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BHP is a $152 billion market-cap resources company with operations in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, and South America.
Even though it ignores small and mid caps, the S&P 500 is a reasonable passive benchmark within the US (because of the market-cap weighting, long-term returns on the S&P 500 and broader benchmarks like the Russell 3000 are fairly close).
It currently holds about 115 stocks in its market-cap weighted portfolio.
Source: https://247wallst.com/investing/2023/06/22/leading-indian-etf-could-be-a-short-squeeze-candidate/
The company has a market-cap of $36.2 million.
“These index providers also implement buffers to limit deletions and additions along the lower market-cap bound, further reducing turnover.
Source: https://www.etftrends.com/esg-channel/education-mid-caps-could-be-fruitful-investors/