Everybody’s Styling

April 21, 2005


[1] .  The same variability arises when different indexes attempt to break things down by market capitalization, as shown later in this article.

[2] .  Wilshire will continue to calculate their own style indexes to ensure continuity for clients.

[3]. To make things more complicated, Dow Jones offers its own set of U.S. style indexes as part of its Total Market Index (TMI) series.  The Dow Jones TMI methodology is nearly identical to the Dow Jones/Wilshire methodology.  A spokesman for Dow Jones said that the two indexes differ mainly in their purpose: the TMI indexes cover a smaller number of stocks, are designed to be investable, and are intended for licensing use; the Dow Jones/Wilshire indexes are designed for benchmarking purposes alone.

[4] . Note: Barra has recently been bought by MSCI.  In this case, the MSCI and S&P/Barra indexes are direct competitors, which puts MSCI in the odd position of competing with itself.

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