<p><img src="https://imageproxy.pbkrs.com/https://images.unsplash.com/photo-1569025690938-a00729c9e1f9/query-YXV0bz1mb3JtYXQmZml0PWNyb3AmaXhpZD1leUpoY0hCZmFXUWlPakV5TURkOSZpeGxpYj1yYi0xLjIuMSZxPTgwJnc9MTAwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.unsplash.com/photo-1569025690938-a00729c9e1f9/query-YXV0bz1mb3JtYXQmZml0PWNyb3AmaXhpZD1leUpoY0hCZmFXUWlPakV5TURkOSZpeGxpYj1yYi0xLjIuMSZxPTgwJnc9MTAwMA"/></p>
<p><em>圖片來源：Unsplash</em></p>
<p>在長期的市場週期中，以色列的中型股通常表現出強勁的增長，主要受益於其對國內經濟趨勢的更高敏感性。儘管如此，中型公司在許多投資組合中仍然代表性不足。標準普爾以色列 70 中型股指數填補了這一空白，系統性地衡量中型股板塊，並通過透明的規則基礎框架提供對已建立的以色列中型公司的多樣化視角。</p>
<h3><strong>以規則為基礎的方法來分析以色列的中型股板塊</strong></h3>
<p>標準普爾以色列 70 中型股指數源自更廣泛的標準普爾以色列 100 指數，該指數包括在以色列上市和註冊的 100 只最大和最具流動性的股票。成分股的選擇基於浮動調整市值（FMC）和流動性的綜合排名，確保了投資的可行性和規模的相關性。</p>
<p>該指數的目標是排名在前 30 只大盤股之下的 70 只中型公司，提供對以色列動態中型股板塊的聚焦視角。它是基於 FMC 加權的，並對個別股票和行業設定上限，以幫助管理集中風險。</p>
<p>該指數每季度重新平衡，採用透明的規則基礎方法，提供了一種有紀律的方法來跟蹤以色列股市中的中型股表現。</p>
<p><em>(點擊圖片放大)</em></p>
<p><img src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-1-Index-Methodology-Summary.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-1-Index-Methodology-Summary.png"/></p>
<h3><strong>指數解析</strong></h3>
<p>標準普爾以色列 70 中型股指數的一個關鍵特徵是其多樣化的行業構成，反映了以色列中型經濟的結構和多樣性，並提供了超越信息技術的更廣泛視角，相較於大盤股板塊。截至 2025 年 12 月 31 日，房地產佔比最大，為 24.18%，受持續的住房需求和人口增長驅動（見圖表 2）。工業佔比 20.25%，突顯了該行業在製造和基礎設施方面的實力。信息技術佔 11.23%，而能源（10.68%）、非必需消費品（7.08%）和必需消費品（4.86%）在國內消費和工業能源需求中也佔有重要份額。金融（6.97%）、通信服務（4.20%）和材料（2.88%）的較小配置展示了全面的行業覆蓋。這種多樣化的結構為以色列的中型公司提供了廣泛的視角，同時保持了平衡的行業特徵。</p>
<p><em>(點擊圖片放大)</em></p>
<p><img src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-2-GICS-Sector-Composition.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-2-GICS-Sector-Composition.png"/></p>
<h3><strong>相對估值優勢</strong></h3>
<p>標準普爾以色列 70 中型股指數的估值指標相較於大盤股板塊表現出相對較好的水平，突顯了中型股在以色列的潛在吸引力。截至 2025 年 12 月 31 日，該指數的市盈率為 10.5，低於標準普爾以色列 30 大盤股指數的 13.5，並且指示的股息收益率為 2.5%，高於標準普爾以色列 30 大盤股指數的 1.7%（見圖表 3）。這種適度的估值與強勁的收入潛力的結合，突顯了以色列中型股板塊在更廣泛市場中的獨特投資特徵。</p>
<p><em>(點擊圖片放大)</em></p>
<p><img src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-3-Valuation-Multiples.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-3-Valuation-Multiples.png"/></p>
<h3><strong>表現回顧</strong></h3>
<p>在 2025 年，標準普爾以色列 70 中型股指數在回測期間表現出最強勁的表現，總回報率在以色列新謝克爾（ILS）計價下接近 49.32%，未扣税。卓越的結果突顯了以色列中型股板塊的韌性和增長潛力。</p>
<p><em>(點擊圖片放大)</em></p>
<p><img src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-4-Calendar-Year-Historical-Performance.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-4-Calendar-Year-Historical-Performance.png"/></p>
<p>除了年度數據外，標準普爾以色列 70 中型股指數還顯示出強勁的長期表現。在過去十年中，五年滾動表現的年化平均為 13.97%，最近五年期達到 17.87%。這些結果突顯了以色列中型股板塊在有紀律的規則基礎框架內的一致性和增長潛力。</p>
<p><em>(點擊圖片放大)</em></p>
<p><img src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-5-One-Month-Rolling-Five-Year-Annualized-Performance.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-5-One-Month-Rolling-Five-Year-Annualized-Performance.png"/></p>
<h3><strong>結論</strong></h3>
<p>標準普爾以色列 70 中型股指數的行業構成與以色列大盤股板塊不同，旨在提供對房地產、工業、信息技術和中型經濟其他關鍵領域的多樣化視角。該指數在回測期間持續表現強勁，同時保持適度的估值，通常高於大盤股。其透明的規則基礎方法尋求在有紀律的框架內平衡代表以色列的中型公司。</p>
<hr/>
<p><em>更多來自此作者的文章：</em></p>
<p>年度風格指數再平衡內部：方法論、過程和結果</p>
<p>2026 年是選股者的年嗎？</p>
<p>您的標準普爾精選行業指數 2025 年總結</p>

ISRL

<p>S&P 以色列 70 中型股指數突顯了以色列中型股的增長潛力，這些股票在投資組合中常常被忽視。該指數源自 S&P 以色列 100 指數，專注於排名前 30 大市值公司之下的 70 家中型公司，提供了房地產和工業等行業的多元化視角。截至 2025 年 12 月 31 日，該指數的估值指標優於大市值公司，年總回報率為 49.32%。其嚴謹的規則基礎方法確保了平衡的代表性和強勁的長期表現</p>

<p><img src="https://imageproxy.pbkrs.com/https://images.unsplash.com/photo-1569025690938-a00729c9e1f9/query-YXV0bz1mb3JtYXQmZml0PWNyb3AmaXhpZD1leUpoY0hCZmFXUWlPakV5TURkOSZpeGxpYj1yYi0xLjIuMSZxPTgwJnc9MTAwMA" alt="" original-src="https://images.unsplash.com/photo-1569025690938-a00729c9e1f9?ixlib=rb-1.2.1&amp;ixid=eyJhcHBfaWQiOjEyMDd9&amp;auto=format&amp;fit=crop&amp;w=1000&amp;q=80"/></p>
<p><em>Image Source: Unsplash</em></p>
<div class="lb-trans"><p><em>圖片來源：Unsplash</em></p>
</div><p>Over extended market cycles, Israel’s mid-cap equities have often delivered strong growth, driven by their greater sensitivity to domestic economic trends. Despite this, mid-cap companies remain underrepresented in many portfolios. The S&amp;P Israel 70 MidCap Index addresses this gap, systematically measuring the mid-cap segment and offering a diversified look at established Israeli mid-cap companies through a transparent, rules-based framework.</p>
<div class="lb-trans"><p>在長期的市場週期中，以色列的中型股通常表現出強勁的增長，主要受益於其對國內經濟趨勢的更高敏感性。儘管如此，中型公司在許多投資組合中仍然代表性不足。標準普爾以色列 70 中型股指數填補了這一空白，系統性地衡量中型股板塊，並通過透明的規則基礎框架提供對已建立的以色列中型公司的多樣化視角。</p>
</div><h3><strong>A Rules-Based Approach to Israel’s Mid-Cap Segment</strong></h3>
<div class="lb-trans"><h3><strong>以規則為基礎的方法來分析以色列的中型股板塊</strong></h3>
</div><p>The S&amp;P Israel 70 MidCap Index is derived from the broader S&amp;P Israel 100 Index, which includes the 100 largest and most liquid stocks listed and domiciled in Israel. Constituents are selected based on a combined ranking of float-adjusted market capitalization (FMC) and liquidity, ensuring both investability and size relevance.</p>
<div class="lb-trans"><p>標準普爾以色列 70 中型股指數源自更廣泛的標準普爾以色列 100 指數，該指數包括在以色列上市和註冊的 100 只最大和最具流動性的股票。成分股的選擇基於浮動調整市值（FMC）和流動性的綜合排名，確保了投資的可行性和規模的相關性。</p>
</div><p>The index targets the 70 mid-cap companies ranked just below the top 30 large-cap companies, providing a focused view of Israel’s dynamic mid-cap segment. It is FMC weighted, with caps on individual stocks and sectors to help manage concentration risk.</p>
<div class="lb-trans"><p>該指數的目標是排名在前 30 只大盤股之下的 70 只中型公司，提供對以色列動態中型股板塊的聚焦視角。它是基於 FMC 加權的，並對個別股票和行業設定上限，以幫助管理集中風險。</p>
</div><p>Rebalanced quarterly using a transparent, rules-based methodology, the index provides a disciplined approach to tracking mid-cap performance within Israel’s equity market.</p>
<div class="lb-trans"><p>該指數每季度重新平衡，採用透明的規則基礎方法，提供了一種有紀律的方法來跟蹤以色列股市中的中型股表現。</p>
</div><p><em>(Click on image to enlarge)</em></p>
<div class="lb-trans"><p><em>(點擊圖片放大)</em></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-1-Index-Methodology-Summary.png" alt="" original-src="https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-1-Index-Methodology-Summary.png"/></p>
<h3><strong>Breaking Down the Index</strong></h3>
<div class="lb-trans"><h3><strong>指數解析</strong></h3>
</div><p>A key feature of the S&amp;P Israel 70 MidCap Index is its diversified sector composition, reflecting the structure and diversity of Israel’s mid-cap economy and offering a broader view beyond Information Technology, compared to the large-cap segment. As of Dec. 31, 2025, Real Estate represented the largest share at 24.18%, driven by sustained housing demand and population growth (see Exhibit 2). Industrials represented 20.25%, highlighting the sector’s strength in manufacturing and infrastructure. Information Technology accounted for 11.23%, while Energy (10.68%), Consumer Discretionary (7.08%) and Consumer Staples (4.86%) showed meaningful weight in domestic consumption and industrial energy demand. Smaller allocations to Financials (6.97%), Communication Services (4.20%) and Materials (2.88%) demonstrated comprehensive sector coverage. This diversified structure gives a wide view of Israel’s mid-cap companies while maintaining a balanced sector profile.</p>
<div class="lb-trans"><p>標準普爾以色列 70 中型股指數的一個關鍵特徵是其多樣化的行業構成，反映了以色列中型經濟的結構和多樣性，並提供了超越信息技術的更廣泛視角，相較於大盤股板塊。截至 2025 年 12 月 31 日，房地產佔比最大，為 24.18%，受持續的住房需求和人口增長驅動（見圖表 2）。工業佔比 20.25%，突顯了該行業在製造和基礎設施方面的實力。信息技術佔 11.23%，而能源（10.68%）、非必需消費品（7.08%）和必需消費品（4.86%）在國內消費和工業能源需求中也佔有重要份額。金融（6.97%）、通信服務（4.20%）和材料（2.88%）的較小配置展示了全面的行業覆蓋。這種多樣化的結構為以色列的中型公司提供了廣泛的視角，同時保持了平衡的行業特徵。</p>
</div><p><em>(Click on image to enlarge)</em></p>
<div class="lb-trans"><p><em>(點擊圖片放大)</em></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-2-GICS-Sector-Composition.png" alt="" original-src="https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-2-GICS-Sector-Composition.png"/></p>
<h3><strong>Relative Valuation Advantage</strong></h3>
<div class="lb-trans"><h3><strong>相對估值優勢</strong></h3>
</div><p>The S&amp;P Israel 70 MidCap Index has displayed relatively better valuation metrics compared with the large-cap segment, underscoring the possible appeal of mid caps in Israel. As of Dec. 31, 2025, the index had a price-to-cash-flow ratio of 10.5, lower than the S&amp;P Israel 30 LargeCap Index’s 13.5, and a higher indicated dividend yield of 2.5% versus 1.7% for the S&amp;P Israel 30 LargeCap Index (see Exhibit 3). This combination of moderate valuations and strong income potential highlights the distinctive investment profile of Israel’s mid-cap segment within the broader market.</p>
<div class="lb-trans"><p>標準普爾以色列 70 中型股指數的估值指標相較於大盤股板塊表現出相對較好的水平，突顯了中型股在以色列的潛在吸引力。截至 2025 年 12 月 31 日，該指數的市盈率為 10.5，低於標準普爾以色列 30 大盤股指數的 13.5，並且指示的股息收益率為 2.5%，高於標準普爾以色列 30 大盤股指數的 1.7%（見圖表 3）。這種適度的估值與強勁的收入潛力的結合，突顯了以色列中型股板塊在更廣泛市場中的獨特投資特徵。</p>
</div><p><em>(Click on image to enlarge)</em></p>
<div class="lb-trans"><p><em>(點擊圖片放大)</em></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-3-Valuation-Multiples.png" alt="" original-src="https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-3-Valuation-Multiples.png"/></p>
<h3><strong>Performance Review</strong></h3>
<div class="lb-trans"><h3><strong>表現回顧</strong></h3>
</div><p>In 2025, the S&amp;P Israel 70 MidCap Index delivered its strongest performance for the back-tested period, with a total return of nearly 49.32% in ILS terms, gross of tax. The exceptional results underscore the resilience and growth potential of Israel’s mid-cap segment.</p>
<div class="lb-trans"><p>在 2025 年，標準普爾以色列 70 中型股指數在回測期間表現出最強勁的表現，總回報率在以色列新謝克爾（ILS）計價下接近 49.32%，未扣税。卓越的結果突顯了以色列中型股板塊的韌性和增長潛力。</p>
</div><p><em>(Click on image to enlarge)</em></p>
<div class="lb-trans"><p><em>(點擊圖片放大)</em></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-4-Calendar-Year-Historical-Performance.png" alt="" original-src="https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-4-Calendar-Year-Historical-Performance.png"/></p>
<p>Beyond the calendar-year numbers, the S&amp;P Israel 70 MidCap Index has shown robust long-term performance. Over the past decade, the five-year rolling performance has averaged an annualized 13.97%, with the most recent five-year period reaching 17.87%. These results highlight the consistency and growth potential of Israel’s mid-cap segment within a disciplined, rules-based framework.</p>
<div class="lb-trans"><p>除了年度數據外，標準普爾以色列 70 中型股指數還顯示出強勁的長期表現。在過去十年中，五年滾動表現的年化平均為 13.97%，最近五年期達到 17.87%。這些結果突顯了以色列中型股板塊在有紀律的規則基礎框架內的一致性和增長潛力。</p>
</div><p><em>(Click on image to enlarge)</em></p>
<div class="lb-trans"><p><em>(點擊圖片放大)</em></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-5-One-Month-Rolling-Five-Year-Annualized-Performance.png" alt="" original-src="https://www.indexologyblog.com/wp-content/uploads/2026/01/Exhibit-5-One-Month-Rolling-Five-Year-Annualized-Performance.png"/></p>
<h3><strong>Conclusion</strong></h3>
<div class="lb-trans"><h3><strong>結論</strong></h3>
</div><p>Featuring a sector composition distinct from Israel’s large-cap segment, the S&amp;P Israel 70 MidCap Index aims to provide a diversified view across Real Estate, Industrials, Information Technology and other key areas of the mid-cap economy. The index has consistently delivered strong performance over the back-tested period, while maintaining moderate valuations, often higher than large caps. Its transparent, rules-based methodology seeks a balanced representation of Israel’s mid-cap companies within a disciplined framework.</p>
<div class="lb-trans"><p>標準普爾以色列 70 中型股指數的行業構成與以色列大盤股板塊不同，旨在提供對房地產、工業、信息技術和中型經濟其他關鍵領域的多樣化視角。該指數在回測期間持續表現強勁，同時保持適度的估值，通常高於大盤股。其透明的規則基礎方法尋求在有紀律的框架內平衡代表以色列的中型公司。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多來自此作者的文章：</em></p>
</div><p>Inside The Annual Style Indices Rebalance: Methodology, Process And Outcomes</p>
<div class="lb-trans"><p>年度風格指數再平衡內部：方法論、過程和結果</p>
</div><p>2026 Is The Year Of The Stock Picker?</p>
<div class="lb-trans"><p>2026 年是選股者的年嗎？</p>
</div><p>Your S&amp;P Select Industry Indices 2025 Wrapped</p>
<div class="lb-trans"><p>您的標準普爾精選行業指數 2025 年總結</p>
</div>

解析以色列中型股市場