SPY

SPDR S&P 500 ETF Trust

Standard & Poor's Depositary Receipts, represent ownership in a unit investment trust established to accumulate and hold a portfolio of the equity securities that comprise the Standard & Poor's 500 Composite Stock Price Index. The fund seeks investment results that, before expenses, generally correspond to the price and yield performance of the benchmark index.


Passive, Semi-Diverse

MANAGEMENT MATRIX

IVV

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorState Street Global Advisors
CategoryUS Equities
Asset classEquity
Websitelink...
Inception dateJan 22, 1993
Assets (mns)$500,927
Expense ratio9 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationUnit Investment Trust
DistributionsQuarterly
Taxation1099
Stock selectionCommittee
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
MICROSOFT CORP 7.2 %
APPLE INC 5.9 %
NVIDIA CORP 5.1 %
AMAZON.COM INC 3.7 %
META PLATFORMS INC 2.5 %
ALPHABET INC. CLASS A 1.9 %
BERKSHIRE HATHAWAY INC-CL B 1.7 %
ALPHABET INC. CLASS C 1.6 %
ELI LILLY & CO 1.4 %
JPMORGAN CHASE & CO 1.3 %
Constituent Breakdown
Number of holdings503
Herfindahl-Hirschman Index 171
Wgt avg mkt cap (mns)$777,433
Large cap (>$10bn)99.5%
Mid cap ($2-10bn)0.5%
Small cap (<$2bn)0.0%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 96.9 %
IRELAND 1.7 %
BRITAIN 0.7 %
Historical Performance


Standardized Annual Returns (as of 02/29/2024)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
0.0% 22.2% 6.2% 9.5% 13.2% 11.9% 10.0%
Market Correlations
versus...BetaR-squared
S&P 5001.02103%
MSCI EAFE0.9378%
MSCI Emg Mkts0.6541%
Liquidity Measures
Avg. volume (000)70,895
Turnover7.3%
Avg. Bid/Ask (% of price)0.00%
ADV of underlying (mns)$352,345
Technical Indicators
Recent close$512.86
30d moving avg.$452.68
Annualized volatility18.0%
Relative strength (RSI)80
Short interest (ETF)10.8%
Short interest (underlying)1.5%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: SPY vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
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Dividends per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2023 2024E Fwd Est 2025E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
2.8 20.5 3.8 1.4% --
Based on closing prices from 3/18/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
SPY



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

SPY

5.1%

Cat. Avg

5.8%

Fund Category: US Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™5.1%
Recommendation

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

Category Overview
There are 876 funds in the US Equities category, with an average ALTAR Score™ of 5.8% and a standard deviation of 2.8%. SPY's ALTAR Score™ is approximately 0.3 standard deviations below the category average. This places SPY in the 40th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
SPY
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
Latest price
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Volume
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
SPY 9.5 0.2 9.65
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.