by 
The Curious Bag
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As of January 2010, the Russell family of major indexes contains the Russell 3000, Russell 2000 and Russell 1000. All Russell indexes derive from the Russell 3000E Index, which approximates 99 percent of the U.S. equity market.
Identification
Merriam Webster defines index as "a list of publicly traded companies and their stock prices." Russell indexes provide an indicator of the broader equity markets.
Russell Index Membership
On the last trading day in May each year, Russell ranks the 4,000 largest U.S.-based equity companies by market capitalization. A committee does not select member stocks. Stocks gain entrance based on their market capitalization ranking.
Russell 3000
The Russell 3000 index measures performance of the 3,000 largest U.S. equity companies. These companies represent approximately 98 percent of the investable equity market.
Russell 2000
This index measures the performance of small cap securities. The Russell 2000 represents approximately 8 percent of the market cap of the Russell 3000 index.
Russell 1000
The Russell 1000 includes 1,000 of the largest securities based on market capitalization and current index membership. The index measures the performance of large capitalization securities.
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