IBEX 35
IBEX 35 — Madrid Stock Exchange (BME)
Benchmark index tracking 35 companies listed on Madrid Stock Exchange (BME).
About the IBEX 35
IBEX 35 is the benchmark stock index of Madrid Stock Exchange (BME), tracking 35 companies. It is free-float weighted: each company's weight depends on the share of its capital actually available for trading.
Characteristics
Price history
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Historical performance
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Calculated live from Yahoo Finance closing prices (unofficial public proxy) — may be temporarily unavailable or delayed.
Track IBEX 35 in your portfolio
Add the IBEX 35 (symbol ^IBEX) to your virtual portfolio to track its allocation, performance and your simulated gains/losses alongside your other positions.
Add IBEX 35 to my portfolioIndex composition
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Approximate ranking by weight, for educational purposes — weighted by free-float market capitalization. Official composition on bolsamadrid.es.
What is the IBEX 35?
The IBEX 35 is the benchmark index of the Madrid Stock Exchange, inaugurated on January 14, 1992 with a history backdated to December 29, 1989 (base of 3,000 points). Managed by Sociedad de Bolsas (a BME subsidiary), it tracks the 35 most liquid Spanish stocks traded on the continuous market, reviewed twice a year (June and December).
How can you invest in the IBEX 35?
The most common route is an ETF tracking the index, widely available on international platforms, or futures and options traded on MEFF (Mercado Español de Futuros Financieros), the BME subsidiary dedicated to derivatives.
What sectors dominate the IBEX 35?
Banking, energy and telecommunications account for most of the index's weight, led by Inditex, Banco Santander and Iberdrola. The index remains sensitive to ECB interest rates (through its major banks) and energy prices, and took nearly two decades to recover and then surpass its 2007 highs.
What are the risks and limitations of the IBEX 35?
The heavy banking weighting makes the index highly sensitive to ECB monetary policy decisions and to periodic fears over Spanish sovereign debt, which can push up the risk premium (the yield spread with Germany) and weigh on financial stocks. Recurring political instability in Spain (minority governments, tensions over Catalan independence) is also a source of volatility specific to this index, less present on indices like the DAX or FTSE 100.
How has the IBEX 35 performed during past crises?
The index lost about 39% in 2008, then was hit a second time by the European sovereign debt crisis: -13% in 2011, as Spain's risk premium neared 200 basis points by late 2012. After peaking above 16,000 points in November 2007, the IBEX 35 didn't reclaim that level until late 2025 — roughly 18 years in the wilderness, one of the longest recovery periods among major European indices, far longer than the CAC 40 or DAX.
Price and chart data fetched live from Yahoo Finance via an unofficial public proxy: it may be delayed, temporarily unavailable or inaccurate. Composition and weightings are provided for educational purposes and are not a substitute for an official source. Nothing on this page constitutes investment advice.