SPDR

Last updated

SPDR funds (pronounced "spider" [1] ) are a family of exchange-traded funds (ETFs) traded in the United States, Europe, Mexico and Asia-Pacific and managed by State Street Global Advisors (SSGA). Informally, they are also known as Spyders or Spiders. SPDR is a trademark of Standard and Poor's Financial Services LLC, [2] a subsidiary of S&P Global. The name is an acronym for the first member of the family, the Standard & Poor's Depositary Receipts, now the SPDR S&P 500 Trust ETF, which is designed to track the S&P 500 stock market index.

Contents

For a long time,[ clarification needed ] the SPDR S&P 500 was the largest ETF in the world. SSGA also manage the SPDR Gold Shares, which for a while[ clarification needed ] was the second-largest ETF in the world. [3] As of August 2012, they were the first and second largest exchange-traded products in the world. [4]

The funds are formulated as unit investment trusts. In 2007, SSGA rebranded its other United States ETFs as SPDRs, including the StreetTRACKS family and its other flagship ETF shares, the DOW DIAMONDS, that tracks the Dow Jones Industrial Average. This move united all U.S. ETFs managed by SSGA, a total of 23 at that time, under a single brand. [5] At the end of 2006, the total portfolio that became known as SPDRs had $102 billion of assets under management. [5]

As of Dec 2019, SPDR is the third largest ETF provider, behind iShares and Vanguard, with assets of $714 bn. [6]

Other funds

In 1995, Mid-Cap SPDRs were launched by the Bank of New York to track Standard & Poor's S&P 400 index of middle-market equity shares. [7] [8]

The DIAMONDS were developed, like the original SPDR, by SSGA in cooperation with the American Stock Exchange. [7] DOW DIAMOND shares are designed to track the Dow Jones Industrial Average.

In 1998, SSGA and Merrill Lynch introduced the Sector Spiders, which now consist of ten funds which follow the eleven GICS sectors of the S&P 500. [9] [10] Because the S&P 500 contains only four telecommunications companies, those companies are a part of the information technology SPDR, and that one fund represents those two sectors.

SSGA also launched a number of index-based ETFs under the brand StreetTRACKS. These were renamed SPDRs in 2007.

SSGA also manages ETFs that are sold on exchanges outside the United States.

In Australia SSGA manages three SPDR branded ETFs. They are listed on the Australian Securities Exchange and are the following:

Selected funds

See also

Related Research Articles

<span class="mw-page-title-main">NYSE American</span> Stock exchange located in New York City

NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange situated in New York City. AMEX was previously a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange.

An index fund is a mutual fund or exchange-traded fund (ETF) designed to follow certain preset rules so that it can replicate the performance ("track") of a specified basket of underlying investments. While index providers often emphasize that they are for-profit organizations, index providers have the ability to act as "reluctant regulators" when determining which companies are suitable for an index. Those rules may include tracking prominent indexes like the S&P 500 or the Dow Jones Industrial Average or implementation rules, such as tax-management, tracking error minimization, large block trading or patient/flexible trading strategies that allow for greater tracking error but lower market impact costs. Index funds may also have rules that screen for social and sustainable criteria.

An exchange-traded fund (ETF) is a type of investment fund and exchange-traded product, i.e. they are traded on stock exchanges.

<span class="mw-page-title-main">S&P Europe 350</span>

The S&P Europe 350 Index is a stock index of European stocks.

iShares S&P 100 Index Fund is an exchange-traded fund of US stocks. The fund tracks the S&P 100 index.

iShares Family of exchange-traded funds (ETFs) managed by BlackRock

iShares is a collection of exchange-traded funds (ETFs) managed by BlackRock, which acquired the brand and business from Barclays in 2009. The first iShares ETFs were known as World Equity Benchmark Shares (WEBS) but have since been rebranded.

State Street Global Advisors (SSGA) is the investment management division of State Street Corporation and the world's fourth largest asset manager, with nearly $4.14 trillion (USD) in assets under management as of 31 December 2021.

An inverse exchange-traded fund is an exchange-traded fund (ETF), traded on a public stock market, which is designed to perform as the inverse of whatever index or benchmark it is designed to track. These funds work by using short selling, trading derivatives such as futures contracts, and other leveraged investment techniques.

The S&P/ASX 300, or simply, ASX 300, is a stock market index of Australian stocks listed on the Australian Securities Exchange (ASX). The index is market-capitalisation weighted, meaning each company included is in proportion to the indexes total market value, and float-adjusted, meaning the index only considers shares available to public investors.

The S&P MidCap 400 Index, more commonly known as the S&P 400, is a stock market index from S&P Dow Jones Indices. The index serves as a gauge for the U.S. mid-cap equities sector and is the most widely followed mid-cap index. It is part of the S&P 1500, which also includes the S&P 500 for larger U.S. based companies, and the S&P 600 for smaller companies though all three indices include a handful of foreign stocks that trade on the U.S. stock exchanges.

The S&P SmallCap 600 Index is a stock market index established by S&P Global Ratings. It covers roughly the small-cap range of American stocks, using a capitalization-weighted index.

<span class="mw-page-title-main">SPDR Gold Shares</span>

SPDR Gold Shares is part of the SPDR family of exchange-traded funds (ETFs) managed and marketed by State Street Global Advisors. For a few years, the fund was the second-largest exchange-traded fund in the world, and it was briefly the largest. As of the close of 2014, it dropped out of the top ten.

<span class="mw-page-title-main">Invesco PowerShares</span>

Invesco PowerShares is an American boutique investment management firm based near Chicago which manages a family of exchange-traded funds or ETFs. The company has been part of Invesco, which markets the PowerShares product, since 2006.

Real Assets is an investment asset class that covers investments in physical assets such as real estate, energy, and infrastructure. Real assets have an inherent physical worth. Real assets differ from financial assets in that financial assets get their value from a contractual right and are typically intangible.

Hayne Leland is an economist and professor emeritus at the University of California, Berkeley. Prior to becoming emeritus, he was the Arno Rayner Professor of Finance at the Haas School of Business. Before joining Berkeley, Leland was an assistant professor in economics at Stanford University, and he has held visiting professorships at the University of California, Los Angeles and the University of Cambridge. He received his A.B. from Harvard College, followed by an M.Sc.(Econ) at the London School of Economics and a Ph.D. in economics from Harvard. He received an honorary doctorate degree from the University of Paris (Dauphine) in 2007.

The communication services sector reshuffle is a reorganisation of the S&P 500 Index services centre in the United States. It took place on September 21, 2018.

References

  1. ↑ "Ask the Fool". Fort Myers Weekly. The Motley Fool. 2018-07-11. Retrieved 2018-07-11.
  2. ↑ "Trademark search on SPDR". United States Patent and Trademark Office. Retrieved 11 January 2010.
  3. ↑ "Largest ETFs: Top 25 ETFs By Market Cap". ETFdb. Retrieved 2010-11-03.
  4. ↑ "Blackrock ETP Landscape Industry Highlights" (PDF). BlackRock. Retrieved 2013-07-09.
  5. 1 2 "Spyders widen web". TheStreet.com. 2007-01-08. Archived from the original on 2009-03-10. Retrieved 2009-02-12.
  6. ↑ ETF League Table As Of Dec. 24, 2019
  7. 1 2 Gastineau, Gary (2002). The Exchange-Traded Funds Manual. John Wiley and Sons. p. 35. ISBN   0-471-22092-2 . Retrieved 2008-04-24.
  8. ↑ "About MidCap Spiders". American Stock Exchange . Retrieved 2008-04-24.
  9. ↑ Ferri, Richard A. (2008). The ETF Book, John Wiley and Sons, 191 ISBN   0-470-13063-6.
  10. ↑ Gastineau, Gary (2002). The Exchange-Traded Funds Manual. John Wiley and Sons. p. 37. ISBN   0-471-22092-2 . Retrieved 2008-04-24.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.