草稿:威尔希尔5000总市场指数

威尔希尔5000指数历史数据（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

威尔希尔5000总市场指数，简称为威尔希尔5000，是在美国活跃交易的所有美国股票的市值加权股价指数。截至 2023 年 12 月 31 日，该指数包含3403个成分股。该指数旨在衡量大多数总部位于美国的上市公司的表现，并提供现成的价格数据（不包括公告板/低价股和极小公司的股票）。因此，该指数包括主要通过纽约证券交易所、纳斯达克或美国证券交易所交易的大多数普通股和 REITs。不包括有限合伙企业和美国存托凭证。可以通过跟踪代码 ^FTW5000 来跟踪它。

历史

• 威尔希尔5000全市场指数由威尔希尔联合公司于1974年创立，其名称源于该指数创立时涵盖的大约5000支成分股。2004年4月，当道琼斯公司开始承担该指数的计算和维护工作后，该指数更名为"道琼斯威尔希尔5000指数"。2009年3月31日，双方终止合作，该指数的编制权重新回归威尔希尔联合公司所有。
• 该指数以1980年12月31日为基准日，基准值设定为1404.60点 当时其总市值为1.404596万美元。基准日当天，每个指数点的变动对应10亿美元市值变化。然而，由于公司行为引发的指数除数调整及指数成分变动，这一对应关系随时间发生变化，到2005年时每个指数点已反映约12亿美元的总市值变动。
• 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.
• 该指数于2014年2月28日首次突破20,000点盘中高点，随后在3月4日以20,000点上方收盘实现历史性突破。2014年7月1日，该指数首次收于21,000点上方；2017年年中又首次站上25,000点关口。
• 2018年8月24日，威尔希尔5000指数首次触及30,000点盘中高位，并实现历史首次收于该整数关口之上。
• 2020年3月，该指数自2016年以来首次跌破25,000点。
• 2021年1月7日，指数盘中首次突破40,000点大关，当日收盘亦创下该关口上方的新纪录。
• 2024年2月2日，该指数盘中高点首次突破50,000点后收于该水平上方。
• 2024年11月7日，威尔希尔5000指数首次以60,000点上方收盘，再创历史新高。

各项记录

纪录类型	日期	点数
历史最高收市点数	2024年12月6号(星期五)	61,423.33
历史最高点数	2024年12月6号(星期五)	61,498.43

版本构成

该指数包含五个计算版本:

• 全市值总收益型
• 全市值价格型
• 流通调整总收益型
• 流通调整价格型
• 等权重型

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.

研究显示，在常用市场指数中，威尔希尔5000指数被证实是评估美国股票估值最有效的基准指数。

参见

• 巴菲特指数
• 威尔希尔4500
• 罗素3000
• 道琼斯公司
• News Corporation
• 标普1500
• 基金市场

外部链接

• 官方网站
• Yahoo! Finance page for W5000