It has AUM of $424.9 billion and charges 9 bps in fees per year. The fund is widely spread across sectors with information technology, consumer discretionary, healthcare, financials and communication services accounting for a double-digit allocation each. This suggests a nice balance across each security and prevents heavy concentration. The ETF holds 506 stocks in its basket with each accounting for no more than 6.3% of assets. Let’s take a closer look at the fundamentals of SPY and its best stocks: Inside the SPY The bill, which is awaiting President Joe Biden signature, has given another reason for the stocks to cheer (read: 5 Top-Ranked ETFs Outperforming to Start November).Īgainst such a backdrop, the proxy version of the S&P 500 Index, SPDR S&P 500 ETF Trust SPY, has surged 26.5% this year. This would put $550 billion of new funding into transportation projects, the utility grid and broadband. economy.įurther, the House of Representatives has passed the $1.2 trillion infrastructure bill. The move indicates a solid recovery in the U.S. The central bank will begin tapering bond purchases “later this month” and will reduce buying by $15 billion a month, putting it on track to end the quantitative easing by the middle of next year.

The Fed’s tapering announcement added to the strength. The dual news has bolstered investors’ sentiment about economic growth. Additionally, a Pfizer PFE COVID-19 drug, which when used with an HIV drug, has reduced that the risk of hospitalization and deaths substantially by 89%. The United States added 531,000 jobs and unemployment dropped to 4.6%. Hiring picked up in October after a slowdown in summer.

Aggregate Q3 earnings for the S&P 500 Index are on track to reach a new all-time quarterly record, surpassing the record set in the preceding quarter (read: ETFs to Ride on a Solid Start to Q3 Earnings). Though earnings and revenue growth has come down in the ongoing Q3 earnings season from the first-half’s breakneck speed, it is still very high. Notably, Q3 earnings from 445 S&P 500 members that have reported so far are up 42.9% from the same period last year on 18.6% lower revenues, with 80.2% beating EPS estimates and 74.4% beating revenue estimates. With this surge, the S&P 500 is up 25.2% so far this year. In fact, the benchmark logged in eight consecutive gains, representing its longest winning streak since 2017, and closed above the 4,700 milestone for the first time ever. The S&P 500 Index has been hitting a series of record highs lately buoyed by a wave of upbeat corporate earnings and resurgence in economic growth. Institutional Distribution Intelligence.Non-Traditional Exchanges & New Markets.Directors’ and Officers’ Questionnaires.

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