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.
US
EQUITY
Passive
MANAGEMENT STYLE
571.1 B
ASSETS UNDER MGMT
9 bp
EXPENSES
Fund Basics
Fund sponsor | State Street Global Advisors |
Category | US |
Asset class | Equity |
Website | link... |
Inception date | Jan 22, 1993 |
Assets (mns) | $571,079 |
Expense ratio | 9 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Unit Investment Trust |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Committee |
Weighting | Market Cap |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
Complete list +
APPLE INC | 6.9 % |
MICROSOFT CORP | 6.8 % |
NVIDIA CORP | 6.0 % |
AMAZON.COM INC | 3.7 % |
META PLATFORMS INC | 2.6 % |
ALPHABET INC. CLASS A | 2.0 % |
BERKSHIRE HATHAWAY INC-CL B | 1.7 % |
ALPHABET INC. CLASS C | 1.7 % |
BROADCOM INC. | 1.6 % |
ELI LILLY & CO | 1.5 % |
Constituent Breakdown
Number of holdings | 503 |
Herfindahl-Hirschman Index | 187 |
Wgt avg mkt cap (mns) | $833,082 |
Large cap (>$10bn) | 99.4% |
Mid cap ($2-10bn) | 0.4% |
Small cap (<$2bn) | 0.0% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
UNITED STATES | 96.9 % | |
IRELAND | 1.6 % | |
BRITAIN | 0.7 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
Total Returns | 21.8% | 36.5% | 28.8% | 11.9% | 16.0% | 13.3% | 10.5% | Volatility | 11.1% | 11.3% | 16.8% | 17.2% | 20.9% | 17.5% | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.99 | 100% |
MSCI EAFE | 0.87 | 75% |
MSCI Emg Mkts | 0.67 | 43% |
Liquidity Measures
Avg. volume (000) | 49,915 |
Turnover | 5.0% |
Avg. Bid/Ask (% of price) | 0.00% |
ADV of underlying (mns) | $223,515 |
Technical Indicators
Recent close | $572.98 |
30d moving avg. | $559.00 |
Annualized volatility | 17.8% |
Relative strength (RSI) | 40 |
Short interest (ETF) | 10.4% |
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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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. SPY |
Expenses vs. SPY |
ALTAR Score™ vs. SPY |
---|---|---|---|---|
IVV | iShares Core S&P 500 ETF | 99.8% | -6 bp | +0.1% |
VOO | Vanguard S&P 500 ETF | 99.7% | -6 bp | +0.1% |
SPLG | SPDR Portfolio S&P 500 ETF | 99.6% | -7 bp | +0.1% |
SPYX | SPDR S&P 500 Fossil Fuel Reserves Free ETF | 97.1% | +11 bp | -0.1% |
PBUS | Invesco MSCI USA ETF | 96.8% | -5 bp | +0.0% |
VV | Vanguard Large-Cap ETF | 96.6% | -5 bp | 0.0% |
STRV | Strive 500 ETF | 95.6% | -4 bp | +0.0% |
SPXE | ProShares S&P 500 Ex-Energy ETF | 94.9% | 0 bp | -0.1% |
ILCB | iShares Morningstar U.S. Equity ETF | 94.9% | -6 bp | +0.0% |
VOTE | TCW Transform 500 ETF | 94.5% | -4 bp | 0.0% |
Risk and Returns: SPY vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
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 | --% |
Based on closing prices from 10/4/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
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 Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
SPY
5.0%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 936 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.4%. SPY's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places SPY in the 41st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
SPYSELL
U/W
HOLD
O/W
BUY
Expense Analysis
Peer Group | Passive US Equity ETFs |
# of ETFs | 192 |
Avg. Expense Ratio | 31.0 bp |
Std. Deviation | 25.7 bp |
SPY (9 bp) Percentile rank | 20 |
Peer Group Expense Ratio Distribution
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. | 25.6 | 9.3 | 34.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .