SPDR S&P 500 ETF (SPY) overview
SPY is the world’s oldest and largest ETF, launched by State Street in 1993 to track the S&P 500 index. With $500+ billion in assets, it is the deepest-liquidity equity ETF on the planet and the default vehicle for US equity exposure among institutional and retail traders alike.
Key facts
- Tracks: S&P 500 index (top 500 US companies by market cap)
- Expense ratio: 0.0945% (one of the lowest equity ETF fees)
- Dividend yield: ~1.3% (paid quarterly)
- Trading volume: typically $20-30bn / day — the most-traded security on US exchanges
- Options market: the deepest options chain of any ETF
SPY vs. VOO vs. SPLG
Three ETFs track the same index with different cost structures:
| ETF | Expense ratio | Min. share price | Best for |
|---|---|---|---|
| SPY | 0.0945% | ~$745 | Active traders, options |
| VOO | 0.03% | ~$685 | Long-term holders |
| SPLG | 0.02% | ~$85 | Small-account holders |
For traders (intraday, short-term), SPY’s liquidity + options depth wins despite the higher fee. For long-term investors, VOO or SPLG are cheaper.
Where to trade SPY
CFDs via Pepperstone, IC Markets, Capital.com. Real ETF shares via eToro or XTB (commission-free up to €100K/month on XTB).