Index of the 3,000 largest stocks, compiled by the Frank Russell Company. The 3000 is split into two sub-indexes, the Russell 1000 index of large stocks and the Russell 2000 index of small stocks. Each of these indexes, in turn, are broken into both growth and value indexes. Vanguard uses some of these sub-indexes, such as the Russell 1000 Value index, as benchmarks for some of its funds.