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S&P 500 index at $23 trillion

The stocks in the S&P 500 index have collectively added $2.2 trillion in 2017 through Tuesday's close. By comparison, the consort added $1.6 trillion in 2016 and $9.9 trillion over the past 10 years. The 10.5% year-to-date gain – 11.7% in total return – was driven in the earlier part of the year on higher growth expectations stemming from the Trump administration, and later on overall higher earnings and better fundamentals.

U.S. pension funds hold approximately $550 billion in indexed U.S. equity, with defined contribution plans adding to that number as the trend toward passive continues.