Morningstar Acquires CRSP for $365M, Extends Vanguard Ties

Event summary

  • Morningstar completed its $365M acquisition of CRSP from the University of Chicago on February 2, 2026.
  • CRSP's Market Indexes, benchmarking over $3T in U.S. equities, will be rebranded under Morningstar.
  • Vanguard agreed to continue using CRSP indexes for funds like VTSAX and VIMAX.
  • The deal adds CRSP’s research data products to Morningstar’s existing index and data capabilities.

The big picture

Morningstar’s acquisition of CRSP solidifies its position as a top-tier index provider, particularly in U.S. equities. The deal aligns with broader industry trends toward low-cost investing and academically rigorous benchmarks, while Vanguard’s continued use of CRSP indexes underscores the strategic importance of this asset class for retirement plans.

What we're watching

Index Industry Disruption
How Morningstar will leverage CRSP’s methodology to challenge legacy index providers.
Vanguard Dependence
Whether Vanguard’s continued reliance on CRSP indexes ensures long-term stability for both firms.
Data Integration Challenges
The pace at which Morningstar can fully integrate CRSP’s research capabilities into its existing platform.

Our editorial coverage:

Morningstar Acquires CRSP, Shaking Up the Index Industry

Related topics

Acquisition