Re: What is the difference between Spdr and S&P500 mutual funds?

From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: What is the difference between Spdr and S&P500 mutual funds?
Date: Wed, 10 Mar 1999 07:57:39 -0500

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The structure is different.  SPDRs are units of a unit trust.  The
trust owns the underlying stocks and does not trade them other than to
match changes in the index composition. The trust units trade on the
open market like stocks and can be bought and sold at any time during
the day, not just at the end of the day.  SPDRs have annual fees
comparable to index funds (I believe SPY's fee is currently 0.18%,
compared to VFINX's 0.19%).

Go to www.nasdaq-amex.com and poke around until you get to the links
on SPDRs.  The entire prospectus is there as well as a host of other
information about them.

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

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