US total market index returns

The growing proliferation of indexes from index providers, along with a corresponding growing number of index funds and ETFs, creates a number of issues for investors, since the index returns of the different providers result in a dispersion of both yearly and multi-period returns. Dispersion of returns is not as considerable an issue with Total Market indexes, but as we go into style and smaller size indexes, dispersion of return increases in magnitude. These return differences are mainly due to the differing methodologies index providers utilize in constructing their indexes. Different benchmarks cover varying ranges of stocks, have different selection criteria for growth versus value, and are even maintained and rebalanced differently. Each index provider's suite of index funds occupies the following segment of the Index Strategy Box:



Total Market Index Returns
Indexes: Dow Jones U.S. Total Stock Market Index; Morningstar Total Market Index; MSCI Broad Market Index; Russell 3000 Index; S&P Total Market Index; Wilshire 5000 Index

Methodologies

 * Dow Jones
 * Morningstar]
 * MSCI
 * Russell
 * S&P
 * Wilshire

Data sources
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Dow Jones Indexes

 * SPDR semi-annual reports 2009-2006
 * Dow Jones Indexes search for historical returns 2006-2002

Morningstar

 * Morningstar Market Barometer Ten-Year Recap 2000-2009
 * Morningstar Periodic Table 2008-1999
 * Morningstar Indexes Yearbook 2004 1998-1997

MSCI

 * Vanguard 2009-2006
 * MSCI 10 Year Annual Returns 2005-2004

Russell

 * Russell Index historical performance cycles 2009-2000
 * Blackrock Periodic Table of Returns 2008-1989 (use google search: Blackrock twenty year periodic table)
 * Investor Insights: Growth vs. Value Russell 3000 Growth and Value Indices 2008-1979

S&P

 * Vanguard VA Performance 2009-2006

Wilshire

 * Vanguard 2006-1993
 * Wilshire Returns Calculator 2009-1991; 1991-1971
 * }