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The S&P 500 ETF (SPY) Then And Now

Mon, Oct 29, 4:25 PM ET, by Michael Johnston

The S&P 500 is one of the most widely-followed benchmarks in the world, serving as a barometer not only for the U.S. economy but for global markets. It’s been almost 20 years since the first S&P 500 ETF debuted; (SPY, A) started trading in early 1993.

With the 20th birthday coming in January 2013, we take a look back at the evolution of one of the best-known indexes over the past two decades. While some of the names remain the same, many components of the S&P 500 have undergone radical changes since the first ETF debuted. We’ll start a full decade before the launch of SPY in 1983, before IBM and AT&T shortened their names, the Sears Tower was still Sears headquarters, and cameras were apparently big business [for year-by-year profiles, sign up for the free ETFdb newsletter].

1983: Oil Is King

In 1983 oil companies were thriving, with several energy components represented in the top 10 of the S&P 500. Exxon Mobil, of course, continues to be a major player in the oil and gas industry; several other components have evolved into new entities.

IBM was the most valuable U.S. stock in 1983 with a market capitalization of nearly $75 billion — which made it more than twice as valuable as the #2 company on the list. The computer maker isn’t the only holdover from the 1980s that still makes up a big chunk of the S&P; GE and Exxon have also shown staying power, and continue to be among the most valuable companies in the world.

Largest Component: International Business Machines (IBM, $74.3 billion)

Top 10 Market Cap: $241.2 billion

Newcomers: Sears Roebuck and duPont were new to the top 10 in 1993, replacing Shell Oil and Standard Oil of California from the year before.

Whatever Happened To: Standard Oil of Indiana. Also known as Stanolind, Standard Oil of Indiana was the 6th largest component of the S&P 500 in 1993. The company was later renamed Amoco, and is now a part of BP.

Complete Top 10: The ten largest U.S. companies in 1983 were:

Company Mkt. Cap % of S&P 500
IBM $74.3 6.09%
Exxon $32.1 2.63%
General Electric $26.6 2.18%
General Motors $23.4 1.92%
American Telephone & Telegraph $17.2 1.41%
Standard Oil of Indiana $14.8 1.22%
Schlumberger $14.5 1.19%
Sears Roebuck $13.2 1.08%
Eastman Kodak $12.6 1.03%
duPont $12.4 1.02%

[Get ratings for 1,500+ dividend stocks with a free 14-day trial to Dividend.com premium]

Next — 1984: Even More Oil >>>

Click here to read the original article on ETFdb.com.


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This Article's Word Cloud:   American   Business   California   ETFdb   Exxon   General   Happened   Indiana   King   Largest   Newcomers   Roebuck   Sears   Standard   back   before   benchmarks   billion   business   capitalization   changes   companies   company   components   debuted   decade   duPont   first   free   from   full   have   known   largest   later   many   most   names   only   power   profiles   several   since   still   valuable   were   with   world   year   years

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