请问两个SPY分红的问题。 - 未名空间MITBBS历史存档

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请问两个SPY分红的问题。

请问两个SPY分红的问题。# Stock

p*e2019-03-17 07:03

1 楼

3/15是SPY的ex-dividend的日子，我有两个不太明白的问题。
1.请问是不是说如果不考虑市场波动的情况下，如果SPY15号分红了1$，那么明天SPY明天
的价格就会减少1$.
2.如果SPY的价格减少1$,那么SPX就是指数会怎么变呢？换句话说指数自己包括分红吗？
谢谢。

h*62019-03-17 07:03

2 楼

spy分红，spx不分红。spy比spx/10涨幅快，考虑分红，spy总是围绕spx/10上下波动。
最简单的无风险套利就是做多spy并做空spx。

x*u2019-03-17 07:03

3 楼

这世上哪来的合法无风险套利

【在 h**6 的大作中提到】

: spy分红，spx不分红。spy比spx/10涨幅快，考虑分红，spy总是围绕spx/10上下波动。
: 最简单的无风险套利就是做多spy并做空spx。

m*32019-03-17 07:03

4 楼

收益率就是一年2%分红。跟存CD 一样，
[在 han6 (周瑜) 的大作中提到：]
:spy分红，spx不分红。spy比spx/10涨幅快，考虑分红，spy总是围绕spx/10上下波动
。最简单的无风险套利就是做多spy并做空spx。

r*k2019-03-17 07:03

5 楼

SPX是指数,一般直接用市值算,分红后就会白白降低.工商银行分红能拉低上证指数近10
点.

E*r2019-03-17 07:03

6 楼

No, SPX tracks total returns, and assumes dividend reinvestments.

10

【在 r***k 的大作中提到】

: SPX是指数,一般直接用市值算,分红后就会白白降低.工商银行分红能拉低上证指数近10
: 点.

r*k2019-03-17 07:03

7 楼

Per Wiki:
https://en.wikipedia.org/wiki/S%26P_500_Index
The "S&P 500" generally quoted is a price return index; there are also "
total return" and "net total return" versions of the index. These versions
differ in how dividends are accounted for. The price return version does not
account for dividends; it only captures the changes in the prices of the
index components. The total return version reflects the effects of dividend
reinvestment. Finally, the net total return version reflects the effects of
dividend reinvestment after the deduction of withholding tax.[40][41]

【在 E***r 的大作中提到】

: No, SPX tracks total returns, and assumes dividend reinvestments.
:
: 10

E*r2019-03-17 07:03

8 楼

Thanks, I think you are right in that SPX does not include dividends.
I don’t see any free lunch opportunity, though. Cash indices are not
directly tradable; and SPX options are priced off the dividend- and interest
- adjusted value on the expiry, not the raw index itself.
The wiki page also mentions that S&P has a proprietary way of adjusting the
market cap divisors after corporation actions such as dividend distribution.
Do you think the mentioning of dividend could be a mistake?

not
dividend
of

【在 r***k 的大作中提到】

: Per Wiki:
: https://en.wikipedia.org/wiki/S%26P_500_Index
: The "S&P 500" generally quoted is a price return index; there are also "
: total return" and "net total return" versions of the index. These versions
: differ in how dividends are accounted for. The price return version does not
: account for dividends; it only captures the changes in the prices of the
: index components. The total return version reflects the effects of dividend
: reinvestment. Finally, the net total return version reflects the effects of
: dividend reinvestment after the deduction of withholding tax.[40][41]