SPY ETF Shows Mixed Performance: A Year of Growth Amid Recent Decline

Current Standing of the SPDR S&P 500 ETF Trust

The SPDR S&P 500 ETF Trust (SPY) has experienced a slight dip of 0.76% over the last week. However, it remains strong with an impressive increase of 40.3% over the past year.

Analyst Sentiment and Price Targets

According to TipRanks, the ETF’s analyst consensus categorizes SPY as a Moderate Buy, based on an assessment of its components. The average target price set by analysts is $638.19, suggesting a potential upside of 10.18%.

Top Holdings with Upside and Downside Potential

SPY’s top five holdings with the most upside potential include Moderna (MRNA), LKQ Corp. (LKQ), First Solar (FSLR), Halliburton (HAL), and Biogen (BIIB).

Conversely, the holdings facing the greatest downside risk are Palantir Technologies (PLTR), Tesla (TSLA), Boston Properties (BXP), CBRE Group (CBRE), and AFLAC (AFL).

ETF Smart Score and Market Outlook

SPY received an ETF Smart Score of eight, indicating a solid likelihood of outperforming the broader market, which speaks to its potential as a valuable investment.

Conclusion

Investors looking to enhance their ETF strategies can explore TipRanks’ recommendations for top equity ETFs with significant upside potential.

Disclosure

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.