CRSP

The Center for Research in Security Prices (CRSP) at the University of Chicago Booth School of Business has played an integral role in financial and economic research since 1960. More than 500 leading academic, financial and government institutions in 35 countries rely on CRSP’s market research and databases.

CRSP Indexes blend advances in academic research with industry best practices. CRSP’s market-capitalization-weighted indexes introduced the concept of “packeting,” which cushions the movement of stocks between indexes as a company’s market capitalization fluctuates. Packeting allows holdings to be shared between two indexes and moves to be completed over time. This approach maximizes style purity while minimizing index turnover.

CRSP Indexes use breakpoints based on cumulative market capitalization rather than a fixed number of securities. So, CRSP Indexes can be expected to represent market segments over time.

CRSP Indexes also use these industry best practices:

• Index construction based on objective rules
• Float adjustments reflecting only available shares
• Multifactor model to identify growth versus value
• Gradual and orderly rebalancing to reflect market changes

CRSP website

Vanguard´s ETFs that use CRSP benchmarks

Vanguard  ETF	Ticker	Target index	Total expense ratio
Total Stock Market ETF	VTI	CRSP U.S. Total Market Index	0.03%
Mega Cap ETF	MGC	CRSP U.S. Mega Cap Index	0.07%
Mega Cap Growth ETF	MGK	CRSP U.S. Mega Cap Growth Index	0.07%
Mega Cap Value ETF	MGV	CRSP U.S. Mega Cap Value Index	0.07%
Large-Cap ETF	VV	CRSP U.S. Large Cap Index	0.04%
Growth ETF	VUG	CRSP U.S. Large Cap Growth Index	0.04%
Value ETF	VTV	CRSP U.S. Large Cap Value Index	0.04%
Mid-Cap ETF	VO	CRSP U.S. Mid Cap Index	0.04%
Mid-Cap Growth ETF	VOT	CRSP U.S. Mid Cap Growth Index	0.07%
Mid-Cap Value ETF	VOE	CRSP U.S. Mid Cap Value Index	0.07%
Small-Cap ETF	VB	CRSP U.S. Small Cap Index	0.05%
Small-Cap Growth ETF	VBK	CRSP U.S. Small Cap Growth Index	0.07%
Small-Cap Value ETF	VBR	CRSP U.S. Small Cap Value Index	0.07%