SPDR S&P 500 ETF TrustNYSE American: SPY

This investment is part of Buffett's portfolio.

The SPDR S&P 500 ETF (SPY) was launched on 01/29/1993, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.

SPDR S&P 500 ETF Trust crosses $600 billion in AUM -a first for any ETF. Let's delve into its success story.

It's a great day to be an investor in SPY, the SPDR S&P 500 ETF Trust.  As of market close on Oct. 15, 2024, SPY became the world's first ETF to surpass $600 billion in assets under management.

Time is on your side with this Buffett-owned exchange-traded fund.

You can build a million-dollar nest egg by following these steps.

Despite fears of an AI bubble, current financial robustness and valuation of companies suggest we are not in a bubble. The reduction in euphoria over AI companies' results combined with the strong rise in the S&P 500 are not signs of a bubble. The S&P 500's valuation is stretched, and a regression to a 15x P/E ratio could present a good buying opportunity.

The S&P 500 is on its way for yet another successful year with year-to-date return of 22%. With valuations once again at record highs and bond yields sitting well above their 2021 values, upside from here appears limited. Investors buying the SPY should also consider the ETF's higher risk exposure.

The S&P 500 wrapped up its best quarter since the fourth quarter of 2021. We have highlighted five stocks that led the ETF and have a solid Zacks Rank.