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Vanguard to Switch Benchmarks for 22 Index Funds

Index mutual fund and ETF giant dumps MSCI for FTSE and CRSP.

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In a decision sure to send tremors through the passive investing world, Vanguard on Tuesday said it will change the benchmarks of 22 domestic- and international-stock mutual funds and exchange-traded funds in an effort to reduce overall ownership costs for investors.

It's dropping MSCI indexes for bogies constructed by FTSE for foreign-stock funds and the University of Chicago's Center for Research in Security Prices, or CRSP, for most of its domestic-equity funds. The change affects funds with a total of $537 billion in assets or more than a fourth of Vanguard's total assets.

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Dan Culloton does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.