US small cap index returns
US small cap index returns chronicles the annual returns of US small cap stocks as measured by stock indexes.
The growing proliferation of indexes from index providers, along with a corresponding growing number of index funds and exchange-traded funds (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 highlighted segment of the Index Strategy Box.
Small cap blend index returns
The following table provides returns data for U.S. small cap blend indexes.
Small cap growth index returns
The following table provides returns data for U.S. small cap growth indexes.
Small cap value index returns
The following table provides returns data for U.S. small cap value indexes.
The table below provides the inception date for each index, as well as the initial date for any backdated data.
|Index Provider||Inception||Backdate data|
- Stock market indexing for information about the various major index providers.
- Indexing in the 21st Century: Portfolio Solutions Inc.
- The case for indexing, Christopher B. Philips, Vanguard research, 2011, pp.13. Viewed January 21, 2015.
- CRSP Returns and constituents
- Dow Jones Indexes Dow Jones Indexes, US total market factsheets, historical sheets unavailable • SPDR semi-annual reports 2009-2006
- Morningstar Indexes • Morningstar Market Barometer Ten-Year Recap 2000-2009 • Morningstar Periodic Table 2008-1999 • Morningstar Indexes Yearbook 2004 1998-1997 • "Morningstar Indexes". http://corporate.morningstar.com/US/asp/subject.aspx?xmlfile=11.xml.
- Russell index calculator • Russell Index historical performance cycles 2009-2000 • Fidelity Callan Chart 2003-1984 • Portfolio Construction for Taxable Investors,Vanguard Investment Counseling & Research (1993-1980) • "Russell index calculator". http://www.russell.com/indexes/americas/tools-resources/index-performance-calculator.page.
- Ishares small cap overview pages 2009-2001 • S&P: A Tale Of Two Indexes 2008-1994 • RiverSource Trust Emerging Growth Fund II 2005-1996 (small growth) • American Express Trust Small Cap Value Fund II 2004-1995 (small value) • "Vanguard Advisors, performance tab". https://advisors.vanguard.com/VGApp/iip/advisor/csa/investments/benchmarks/sp.
- Variance Among Indexes, Craig Israelsen, JOI, May /June 2007.
- Looking at how different indexes affect performance., Craig Israelsen, JOI, September /October 2012.
- Determining the appropriate benchmark: A review of major market indexes Christopher B. Philips, C. William Cole and Francis M. Kinniry Jr.,Vanguard Research (April 10, 2010).
- The Case For Indexing, Christopher B. Philips and Frank J. Ambrosio, Vanguard Investment Counseling & Research (February, 2011).