The SPDR S&P Homebuilders ETF (Ticker: XHB) seeks to replicate as closely as possible, before expenses, the total return performance of the S&P Homebuilders Select Industry. The index focuses on the homebuilders sub-industry portion of the S&P Total Market Index (TMI). The S&P TMI tracks all the US common stocks regularly traded on the NYSE, American Stock Exchange, NASDAQ National Market and NASDAQ Small Cap Exchanges. The index holds approximately 21 stocks. Constituents are equal weighed at the beginning of each quarter and then float with the market for the rest of the quarter.