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Describe the investment known as "spyders."

Last Updated: January 21, 2010

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Spyders (also spelled "spiders," like the insect) is the name given to the largest exchange-traded fund in the United States. Its full name is "Standard & Poor's Depository Receipts," and its ticker symbol on the New York Stock Exchange is "SPY." Spyders track the performance of the Standard & Poor's 500 (S&P 500) stock market index, which is a benchmark of the performance of large U.S. companies.

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