Spiders: Where are the Bugs

35 Pages Posted: 30 Apr 2002  

Edwin J. Elton

New York University (NYU) - Department of Finance

Martin J. Gruber

New York University (NYU) - Department of Finance

George Commer

New York University (NYU) - Department of Finance

Kai Li

New York University (NYU) - Department of Finance

Multiple version iconThere are 2 versions of this paper

Date Written: May 23, 2000

Abstract

One of the clearest trends in asset management is the rapid increase in the amount of individual and institutional money invested in indexed products. By far the most popular index that investors want to replicate is the S&P 500 index. While many academic studies have examined the characteristics of two instruments frequently used to replicate the S&P, index funds and futures, very little has been written about the newest way to replicate the S&P 500 index: Standard and Poors Depository Receipts (SDPR) commonly referred to as Spiders. The purpose of this paper is to analyze Spiders and compare them to alternative investments.

Keywords: spiders, index funds, mutual funds, performance

Suggested Citation

Elton, Edwin J. and Gruber, Martin J. and Commer, George and Li, Kai, Spiders: Where are the Bugs (May 23, 2000). Available at SSRN: https://ssrn.com/abstract=307136 or http://dx.doi.org/10.2139/ssrn.307136

Edwin J. Elton (Contact Author)

New York University (NYU) - Department of Finance ( email )

44 West 4th Street
Ste 9-190
New York, NY 10012-1126
United States
212-998-0361 (Phone)
212-995-4233 (Fax)

Martin J. Gruber

New York University (NYU) - Department of Finance ( email )

44 West 4th Street
Ste 9-190
New York, NY 10012-1126
United States
212-998-0333 (Phone)
212-995-4233 (Fax)

George Commer

New York University (NYU) - Department of Finance

Stern School of Business
44 West 4th Street
New York, NY 10012-1126
United States

Kai Li

New York University (NYU) - Department of Finance

Stern School of Business
44 West 4th Street
New York, NY 10012-1126
United States

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