OriginaveSPY — SPDR S&P 500 ETF Trust
SPDR S&P 500 ETF Trust: what it is, what it costs, and what it actually returned — dividends reinvested.
SPY in plain words
SPY is the SPDR S&P 500 ETF Trust from State Street. It tracks the S&P 500 Index and costs 0.0945% a year, quietly deducted from returns. Yes — SPY is a distributing fund: the dividends its holdings pay are passed on to you as cash.
$10,000 invested at the start of 2016 was worth $39,466 by the end of 2025 — an average of 14.7% per year over 10 full years, dividends reinvested. Its best full year so far was 1995 (+38.05%), its worst 2008 (-36.80%) — the range you sign up for.
SPY fund facts
| Fund | SPDR S&P 500 ETF Trust |
|---|---|
| Provider | State Street |
| Tracks | S&P 500 Index |
| Yearly cost (TER) | 0.0945% |
| Dividends | Distributing — paid out as cash |
| Launched | 22 Jan 1993 |
Curious what the index actually holds? Read our S&P 500 Index profile.
SPY returns by year (USD)
| Year | Total return |
|---|---|
| 2026 (so far) | +10.09% |
| 2025 | +17.72% |
| 2024 | +24.89% |
| 2023 | +26.18% |
| 2022 | -18.18% |
| 2021 | +28.73% |
| 2020 | +18.33% |
| 2019 | +31.22% |
| 2018 | -4.57% |
| 2017 | +21.71% |
| 2016 | +12.00% |
| 2015 | +1.23% |
| 2014 | +13.46% |
| 2013 | +32.31% |
| 2012 | +15.99% |
| 2011 | +1.89% |
| 2010 | +15.06% |
| 2009 | +26.35% |
| 2008 | -36.80% |
| 2007 | +5.15% |
| 2006 | +15.85% |
| 2005 | +4.83% |
| 2004 | +10.70% |
| 2003 | +28.18% |
| 2002 | -21.58% |
| 2001 | -11.76% |
| 2000 | -9.74% |
| 1999 | +20.39% |
| 1998 | +28.69% |
| 1997 | +33.47% |
| 1996 | +22.50% |
| 1995 | +38.05% |
| 1994 | +0.40% |
| 1993 | +8.71% |
Calendar-year total returns of SPY in USD, dividends reinvested — the ETF tracking this index, not the raw index level.
Frequently asked
Is SPY a good investment?
SPY is a broad, low-effort way to own the S&P 500 Index at 0.0945% a year. $10,000 invested at the start of 2016 was worth $39,466 by the end of 2025 — an average of 14.7% per year over 10 full years, dividends reinvested. Whether it fits depends on your goals and horizon — past returns don't promise future ones, but this is the actual track record.
What is SPY's TER?
SPY's total expense ratio (TER) is 0.0945% per year, deducted continuously from the fund's assets — you never get a bill, the returns are simply quoted after costs.
Does SPY pay dividends?
Yes — SPY is a distributing fund: the dividends its holdings pay are passed on to you as cash.
What would $10,000 invested in SPY be worth?
$10,000 invested at the start of 2016 was worth $39,466 by the end of 2025 — an average of 14.7% per year over 10 full years, dividends reinvested.
Curious about other amounts or start years? Try the SPY what-if calculator.