The S&P 500, the benchmark U.S. equity index, now has $7.8 trillion following it with $2.16 trillion of that coming by way of exchange traded funds, mutual funds and other investment products, according to S&P Dow Jones Indices.

Of the seven largest U.S.-listed ETFs, including the two largest, three are S&P 500 tracking funds. That trio is comprised of the $177 billion SPDR S&P 500 ETF (NYSEArca: SPY), the world’s largest ETF; the $70.3 billion iShares Core S&P 500 ETF (NYSEArca: IVV) and the $32.6 billion Vanguard 500 Index (NYSEArca: VOO).

At the end of April, U.S. exchange traded products, including ETFs and exchange traded notes (ETNs), had $2.13 trillion in assets under management, indicating the three aforementioned S&P 500 ETFs combine for a significant percentage of total U.S. ETF assets. [Comparing S&P 500 ETFs]

S&P Dow Jones Indices, one of the world’s largest index providers, said approximately $3.05 trillion is now directly invested in products based upon all equity and fixed income indices calculated and published by S&P DJI. Three of the four largest ETFs trading in Europe are S&P 500 funds.

Of the 40 largest U.S.-listed ETFs, 13 track S&P Dow Jones indexes. While the index provider is known for cap-weighted indexes such as the S&P 500 the benchmarks tracked by the sector SPDR ETFs, the largest suite of sector ETFs, S&P Dow Jones is also a prominent provider of alternatively-weighted and smart beta indexes. The firm has seen “significant AUM growth seen in products based upon S&P DJI Smart Beta Indices (+55% year-over-year growth to $133.64 billion).”

PowerShares uses S&P indexes for several well-known low volatility ETFs, including the $4.8 billion PowerShares S&P 500 Low Volatility Portfolio (NYSEArca: SPLV) and the $576.3 million PowerShares S&P 500 High Dividend Portfolio (NYSEArca: SPHD). [Relax With Low Vol ETFs]

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