SPY vs $SPX divergence

[murrica]

Forgive me if this is a simplistic question.

Why did SPY diverge heavily (downward) from $SPX today? It is not as though an ETF is like a futures contract, which rolls over and has a cost of carry, right? Or does it? What am I missing?

Thanks in advance for your insight and objective input.

 

[GoldenMember]

Possibly ex-dividend date

http://lmgtfy.com/?q=spy+dividends

Not meant as snide remark, easier to post google searches...

 

[murrica]

Hehe, nice. I always use let me google that for you when I wish to subtly insult the person asking a question that was easily google-able.

 

[murrica]

Thanks for your input, that was the info I needed. Duh!

 

[GoldenMember]

It does serve that purpose on occasion lol.

Wasn't the intent this time. Glad it answered your question.

Cheers