Standard & Poor's Depositary Receipts
The SPDR S&P 500 is an exchange-traded fund from State Street Global Advisors that tracks the S&P 500. For a long time, the fund was the largest ETF in the world. As of August 2012, it is the largest exchange-traded product in the world, and also the most actively traded.
The Standard & Poor's Depositary Receipts were launched by Boston asset manager SSgA State Street Global Advisors on January 29, 1993 as the first exchange-traded fund in the United States (preceded by the short-lived Index Participation Shares that launched in 1989); and are part of the SPDRs ETF chain. Designed and developed by American Stock Exchange executives Nathan Most and Steven Bloom, the fund first traded on that market, but has since been listed elsewhere, including the New York Stock Exchange (NYSE Arca: SPY).
According to web glossary InvestorWords.com:
One SPDR unit is valued at approximately 1/10 of the value of the S&P 500. Dividends are distributed quarterly, and are based on the accumulated stock dividends held in trust, less any expenses of the trust.
Other ETFs that are based on the S&P 500 index include:
- Vanguard S&P 500 ETF (NYSE Arca: VOO)
- iShares S&P 500 Index (NYSE Arca: IVV)
- Guggenheim S&P 500 Equal Weight (NYSE Arca: RSP) (this etf uses an equal-weighted version of the index)
Inverse leveraged 200%
Inverse leveraged 300%
- What is a spider and why should I buy one? Investopedia
- "Largest ETFs: Top 25 ETFs By Market Cap". ETFdb. Retrieved 2010-11-03.
- ETP Landscape Industry Highlights Black Rock
- John C. Bogle, 'Value' Strategies, Wall Street Journal (Feb. 9, 2007).
- Wilfred Dellva, Exchange-Traded Funds Not for Everyone, Journal of Financial Planning (Apr. 2001).
- Jennifer Bayot (2004-12-10). "Nathan Most Is Dead at 90; Investment Fund Innovator". New York Times. Retrieved 2008-04-23.
- Carrel, Lawrence (2008), ETFs for the Long Run, John Wiley & Sons, 2008, ISBN 978-0-470-13894-6
- "SPDR". InvestorWords.com, WebFinance, Inc. Retrieved 2008-04-23.
- Vanguard page on VOO
- iShares page on IVV
- Rydex page on RSP
- ProShares page on SH
- ProShares page on SSO
- Rydex page on RSU
- ProShares page on SDS
- Rydex page on RSW
- ProShares page on UPRO
- ProShares page on SPXU