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Don’t be Afraid of ‘SPIDERS’
By Dr. David Edward Marcinko MBA CMP™
www.CertifiedMedicalPlanner.com
[Publisher-in-Chief]
What they are – How they work?
No, I’m not talking about creepy, crawly insects. I’m referring to Standard & Poor’s Depository Receipts (SPDRs, or spiders), a derivative product, which combines many of the advantages of index funds with the superior trading flexibility of common stocks.
Creation
SPDRs were created in January 1993 by the American Stock Exchange. SPDRs are units in a trust holding the S&P 500 securities in proportion to their index weighting and which are adjusted as necessary to track changes made to the index by S&P. They pay quarterly cash dividend distributions based on the accumulated dividends paid by the stocks held in the SPDR trust minus an annual fee of about .19% of principal to cover trust expenses. They trade at approximately one-tenth the value of the index.
Conclusion
And so, your thoughts and comments on this ME-P are appreciated. Do you use SPDRs; why or why not? Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.
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Filed under: CMP Program, Investing, Portfolio Management | Tagged: American Stock Exchange, David Edward Marcinko, S&P, SPDR, Standard & Poor’s Depository Receipts, www.certifiedmedicalplanner.com |
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