First ETF

About First ETF

The first Exchange Traded Fund, SPDR S&P 500 ETF (SPY), launched on January 22, 1993. Created by State Street Global Advisors, SPY allowed investors to trade the S&P 500 index like a stock throughout the day. ETFs combined the diversification of mutual funds with the flexibility of stock trading. The ETF industry grew to over 10 trillion globally. There are now over 10,000 ETFs covering every asset class, sector, and strategy. ETFs have been called the most successful financial innovation of the past 30 years. Critics warn that niche ETFs and leveraged ETFs pose risks to retail investors.