Problem: You are looking at your portfolio holistically, as you should, and you seek to invest a determined percentage in a total stock market, lost cost, etf or fund. Your choices available in your 401(k), however, are limited to a S&P 500 Index fund. What to do? Assuming you have other investable assets, the workaround is achieved by using what is called a "completion index" etf.
Two examples are:
VEXMX from Vanguard, expense fee .3%
WXSP from Claymore, expense fee .18%, note that WXSP is relatively new
The completion index tracks the 4500 stocks in the Wilshire 5000 except for the S&P 500. Thus, if you want 40% of your assets invested to track the total stock market as represented by the Wilshire 5000, invest 20% in the S&P 500 in your 401(k) and 20% in a completion etf outside of your 401(k).
The completion index etfs are useful tools for the DIY investor.
A good piece of advice.
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