SPDR S&P 500 Trust ETF

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Monthly SPY Chart 1993 to 2013

The SPDR S&P 500 trust is an exchange-traded fund which trades on the NYSE Arca under the symbol (NYSE ArcaSPY). SPDR is an acronym for the Standard & Poor's Depositary Receipts, the former name of the ETF. It is designed to track the S&P 500 stock market index. This fund is the largest ETF in the world. SPDR is a trademark of Standard and Poor's Financial Services LLC,[1] a subsidiary of S&P Global. The ETF's CUSIP is 78462F103.[2] The fund has a Net Expense Ratio of 0.0945%.[3] The value of one share of the ETF is worth approximately 1/10 of the cash S&P 500's current level. On April 9, 2013 the average daily volume was 117 million shares, the highest volume in any ETF. The sponsor is SPDR Services LLC, a wholly owned subsidiary of American Stock Exchange LLC. Dividends are distributed quarterly, and are based on the accumulated stock dividends held in trust, less any expenses of the trust.

History[edit]

The Standard & Poor's Depositary Receipts were launched by Boston asset manager State Street Global Advisors (SSgA) on January 22, 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.[4][5][6] Designed and developed by American Stock Exchange executives Nathan Most and Steven Bloom,[7][8] the fund first traded on that market, but has since been listed elsewhere, including the New York Stock Exchange (NYSE ArcaSPY).

Competition[edit]

Other ETFs that are based on the S&P 500 index include:


See also[edit]

References[edit]

  1. ^ "Trademark search on SPDR". United States Patent and Trademark Office. Retrieved 8 April 2013.
  2. ^ "SPDR® S&P 500® ETF". State Street Global Advisers. Retrieved 8 April 2013.
  3. ^ "SPDR® S&P 500® ETF". State Street Global Advisers. Retrieved 8 April 2013.
  4. ^ John C. Bogle, 'Value' Strategies, Wall Street Journal (Feb. 9, 2007).
  5. ^ Wilfred Dellva, Exchange-Traded Funds Not for Everyone Archived 2008-07-05 at the Wayback Machine., Journal of Financial Planning (Apr. 2001).
  6. ^ Jennifer Bayot (2004-12-10). "Nathan Most Is Dead at 90; Investment Fund Innovator". New York Times. Retrieved 2008-04-23.
  7. ^ Carrel, Lawrence (2008), ETFs for the Long Run, John Wiley & Sons, 2008, ISBN 978-0-470-13894-6
  8. ^ http://ir.nasdaq.com/releasedetail.cfm?releaseid=206581
  9. ^ Vanguard page on VOO
  10. ^ iShares page on IVV