NOTICE: As of 2/2/2026, Morningstar has completed the acquisition of the Center for Research in Security Prices (CRSP). Learn more >>

How Big Tech Broke Smaller-Company Investing

“The behemoths of the stock market have become so big that they’re distorting gauges that define company size. CRSP’s definition of large stocks includes those in the top 85% of the entire market. The norm from other index providers is to count stocks from the biggest down and define those after a certain number as small.”

Read the full article at The Wall Street Journal.

Using CRSP Market Indexes Methodology, CRSP Count™ tracks changes in the number of securities by market cap segments - Mega, Mid, Small and Micro - through time. [...]
Notable items with this release include:
- December returns were fairly flat for Cap and Style Indexes
- Value outperformed Growth across the board in Q4, however, [...]
The 2026 CRSP Market Indexes Methodology Guide is now available. [...]
CRSP Market Indexes (CRSPMI) announces the market cap breakpoints and effective ranking dates for its December 2025 quarterly index rebalancing. [...]
We’ve updated our methodology to exclude Passive Foreign Investment Companies (PFICs) from our CRSP Market Indexes—helping mitigate tax implications and improve investor outcomes. [...]
CRSP is pleased to be recognized in Andrew Ross Sorkin’s new book, 1929: Inside the Greatest Crash in Wall Street History – And How It Shattered a Nation. [...]
As U.S. equity markets evolve, so should the way they’re measured. In an article published by ETF.com, CRSP explores why traditional, fixed-constituent benchmarks may no longer capture the full dynamics [...]
Using CRSP Market Indexes Methodology, CRSP Count™ tracks changes in the number of securities by market cap segments - Mega, Mid, Small and Micro - through time. [...]
CRSP was proud to join industry leaders at the 6th Annual ETFGI US Summit in New York for a thoughtful discussion on the continued relevance and innovation of index ETFs. [...]
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