SPDR S&P 500

The SPDR S&P 500 trust is an exchange-traded fund which trades on the NYSE Arca under the symbol (NYSE Arca: SPY). 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, a subsidiary of S&P Global. The ETF's CUSIP is 78462F103. The fund and has a Net Expense Ratio of 0.0945%. 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 PDR Services LLC, a wholly owned subsidiary of . Dividends are distributed quarterly, and are based on the accumulated stock dividends held in trust, less any expenses of the trust.

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. Designed and developed by executives Nathan Most and Steven Bloom, the fund first traded on that market, but has since been listed elsewhere, including the (NYSE Arca: SPY).

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

¹This ETF weights all the stocks in the S&P 500 equally.

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