We review the most featured underlying assets in the US structured products issued in 2025, based on SRP data.

The US market saw almost US$180 billion notional traded across 53.7K structured notes in 2025. The S&P 500 index , which has gone up by more than 14.7% in the past year, continued to dominate as the preferred single index underlier taking around one third market share of the underlying landscape in the US with over 14.8K products issued worth US$54.8 billion. Of these, 6k products that sold US$27.9 billion were linked to the US benchmark on its own. In the meantime, the main US equity benc