5 Biggest ETFs by Volume

3. SPDR S&P 500 ETF Trust (NYSE:SPY)

Volume as of August 28: 102,325,103

SPDR S&P 500 ETF Trust (NYSE:SPY)’s goal is to mirror the price and yield performance of the S&P 500® Index, before accounting for expenses. SPDR S&P 500 ETF Trust (NYSE:SPY), launched in January 1993, holds the distinction of being the inaugural exchange traded fund listed in the United States. As of August 29, 2023, the ETF features a gross expense ratio of 0.0945%. Its assets under management amount to $408.40 billion.

Microsoft Corporation (NASDAQ:MSFT) is one of the top holdings of SPDR S&P 500 ETF Trust (NYSE:SPY). According to Insider Monkey’s quarter database, Microsoft Corporation (NASDAQ:MSFT) was part of 300 hedge fund portfolios, compared to 289 in the preceding quarter. Bill & Melinda Gates Foundation Trust is the largest stakeholder of the company, with 39.2 million shares worth $13.3 billion. 

Mairs & Power Growth Fund made the following comment about Microsoft Corporation (NASDAQ:MSFT) in its second quarter 2023 investor letter:

“Regarding stock selection in the first half, Nvidia (NVDA) was a massive outperformer, up 189.54%. Amazon and Microsoft Corporation (NASDAQ:MSFT) were also positive contributors, up 55.19% and 42.66%, respectively. All three stocks benefited from a renewed interest in growth stocks by investors in the first half of the year.

Microsoft (MSFT) was another positive contributor to performance in the first half. The company continued to take share in cloud computing. Its strong relationships with customers, as well as knowledge of their businesses, differentiates its offering, which is also helped by leading investments in AI. We expect the company will continue to integrate AI tools into most of its productivity suite of software in the not-too-distant future. This should help with employee productivity and the labor constraints of most of its customers.”