Understand its investment scope, concentration, risks and alternatives. This guide is free, with no sign-in required.
SPY holds a portfolio designed to track the S&P 500, representing large US companies across sectors.
SPY holds a portfolio designed to track the S&P 500, representing large US companies across sectors. Buying an ETF share is not direct ownership of every constituent stock. The index is not the whole US market and its membership changes.
The S&P 500 is float-adjusted market-cap weighted, not equally weighted.
The S&P 500 is float-adjusted market-cap weighted, not equally weighted. Large firms have more influence. Broad sector coverage does not remove top-company concentration or overlap with QQQ. Review portfolio weights before combining funds.
Earnings, valuation changes and distributions contribute to returns.
Earnings, valuation changes and distributions contribute to returns. Price return excludes reinvested dividends; total return includes them. The issuer lists a gross annual expense ratio of 0.0945%, deducted within the fund; spreads, brokerage and taxes also matter.
Recession, inflation, interest rates and earnings disappointments can cause substantial losses.
Recession, inflation, interest rates and earnings disappointments can cause substantial losses. A 20% loss requires a 25% gain to recover. A rolling 52-week drawdown is not an all-time-high drawdown. Home-currency returns also depend on exchange rates.
Start with portfolio role, holding period, overlap and tolerable losses.
Start with portfolio role, holding period, overlap and tolerable losses. Compare matching dates, currencies and dividend treatment. Then study earnings and valuation together: TTM is reported history, Forward is forecast, and historical percentiles are not future probabilities.
SPY is not capital protected.
SPY is not capital protected. A lower share price does not necessarily mean a lower valuation. Index and investor returns can differ through costs and execution. SPY offers broader sector exposure than QQQ, but owning both does not eliminate overlapping risks.
| ETF | Investment scope | Key distinction |
|---|---|---|
| SPY | US large companies | US large companies |
| QQQ | Nasdaq-100 | Nasdaq-100 View ETF: QQQ → |
| DIA | Dow Jones Industrial Average | Dow Jones Industrial Average View ETF: DIA → |
| IWM | US small companies | US small companies View ETF: IWM → |
SPY is not capital protected. A lower share price does not necessarily mean a lower valuation. Index and investor returns can differ through costs and execution. SPY offers broader sector exposure than QQQ, but owning both does not eliminate overlapping risks.
View ETF: QQQ →Product scope: issuer information. Educational interpretation: ETF-Investor. No claim of affiliation with the issuer.
State Street SPYFree educational information, not personalized investment advice. Data dates and estimate labels remain important.
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Companies with the greatest current influence on SPY.
| # | Ticker | Market cap | TTM PE | Forward PE | EPS growth | Weight | From 52W high |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | — | — | Premium | — | 8.34% | — |
| 2 | AAPL | — | — | Premium | — | 7.43% | — |
| 3 | MSFT | — | — | Premium | — | 5.80% | — |
| 4 | GOOGL / GOOG | — | — | Premium | — | 5.50% | — |
| 5 | AMZN | — | — | Premium | — | 3.73% | — |
| 6 | AVGO | — | — | Premium | — | 2.56% | — |
| 7 | META | — | — | Premium | — | 2.38% | — |
| 8 | MU | — | — | Premium | — | 1.75% | — |
| 9 | TSLA | — | — | Premium | — | 1.58% | — |
| 10 | AMD | — | — | Premium | — | 1.51% | — |
| 11 | BRK.B | — | — | Premium | — | 1.42% | — |
| 12 | LLY | — | — | Premium | — | 1.40% | — |
| 13 | JPM | — | — | Premium | — | 1.32% | — |
| 14 | XOM | — | — | Premium | — | 1.04% | — |
| 15 | V | — | — | Premium | — | 0.96% | — |
| 16 | JNJ | — | — | Premium | — | 0.92% | — |
| 17 | INTC | — | — | Premium | — | 0.80% | — |
| 18 | WMT | — | — | Premium | — | 0.74% | — |
| 19 | ABBV | — | — | Premium | — | 0.72% | — |
| 20 | MA | — | — | Premium | — | 0.69% | — |
| 21 | PLTR | — | — | Premium | — | 0.68% | — |
| 22 | CSCO | — | — | Premium | — | 0.68% | — |
| 23 | COST | — | — | Premium | — | 0.63% | — |
| 24 | CVX | — | — | Premium | — | 0.62% | — |
| 25 | AMAT | — | — | Premium | — | 0.60% | — |
| 26 | LRCX | — | — | Premium | — | 0.60% | — |
| 27 | CAT | — | — | Premium | — | 0.55% | — |
| 28 | MRK | — | — | Premium | — | 0.53% | — |
| 29 | PG | — | — | Premium | — | 0.52% | — |
| 30 | BAC | — | — | Premium | — | 0.52% | — |
| 31 | KO | — | — | Premium | — | 0.51% | — |
| 32 | UNH | — | — | Premium | — | 0.50% | — |
| 33 | PANW | — | — | Premium | — | 0.49% | — |
| 34 | GE | — | — | Premium | — | 0.47% | — |
| 35 | PM | — | — | Premium | — | 0.47% | — |
| 36 | NFLX | — | — | Premium | — | 0.45% | — |
| 37 | HD | — | — | Premium | — | 0.44% | — |
| 38 | CRWD | — | — | Premium | — | 0.40% | — |
| 39 | GEV | — | — | Premium | — | 0.40% | — |
| 40 | TXN | — | — | Premium | — | 0.39% | — |
Holdings weights use the latest available published snapshot. Missing values are not estimated.