State Street Global Advisors’ SPDR S&P 500 ETF Trust Celebrates its 30 Year Anniversary
State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), marked the 30th anniversary of the first ever US-listed exchange traded fund (ETF) this month, the SPDR S&P 500 ETF Trust (SPY). Launched on January 22, 1993, SPY is the world’s largest ETF with more than $355 billion in assets and the most heavily traded security in the world with an average daily trading volume of $39 billion.*
“SPY gave birth to an industry that has democratized investing, giving both investors large and small access to institutional-grade solutions that offer efficient, cost-effective exposures to all corners of the global investment market,” said Rory Tobin, head of State Street Global Advisors’ Global SPDR ETF Business. “Born out of the stock market crash of 1987, SPY has demonstrated its resilience throughout major market events from the burst of the dot-com bubble to the global financial crisis of 2008, and more recently, the extreme pandemic-era volatility.”
“SPY disrupted the asset management industry and benefitted investors in ways that exceeded even the most ambitious expectations,” said Sue Thompson head of SPDR Americas Distribution at State Street Global Advisors. “Three decades since SPY’s launch, investors now have access to more than 8,000 ETFs globally, but none come close to offering the liquidity of SPY, which provides transaction cost benefits that can lower total cost of ownership for investors.”
“S&P Dow Jones Indices congratulates State Street Global Advisors on this momentous occasion. This 30-year milestone and the tremendous growth of ETFs during this time, reflect the transformational benefits being provided to all end investors,” said Dan Draper, Chief Executive Officer at S&P Dow Jones Indices.
A History Steeped in Liquidity & Resiliency
Since SPY’s launch, US-listed ETFs have amassed $6.5 trillion in assets.*
Toward the end of 2022 SPY was trading three times more than Apple (AAPL) — the largest security in the world by market cap.** That volume, combined with the size of SPY’s assets, performance, liquidity, and resilience, has been vital to investors as they construct asset allocation portfolios and navigate extreme market events.
In fact, as the market began to tumble during the onset of COVID-19, SPY became the first ETF to ever trade more than $100 billion in a single day on February 28, 2020.**
“Throughout each market turn, SPY’s unparalleled liquidity profile provided investors with the flexibility to buy and sell shares quickly, easily, and cost-efficiently,” Tobin added.
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