@sirknight, I highly recommend Simon Betschinger's QIX method (Quality Index derived from the DAX). Simon finds my highest recognition next to Warren Buffett, although Simon is a "minnow", but his work is excellent. If this was reapplied to ASX you derive a new index, your "own" index. Then you can "index" according to Jack Bogle, but without the big load of scum companies. Let me know if that helps. Unfortunately... my last walk to CBA looked like this: "Yes, but you guys don't have any money yourselves, you issue bonds every half year to compliment the losses you are making on overpaying dividends", and who knows how they evaluate their assets.