"State Street’s S&P 500 ETF, SPY, is the benchmark ETF used for core allocations in portfolio, but more importantly, the hedging tool in times of market-wide stress. The ETF has world-wide recognition. In times of [heightened] risk in global markets, SPY is the go-to ETF for various reason" said Reggie Browne, principal of GTS Securities/Mischler Financial Group, told FOX Business.On Feb.
SPY’s assets have swelled to $355 billion from a mere $6.5 million at its inception. Average daily trading volume has exploded to $39 billion from a puny $8 million, as tracked by State Street. Trading three times more than Apple, at $2 trillion is the largest global securityJust 40% of investors say they own an ETF vs. 83% which own stocks
Its impact has also helped launch an entire ETF industry, which has grown to $6.5 trillion in assets across 8,000 ETFs. "SPY disrupted the asset management industry and benefited investors in ways that exceeded even the most ambitious expectations," said Sue Thompson, head of SPDR Americas Distribution at State Street Global Advisors.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »