The SPDR S&P 500 Trust ETF (NYSEARCA:SPY), which is the world’s largest exchange traded fund, just celebrated its 30th birthday over the weekend.

The ETF, issued by State Street Global Advisors and boasting $369.87B assets under management, was Wall Street’s first benchmark ETF to track the price movements of the S&P 500 (SP500). It began trading on Jan. 22, 1993.

SPY has become a staple in the investment community trading, tallying an average daily volume of more than 83M shares per day.

Additionally, the popularity of SPY over the past three decades has inspired other asset managers to launch competing products. This includes BlackRock and Vanguard, which have their versions of S&P 500 tracking funds in the iShares Core S&P 500 ETF (NYSEARCA:IVV) and the Vanguard 500 Index Fund (NYSEARCA:VOO).

SPY pioneered the idea of benchmark tracking ETFs and now together SPY, IVV, and VOO are the three largest ETFs on the market. Together, these funds oversee nearly $1T in assets.

While SPY had a difficult 2022, declining 18.1%, its previously had years in 2021, 2020, and 2019 where it returned +28.6%, +18.4%, and +31.3%, respectively. To start off the 2023 trading year, SPY is +4.1% and has moved higher by 0.8% on Monday.

In broader market moves, the major market averages including the S&P 500 opened Monday’s trading session to the topside as earnings season shifts into higher gear.