Standard & Poor's Depositary Receipts
Encyclopedia
The Standard & Poor's Depositary Receipts were launched by Boston
asset manager SSgA State Street Global Advisors
on January 29, 1993 as the first exchange-traded fund
in the United States
(preceded by the short-lived Index Participation Shares that launched in 1989); and are part of the SPDR
s ETF chain.
Designed and developed by American Stock Exchange
executives Nathan Most and Steven Bloom, the fund first traded on that market, but has since been listed elsewhere, including the New York Stock Exchange
. This specific fund is now called SPDR S&P 500 ETF. For a long time it was the largest ETF according to market capitalization
; it has since been replaced by Vanguard's VTI.
According to web glossary InvestorWords.com:
The sponsor is PDR Services LLC, a wholly owned subsidiary of American Stock Exchange LLC.
Boston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...
asset manager SSgA State Street Global Advisors
State Street Global Advisors
State Street Global Advisors is the investment management division of State Street Corporation and the world’s second largest asset manager, with $1.9 trillion in assets under management as of June 2010....
on January 29, 1993 as the first exchange-traded fund
Exchange-traded fund
An exchange-traded fund is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day. Most ETFs track an index, such as the S&P 500 or MSCI EAFE...
in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
(preceded by the short-lived Index Participation Shares that launched in 1989); and are part of the SPDR
SPDR
SPDR can mean:* Standard & Poor's Depositary Receipts, an exchange-traded fund.* "System Peril Distributed Reflex" is the name given to one of the AIs in the alternate reality game The Haunted Apiary ....
s ETF chain.
Designed and developed by American Stock Exchange
American Stock Exchange
NYSE Amex Equities, formerly known as the American Stock Exchange is an American stock exchange situated in New York. AMEX was a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange. On January 17, 2008, NYSE Euronext announced it would acquire the...
executives Nathan Most and Steven Bloom, the fund first traded on that market, but has since been listed elsewhere, including the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
. This specific fund is now called SPDR S&P 500 ETF. For a long time it was the largest ETF according to market capitalization
Market capitalization
Market capitalization is a measurement of the value of the ownership interest that shareholders hold in a business enterprise. It is equal to the share price times the number of shares outstanding of a publicly traded company...
; it has since been replaced by Vanguard's VTI.
According to web glossary InvestorWords.com:
One SPDR unit is valued at approximately 1/10 of the value of the S&P 500. DividendDividendDividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders. When a corporation earns a profit or surplus, that money can be put to two uses: it can either be re-invested in the business , or it can be distributed to...
s are distributed quarterly, and are based on the accumulated stock dividends held in trust, less any expenses of the trust.
The sponsor is PDR Services LLC, a wholly owned subsidiary of American Stock Exchange LLC.
Regular
- iShares - RydexShares (this etf uses an equal-weighted version of the index)Leveraged 200%
- RydexShares - ProSharesInverse leveraged 200%
- RydexShares - ProSharesExternal links
- Official SPDR ETFs website – State Street Global AdvisorsState Street Global AdvisorsState Street Global Advisors is the investment management division of State Street Corporation and the world’s second largest asset manager, with $1.9 trillion in assets under management as of June 2010....
- Obituary – Nathan Most – New York Times, 2004