So I look up S&P 500 to buy some and it turns out they don't have the symbol I want. Instead they give me SPHQ. I look up Dow Jones and I get DJXXF.
What? I thought that if it was on the market that I could buy it. Am I only limited to the funds they are willing to give me?
Also are S&P 500 and Dow Jones EFTs or index funds? I thought they were index funds, but now I'm confused because apparently it isn't an option.
I mean DJXXF? I can't even get a graph on it. What the hell is DJXXF. I don't want to buy that!
Wed Feb 10, 2016 11:40 pm
oldguy Senior Member
Cash: $ 717.80
Joined: 21 May 2006
Yeah, you're mixing 'index' with 'funds'. An index is a method for tracking stocks - the DJI is a measure of 30 major stocks (selected by the Dow Jones Company). But they don't sell stocks, they sell data. Same with the SP500 Index, the company selects and maintains the data for 500 stocks, averages their values, weights them, etc, in a way that the data represents the US market - and they sell that data - not the stocks. And there are a dozen of so other index companies that publish data.
And there are companies that package the stocks in an index into a fund - such as the SP500 Index Fund - it you can be SPY (an ETF), FUSEX (the Fidelity fund), VFIAX (the Vanguard fund). The DJI 30 stock ETF is the Diamonds (DIA)[/quote]