Chamath Palihapitiya Says S&P 500 Index ETFs Need To Be 'Fixed' Or They Will End In 'Disaster' — Here Is What The Billionaire Investor Said
Chamath Palihapitiya Says S&P 500 Index ETFs Need To Be 'Fixed' Or They Will End In 'Disaster' — Here Is What The Billionaire Investor Said
Financial market participants who prefer to invest in exchange-traded funds for their diversification benefits could be "in for a rude awakening," says this venture capitalist, as the top ten stocks in the S&P 500 represent 40% of the index market capitalization.
偏好投资于可交易ETF以获取多元化利益的金融市场参与者可能会遭遇"粗暴的觉醒"，这位风险投资家表示，标普500指数中的前十只股票占据了该指数市值的40%。
What Happened: Chamath Palihapitiya, the billionaire investor, and former Facebook executive, explains that greater concentration in a few stocks increases the risks of investing.
发生了什么：亿万富翁投资者、前Facebook高管Chamath Palihapitiya解释说，少数几只股票的更高集中度增加了投资风险。
He highlighted the inequality in the weight of the stocks within the S&P 500 index in an X post on Sunday and said, "If there is any market volatility, the lack of diversification could cause massive impairment."
他在周日的X发帖中强调了标普500指数内股票权重的不平等，并表示："如果市场出现波动，缺乏多元化可能会导致巨大的损失。"
Kevin Gordon, the director and senior investment strategist at Charles Schwab shared a graphic showing the same.
嘉信理财的董事兼高级投资策略师Kevin Gordon分享了一幅显示相同内容的图表。
Equal weight ETF's are always available.
— Spencer Hakimian (@SpencerHakimian) December 28, 2024
平权ETF始终可用。
— Spencer Hakimian (@SpencerHakimian) 2024年12月28日
However, this holds true for ETFs mirroring S&P 500's weights. Spencer Hakimian, the founder of Tolou Capital Management, replied, to Palihapitiya's post and said that "Equal weight ETF's are always available." However, such ETfs also come with their rebalancing and tax costs,
然而，这适用于反映标普500权重的ETF。Tolou Capital Management的创始人Spencer Hakimian回复了Palihapitiya的发帖，表示"平权ETF始终可用。"然而，这些ETF也会带来再平衡和税务成本。
Why It Matters: The following are the top ten stocks by index weight within the S&P 500 index. These stocks include the 'Magnificent Seven' stocks with various classes of their shares, along with Broadcom Inc (NASDAQ:AVGO) and Berkshire Hathaway (NYSE:BRK). The information technology sector has the highest weightage among the top 10 S&P 500 constituents.
重要性：以下是标普500指数中按权重排名的前十只股票。这些股票包括"科技七巨头"股票及其不同类别的股份，以及BROADCORP 8.00% MANDATORY CONVERTIBLE PRF SR A和伯克希尔·哈撒韦（纽交所：BRK）。信息技术板块在前10只标普500成分股中占据最高权重。
| Constituent | Symbol | Sector |
| Apple Inc | (NASDAQ:AAPL) | Information Technology |
| Nvidia Corp | (NASDAQ:NVDA) | Information Technology |
| Microsoft Corp | (NASDAQ:MSFT) | Information Technology |
| Amazon.com Inc | (NASDAQ:AMZN) | Consumer Discretionary |
| Meta Platforms Inc | (NASDAQ:META) | Communication Services |
| Alphabet Inc A | (NASDAQ:GOOGL) | Communication Services |
| Tesla Inc | (NASDAQ:TSLA) | Consumer Discretionary |
| Berkshire Hathaway | (NYSE:BRK) | Financials |
| Alphabet Inc C | (NASDAQ:GOOG) | Communication Services |
| Broadcom Inc | (NASDAQ:AVGO) | Information Technology |
| 成分 | 标的 | 板块 |
| 苹果公司 | (纳斯达克:AAPL) | 信息技术 |
| 英伟达公司 | (纳斯达克:NVDA) | 信息技术 |
| 微软CORP | (纳斯达克:MSFT) | 信息技术 |
| 亚马逊公司 | (纳斯达克:AMZN) | 消费 |
| meta platforms | (纳斯达克：META) | 通信服务 |
| Alphabet Inc A | (纳斯达克：GOOGL) | 通信服务 |
| 特斯拉公司 | (纳斯达克：TSLA) | 消费 |
| 伯克希尔哈撒韦 | (纽交所:BRK) | 金融 |
| Alphabet Inc C | (纳斯达克:GOOG) | 通信服务 |
| Broadcom公司8.00%可转换优先股A类 | (纳斯达克:AVGO) | 信息技术 |
For a market capitalization-weighted index, the weights are typically proportional to a company's market cap, giving larger companies greater influence. However, an equal-weighted Index assigns the same weight to each constituent stock, regardless of its market size.
对于市值加权指数，权重通常与公司的市值成正比，给予大公司更大的影响力。然而，等权重指数对每个成分股票分配相同的权重，无论其市场规模如何。
The S&P 500 Index has outperformed the S&P 500 Equal Weight Index this year and the same is the case with the ETFs tracking these indices. The SPDR S&P 500 ETF Trust (NYSE:SPY) was up 25.89% this year, while the Invesco S&P 500 Equal Weight ETF (NYSE:RSP) gained only 11.94% in 2024.
标普500指数今年表现优于标普500等权重指数，与这些指数跟踪的ETF情况相同。SPDR 标普500指数ETF（纽交所：SPY）今年上涨了25.89%，而景顺标普500等权重ETF（纽交所：RSP）在2024年仅上涨了11.94%。
| Index/ETF | Six Months | YTD |
| S&P 500 Index | 9.05% | 25.89% |
| SPDR S&P 500 ETF Trust | 9.11% | 25.89% |
| S&P 500 Equal Weight Index | 8.33% | 11.88% |
| Invesco S&P 500 Equal Weight ETF | 8.43% | 11.94% |
| 指数/ETF | 六个月 | 年初至今 |
| 标普500指数 | 9.05% | 25.89% |
| SPDR 标普500指数ETF Trust | 9.11% | 25.89% |
| 标普500等权重指数 | 8.33% | 11.88% |
| Invesco S&P 500等权重可交易ETF | 8.43% | 11.94% |
Photo by TechCrunch on Flickr
图片来源于TechCrunch在Flickr上
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