SPY
SPDR S&P 500 ETF Trust

Price: $391.86
Change: $16.46 (-0.04%)
Category: Large Cap Growth Equities
Last Updated:

Vitals

Issuer State Street
Brand SPDR
Structure UIT
Expense Ratio 0.09%
ETF Home Page Home page
Inception Jan 22, 1993
Index Tracked S&P 500 Index

Analyst Report

SPY is one of the largest and most heavily-traded ETFs in the world, offering exposure to one of the most well known equity benchmarks. While SPY certainly may have appeal to investors seeking to build a long-term portfolio and include large cap U.S. stocks, this fund has become extremely popular with more active traders as a way to toggle between risky and safe assets. A look at SPY’s daily turnover reveals the short average holding period and the popularity with active traders.


For those seeking to establish exposure to large cap U.S. stocks, the liquidity of SPY (including the deep options market) is unrivaled. Spreads are always very narrow, and investors can move in and out of this fund with ease. But for those looking to establish a longer-term portfolio, there may be better options within the Large Cap Blend ETFdb Category. In fact, other ETFs targeting the S&P 500 may be more appealing for buy-and-holders. Vanguard’s VOO is cheaper by a few basis points, while iShares’ IVV is another option. The advantage of these funds is structural in nature; SPY is a UIT, which means it doesn’t maintain the flexibility to lend out shares or reinvest dividends. Over the long run, those limitations may allow true ETFs such as VOO and IVV to add a few additional basis points to the bottom line. Another potentially intriguing alternative is RSP, which holds the same companies as SPY but assigns an equal weighting to each. Historically, RSP has performed quite well, generating alpha with surprising consistency.


SPY is a fine ETF, and is particularly useful for those looking to execute a trade quickly and efficiently. But those in it for the long run have better options available.

ETF Database Themes

Category Large Cap Growth Equities
Asset Class Equity
Asset Class Size Large-Cap
Asset Class Style Blend
Region (General) North America
Region (Specific) U.S.

FactSet Classifications

Segment Equity: U.S. - Large Cap
Category Size and Style
Focus Large Cap
Niche Broad-based
Strategy Vanilla
Weighting Scheme Market Cap

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $385.15
  • 52 Week Hi $478.50
  • AUM $365,327.0 M
  • Shares 895.1 M

Historical Trading Data

  • 1 Month Avg. Volume 116,951,088
  • 3 Month Avg. Volume 109,275,632

Alternative ETFs in the ETF Database Large Cap Growth Equities Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest SFY 0.00% $368.8 M 144,761 -20.91%
Largest (AUM) IVV 0.03% $295.2 B 8 M -17.22%
Most Liquid (Volume) QQQ 0.20% $166.8 B 83 M -26.73%
Top YTD Performer RFDA 0.52% $113.3 M 6,887 -2.58%

Alternative ETFs in the FactSet Equity: U.S. - Large Cap Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest BKLC 0.00% $469.3 M 54,424 -19.15%
Largest (AUM) IVV 0.03% $295.2 B 8 M -17.22%
Most Liquid (Volume) QQQ 0.20% $166.8 B 83 M -26.73%
Top YTD Performer SPHD 0.30% $4.0 B 2 M 4.17%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

SPY ETF Database Category Average FactSet Segment Average
Number of Holdings 507 375 141
% of Assets in Top 10 26.83% 37.50% 54.95%
% of Assets in Top 15 32.36% 45.38% 59.37%
% of Assets in Top 50 53.40% 72.69% 76.00%

Size Comparison

SPY ETF Database Category Average FactSet Segment Average
Large (>12.9B) 98.55% 86.51% 51.09%
Mid (>2.7B) 1.45% 6.32% 3.31%
Small (>600M) 0.00% 0.89% 0.08%
Micro (<600M) 0.00% 0.09% 0.01%

SPY Valuation

This section compares the P/E ratio of this ETF to its peers.

SPY
P/E Ratio
21.70
ETF Database Category Average
P/E Ratio
26.64
FactSet Segment Average
P/E Ratio
19.90

SPY Dividend

This section compares the dividend yield of this ETF to its peers.

SPY ETF Database Category Average FactSet Segment Average
Dividend $ 1.43 $ 0.28 $ 0.15
Dividend Date 2021-09-17 N/A N/A
Annual Dividend Rate $ 5.66 $ 0.83 $ 0.50
Annual Dividend Yield 1.22% 1.07% 0.80%

SPY Price and Volume Charts

View charts featuring SPY price and volume data.

SPY Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: -1.89 B 1 Month Net Flows: -2.53 B 3 Month Net Flows: -951.5 M 6 Month Net Flows: -4.24 B 1 Year Net Flows: 15.04 B 3 Year Net Flows: -161.5 M 5 Year Net Flows: -12.13 B 10 Year Net Flows: 33.25 B

SPY Price vs Flows AUM Influence Charts

View charts that break down the influence that fund flows and price had on overall assets.

Realtime Rating

The adjacent table shows a Realtime Rating for several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, highlights the best rated ETF in the Large Cap Growth Equities category for each metric. To view information on how the ETF Database Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity A+ n/a
Expenses A n/a
Performance B+ n/a
Volatility B n/a
Dividend A- n/a
Concentration B+ n/a

A+ Overall Rated ETF: QQQM

SPY Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

SPY
Expense Ratio
0.09%
ETF Database Category Average
Expense Ratio
0.37%
FactSet Segment Average
Expense Ratio
0.72%

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Qualified dividends
Distributes K1 No
ESG Themes and Scores
7.88/10
ESG Score
69.29%
Global Percentile
65.79%
Peer Percentile
Environmental
Social
Governance
  • Environmental Scores
    • Revenue Exposure to Environmental Impact (%)
      3.27%
      Higher is better, no ESG score impact
    • Severe Environment Controversies (%)
      1.74%
      Lower improves ESG score
    • Sustainable Impact Solutions (%)
      5.42%
      Higher is better, no ESG score impact
    Carbon Intensity
    • Weighted Average Carbon Intensity (Tons of CO2e / $M Sales)
      139.74
      Higher is worse, no ESG score impact
    Fossil Fuel Reserves
    • Fossil Fuel Reserves (%)
      5.51%
      Higher is worse, no ESG score impact
    • High Impact Fossil Fuel Reserves (%)
      5.33%
      Higher is worse, no ESG score impact
    Water Stress
    • Water Stress High Risk Business Segment (%)
      6.03%
      Lower improves ESG score
    • Water Stress High Risk Geography (%)
      0.62%
      Lower improves ESG score
    • Water Stress Exposure Moderate (%)
      25.48%
      Lower improves ESG score
    • Water Stress Exposure High (%)
      5.33%
      Lower improves ESG score
    • Water Stress Exposure Low (%)
      67.56%
      Higher improves ESG score
    Energy Efficiency
    • Revenue Exposure to Energy Efficiency (%)
      2.53%
      Higher is better, no ESG score impact
    Alternative Energy
    • Revenue Exposure to Alternative Energy (%)
      0.29%
      Higher is better, no ESG score impact
    Green Building
    • Revenue Exposure to Green Building (%)
      0.2%
      Higher is better, no ESG score impact
    Pollution Prevention
    • Revenue Exposure to Pollution Prevention (%)
      0.15%
      Higher is better, no ESG score impact
    Water Sustainability
    • Revenue Exposure to Water Sustainability (%)
      0.07%
      Higher is better, no ESG score impact
  • Social Scores
    • Revenue Exposure to Social Impact (%)
      2.15%
      Higher is better, no ESG score impact
    • Sustainable Impact Solutions (%)
      5.42%
      Higher is better, no ESG score impact
    • SRI Exclusion Criteria (%)
      6.24%
      Higher is worse, no ESG score impact
    Affordable Real Estate
    • Revenue Exposure to Affordable Real Estate (%)
      0.08%
      Higher is better, no ESG score impact
    Education
    • Revenue Exposure to Education (%)
      0.0%
      Higher is better, no ESG score impact
    Major Disease Treatment
    • Revenue Exposure to Major Disease Treatment (%)
      1.47%
      Higher is better, no ESG score impact
    Healthy Nutrition
    • Revenue Exposure to Nutrition (%)
      0.26%
      Higher is better, no ESG score impact
    Global Sanitation
    • Revenue Exposure to Sanitation (%)
      0.29%
      Higher is better, no ESG score impact
    SME Finance
    • Revenue Exposure to SME Finance (%)
      0.04%
      Higher is better, no ESG score impact
    Human Rights Violations
    • Human Rights Norms Violation (%)
      0.19%
      Higher is worse, no ESG score impact
    • Human Rights Norms Violation OR Watch List (%)
      15.88%
      Higher is worse, no ESG score impact
    • Severe Human Rights Controversies (%)
      3.73%
      Lower improves ESG score
    Labor Rights Violations
    • Labor Norms Violation (%)
      0.19%
      Higher is worse, no ESG score impact
    • Labor Norms Violation OR Watch List (%)
      14.19%
      Higher is worse, no ESG score impact
    • Severe Labor Controversies (%)
      28.89%
      Lower improves ESG score
    Customer Controversies
    • Severe Customer Controversies (%)
      15.74%
      Lower improves ESG score
    UN Principles Violations
    • Global Compact Compliance Violation (%)
      0.19%
      Higher is worse, no ESG score impact
    • Global Compact Compliance Violation OR Watch List (%)
      16.04%
      Higher is worse, no ESG score impact
    Catholic Values
    • Catholic Values Fail (%)
      18.99%
      Higher is worse, no ESG score impact
    Sharia Compliant Investing
    • Islamic Non-Compliant (%)
      76.87%
      Higher is worse, no ESG score impact
    Adult Entertainment
    • Adult Entertainment Involvement (%)
      5.86%
      Higher is worse, no ESG score impact
    Alcohol
    • Alcohol Involvement (%)
      13.53%
      Higher is worse, no ESG score impact
    Gambling
    • Gambling Involvement (%)
      3.28%
      Higher is worse, no ESG score impact
    Nuclear Power
    • Nuclear Power Involvement (%)
      4.02%
      Higher is worse, no ESG score impact
    Tobacco
    • Tobacco Involvement (%)
      7.01%
      Higher is worse, no ESG score impact
    Weapons Involvement
    • Weapons Involvement (%)
      6.23%
      Higher is worse, no ESG score impact
    • Controversies Weapons Involvement (%)
      0.92%
      Higher is worse, no ESG score impact
    Firearms
    • Civilian Firearms Involvement (%)
      0.52%
      Higher is worse, no ESG score impact
    • Civilian Firearms Retailer (%)
      0.52%
      Higher is worse, no ESG score impact
    • Civilian Firearms Producer (%)
      0.0%
      Higher is worse, no ESG score impact
    Predatory Lending
    • Direct Predatory Lending Involvement (%)
      0.0%
      Higher is worse, no ESG score impact
    GMO Involvement
    • Genetic Engineering Involvement (%)
      0.78%
      Higher is worse, no ESG score impact
  • Responsible Governance Score
    • Severe Governance Controversies (%)
      7.25%
      Lower improves ESG score
    Board Flag
    • Board Flag (%)
      12.47%
      Lower improves ESG score
    Board Independence
    • Lack of Independent Board Majority (%)
      4.05%
      Lower improves ESG score
    • Board Independence (0-25%) (%)
      0.0%
      Lower improves ESG score
    • Board Independence (25-50%) (%)
      4.05%
      Lower improves ESG score
    • Board Independence (50-75%) (%)
      18.47%
      Higher improves ESG score
    • Board Independence (75-100%) (%)
      76.51%
      Higher improves ESG score
    Board Diversity
    • No Female Directors (%)
      0.0%
      Lower improves ESG score
    • Three OR More Female Directors (%)
      91.2%
      Higher improves ESG score
    • Females Represent 30% of Directors (%)
      64.8%
      Higher improves ESG score
    Entrenched Board
    • Entrenched Board (%)
      32.39%
      Lower improves ESG score
    Overboarding
    • Overboarding (%)
      57.56%
      Lower improves ESG score
    Shareholder Rights
    • Negative Director Votes (%)
      54.59%
      Lower improves ESG score
    • Ownership AND Control Flag (%)
      18.86%
      Lower improves ESG score
    • One Share One Vote (%)
      17.47%
      Lower improves ESG score
    • No Annual Director Elections (%)
      9.07%
      Lower improves ESG score
    • Does Not Use Majority Voting (%)
      92.02%
      Lower improves ESG score
    • Significant Votes Against Pay Practices (%)
      39.72%
      Lower improves ESG score
    Fund Ownership
    • Controlling Shareholder (%)
      10.62%
      Lower improves ESG score
    • Controlling Shareholder Concerns (%)
      6.75%
      Lower improves ESG score
    • Cross Shareholdings (%)
      0.0%
      Lower improves ESG score
    Poison Pill
    • Poison Pill (%)
      0.17%
      Lower improves ESG score
    Executive Compensation
    • Pay Flag (%)
      0.66%
      Lower improves ESG score
    • No Pay Performance Link (%)
      3.54%
      Lower improves ESG score
    • Lack of Internal Pay Equity (%)
      35.62%
      Lower improves ESG score
    • Executive Pay Non-Disclosure (%)
      0.11%
      Lower improves ESG score
    Accounting Flags
    • Accounting Flag (%)
      21.6%
      Lower improves ESG score

SPY Performance

This section shows how this ETF has performed relative to its peers.

SPY ETF Database
Category Average 		Factset Segment
Average
1 Month Return -10.49% -12.14% -7.61%
3 Month Return -10.06% -13.00% -6.95%
YTD Return -17.24% -22.00% -11.57%
1 Year Return -3.62% -10.56% -2.68%
3 Year Return 44.01% 25.25% 13.69%
5 Year Return 81.33% 36.91% 16.93%

Geographic Exposure

The following charts reflect the geographic spread of SPY's underlying holdings.

Region Percentage
North, Central and South America 99.73%
Other 0.11%
Country Percentage
United States 96.7%
Ireland 1.69%
United Kingdom 0.7%
Switzerland 0.43%
Netherlands 0.14%
Other 0.11%
Israel 0.04%
Bermuda 0.03%

Holdings Analysis

The following charts reflect the allocation of SPY's underlying holdings.

Sector Percentage
Technology Services 17.27%
Electronic Technology 14.91%
Finance 14.02%
Health Technology 10.9%
Retail Trade 7.5%
Consumer Non-Durables 5.74%
Energy Minerals 3.97%
Producer Manufacturing 3.76%
Consumer Services 3.53%
Utilities 2.92%
Consumer Durables 2.88%
Health Services 2.72%
Process Industries 2.29%
Commercial Services 1.98%
Transportation 1.83%
Communications 1.26%
Industrial Services 1.04%
Distribution Services 0.68%
Non-Energy Minerals 0.53%
CASH 0.11%
Market Cap Percentage
Large 98.55%
Mid 1.45%
Small 0.0%
Micro 0.0%
Region Percentage
Asset Percentage
Share/Common/Ordinary 99.73%
CASH 0.11%
 
View Less Charts
 
Sector Percentage
Technology Services 17.27%
Electronic Technology 14.91%
Finance 14.02%
Health Technology 10.9%
Retail Trade 7.5%
Consumer Non-Durables 5.74%
Energy Minerals 3.97%
Producer Manufacturing 3.76%
Consumer Services 3.53%
Utilities 2.92%
Consumer Durables 2.88%
Health Services 2.72%
Process Industries 2.29%
Commercial Services 1.98%
Transportation 1.83%
Communications 1.26%
Industrial Services 1.04%
Distribution Services 0.68%
Non-Energy Minerals 0.53%
CASH 0.11%
 
View More Charts
 

SPY Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility 7.58%
20 Day Volatility 34.35%
50 Day Volatility 27.14%
200 Day Volatility 23.87%
Beta 0.99
Standard Deviation 18.10%
 
View Detailed Analysis
 
5 Day Volatility
7.58%
Rank
208 of 210
Low
GSLC (2.37%)
High
ARKW (572.03%)
20 Day Volatility
34.35%
Rank
123 of 210
Low
NUSI (9.94%)
High
ARKF (91.78%)
50 Day Volatility
27.14%
Rank
132 of 210
Low
CCOR (14.39%)
High
ARKF (82.29%)
200 Day Volatility
23.87%
Rank
139 of 210
Low
NUSI (14.85%)
High
ARKF (71.71%)
Beta
0.99
Rank
111 of 208
Low
NUSI (0.44)
High
BUZZ (1.83)
Standard Deviation
18.10%
Rank
8 of 206
Low
AESR (0.52%)
High
PNQI (40.93%)

 
View Summary Analysis
 

Technicals

  • 20 Day MA $411.76
  • 60 Day MA $430.09
  • MACD 15 Period -15.42
  • MACD 100 Period -47.47
  • Williams % Range 10 Day 83.16
  • Williams % Range 20 Day 89.65
  • RSI 10 Day 36
  • RSI 20 Day 38
  • RSI 30 Day 40
  • Ultimate Oscillator 43

Bollinger Bands

  • Lower Bollinger (10 Day) $387.57
  • Upper Bollinger (10 Day) $415.84
  • Lower Bollinger (20 Day) $386.23
  • Upper Bollinger (20 Day) $438.30
  • Lower Bollinger (30 Day) $386.31
  • Upper Bollinger (30 Day) $458.80

Support & Resistance

  • Support Level 1 $387.01
  • Support Level 2 $382.15
  • Resistance Level 1 $400.26
  • Resistance Level 2 $408.65

Stochastic

  • Stochastic Oscillator %D (1 Day) 46.74
  • Stochastic Oscillator %D (5 Day) 53.56
  • Stochastic Oscillator %K (1 Day) 51.20
  • Stochastic Oscillator %K (5 Day) 48.47

Tradability

  • Tracking Difference Median (%) -0.14
  • Tracking Difference Max Upside (%) -0.07
  • Tracking Difference Max Downside (%) -0.20
  • Median Premium Discount (%) 0.01
  • Maximum Premium Discount (%) 0.09
  • Average Spread (%) 1.47
  • Average Spread ($) 1.47

Financial Advisor Report

ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.

Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.

Download the Fact Sheet PDF

Data Lineage

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.

Disclosures

Copyright © 2022 FactSet Research Systems Inc. All rights reserved.

Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
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