# WTF is a Spyder \[S&P 500\] Fund on Scottrade **URL:** \ **Category:** Factual Questions\ **Created:** [September 8, 2011, 1:24pm UTC](https://boards.straightdope.com/t/wtf-is-a-spyder-s-p-500-fund-on-scottrade/595607 "2011-09-08T13:24:51Z")\ **Posts on this page:** 7\ **Page:** 1
**Author:** ![Mr.Slant](https://avatars.discourse-cdn.com/v4/letter/m/c57346/32.png) [@Mr.Slant](https://boards.straightdope.com/u/Mr.Slant)\ **Post date:** [September 8, 2011, 1:24pm UTC](https://boards.straightdope.com/t/wtf-is-a-spyder-s-p-500-fund-on-scottrade/595607/1 "2011-09-08T13:24:51Z")
I advised my buddy that his money in equities should be in S&P 500 index funds. He uses Scottrade for investments. I tried to find the product there that lines up with my notion of an S&P 500 index fund, like the ones that used to be in my old Vanguard and Fidelity 401K plans at my old jobs. Can’t find them anywhere. Am I being dense? Does Scottrade not put those plans in its list? ---
**Author:** ![leahcim](https://avatars.discourse-cdn.com/v4/letter/l/b4bc9f/32.png) [@leahcim](https://boards.straightdope.com/u/leahcim)\ **Post date:** [September 8, 2011, 1:47pm UTC](https://boards.straightdope.com/t/wtf-is-a-spyder-s-p-500-fund-on-scottrade/595607/2 "2011-09-08T13:47:24Z")
Spyder (ticker symbol SPY) is an exchange-traded fund that tracks the S&P 500 so that it’s current stock value is 1/10 of the S&P 500 index. So if you buy that, it’s just like you’re buying a more conventional index fund. “Exchange-Traded” means that you can essentially treat this fund as if it is a single stock, so it’s probably listed in the stocks section rather than the mutual fund section. I don’t know how Scottrade is set up that way though. ---
**Author:** ![Rand\_Rover](https://avatars.discourse-cdn.com/v4/letter/r/db5fbb/32.png) [@Rand\_Rover](https://boards.straightdope.com/u/Rand_Rover)\ **Post date:** [September 8, 2011, 1:57pm UTC](https://boards.straightdope.com/t/wtf-is-a-spyder-s-p-500-fund-on-scottrade/595607/3 "2011-09-08T13:57:39Z")
I use etrade, which has a handy ETF screener tool that can be used to find the right ETF–the one I use for the S&P 500 is IVV or IJR or something (I can’t be arsed to look it up right now). I’d imagine scottrade has a similar ETF screener. ---
**Author:** ![leahcim](https://avatars.discourse-cdn.com/v4/letter/l/b4bc9f/32.png) [@leahcim](https://boards.straightdope.com/u/leahcim)\ **Post date:** [September 8, 2011, 2:15pm UTC](https://boards.straightdope.com/t/wtf-is-a-spyder-s-p-500-fund-on-scottrade/595607/4 "2011-09-08T14:15:16Z")
> [@Rand\_Rover](#): > > I use etrade, which has a handy ETF screener tool that can be used to find the right ETF–the one I use for the S&P 500 is IVV or IJR or something (I can’t be arsed to look it up right now). I’d imagine scottrade has a similar ETF screener. One thing to note on this, is that for S&P 500 index ETFs, there is really only one relevant parameter – The expense ratio. Your return is set, and you just need to find the one that charges you the least overhead for that return. Orthogonally, I’m also a fan of Barclay’s iShares, which are similar concepts for different countries and sectors. I use EWC as my standard index fund for The Motherland. ---
**Author:** ![Chefguy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chefguy/32/138_2.png) [@Chefguy](https://boards.straightdope.com/u/Chefguy)\ **Post date:** [September 8, 2011, 2:45pm UTC](https://boards.straightdope.com/t/wtf-is-a-spyder-s-p-500-fund-on-scottrade/595607/5 "2011-09-08T14:45:01Z")
Scottrade does have a screening tool. Click the Quotes and Research tab. The menu on the left has ETFs and screening tools. ---
**Author:** ![dracoi](https://avatars.discourse-cdn.com/v4/letter/d/90db22/32.png) [@dracoi](https://boards.straightdope.com/u/dracoi)\ **Post date:** [September 9, 2011, 12:02am UTC](https://boards.straightdope.com/t/wtf-is-a-spyder-s-p-500-fund-on-scottrade/595607/6 "2011-09-09T00:02:52Z")
> [@leahcim](#): > > One thing to note on this, is that for S&P 500 index ETFs, there is really only one relevant parameter – The expense ratio. Your return is set, and you just need to find the one that charges you the least overhead for that return. > > Orthogonally, I’m also a fan of Barclay’s iShares, which are similar concepts for different countries and sectors. I use EWC as my standard index fund for The Motherland. Some index ETFs may be different in how closely they follow their particular index. One ETF that I own says in its notes that at least 80% of the assets invested follow the index (not the S&P, though; it’s a bond index). Thus, the ETF’s performance might be a little different from the index itself. ---
**Author:** ![dalej42](https://avatars.discourse-cdn.com/v4/letter/d/67e7ee/32.png) [@dalej42](https://boards.straightdope.com/u/dalej42)\ **Post date:** [September 9, 2011, 12:08am UTC](https://boards.straightdope.com/t/wtf-is-a-spyder-s-p-500-fund-on-scottrade/595607/7 "2011-09-09T00:08:00Z")
[Here](https://www.spdrs.com/product/fund.seam?ticker=spy) is information about the SPY, commonly called the SPDR. Many other ETF companies will have funds which track other large cap indices.