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From: Chicago Sun-Times | Date: February 4, 2007 | Copyright information

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What are "Spiders"?

-- J.K., Riverside, Calif.

"Spiders" is a nickname for Standard & Poor's Depositary Receipts, or SPDRs. Investors who own Spiders own proportionate amounts of all the companies in the S&P 500, such as General Electric, Microsoft, Wal-Mart and Apple. Unlike index funds, which work like traditional mutual funds, Spiders are exchange-traded funds, structured like shares of stock. They trade on the American Stock Exchange under the symbol...

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