Press release from Business Wire
Vanguard ETF to Transition to CRSP Index
Sunday, June 02, 2013
Vanguard ETF to Transition to CRSP Index20:00 EDT Sunday, June 02, 2013
TORONTO (Business Wire) -- Vanguard Investments Canada Inc. announced that Vanguard MSCI U.S. Broad Market Index ETF (CAD-hedged) (VUS) will seek to track the CRSP US Total Market Index (CAD-hedged), effective at the opening of trading at 9:30 a.m. Eastern time on June 3, 2013. As a result, the name of the exchange-traded fund (ETF) will change to Vanguard U.S. Total Market Index ETF (CAD-hedged). The ticker will stay the same.
|Vanguard ETF||Ticker||Previous Index||New Index||New Name|
Vanguard MSCI U.S. Broad Market Index ETF (CAD-hedged)
MSCI US Broad Market 100% Hedged to CAD Index
|CRSP US Total Market Index (CAD-hedged)||Vanguard U.S. Total Market Index ETF (CAD-hedged)|
The CRSP US Total Market Index (CAD-hedged) is a market capitalization-weighted index representing the returns of large-, mid-, small-, and micro-capitalization stocks in the U.S., hedged to the Canadian dollar. It provides similar exposure to the ETF's previous index and will not impact the ETFs' primary investment objectives and strategies. For more information go to Vanguard's Benchmark Philosophy.
CRSP: An index innovator
The index was developed by the Center for Research in Security Prices (CRSP) at the University of Chicago Booth School of Business. In 1960, the research organization pioneered the development of U.S. stock market data that are widely used in academic and investment research.
In 2009, CRSP engaged with Vanguard to create a new series of investable indexes, the CRSP Indexes. Vanguard will be the first investment management firm to track CRSP‘s broadly diversified benchmarks that cover the broad U.S. market, market capitalization segments and styles.
CRSP‘s capitalization-weighted methodology introduces the unique concept of “packeting,” which cushions the movement of stocks between adjacent indexes and allows holdings to be shared between two indexes of the same family. This approach maximizes style purity while minimizing index turnover.
Vanguard Investments Canada Inc. is a wholly owned indirect subsidiary of The Vanguard Group, Inc. Vanguard is one of the world's largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard manages more than $2.45 trillion in global assets. The firm offers more than 160 funds to U.S. investors and more than 80 additional funds in non-U.S. markets. For more information, please visit vanguardcanada.ca.
About the Center for Research in Security Prices (CRSP)
The Center for Research in Security Prices (CRSP) at the University of Chicago Booth School of Business has been an integral part of the academic and commercial world of financial and economic research since 1960. CRSP‘s portfolio of historical databases for common stocks, mutual funds, Treasuries, REITs and research indexes is relied on by more than 435 leading academic institutions in 31 countries. It is also widely used for research in the commercial and governmental sectors. For more information, please visit www.crsp.com.
All asset figures are as of May 31, 2013, unless otherwise noted.
Commissions, management fees and expenses all may be associated with the Vanguard ETFs™. This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies are available from Vanguard Investments Canada Inc. at www.vanguardcanada.ca . Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated.
The Vanguard ETF referred to herein is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such ETF. The prospectus contains a more detailed description of the limited relationship MSCI has with Vanguard and any related funds.
Vanguard funds are not sponsored, endorsed, sold, or promoted by the University of Chicago or its Center for Research in Security Prices, and neither the University of Chicago nor its Center for Research in Security Prices makes any representation regarding the advisability of investing in the funds.
For more information:
Vanguard Public Relations, 610-669-5002