Nick Rojas

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Have S&P 500 Index Funds Lost their Sparkle?

In 1976, the Standard and Poor's 500 became the first stock market index tracked by a fund when Vanguard launched its legendary Vanguard 500 Index Fund (VFINX), which started with just $11 million and grew to become the largest U.S. equity mutual fund in existence by the late 1990s.

The year 1992 saw the first successful launch of an exchange-traded fund (ETF). It, too, tracked the S&P 500. Nearly a quarter century later, and largest ETF in existence is SPY, which tracks — you guessed it — the S&P 500.