Non-Market Cap Weighted Strategies
Non-market cap weighted strategy indices include financial data weighting, fixed weighting, volatility weighting, etc.

Financial data weighting severs the link between sample weight and price, reflecting the fundamental value of a company; fixed weighting includes equal weighting, stratified equal weighting, optimized equal weighting, etc.; volatility weighting primarily uses the inverse of historical or expected volatility for weighting to achieve the goal of risk level control.

Quantitative Strategies
Quantitative strategy indices mainly reflect the performance of mainstream investment strategies, such as behavioral finance (e.g., mean reversion), event arbitrage (e.g., mergers and acquisitions), fund flows, fundamental strategies, technical strategies, etc., aiming to construct portfolios with distinctive characteristics.

Factor Strategies
Factor strategy indices reflect the performance of different factors such as growth, liquidity, momentum, profitability, quality, and valuation, further leveraging the role of indices as fundamental financial tools. Currently, this represents the main development direction of narrow Smart Beta strategies.