Index Investment Shifting to Total-Market Funds From S&P 500

Looks like indexers have found a new heartthrob.

Vanguard's $104.8 billion (VFINX Quote)500 Index fund, which tracks the S&P 500, might be the biggest mutual fund in the nation, but so far this year, the firm's $19.3 billion (VTSMX Quote)Total Stock Market Index is its top seller and has doubled the 500 Index fund's sales.

Investors have pumped $2.3 billion into the Total Stock Market fund this year through April 30, compared with a little more than $1 billion they put into the 500 Index, according to Boston-based fund consultant Financial Research. ...