will begin tracking their respective CRSP benchmarks today, as they
officially let go of the MSCI indexes that had anchored the
strategies until now-all part of a major overhaul Vanguard first
announced last fall that involved index switches in 22 of its ETFs
from MSCI benchmarks to FTSE and CRSP ones.
The new indexes, created by a research center of the University
of Chicago's Booth School of Business, aren't expected to result in
major portfolio differences going forward.
At the time of Vanguard's change announcement, the No. 3 U.S.
ETF provider went to great lengths to downplay any differences in
returns between the MSCI indexes and the new enlisted ones. Of the
22 ETFs undergoing index changes, 16 are U.S.-focused portfolios
that are shifting to benchmarks from CRSP.
All of the ETFs included in today's round of index changes focus
on U.S. equities, and only two of them-mega-cap funds-will have
their names changed as well. All tickers are to remain the same.
They are as follows:
- The Vanguard Mega Cap 300 Value ETF (NYSEArca:MGV) will now
be called the Vanguard Mega Cap Value ETF as it begins tracking
the CRSP U.S. Mega Cap Value Index. Ticker will remain
- The Vanguard Mega Cap 300 Growth ETF (NYSEArca:MGK) will also
drop the '300' from its name and ditch the MSCI index it
previously tracked for the CRSP U.S. Mega Cap Growth Index.
Ticker will also remain unchanged.
- The Vanguard Growth ETF (NYSEArca:VUG) will keep its name and
ticker, but begin tracking the CRSP U.S. Large Cap Growth
- The Vanguard Value ETF (NYSEArca:VTV) now tracks the CRSP
U.S. Large Cap Value Index.
- The Vanguard Mid-Cap Growth ETF (NYSEArca:VOT) now tracks the
CRSP U.S. Mid Cap Growth Index.
- The Vanguard Mid-Cap Value ETF (NYSEArca:VOE) now tracks the
CRSP U.S. Mid Cap Value Index.
- The Vanguard Small-Cap Growth ETF (NYSEArca:VBK) now tracks
the CRSP U.S. Small Cap Growth Index.
- The Vanguard Small-Cap Value ETF (NYSEArca:VBR) now tracks
the CRSP U.S. Small Cap Value Index.
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