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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. The effect of this change will be the removal of CRSP US Micro Cap Index securities from the sector indexes. Additionally, the RIC 25/50 compliance optimization parameters will change for the sector indexes. The Large Company Threshold will be reduced from 4.9% to 4.5% in all Ranking Tests and Ranking Optimizations and will be reduced from 4.95% to 4.75% in Compliance Optimizations. After this change, all CRSP US Market Indexes, including Market Cap, Style, and Sector indexes, will use the same buffers for IRS 25/50 compliance optimization.

News & Updates

What’s New in CRSP’s September Ranking?

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 Mentioned in 1929: Inside the Greatest Crash in Wall Street History – And How It Shattered a Nation

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. [...]

What does it really mean to be passive in today’s U.S. equity market?

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 [...]

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 [...]
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