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

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Building a Better Market Index

How Academic Research Shaped an Industry Standard

CRSP’s Market Indexes were built on a foundation of rigorous research—now, Chicago Booth Magazine is telling that story.

Discover how Booth faculty’s groundbreaking work led to the creation of CRSP’s investable indexes, culminating in the 2010 launch of the CRSP US Total Market Index.

Read the full article. 

News & Updates

CRSP Count™ Quarterly Update – September 2025

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. [...]

Watch the ETFGI US Summit Panel: Are Index ETFs Still Relevant?

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. [...]

CRSP Market Indexes US Market Update – Q3 2025

Notable items with this release include: - Markets continued their positive momentum in Q3, with all Indexes besides Consumer Staples in the green. - Growth outperformed Value in all cap [...]

Lessons from the Markets

Mark Carhart, PhD ’95, reflects on his Booth experience, his research that led to the CRSP Mutual Fund Database, and why index investing remains the best long-term strategy. [...]

Seeing Through the Fog of Market History

“The farther backward you can look,” Winston Churchill once famously said, “the farther forward you can see.” It’s a sentiment that’s as true for investors and market researchers as it [...]

Morningstar Plans to Acquire CRSP

We are pleased to share some exciting news about the Center for Research in Security Prices (CRSP): The University of Chicago, home to CRSP, and Morningstar, Inc. today signed an [...]

What “Owning the Market” Really Means

While the debate surrounding the merits of passive investing has long been settled—as more money continues to reside in index funds than actively managed ones—the argument over what it means [...]

ETFGI TV Interview: Paul Lohrey on Index Representation

As markets evolve, so too must the tools we use to measure them. In this exclusive segment with ETFGI TV, Paul Lohrey, Managing Director of Strategy and Analytics at CRSP, [...]

CRSP Market Indexes – Micro Cap Securities to be Removed from Sector Indexes

Beginning with the December 2025 ranking, the CRSP US Core Cap Index will replace the CRSP US Total Market Index as the parent index for all CRSP US Sector Indexes. [...]
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