DEFINITION of 'Russell 3000 Growth Index '
A market capitalization weighted index based on the Russell 3000 index. The Russell 3000 Growth Index includes companies that display signs of above average growth. The index is used to provide a gauge of the performance of growth stocks in the U.S.
Companies within the Russell 3000 that exhibit higher price-to-book and forecasted earnings are used to form the Russell 3000 Growth Index.
BREAKING DOWN 'Russell 3000 Growth Index '
Russell Investments screens for the largest 3000 U.S common stocks and these companies form the Russell 3000 Index. The top 1000 stocks in this screen become the Russell 1000, and the next 2000 forms the Russell 2000 Index. Combined, the Russell 1000 and Russell 2000 equal the Russell 3000. No pink sheets, bulletin board stocks, foreign stocks, or American Depository Receipts (ADRs) are included in these Indexes.