Outdoor Brands Index

Index introduction

The Artiga Outdoor Brands Index® (AOBI) is the first worldwide index of companies based on the design, development and production of equipment specialized in mountain and nature sports.

It is made up of 15 companies from segments such as climbing, skiing, mountaineering, camping and adventure. The selection of companies and their presence in the index is defined on the basis of: quantitative financial criteria and qualitative criteria on business model.

The 15 holdings

Index tracking

The construction of the index started on 12/17/2020, and since 02/22/2022 the variations of the index as well as changes in its composition are published in open access every 7 days and its evolution is compared with other (non-thematic) reference indexes. The total accumulated variations in the year (YTD) will be indicated, as well as in several years for better interpretation.

Valuation & Ratios


The Outdoor Brands Index is based on financial and business model criteria. This index is based on the following pillars:

  • Listed companies: In order to build a stock market index we can only choose companies that are listed on the stock exchange. In the outdoor industry there are not a large number of listed companies, either because of their size (grouped in other business groups) or because they prefer to remain private (e.g. Patagonia).
  • Brands: For this index we have selected only outdoor equipment brands; design, development and production. We want this index to be an easy way to follow and/or replicate the big groups of mountain, nature and adventure gear. We have excluded other categories such as retailers, distributors, direct services, business services, installations, etc. These other categories may be included in a future index that encompasses the entire outdoor sector (in project).
  • Company business model: We apply a classification of business models that comprise at least 25% of sales directly related to outdoor products. Under this criterion some brands that are present in the outdoor market are left out of the index (e.g. adidas, nike, mizuno, under armour, camping world...) since the weight of outdoor is less than 25%.
  • Weighting factors: We apply a weighting by market capitalization.
  • Currency: The index is prepared in Euros, we convert the currencies in which the companies are listed (JPY, HKD, NZD, SEK, USD) at the market exchange rate.
  • Weekly periodicity: we update the index every 7 days, its capitalizations, currencies and changes.
  • Components: The index will maintain 15 components, which may be updated based on their capitalization and possible delistings or IPOs.

Contact us

If you are interested in the work behind the Outdoor Brands Index, because you are an investment fund, a consultancy, a family office or any other type of agent linked to professional financial management or the outdoor world, write to us at info@artigapartners.com.


Past performance is no guarantee of future results. The investor should carefully consider investment objectives, risks, charges and expenses before investing. An investor cannot invest directly in an index and there is currently no replication instrument for this index. This material is not intended to provide legal, tax, investment or financial asset purchase/sale advice and should not be treated as such. Tax laws and regulations are complex and may change over time. Information may be misleading and incomplete.