Index proxy
A well-known ETF used to represent an index.
Also known as: Tracking ETF, Bellwether ETF
In detail
An index proxy is a widely held ETF that tracks a benchmark closely enough to stand in for it — for example QQQ for the Nasdaq-100 or SPY for the S&P 500. Official index weights are proprietary, so the tracking ETF’s weights are used in their place.
Where you’ll see this
Synoptiv annotates this term wherever it appears in a stock analysis. Browse analyzed stocks to see it in context.