Indexing: theory & history
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The Indexing: theory & history article summarizes some of the background of indexing.
- Bogle, John C. Whether Markets are More Efficient or Less Efficient, Costs Matter From the Nov-Dec 2003 issue of CFA Magazine
- May 26, 1896: Charles Dow and the Dow Jones Average (Mr. Dow's Barometer).
- Alfred Cowles Can Stock Market Forecasters Forecast? Econometrica Volume 1, Issue 3, (July, 1933) pp. 309-324. Cowles Commission Indexes the forerunners of the S&P 500 Index.
- 1957: S&P 500 Index created
- December 31, 1969: MSCI EAFE Index created
- 1974: Wilshire 5000 Index created
- 1973-1974: The first institutional indexes based on the S&P 500 index were launched.
- 08/31/1976: Vanguard 500 Index Fund was launched.
- 1984: Russell Indexes created.
- 01/01/1986: Lehman Brothers US Aggregate Bond Index was created.
- 12/11/1986: Vanguard Total Bond Market Index Fund was launched.
- 08/17/1989 Vanguard Small-Cap Index Fund was created by converting Naess & Thomas Special Fund into an index fund based on the Russell 2000 Index.
- 03/1990: The world's first ETF (Exchange Traded Fund) was launched on the Toronto Stock Exchange (TSX); known as TIPS (Toronto 35 Index Participation Units). How ETFs are Created, Exchange Traded Funds (ETFs)
- 04/27/1992: Vanguard Total Stock Market Index Fund was launched.
- 01/1993: Standard & Poor's Depository Receipts (SPDRS ETF) launched.
- 1996: WEBS international ETFs launched (later to evolve into iShares)