Whats the history behind ETFs?
The history of exchange-traded funds dates back to 1993, when American Stock Exchange launched the “Spiders”, also known as the S&P Depositary Receipts, Trust Series 1. The underlying index tracks the S&P 500. Other well-known ETFs followed, with the Diamonds (tracks the Dow Jones Industrial Average) being introduced in 1998 and the Cubes (tracks the NASDAQ 100) launching in 1999.
