
The SPDR S&P 500 ETF Trust (NYSE:SPY), the first ETF introduced in the U.S., has received a harsh wake-up call in 2025. While the red-hot S&P 500 index is soaring, SPY is enduring one of its largest redemptions in history, with $30.2 billion in redemptions year-to-date.
According to FactSet cited by etf.com, this almost equals its record $32.3 billion loss in 2015.