Question about index fund

[jumpthru]

I own the E*Trade SP index fund (etspx)...

I am curious how the SP500 went up 1 point today (.09%) yet the ETSPX went down -.4%

How is that possible?

[regular]

I know with my bank (TD) their index fund only buys shares in like 10 biggest companies of each sector in the index.

[Sniper]

[ QUOTE ]
I am curious how the SP500 went up 1 point today (.09%) yet the ETSPX went down -.4%

[/ QUOTE ]

It is most likely the result of end of month/quarter expenses being accounted for.

Take a look at this chart and you'll see that the lines are tight, but not exactly overlapping...
http://finance.yahoo.com/q/ta?s=ETSP...&c=%5EGSPC