Re: SPDRs

From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: SPDRs
Date: Thu, 28 Jan 1999 22:10:02 -0500

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>advantages of SPDRs over an S&P 500 index fund are: there are no capital
>gains distributed by SPDRs;

Not true.  When net gains are realized due to changed in the index
composition, capital gains ARE distributed out to unitholders.

>the expense ratio charged by SPDRs is much less
>than the most efficient index fund, about 0.1845%;

Very untrue.  For example, the expense ratio for Vanguard's
SP500 fund is 0.19%, so the SPDR expense ratio is definitely
not "much less than the most efficient index fund."

Rich Carreiro
rlcarr@animato.pn.com
P5-100/RedHat Linux 4.2

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