The Bucharest Exchange Trading Total Return Index (BET-TR) is a stock market index that tracks the performance of the most liquid stocks listed on the Bucharest Stock Exchange (BVB). The composition of the BET-TR is identical to that of the BET index. Unlike the price return BET index, which only reflects price movements, the BET-TR is a total return index, meaning it accounts for both price fluctuations and the reinvestment of dividends paid by its constituent companies.
The index is calculated in Romanian leu (RON), euro (EUR), and U.S. dollars (USD). The calculation formula factors in the reinvestment of net dividends on the ex-dividend date. To ensure diversification, the weight of any single company within the index is capped, usually at 20%.
Since its inception, the BET-TR has significantly outperformed the price return BET index due to the consistent dividend policy of large Romanian state-owned and private enterprises. It is often used as a benchmark for investment funds and exchange-traded funds (ETFs) targeting the Romanian market. In 2026, Banca Transilvania, listed the BT Index Romania ETF BET-TR on the Bucharest Stock Exchange designed to track the performance of the BET-TR index.
History The BET-TR was launched by the Bucharest Stock Exchange on 22 September 2014. It was the first total return index in the history of the Romanian capital market. Its purpose was to provide a more accurate representation of the actual gains realized by long-term investors, as the Romanian market is characterized by high dividend yields compared to regional peers.
The index was launched with a base value of 4,910.39 points, equal to the closing value of BET index on the base date. BET-TR is calculated retroactively starting with 24 September 2012.
Composition the Bucharest Exchange Trading Total Return Index consists of the following 20 companies, with a weighting as shown:
Company Symbol Sector (GICS) Market Cap Listed since Index weighting Banca Transilvania Financials 15 October 1997 21.02% OMV Petrom Energy 03 September 2001 15.47% Romgaz Energy 12 November 2013 12.11% Hidroelectrica Energy 12 July 2023 11.80% Transgaz Energy 24 January 2008 7.01% BRD – Groupe Société Générale Financials 15 January 2001 6.82% Digi Communications Communication Services 16 May 2017 4.65% Electrica Utilities 04 July 2014 4.19% MedLife Health Care 21 December 2016 3.81% Nuclearelectrica Energy 4 November 2013 3.64% Transelectrica Energy 29 August 2006 2.28% Premier Energy Utilities 28 May 2024 1.39% Fondul Proprietatea Financials 25 January 2011 1.22% One United Properties Real Estate 12 July 2021 1.13% Aquila Part Prod Com Consumer Staples 29 November 2021 0.77% Teraplast Industrials 2 July 2008 0.62% Transport Trade Services Industrials 14 June 2021 0.59% Antibiotice Health Care 16 April 1997 0.50% Sphera Franchise Group Consumer Discretionary 9 November 2017 0.50% Cris-Tim Consumer Staples 26 November 2025 0.49%
See also BET BET-XT ROTX Economy of Romania Foreign trade of Romania List of companies of Romania List of stock exchanges List of stock market indices
References
External links Bucharest Stock Exchange BET-TR Manual on Bucharest Stock Exchange