SPY
SPDR S&P 500 ETF
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
704.6 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) | $704,631 |
| 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 +
| NVIDIA CORP | 8.0 % |
| APPLE INC | 6.9 % |
| MICROSOFT CORP | 6.4 % |
| AMAZON.COM INC | 4.1 % |
| BROADCOM INC. | 2.9 % |
| ALPHABET INC. CLASS A | 2.8 % |
| META PLATFORMS INC | 2.3 % |
| ALPHABET INC. CLASS C | 2.3 % |
| TESLA MOTORS INC | 2.1 % |
| BERKSHIRE HATHAWAY INC-CL B | 1.6 % |
Constituent Breakdown
| Number of holdings | 503 |
| Herfindahl-Hirschman Index | 226 |
| Wgt avg mkt cap (mns) | $1,448,914 |
| Large cap (>$10bn) | 99.3% |
| Mid cap ($2-10bn) | 0.5% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.8% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 97.4 % |
 |
IRELAND | 1.4 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 16.4% | 19.9% | 27.7% | 20.9% | 15.9% | 12.6% | 9.1% | 8.7% |
| Dividend Yield | 0.7% | 1.1% | 1.5% | 1.6% | 1.6% | 1.9% | 2.0% | 2.0% |
| Total Returns | 17.1% | 21.1% | 29.2% | 22.4% | 17.4% | 14.5% | 11.1% | 10.7% | Ann. Volatility | 20.6% | 19.6% | 16.3% | 16.1% | 17.2% | 18.1% | 19.4% | 18.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.99 | 99% |
| MSCI EAFE | 0.51 | 35% |
| MSCI Emg Mkts | 0.38 | 22% |
Liquidity Measures
| Avg. volume (000) | 81,789 |
| ADV traded (mns) | $55,734 |
| Turnover | 7.9% |
| Avg. Bid/Ask (% of price) | 0.00% |
Technical Indicators
| Recent close | $681.44 |
| 30d moving avg. | $671.62 |
| Annualized volatility | 12.8% |
| Relative strength (RSI) | 55 |
| Short interest | 9.7% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| IVV | iShares Core S&P 500 ETF | 99.6% | -6 bp | +4.8% |
| SPYM | State Street SPDR Portfolio S&P 500 ETF | 99.6% | -7 bp | +4.9% |
| VOO | Vanguard S&P 500 ETF | 98.4% | -6 bp | +4.8% |
| SPYX | State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF | 97.1% | +11 bp | +4.6% |
| BBUS | JP Morgan Betabuilders U.S. Equity ETF | 96.5% | -7 bp | +4.9% |
| VOTE | TCW Transform 500 ETF | 96.5% | -4 bp | +4.8% |
| BKLC | BNY Mellon US Large Cap Core Equity ETF | 96.3% | -9 bp | +4.8% |
| STRV | Strive 500 ETF | 96.2% | -4 bp | +4.7% |
| VV | Vanguard Large-Cap ETF | 96.1% | -5 bp | +4.7% |
| ILCB | iShares Morningstar U.S. Equity ETF | 95.9% | -6 bp | +4.8% |
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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 11/11/2025
Peer Group Comparison Sample data. Subscribe for access.
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
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
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.
ALTAR Score™
SPY
4.8%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 998 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. SPY's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places SPY in the 36th 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