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S&P 500 Investing &Trading System
S&P 500 Exchange Traded Funds (ETFs) & Tracking Stocks
The
Standard & Poor's 500 Index is a capitalization-weighted index of 500
stocks from a broad range of industries. The component stocks are weighted
according to the total market value of their outstanding shares. The
impact of a component's price change is proportional to the issue's total
market value, which is the share price times the number of shares
outstanding. These are summed for all 500 stocks and divided by a
predetermined base value. The base value for the S&P 500 Index is adjusted
to reflect changes in capitalization resulting from mergers, acquisitions,
stock rights, substitutions, etc.
All of the stocks in the index are those
of large publicly held companies and trade on the two largest US stock markets,
the New York Stock Exchange and Nasdaq. After the Dow Jones Industrial Average,
the S&P 500 is the most widely watched index of large-cap US stocks. It is
considered to be a bellwether for the US economy and is a component of the Index
of Leading Indicators. It is often quoted using the symbol SPX or INX, and may
be prefixed with a caret (^) or with a dollar sign ($).
The relatively compact units of ETFs
represent an opportunity for the smaller investor to achieve a performance close
to the S&P 500 Index (minus fees and expenses). They trade like any other stock
on the American Stock Exchange, so they can be bought on margin, sold short, or
held for the long term. Both the SPDRs and the iShares have a management expense
ratio of under 0.1% a year, making them an efficient proxy for the underlying
index.
S&P 500 Index iShares & ETFs
With
ETFs based on broad-market,
sector and international indexes, you have a wide range of investment
opportunities. You have the ability to establish long-term investments in
the market performance of the leading companies in the leading industries
in the United States, or you can custom tailor asset allocations using a
range of ETFs to fit your particular investment needs or goals. You can
hold
ETFs based on a broad-market index as a core investment, for example,
then use additional ETFs to increase your exposure in sector and/or
international index performance.
S&P 500 Index SPDRs Description
The
SPDR Trust Series I is a
pooled investment designed to provide investment results that generally
correspond to the price and yield performance, before fees and expenses,
of the S&P 500 Index. iShares S&P 500 Index Fund seeks investment results
that correspond generally to the price and yield performance, before fees
and expenses, of the S&P 500 Index . There is no assurance that the
performance of the S&P 500 Index can be fully matched.
Exchange Traded Funds (ETFs) & iShares
| Securities |
Issuer |
Type |
Symbol / Root |
|
S&P 500 Index Fund |
AMEX |
ETF |
IVV |
|
S&P 500/BARRA Growth Index Fund |
AMEX |
ETF |
IVW |
|
S&P 500/BARRA Value Index Fund |
AMEX |
ETF |
IVE |
|
SPDRS (Standard & Poor's Depositary Receipts) |
AMEX |
ETF |
SPY |
| S&P 500 Index Linked Notes |
Bank of America |
ETF |
BOA.A |
|
S&P 500 "MITTS" |
Merrill Lynch |
ETF |
FML |
|
S&P 500 "MITTS" |
Merrill Lynch |
ETF |
MLF |
|
S&P 500 "MITTS" |
Merrill Lynch |
ETF |
MPF |
| S&P 500 Callable Notes |
Morgan Stanley |
ETF |
JMS.A |
|
S&P 500 Index "TIERS" |
Salomon Smith Barney |
ETF |
RSB |
|
S&P 500 Principal Protected Notes |
Salomon Smith Barney |
ETF |
ASB |
| S&P 500 Index "TIERS" |
Structured Products Corp. |
ETF |
HSB |
| S&P 500 Index "TIERS" |
Structured Products Corp. |
ETF |
SRB |
| BULS linked to the S&P 500 Index |
UBS AG |
ETF |
BUL.D |
| BULS linked to the S&P 500 Index |
UBS AG |
ETF |
BUL.E |
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