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Griffin
10-17-2006, 12:19 PM
Understanding the difference between the DWCP and the DWCPF:

These are both funds that mirror Wilshire 4500 index (which is what the S-fund is). In a nutshell, the Wilshire 4500 is an extract of the Wilshire 5000 companies: which represent the entire US market excluding the companies of the S&P 500.

Both of these funds (DWCP and DWCPF) include all the same companies – but the total composition of each fund is different by how much a company is represented in the fund.

Example: Reduce the entire stock market to 5 companies, A, B, C, D and E.

A is a large cap with 500 share in existence
B is a mid cap with 300 shares in existence of which 180 (60%) are available for trading
C is a mid cap with 300 shares in existence of which 120 (40%) are available for trading
D is a small cap with 200 shares in existence of which 120 (60%) are available for trading
E is a small cap with 200 shares in existence of which 80 (40%) are available for trading

The Wilshire 5000 would be a composite of all five companies

Company A represents the S&P 500

The Wilshire 4500 would therefore only represent companies B, C, D and E.

In determining the weight of each stock in the fund, the DWCP only looks at the TOTAL amount of shares, where the DWCPF looks at the AVAILABLE shares.

In this example the DWCP is weighted based on a 1000 shares (300+300+200+200)
So the DWCP would hold
30% company B
30% company C
20% company D
20% company E

Where the DWCPF (which is what the S-fund more closely matches) is weighted based on 500 shares (180+120+120+80)
So the DWCPF would hold
36% company B
24% company C
24% company D
16% company E

Companies that have more available shares do not behave significantly different then companies with less available shares in the market on any given day. So in the grand scheme of things, once you factor all this across every sector and 4500 different companies, the behavior of the two funds are virtually identical despite the price difference due to their slightly different weightings.

airlift
10-17-2006, 12:24 PM
Thanks for the excellent clarification and comparison! --
Understanding the difference between the DWCP and the DWCPF:

These are both funds that mirror Wilshire 4500 index (which is what the S-fund is). In a nutshell, the Wilshire 4500 is an extract of the Wilshire 5000 companies: which represent the entire US market excluding the companies of the S&P 500.

Both of these funds (DWCP and DWCPF) include all the same companies but the total composition of each fund is different by how much a company is represented in the fund.

Example: Reduce the entire stock market to 5 companies, A, B, C, D and E.

A is a large cap with 500 share in existence
B is a mid cap with 300 shares in existence of which 180 (60%) are available for trading
C is a mid cap with 300 shares in existence of which 120 (40%) are available for trading
D is a small cap with 200 shares in existence of which 120 (60%) are available for trading
E is a mid cap with 200 shares in existence of which 80 (40%) are available for trading

The Wilshire 5000 would be a composite of all five companies

Company A represents the S&P 500

The Wilshire 4500 would therefore only represent companies B, C, D and E.

In determining the weight of each stock in the fund, the DWCP only looks at the TOTAL amount of shares, where the DWCPF looks at the AVAILABLE shares.

In this example the DWCP is weighted based on a 1000 shares (300+300+200+200)
So the DWCP would hold
30% company B
30% company C
20% company D
20% company E

Where the DWCPF (which is what the S-fund more closely matches) is weighted based on 500 shares (180+120+120+80)
So the DWCPF would hold
36% company B
24% company C
24% company D
16% company E

Companies that have more available shares do not behave significantly different then companies with less available shares in the market on any given day. So in the grand scheme of things, once you factor all this across every sector and 4500 different companies, the behavior of the two funds are virtually identical despite the price difference due to their slightly different weightings.

Griffin
10-17-2006, 02:24 PM
I guess I should have mentioned this:

Long term data on the DWCP and DWCPF are not available from finance.yahoo.com (they only give 5 days of data). Getting long term data on the DWCPF is difficult (I know it's not available from bigcharts.com or cnn.money)

Therefore, I use the DWCP for charting and analysis. I adjusted my link that is available from tsptalk to show the DWCP instead (just backspace out the f). This keeps everything apples to apples when I go from one site to the other.

Robo5555
10-17-2006, 05:29 PM
Great info....thanks!!!

ChemEng
11-16-2006, 01:14 PM
Anyone know of a place where you can get the historical DWCP data from? Disregard.

airlift
11-17-2006, 08:28 AM
I hadn't read this thread. Sorry for the late response. Try the symbol EMW at StockCharts.com. Other sites use DWCP for reasons I don't understand. However, EMW closely mirrors the S fund performance and the site has extensive data.

fabijo
11-17-2006, 08:46 AM
I hadn't read this thread. Sorry for the late response. Try the symbol EMW at StockCharts.com. Other sites use DWCP for reasons I don't understand. However, EMW closely mirrors the S fund performance and the site has extensive data.

I use that, too. Except you need to use a $ in front of the symbol. Like this:

$emw

airlift
11-17-2006, 09:02 AM
You are right. I failed to specify this.


I use that, too. Except you need to use a $ in front of the symbol. Like this:

$emw

Miles
02-15-2017, 03:18 PM
Understanding the difference between the DWCP and the DWCPF:

These are both funds that mirror Wilshire 4500 index (which is what the S-fund is). In a nutshell, the Wilshire 4500 is an extract of the Wilshire 5000 companies: which represent the entire US market excluding the companies of the S&P 500.

Both of these funds (DWCP and DWCPF) include all the same companies but the total composition of each fund is different by how much a company is represented in the fund.

Example: Reduce the entire stock market to 5 companies, A, B, C, D and E.

A is a large cap with 500 share in existence
B is a mid cap with 300 shares in existence of which 180 (60%) are available for trading
C is a mid cap with 300 shares in existence of which 120 (40%) are available for trading
D is a small cap with 200 shares in existence of which 120 (60%) are available for trading
E is a small cap with 200 shares in existence of which 80 (40%) are available for trading

The Wilshire 5000 would be a composite of all five companies

Company A represents the S&P 500

The Wilshire 4500 would therefore only represent companies B, C, D and E.

In determining the weight of each stock in the fund, the DWCP only looks at the TOTAL amount of shares, where the DWCPF looks at the AVAILABLE shares.

In this example the DWCP is weighted based on a 1000 shares (300+300+200+200)
So the DWCP would hold
30% company B
30% company C
20% company D
20% company E

Where the DWCPF (which is what the S-fund more closely matches) is weighted based on 500 shares (180+120+120+80)
So the DWCPF would hold
36% company B
24% company C
24% company D
16% company E

Companies that have more available shares do not behave significantly different then companies with less available shares in the market on any given day. So in the grand scheme of things, once you factor all this across every sector and 4500 different companies, the behavior of the two funds are virtually identical despite the price difference due to their slightly different weightings.

This was a nicely done explanation


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