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Index Family:    Wilshire Broad Market Indexes
Index Name:    The Wilshire 4500 Completion Index

Measures the performance of all small and mid-cap stocks. It is constructed using the Wilshire 5000 securities with the companies in the Standard & Poor's 500 Index removed. The approximately 4,500 capitalization weighted returns provide an excellent benchmark for "extended" fund managers. The Wilshire 4500 was created December 31, 1983.


Construction/Methodology

Membership

  • Included in the Wilshire 5000 Total Market Index [float adjusted]
  • Not Included in the Standard & Poor's 500 Index
  • A U.S. company.
  • A security that has its primary market listing in the U.S.
Bulletin board issues will not be added to the indexes because it is assumed that they do not have consistently "readily" available prices.
The company’s primary issue for index valuation is determined based on the following criteria:
  • Market capitalization
  • Trading volume
  • Institutional holdings
  • Conversion rules (for companies with multiple share classes)

Weighting

  • The index is weighted by float-adjusted market capitalization.

Share Treatment and Float Adjustment

  • Shares outstanding for multiple classes of stock are combined into the primary issue's shares outstanding to reflect the company’s total market capitalization.
  • Float adjustments are based on block ownership of each class of stock, and then are combined to determine total float for a company’s combined shares.
  • Float-adjustment factors will be implemented only if the blocked shares are greater than 5% of the company's total shares outstanding.

Adjustments and Maintenance

  • Stock additions and deletions are made after the close of trading on the third Friday of each month. The additions include all companies that met inclusion standards during the previous calendar month, whether from IPOs or new exchange listings.
  • An issue that becomes a pink sheet or otherwise stops trading for ten consecutive days will be removed from the indexes at the next monthly review. It will be removed at its latest quoted value, or at $0.01 if no recent quoted value is available. Until the monthly review, the issue will remain in the indexes at its last exchange-traded price.
  • Once a quarter, current component stocks with more than 20 non-trading days that have not been suspended are deleted. Suspended stocks are evaluated separately for removal.
  • An issue that fails index inclusion guidelines is removed from the indexes as soon as prudently possible.
  • Periodic shares updates are made quarterly after the close of trading on the third Friday of March, June, September and December. The changes become effective at the opening of trading on the next business day.
  • If the cumulative impact of corporate actions during the period between quarterly shares updates changes a company's float-adjusted shares outstanding by 10% or more, the company's shares and float factor will be updated as soon as prudently possible. Share and float changes based on corporate actions will be implemented using standard Dow Jones Indexes procedures. Except to account for stock splits and reverse splits, shares and float factors will not be adjusted for bulletin board and pink sheet stocks. These securities will remain in the indexes with the same shares and float factors until they are returned to exchange listings or are removed from the indexes.

Construction/Methodology (PDF)

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Today's Wilshire 4500
Completion Index
April 22, 2014 1,006.93
One Day Change +10.47
% Change +1.05
Intra-day High 1,008.82
Intra-day Low 997.12
One Year Ago 806.88
52-Week High 1,038.31
On March 4, 2014
52-Week Low 806.22
On June 24, 2013
All-Time High 1,038.31
On March 4, 2014


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