanent constituent count or weight; consult the current official index profile and constituent data before relying on a present-day holdings list.
The exact six company names and their individual weights are not stated in the cited official page text available for this article. Naming likely companies based on sector eligibility would not establish that they are current constituents. Constituents and weights can change as the underlying index is maintained and rebalanced.
How the index is weighted and rebalanced
Constituents are weighted by float-adjusted market capitalization. In practical terms, companies with larger eligible market value available to public investors generally have greater influence on the index. The 82.5% largest-constituent weight reported for September 2026 illustrates that a small number of members can dominate the benchmark’s movement.
The official profile lists annual rebalancing in March. Index maintenance also follows the underlying General Index, including relevant adjustments and corporate actions; annual rebalancing does not mean that changes can occur only once a year.
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Is it priced in pesos or dollars?
The index’s calculation currency is Argentine pesos (ARS), according to the S&P DJI profile. The reviewed official information does not establish a USD-denominated version. A dollar-based investor’s result may differ from the ARS index result because converting returns introduces exchange-rate effects, in addition to any differences in fees, taxes, or investable products.
Price return and total return are different series
Before comparing performance, check both the currency and the return convention. The methodology distinguishes these series:
- Price return: does not adjust for regular cash dividends. The listed Bloomberg identifier is SPBYCAP.
- Gross total return: reinvests regular cash dividends at the ex-date closing price and does not deduct withholding taxes. The listed Bloomberg identifier is SPBYCAT.
A price-return series and a gross-total-return series are not interchangeable. The gross total-return convention is also not the same as the net return an investor necessarily receives after taxes, product costs, or other expenses. These definitions are set out in the methodology.
When does the index history begin?
The index launched on October 7, 2019, and its first value is dated January 11, 2019. S&P DJI states that data before the launch date are hypothetical back-tested results, not live index performance. A chart that begins before October 7, 2019 therefore includes simulated history; it should not be read as a record of an investable index operating at the time.
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What the index can—and cannot—tell you
The Construction Index can serve as a benchmark for the performance of its eligible, GICS-defined sector subset. Its narrow scope and high reported single-constituent weight limit what it can represent:
- Not the whole Argentine market: it selects construction-related sub-industries from the broader General Index rather than covering all eligible domestic stocks.
- Not a diversified construction-company census: eligibility depends on the underlying index screen and GICS classification, and the reported September 2026 snapshot had just six members.
- Not an investor’s realized return: it is an ARS index series, and the outcome for an investor depends on the specific instrument, currency conversion, costs, and taxes.
- Not one universal performance number: price-return and gross-total-return series treat dividends differently, and pre-launch history is back-tested.
For comparisons with another benchmark, match the underlying universe, sector rules, currency, return type, rebalancing approach, and live-versus-back-tested history. The S&P/BYMA Argentina General Index is broader because it covers eligible domestic stocks across the market rather than only the selected construction-related GICS groups.
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