hblank

A Forward-Looking Approach To Evaluating ETFs

Mr. Krause begins the article with a frequently parroted mistake. SPDRs was NOT the World's first Exchange-Traded Fund -- nor even North America's first exchange-traded fund. THat honor is held by the TIPS (Toronto Index Participation Shares), representing the Toronto Stock Exchange 35 Index, that started trading in November 1991. The first US ETF preceded SPDRs to markets by three months; this was the Leland-Obrien_rubenste... launched SuperShares which was also based upon the S&P 500 Index, but was more complicated than the SPDRs.