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#1
Old 09-08-2011, 09:24 AM
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WTF is a Spyder [S&P 500] Fund on Scottrade

I advised my buddy that his money in equities should be in S&P 500 index funds.
He uses Scottrade for investments.
I tried to find the product there that lines up with my notion of an S&P 500 index fund, like the ones that used to be in my old Vanguard and Fidelity 401K plans at my old jobs.
Can't find them anywhere.
Am I being dense?
Does Scottrade not put those plans in its list?
#2
Old 09-08-2011, 09:47 AM
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Location: Boulder, CO
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Spyder (ticker symbol SPY) is an exchange-traded fund that tracks the S&P 500 so that it's current stock value is 1/10 of the S&P 500 index. So if you buy that, it's just like you're buying a more conventional index fund.

"Exchange-Traded" means that you can essentially treat this fund as if it is a single stock, so it's probably listed in the stocks section rather than the mutual fund section. I don't know how Scottrade is set up that way though.
#3
Old 09-08-2011, 09:57 AM
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I use etrade, which has a handy ETF screener tool that can be used to find the right ETF--the one I use for the S&P 500 is IVV or IJR or something (I can't be arsed to look it up right now). I'd imagine scottrade has a similar ETF screener.
#4
Old 09-08-2011, 10:15 AM
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Quote:
Originally Posted by Rand Rover View Post
I use etrade, which has a handy ETF screener tool that can be used to find the right ETF--the one I use for the S&P 500 is IVV or IJR or something (I can't be arsed to look it up right now). I'd imagine scottrade has a similar ETF screener.
One thing to note on this, is that for S&P 500 index ETFs, there is really only one relevant parameter -- The expense ratio. Your return is set, and you just need to find the one that charges you the least overhead for that return.

Orthogonally, I'm also a fan of Barclay's iShares, which are similar concepts for different countries and sectors. I use EWC as my standard index fund for The Motherland.
#5
Old 09-08-2011, 10:45 AM
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Scottrade does have a screening tool. Click the Quotes and Research tab. The menu on the left has ETFs and screening tools.
#6
Old 09-08-2011, 08:02 PM
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Quote:
Originally Posted by leahcim View Post
One thing to note on this, is that for S&P 500 index ETFs, there is really only one relevant parameter -- The expense ratio. Your return is set, and you just need to find the one that charges you the least overhead for that return.

Orthogonally, I'm also a fan of Barclay's iShares, which are similar concepts for different countries and sectors. I use EWC as my standard index fund for The Motherland.
Some index ETFs may be different in how closely they follow their particular index. One ETF that I own says in its notes that at least 80% of the assets invested follow the index (not the S&P, though; it's a bond index). Thus, the ETF's performance might be a little different from the index itself.
#7
Old 09-08-2011, 08:08 PM
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Here is information about the SPY, commonly called the SPDR. Many other ETF companies will have funds which track other large cap indices.

Last edited by dalej42; 09-08-2011 at 08:08 PM.
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