My 401k is somewhat limited in fund availablity in that there is no "Total Market" fund available. What I have available is an SP500 Fund and a Russell 2500 fund. I wish to use these two funds to create a "synthetic" total market fund.
My plan is to weight them according to total market capitalization, which I have calculated at 21.8 trillion for SP and 11.3 for R2500. This basically gives me a 2:1 ratio to build my total market position.
Thoughts? Does my methodology seem sound to you? As a side note, the fees for these funds are low (.035%) so I'm good with using what's available for this purpose.
Thank you!