Walmart (WMT) is set to join the Nasdaq-100 Index before the market opens on Jan. 20, 2026, replacing the Anglo-Swedish pharma giant AstraZeneca (AZN), Nasdaq Global Indexes announced.
The benchmark index, which tracks the performance of 100 of the largest non-financial firms listed on the Nasdaq Stock Market, will add the retailer weeks after it switched its stock listing from NYSE to Nasdaq.
The Nasdaq-100 Equal Weighted Index and the Nasdaq-100 Ex-Tech Sector Index are also expected to include Walmart (WMT) concurrently. Meanwhile, AstraZeneca (AZN) will also be removed from the Nasdaq-100 ESG Index, Nasdaq-100 ex Top 30, Nasdaq-100 ex Top 30 UCITS, Nasdaq-100 Sustainable ESG Select, Nasdaq-100 Low Volatility, and Nasdaq-100 Select Equal Weight.
Shares of the U.K.-based drugmaker have added ~87% over the past five years, while Walmart (WMT) shares have more than doubled in value.
Many leading index funds, such as the $412B Invesco QQQ Trust Series 1 ETF (QQQ) and exchange-traded products, track the Nasdaq 100. In December, Jefferies projected that Walmart’s (WMT) inclusion could generate nearly $19B in inflows as index-tracking funds and exchange-traded products rebalance their portfolios.