Vanguard’s renaming to add “Morningstar” to the fund name is intentional and reflects a change in the ownership of the underlying index tracked by the fund.
This change specifically includes a number of Vanguard’s flagship index funds. Is this because Vanguard and Morningstar are now somehow affiliated? Have these funds and ETFs radically changed?
Why did Vanguard change the names of many of its funds and ETFs?
As of July 29, 2026, Vanguard has officially changed the name of 13 of its funds across each fund’s various mutual fund share classes, as well as its ETF share class.
The reason is Morningstar’s acquisition of CRSP (Center for Research in Security Prices), which had been the owner of the indexes used as the benchmark for the impacted funds. After acquiring CRSP, Morningstar decided to rebrand the various CRSP market benchmarks as Morningstar indexes.
An example is the Vanguard Total Stock Market Fund. The new name for this fund across the various share classes is the Vanguard Morningstar Total Stock Market Index Fund. The fund tracked the CRSP US Total Market Index; it now tracks the Morningstar US Total Market Index.
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What does Vanguard’s Morningstar renaming mean for investors?
Other than a new name for the impacted funds and ETFs, this change really has little or no impact on fund shareholders. Looking at several factors regarding the funds:
- Ticker symbols are unchanged. Fund holders do not need to adjust their records or their search engine or other tracking methods for these funds.
- The fund expense ratios remain unchanged and among the lowest available for similar funds.
- The index methodology remains unchanged. The mechanics of the index, the underlying rules, the market cap weightings, and the rebalancing timing and methodology remain unchanged.
- The holdings of the funds via the underlying indexes have not changed. Tax loss, performance history, and dividend yields were not impacted at all.
- The CUSIP numbers, which help verify the funds for transactions and other purposes, remain unchanged.
In short, while a new name on a fund or ETF that you own can look daunting, there is no impact or any action you need to take.
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Which Vanguard funds were impacted?
The following funds were impacted across the various mutual fund share classes, including investor, admiral, institutional, and the corresponding ETFs. The impacted funds include:
- Vanguard Total Stock Market
- Vanguard Mega Cap
- Vanguard Mega Cap Growth
- Vanguard Mega Cap Value
- Vanguard Large Cap Index
- Vanguard Growth Index
- Vanguard Value Index
- Vanguard Mid-Cap Index
- Vanguard Mid-Cap Growth Index
- Vanguard Mid-Cap Value Index
- Vanguard Small Cap Index
- Vanguard Small Cap Growth Index
- Vanguard Small Cap Value Index
According to Vanguard, multiple index funds began tracking the CRSP indexes in 2013. The indexes blended academic research and best practices in the methodology of index construction. Vanguard cites a number of factors behind the use of these indexes over time:
- Rules‑based construction designed to accurately and objectively represent the benchmark’s target investment segments
- Float‑adjusted market capitalization to reflect the investable opportunity set
- Consistent and regular rebalancing to maintain index definitions over time
- Constraints that help index funds track benchmarks efficiently and meet regulatory requirements
- Transition mechanisms for when securities move between styles or market cap levels, helping to reduce unnecessary turnover, trading costs, and market impact
- A multidimensional approach to growth and value style classification that considers various financial characteristics
While Vanguard’s recent name change has no impact on existing fund or ETF shareholders, this is not always the case. Investors should always review the reasons for any change in the name of a fund or ETF, as well as other less visible changes.
Even subtle changes to holdings or other fund definitions can affect your investment.
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