Tortoise Index Solutions

Tortoise
Water IndexSM (TBLUE)


The Tortoise Water IndexSM is a float-adjusted, modified market capitalization-weighted index comprised of companies that are materially engaged in the water infrastructure or water management industries. Water infrastructure companies’ principal business is providing public water distribution or supporting water distribution infrastructure via equipment or engineering and construction. Water management companies’ primary business is providing technologies or products that manage or facilitate water distribution and usage, including the fields of water efficiency, water treatment and irrigation.

Methodology summary

  • Float-adjusted, modified market capitalization-weighting
  • Fundamental weighting based on percentage of company’s gross revenues derived from water-related activities
    • Direct water exposure: companies derive 50% or more of their revenues from water-related activities; this segment will represent at least 70% of the index
    • Indirect water exposure: companies derive 25% to 50% of their revenues from water-related activities; this segment will represent at most 30% of the index
  • No single issuer greater than 7.5%
    • No single issuer with indirect water exposure greater than 4%