Vanguard Announces Name Updates for U.S. Equity Index Funds Following Morningstar Rebranding

Vanguard Announces Name Changes for U.S. Equity Index Funds

VALLEY FORGE, Pa., April 29, 2026 /PRNewswire/ — Vanguard, a prominent investment management firm, has revealed significant updates regarding its range of U.S. equity index funds. Effective July 2026, several of these funds will adopt new names that include the term "Morningstar," following the rebranding of the CRSP Market Indexes to Morningstar Indexes.

This decision comes as Vanguard seeks to align its offerings with the updated benchmarks, ensuring that investors have a clear understanding of the indices that their funds are tracking. For instance, the popular Vanguard Total Stock Market Index Fund will be renamed to Vanguard Morningstar Total Stock Market Index Fund. This change will not impact the investment objectives or management practices of the funds, as Vanguard continues to uphold its commitment to low-cost, diversified options for investors.

Rodney Comegys, the Chief Investment Officer of Vanguard Capital Management and Head of Global Equity, emphasized the importance of index quality in providing investors with broad market exposure. He stated, "Index funds are designed to give investors broad, low-cost exposure to the markets, and that starts with the quality of the benchmarks they track." The integration of Morningstar’s benchmarks is designed to enhance the integrity and reliability of these funds.

Since first adopting the CRSP benchmarks in 2013, Vanguard's funds have utilized a blend of rigorous academic research and industry best practices to ensure accurate market representation. The core design features of the Morningstar Indexes focus on various aspects such as:

- Objective, Rules-Based Construction: These indexes are designed to precisely reflect the target investment segments.
- Float-Adjusted Market Capitalization: This reflects the investable opportunities available within the market.
- Regular Rebalancing: Ensures alignment with the index definitions over time.
- Investability Constraints: Helps the funds efficiently track their benchmarks while adhering to regulatory requirements.
- Thoughtful Transition Mechanisms: Facilitates smooth transitions when securities move between different investment styles or size segments, minimizing turnover and trading costs.
- Multidimensional Approach to Style Classification: This approach evaluates multiple financial characteristics to categorize growth and value styles accurately.

Amelia Furr, President of Morningstar Indexes, reiterated the company's commitment to providing robust benchmarks.