Only three mutual funds track the Dow Jones Industrial Average while 118 funds track the S&P 500, according to Lipper of Summit, N.J. However, because the change in the Dow index that took effect Nov. 1 is likely to greatly improve its performance, a number of mutual fund companies might bring Dow Jones index funds to market, according to portfolio managers and researchers.

To better reflect today's economy, Dow Jones & Co. decided to drop Goodyear Tire, Sears, Chevron and Union Carbide from the Dow Jones Industrial Average and replace them with Microsoft, Intel, SBC Telecommunications and Home Depot.

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