It’s a great day to be an investor in the SPDR S&P 500 ETF Trust (SPY ).
As of market close on Oct. 15, 2024, SPY became the world’s first ETF to surpass $600 billion in assets under management. Now, the fund’s AUM sits at about $603 billion, as of Oct. 17, 2024. SPY attained its latest threshold after the fund saw over $7 billion in inflows this week.
“This is just one of many of firsts that are part of SPY’s legacy as the first US ETF,” noted Matthew Bartolini, managing director and head of SPDR Americas Research at State Street Global Advisors. “Beyond all the trading accolades and impressive liquidity figures that illustrate SPY’s uniqueness, flexibility, and optionality, it was the first to hit $500 billion, and now $600 billion in assets.”
A Trendsetter From Day One
A historic fund in more ways than one, SPY launched on Jan. 22, 1993. This fund was the first U.S. ETF to be listed on a national stock exchange. Ever since, SPY has remained one of the most reliable strategies for accessing the S&P 500.
With a low net expense ratio of 0.09%, SPY has remained one of the most traded ETFs in the world. Investors have continued to rely on the fund as a means to stay broadly engaged with high-performing U.S. companies.
Steadfast Strategy
No matter the economic environment, SPY has stayed at the forefront of investors’ minds. FactSet data reports that the fund has seen over $50 billion in inflows over the last year alone.
“The drivers of the recent flows that helped push the fund over its latest milestone are largely market based, grounded in technical and momentum factors as part of the recent rally,” Bartolini added. “And the continuation of this rally has led investors to put capital to work with SPY as the tool for action, given its unheralded liquidity and optionality profile that appeals to a diverse user base.”
For its investors, SPY has continued to provide robust long-term results. As of Sept. 30, 2024, SPY’s NAV has jumped more than 36% in the past year.
“SPY is the grandfather of the U.S. ETF industry and is still getting stronger every day,” noted Todd Rosenbluth, head of research at VettaFi. “For many investors, SPY remains their go-to vehicle to get equity ETF exposure. Hitting $600 billion is a key milestone.”
Year after year, State Street Global Advisors has proven itself as a reliable leader in indexing. In total, State Street’s selection of ETFs represents over $1.3 trillion in assets under management.
For more news, information, and analysis, visit VettaFi | ETFDB.
