Free tools Windows power users keep installed
One-click scans. No signup required.
Argentina’s construction-sector equity index tracks construction-related shares; it does not measure the cost of building. For a sector-versus-market comparison, compare the S&P/BYMA Argentina General Construction Index with the S&P MERVAL or the broader S&P/BYMA Argentina General using matching dates, return types, and currency. For residential construction costs, use INDEC’s separate ICC-GBA measure, which covers Greater Buenos Aires.
What is Argentina’s construction index?
In an equity-market context, “Argentina’s construction index” most likely means the S&P/BYMA Argentina General Construction Index, also referred to by BYMA as S&P/BYMA Construcción. It selects qualifying companies from the S&P/BYMA Argentina General that are assigned to specified construction-related GICS sub-industries: Construction Materials, Forest Products, Building Products, Construction & Engineering, and Homebuilding.
The index is float-adjusted market-capitalization weighted, so companies’ weights reflect their eligible market value rather than an equal allocation. Its S&P DJI factsheet calculates the index in Argentine pesos (ARS) and lists distinct price-return and total-return variants. The index launched on 7 October 2019, while its first value date is 11 January 2019; a value date before launch does not establish a live track record for that earlier period.
How does the construction index compare with the Merval?
The S&P MERVAL and construction index answer different equity questions. The construction index isolates a sector; the Merval is Argentina’s flagship benchmark for larger, more liquid domestic shares listed on BYMA. S&P DJI says the Merval applies minimum size and liquidity conditions and uses float-adjusted market-cap weighting with a 15% cap on any one stock.
Recommended Free Tools
#1 Best Overall
The construction index can therefore move differently from the Merval because it has a narrower industry universe, and its performance may be shaped by a small number of companies. In a factsheet snapshot dated 31 August/14 September 2026, S&P DJI reported six constituents and a largest-constituent weight of 82.5%. Those are snapshot-specific characteristics, not permanent index rules; check the current factsheet before relying on them.
What is the difference between the Merval and Argentina General?
The S&P/BYMA Argentina General is the broader domestic-share reference point. Its methodology includes BYMA-listed domestic stocks that traded on at least 20% of trading days in the previous 12 months and weights them by float-adjusted market capitalization. BYMA describes it as measuring all eligible local shares listed on the Buenos Aires exchange.
| Benchmark | What it represents | Selection and weighting |
|---|---|---|
| S&P/BYMA Argentina General Construction | Construction-related equities within the Argentina General universe. | Qualifying constituents from specified construction-related GICS sub-industries; float-adjusted market-cap weighted. |
| S&P MERVAL | Larger, more liquid domestic BYMA shares; Argentina’s flagship equity benchmark. | Minimum size and liquidity conditions; float-adjusted market-cap weighted, with a 15% individual-stock cap. |
| S&P/BYMA Argentina General | Broader eligible universe of local domestic shares listed on BYMA. | Domestic shares trading on at least 20% of trading days in the prior 12 months; float-adjusted market-cap weighted. |
Use the construction index versus the Merval to ask how the sector performed against a large, liquid-share benchmark. Use it versus Argentina General to compare the sector with a wider pool of eligible domestic shares. In either case, sector concentration and the different eligibility rules affect what the comparison can tell you.
Does the construction index measure construction costs or construction stocks?
It measures construction-related stocks, not building costs, wages, or the price of materials. Argentina’s official cost measure is INDEC’s Índice del costo de la construcción en el Gran Buenos Aires (ICC-GBA). Its scope is private residential building in the City of Buenos Aires and 24 surrounding partidos, and it covers materials, labor, and general expenses. It should not be presented as a national measure of construction costs.
Rank #3
INDEC’s release dated 16 September 2026 reported that the ICC-GBA’s overall level increased 2.5% month over month in August 2026. In that same one-month release, materials rose 1.7%, labor 3.2%, and general expenses 2.2% (INDEC, 2026). These are changes in a defined cost index, not returns on construction shares; comparing them directly with an equity return without explaining the different concepts, geography, periods, currency, and units would be misleading.
How to make a fair comparison
- Choose the question first. For sector-versus-market performance, compare construction equities with the Merval or Argentina General. For changes in Greater Buenos Aires residential building costs, use ICC-GBA.
- Set identical dates and horizons. Use the same start and end dates for both equity indices, and label the period clearly—for example, one month, year to date, one year, or a multi-year interval. Factsheet returns are snapshots, so include each figure’s “as of” date.
- Match return variants. Compare price return with price return or total return with total return. The construction-index page lists both variants; do not silently compare one with the other.
- State currency and geography. The construction-index factsheet uses ARS. Identify the currency for every return series you use and explain whether the comparison concerns Argentine equities or the narrower Greater Buenos Aires scope of ICC-GBA.
- Check the constituent mix. Review the current number of holdings and constituent weights before interpreting a sector result. A concentrated index can reflect the performance of a few companies more than a broad change across the construction industry.
- Separate live history from back-tested history. S&P DJI cautions that results before an index’s launch date are hypothetical back-tested performance and actual returns may differ significantly. Label pre-launch figures as back-tested rather than as realized live performance.
Which benchmark should you use?
- Construction index: Use it to examine listed companies in the specified construction-related industries.
- Merval: Use it to compare with Argentina’s large, liquid domestic shares.
- Argentina General: Use it as the broader eligible domestic-share benchmark.
- ICC-GBA: Use it to follow defined residential construction costs in Greater Buenos Aires, not equity-market performance.
For market prices, volumes, and related data, BYMA describes data access through FIX and API services; availability and terms should be checked with BYMA directly: BYMA market data.
Quick Recap
Best Value
- Back to school
- Vacation
- Travel
- Scrapbook journal memories
- crafts
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
