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Spiders (SPDR)

Definition of 'Spiders (SPDR)'

Standard & Poor's Depositary Receipts, or spiders, represent ownership in the SPDR Trust, a unit investment trust that holds a portfolio of common stocks that closely tracks the price performance and dividend yield of the S&P 500 Index. Trading at about 0.10 times the S&P 500, spiders are a better way for many individual investors to track the S&P 500 than the S&P 500 futures, which trade at 250 times the S&P 500, or the S&P Mini, which trades at 50 times the S&P 500.

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