The first-ever exchange-traded fund listed in the United States, SPDR® S&P 500 ETF Trust boasts a broadly diversified portfolio that’s generally representative of the investment opportunity set available to its Morningstar Category peers. However, its unit investment trust structure limits managers’ ability to eke out incremental value for shareholders and its fee is a multiple of those charged by its closest peers. This fund earns a Morningstar Analyst Rating of Silver.
Will SPY outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable SPY’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the SPY management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of SPY’s parent organization’s priorities and whether they’re in line with investors’ interests.