草稿:威爾希爾5000總市場指數

威爾希爾5000指數歷史數據（1971-2024年）

US bond market compared to total stock market cap (Wilshire 5000). Mortgage-backed securities not shown.

  Wilshire 5000

  Corporate bonds

  Municipal bonds

  US Treasuries

威爾希爾5000總市場指數，簡稱為威爾希爾5000，是在美國活躍交易的所有美國股票的市值加權股價指數。截至 2023 年 12 月 31 日，該指數包含3403個成分股。該指數旨在衡量大多數總部位於美國的上市公司的表現，並提供現成的價格數據（不包括公告板/低價股和極小公司的股票）。因此，該指數包括主要通過紐約證券交易所、納斯達克或美國證券交易所交易的大多數普通股和 REITs。不包括有限合夥企業和美國存托憑證。可以通過跟蹤代碼 ^FTW5000 來跟蹤它。

歷史

• 威爾希爾5000全市場指數由威爾希爾聯合公司於1974年創立，其名稱源於該指數創立時涵蓋的大約5000支成分股。2004年4月，當道瓊公司開始承擔該指數的計算和維護工作後，該指數更名為"道瓊威爾希爾5000指數"。2009年3月31日，雙方終止合作，該指數的編制權重新回歸威爾希爾聯合公司所有。
• 該指數以1980年12月31日為基準日，基準值設定為1404.60點 當時其總市值為1.404596萬美元。基準日當天，每個指數點的變動對應10億美元市值變化。然而，由於公司行為引發的指數除數調整及指數成分變動，這一對應關係隨時間發生變化，到2005年時每個指數點已反映約12億美元的總市值變動。
• The index increased tenfold in less thantwenty years from its base date, peaking at a 20th-century closing record high of 14,751.64 points on March 24, 2000, a level that would not be surpassed until February 20, 2007. A hypothetical investment in the Wilshire 5000, made at the 2000 peak and with subsequent dividends reinvested, did not become profitable on a closing basis until October 3, 2006.
• On April 20, 2007, the index closed above 15,000 for the first time. On that day, the S&P 500 was still several percentage points below its March 2000 high, because small cap issues absent from the S&P 500 and included in the Wilshire 5000 outperformed the large cap issues that dominate the S&P 500 during the cyclical bull market. The index reached an all-time high on October 9, 2007, at the 15,806.69 point level, right before the onset of the Great Recession and the related 2008 financial crisis.
• Since late 2007, the expansion of subprime lending difficulties into the 2008 financial crisis plunged the United States into a renewed bear market that accelerated beginning on September 15, 2008. On October 8, the Wilshire 5000 closed below 10,000 for the first time since 2003. The index continued trading downward towards a 13-year low, reaching a bottom of 6,858.43 points, on March 9, 2009, representing a loss of about $10.9 trillion in market capitalization from its highs in 2007.
• The Wilshire 5000 gained approximately $2.5 trillion in market value during the first 11 months of 2009 while the index rose 2,105 points. Therefore, as of November 2009, each index point represented about $1.2 billion in market value.
• The index achieved a new highest yearly close on December 31, 2012, a few percent above those of 1999 and 2007, but failed to do so above the 15,000 level (after achieving it intraday) by fewer than 5 points, closing with 14,995.11 points. However, it continued to rise in the short term such that, on February 8, 2013, the index surpassed the 16,000 level for the first time. It would be the first of four 1000-point milestones that the index reached in 2013, as the index closed above 17,000 for the first time on May 3, 18,000 for the first time on August 1, and 19,000 for the first time on November 14. The Wilshire 5000 would close out 2013 on a record high, finishing the December 31, 2013 trading session at 19,706.03 points.
• 該指數於2014年2月28日首次突破20,000點盤中高點，隨後在3月4日以20,000點上方收盤實現歷史性突破。2014年7月1日，該指數首次收於21,000點上方；2017年年中又首次站上25,000點關口。
• 2018年8月24日，威爾希爾5000指數首次觸及30,000點盤中高位，並實現歷史首次收於該整數關口之上。
• 2020年3月，該指數自2016年以來首次跌破25,000點。
• 2021年1月7日，指數盤中首次突破40,000點大關，當日收盤亦創下該關口上方的新紀錄。
• 2024年2月2日，該指數盤中高點首次突破50,000點後收於該水平上方。
• 2024年11月7日，威爾希爾5000指數首次以60,000點上方收盤，再創歷史新高。

各項記錄

紀錄類型	日期	點數
歷史最高收市點數	2024年12月6號(星期五)	61,423.33
歷史最高點數	2024年12月6號(星期五)	61,498.43

版本構成

該指數包含五個計算版本:

• 全市值總收益型
• 全市值價格型
• 流通調整總收益型
• 流通調整價格型
• 等權重型

The difference between the total return and price versions of the index is that the total return versions accounts for reinvestment of dividends. The difference between the full capitalization, float-adjusted, and equal weight versions is in how the index components are weighted. The full cap index uses the total shares outstanding for each company. The float-adjusted index uses shares adjusted for free float. The equal-weighted index assigns each security in the index the same weight.

Calculation

Let:

• M = Number of issues included in the index;
• P_i = Price of one share of issue i included in the index;
• N_i = Number of shares of issue i for the full capitalization version, or the float of issue i for the float-adjusted version;
• $\alpha$ = a fixed scaling factor.

The value of the index is then:

$\alpha \sum _{i=1}^{M}N_{i}P_{i}$

At present, one index point corresponds to a little more than US$1 billion of market capitalization.

The list of issues included in the index is updated monthly to add new listings resulting from corporate spin-offs and initial public offerings, and to remove issues which move to the pink sheets or that have ceased trading for at least 10 consecutive days.

Alternatives

The CRSP U.S. Total Market Index (ticker CRSPTM1) is a very similar comprehensive index of U.S. stocks supplied by the Center for Research in Security Prices. It was especially designed for use by index funds. After Dow Jones and Wilshire split up, Dow Jones made their own total stock market index, called the Dow Jones U.S. Total Stock Market Index, similar to the Wilshire 5000.

研究顯示，在常用市場指數中，威爾希爾5000指數被證實是評估美國股票估值最有效的基準指數。

參見

• 巴菲特指數
• 威爾希爾4500
• 羅素3000
• 道瓊公司
• News Corporation
• 標普1500
• 基金市場

外部連結

• 官方網站
• Yahoo! Finance page for W5000