ETFs Poised to Exceed Trade in S&P 500 as Spiders Beat Apple
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For the first time, the value of transactions in exchange-traded funds tracking the Standard & Poor’s 500 Index is poised to exceed the turnover for all the stocks in the benchmark gauge of American equity.
Dollar volume in the SPDR S&P 500 ETF Trust, the iShares S&P 500 Fund and the Vanguard S&P 500 ETF reached a 12-month average of $28 billion a day last month, 98 percent of the trading in the index’s companies, which include Apple Inc. and Exxon Mobil Corp., data compiled by Bloomberg and Goldman Sachs Group Inc. show. Investors have flocked to the securities that mimic benchmark returns after the financial crisis increased swings and correlations between assets.