Vanguard to Update Names of U.S. Equity Index Funds Tracking Morningstar Indexes

VALLEY FORGE, PA (April 29, 2026)—Following Morningstar’s rebranding of the CRSP Market Indexes to Morningstar Indexes, Vanguard today announced upcoming changes to the names of multiple Vanguard U.S. equity index funds tracking those benchmarks. “Morningstar” will be added to the names of these funds and their corresponding indexes. For example, Vanguard Total Stock Market Index Fund will become Vanguard Morningstar Total Stock Market Index Fund. The fund name changes are expected to occur in July 2026 and will not affect the funds’ investment objectives or how they are managed.

A full list of funds changing names can be found here.

Vanguard believes that low‑cost, broadly diversified index funds remain one of the most effective ways for investors to pursue their long‑term financial goals. By tracking transparent benchmarks designed to accurately represent market segments and remain investable through market cycles, these funds help support disciplined investing. The best practices incorporated in the Morningstar Indexes align with Vanguard’s longstanding commitment to helping investors achieve their long-term goals.

“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,” said Rodney Comegys, CIO of Vanguard Capital Management and Head of Global Equity. “The Morningstar Indexes incorporate disciplined, rules‑based approaches that align with Vanguard’s long‑standing views on index construction and help ensure our funds remain investable and representative over time.”

Multiple Vanguard U.S. equity index funds began tracking the then-CRSP benchmarks in 2013. From the beginning, the indexes have blended academic research with industry best practices in index construction methodology. This is reflected in core design features that support accurate market representation, consistency, and investability:

• Objective, rules‑based construction designed to accurately represent their target investment segments.

• Use of float‑adjusted market capitalization to reflect the investable opportunity set.

• Regular rebalancing to maintain alignment with index definitions over time.

• Investability constraints that help index funds track benchmarks efficiently and meet regulatory requirements.

• Thoughtful transition mechanisms when securities move between styles or size segments, helping to reduce unnecessary turnover, trading costs, and market impact.

• A multidimensional approach to growth and value style classification that considers multiple financial characteristics.

“At Morningstar Indexes, our focus is on building benchmarks that investors and asset managers can rely on over time,” said Amelia Furr, President of Morningstar Indexes. “Our rules‑based approach, emphasis on investability, and thoughtful rebalancing practices are designed to support efficient implementation and long‑term investing—principles that align closely with Vanguard’s index investing philosophy.”

Find more information about index funds.

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About Vanguard
Founded in 1975, Vanguard is one of the world's leading investment management companies. The firm offers investments, advice, and retirement services to tens of millions of individual investors around the globe—directly, through workplace plans, and through financial intermediaries. Vanguard operates under a unique, investor-owned structure where Vanguard fund shareholders own the funds, which in turn own Vanguard. As such, Vanguard adheres to a simple purpose: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success. For more information, visit vanguard.com.

For more information about Vanguard funds and Vanguard ETFs, visit vanguard.com to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing.

Vanguard ETF Shares are not redeemable with the issuing Fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.

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The Morningstar Indexes are the exclusive property of Morningstar, Inc. Morningstar, Inc., its affiliates and subsidiaries, its direct and indirect information providers and any other third party involved in, or related to, compiling, disseminating, computing or creating any Morningstar Index (collectively, “Morningstar Parties”) do not guarantee the accuracy, completeness and/or timeliness of the Morningstar Indexes or any data included therein and shall have no liability for any errors, omissions, or interruptions therein. None of the Morningstar Parties make any representation or warranty, express or implied, as to the results to be obtained from the use of the Morningstar Indexes or any data included therein.

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