Indices were created so investors could have a sense of how the overall market is performing, and market value-weighted indices do this very well.

引入指数的概念是为了使投资人对整体市场有大概的认识，依据市值权重的指数在这方面表现非常良好。

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The Dow is a relic of a market indicator; an average, not an index, weighted by price, not by market value.

道指是业已过时的市场指标；它是平均数，而非指数；以市价而非市值为权重。

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Back in 1896, the original Dow Jones Industrial Average was an unscientific selection of 12 American companies, weighted by the nominal level of their share prices rather than their market value.

1896年，道琼斯工业平均指数的计算最初只选择12家美国公司，按照名义股价而非市值进行加权，这很不科学。

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Most country funds, like other index funds, are market-weighted, meaning their exposure to different stocks is based on the total value of the stocks' shares outstanding in comparison with the market capitalization of other shares in that market.

WSJ: Single-Country ETFs: Risky Ventures