Inclusion follows FTSE Russell's June 2026 semi-annual reconstitution of the Russell US Indexes
IRVINE, CA, July 09, 2026 (GLOBE NEWSWIRE) -- Foxx Development Holdings Inc. ("Foxx Development" or the "Company") (Nasdaq: FOXX), a leading provider of consumer electronics and integrated Internet-of-Things (IoT) solutions for retail and institutional clients, today announced that the Company was added to the Russell Microcap® Value Benchmark Index and the Russell 3000E™ Value Benchmark as part of the 2026 Russell indexes reconstitution. The changes took effect after the close of U.S. equity markets on Friday, June 26, 2026. Membership in the Russell Microcap® Index, which Foxx Development first joined in 2025, carries automatic inclusion in the applicable Russell style (growth or value) benchmarks.
The Russell US Indexes are reconstituted on a semi-annual basis, in June and December, with style classifications determined annually as part of the June reconstitution. The June reconstitution ranks up to the 4,000 largest U.S. companies by total market capitalization as of the April 30 rank day. FTSE Russell determines membership primarily through an objective, rules-based methodology using market-capitalization rankings and style attributes, and there is no application or fee to be included.
What's more, style assignments, growth or value, are based on measurable inputs such as book-to-price ratio and forecast growth. They also reflect a company's style characteristics under FTSE Russell's methodology rather than any assessment of investment merit.
"Inclusion in the Russell Microcap® Value Benchmark Index and the Russell 3000E™ Value Benchmark reflects Foxx Development's continued presence in the U.S. public markets as we work to build a durable consumer electronics and IoT business," said Greg Foley, Chief Executive Officer of Foxx Development. "We believe broader representation across the Russell indexes can enhance our visibility with institutional investors and the index-tracking funds that reference these benchmarks as we continue to execute on our long-term strategy."
Russell indexes are widely used by institutional investors and investment managers as benchmarks for active strategies and as the basis for index funds and other passive vehicles. According to FTSE Russell, approximately $12.2 trillion in investor assets were benchmarked to, or invested in products based on, the Russell US Indexes as of June 30, 2025.
Index inclusion does not guarantee any particular level of trading volume, liquidity, share price, or investment return, and does not constitute a recommendation to buy, sell, or hold any security. FTSE Russell may add or remove companies at future reconstitutions based on market capitalization, style characteristics, or other eligibility criteria.