What is the difference between SPX and SPY? (2024)

The moomoo app is an online trading platform offered by Moomoo Technologies Inc. Securities, brokerage products and related services available through the moomoo app are offered by including but not limited to the following brokerage firms: Moomoo Financial Inc. regulated by the U.S. Securities and Exchange Commission (SEC), Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS), Futu Securities International (Hong Kong) Limited regulated by the Securities and Futures Commission of Hong Kong (SFC), Moomoo Financial Canada Inc. regulated by the Canadian Investment Regulatory Organization (CIRO) and Moomoo Securities Australia Ltd regulated by the Australian Securities and Investments Commission (ASIC).

For further information about Moomoo Financial Inc., please visit Financial Industry Regulatory Authority (FINRA)’s BrokerCheck. Brokerage accounts with Moomoo Financial Inc. are protected by the Securities Investor Protection Corporation (SIPC). Moomoo Financial Inc. is a member of Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). It is important to understand that SIPC protects customer accounts against losses caused by the financial failure of the broker-dealer, but not against an increase or decrease in the market value of securities in customers' accounts. SIPC does not protect against market risk, which is the risk inherent in a fluctuating market. For further information about SIPC coverage for accounts with Moomoo Financial Inc., see www.sipc.org or request an explanatory brochure from Moomoo Financial Inc.

Options trading entails significant risk and is not appropriate for all customers. It is important that investors read Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount. Supporting documentation for any claims, if applicable, will be furnished upon request.

Investments in stocks, options, ETFs and other instruments are subject to risks, including possible loss of the amount invested. The value of investments may fluctuate and as a result, clients may lose the value of their investment. Past performance should not be viewed as an indicator of future results.

Margin trading involves interest charges and heightened risks, including the potential to lose more than invested funds or the need to deposit additional collateral. Before trading on margin, customers are advised to determine whether this type of trading is appropriate for them in light of their respective investment objective, experience, risk tolerance and financial situation.

See Also
ETF Central

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All types of investments are risky and investors may suffer losses. Past performance of investment products does not guarantee future results. Electronic trading also poses risks to investors. The responsiveness of the trading system may vary due to market conditions, system performance, and other factors. Account access and trade execution may be affected by factors such as market volatility.

No content on the website shall be considered as a recommendation or solicitation for the purchase or sale of securities, futures, or other financial products. All information and data on the website are for reference only and no historical data shall be considered as the basis for predicting future trends.

Information contained on this website is general in nature and has been prepared without any consideration of customers’ investment objectives, financial situations or needs. Customers should consider the appropriateness of the information having regard to their personal circ*mstances before making any investment decisions.

Investment products are not insured by the Federal Deposit Insurance Corporation (FDIC) or guaranteed by a bank, and may decline in value.

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What is the difference between SPX and SPY? (2024)

FAQs

What is the difference between SPX and SPY? ›

SPY is the ticker symbol for an exchange-traded fund that tracks the performance of the S&P 500 index; it is traded like a stock. SPX is simply the numerical value that represents the level of the S&P 500 index and is not directly tradable.

What is the difference between SPX and SPY tax benefits? ›

Understanding the tax treatment of SPX and SPY options is crucial for investors. While profits from SPY options are taxed as short-term capital gains, SPX options could provide a tax benefit under Section 1256 where 60% of earnings qualify as long-term capital gains.

What's the difference between SPX and ES? ›

ES: Open nearly 24/7, ES futures offer the ultimate flexibility to respond to global events at any hour. Night owls and early birds, rejoice! SPX: Reflecting the market during standard hours, SPX derivatives are for those who operate on the rhythm of the traditional trading day.

How to convert SPX to SPY? ›

SPX to SPY Conversion Formula

The conversion formula is straightforward: SPX = 10 x SPY; SPY = SPX/10. This means that if the SPX value is 4,000, the corresponding SPY value would be 400.

Is investing in SPY the same as S&P 500? ›

SPY is the ticker symbol for the SPDR® S&P 500® ETF, an exchange traded fund that tracks the performance of the S&P 500® Index.

How much is 1 point on SPX? ›

Contract Multiplier $100 Minimum Price Intervals Stated in decimals. One point equals $100.

Is SPX considered futures? ›

Both the E-mini and Micro E-mini SPX futures trade on the Chicago-based CME Group exchange and are among the most actively traded futures in the world.

Does SPY follow es or es follow SPY? ›

Yes, the SPY (SPDR S&P 500 ETF) tends to closely follow the movements of the ES (E-mini S&P 500 futures contract). The ES futures contract is based on the S&P 500 index and is a popular instrument for trading the broader market.

What companies are in the SPY ETF? ›

Top 10 Holdings (34.14% of Total Assets)
  • AAPL. Apple Inc. 6.95%
  • MSFT. Microsoft Corporation 6.53%
  • NVDA. NVIDIA Corporation 6.18%
  • AMZN. Amazon.com, Inc. 3.44%
  • META. Meta Platforms, Inc. 2.41%
  • GOOGL. Alphabet Inc. 2.02%
  • BRK-B. Berkshire Hathaway Inc. 1.81%
  • GOOG. Alphabet Inc. 1.70%

Is SPX exactly 10 times SPY? ›

Looking closely, you can see that each SPX contract is about 10 times the value of a SPY option because the S&P 500 Index is approximately 10X times higher than SPY in numerical terms. Although trading SPX options requires more capital, the tax treatment on SPX options is better.

Who controls SPX? ›

SPX is often used as a benchmark for the performance of large cap U.S. stocks. The S&P 500 index is maintained by S&P Dow Jones Indices, a division of S&P Global. It is one of the most widely followed stock market indices in the world and is used as a benchmark by investors, analysts and financial professionals.

Does SPY mirror the S&P 500? ›

As such, the average return in SPY closely mirrors that of the S&P 500. The S&P 500 assumed its current size and name in 1957, however, its origins as a composite index date back to the 1920s.

Is SPX considered a future? ›

Futures based on the SPX and other equity indexes have historically been used by some traders looking for a way to gain exposure to the broader market, potentially help protect against market turmoil, and add portfolio flexibility during earnings season. E-mini SPX futures have been traded for more than two decades.

What is the difference between the Dow Jones and the SPX? ›

The Dow includes 30 large, well-established U.S. companies from various industries. The Nasdaq indexes focus heavily on technology companies but also include other sectors. The S&P 500 includes 500 large U.S. companies from all major industries, providing a broad market representation.

What's the difference between SPY and splg? ›

SPY is more expensive with a Total Expense Ratio (TER) of 0.0945%, versus 0.02% for SPLG. SPY is up 18.64% year-to-date (YTD) with -$21.16B in YTD flows. SPLG performs better with 18.69% YTD performance, and +$10.47B in YTD flows.

What does S&P stand for? ›

Standard & Poor's (S&P) is a company well known around the world as a creator of financial market indices—widely used as investment benchmarks—a data source, and an issuer of credit ratings for companies and debt obligations.

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