ED vs SPY: Consolidated Edison Inc. vs SPDR S&P 500 ETF Trust Historical Returns & Investment Comparison

Consolidated Edison Inc. (Con Edison) is one of the largest investor-owned energy companies in the United States, with approximately $14 billion in annual revenues and $66 billion in assets. The company provides electric, gas, and steam service to customers in New York City and Westchester County, New York. Con Edison is focused on delivering safe, reliable, and sustainable energy solutions to its millions of customers, actively investing in clean energy technologies and modernizing its infrastructure.

Key Innovations

• ✓Proprietary technology architecture developed by Consolidated Edison Inc. to optimize operational performance.
• ✓Investing in innovative battery storage solutions and electric vehicle charging infrastructure to support the transition to a clean energy future.
• ✓Integration of advanced data analytics and automation into core operational workflows.
• ✓Strategic R&D investment driving next-generation solution design and market differentiation.
• ✓Pioneering the use of advanced smart grid technologies to enhance grid resilience, optimize energy delivery, and integrate renewable energy sources.
• ✓Expansion of digital transformation initiatives across product engineering and customer delivery.

Business Segments

• Consolidated Edison Company of New York (CECONY)
  Provides electric service to New York City and Westchester County, gas service to Manhattan, the Bronx, and parts of Queens and Westchester, and steam service to Manhattan.
• Orange and Rockland Utilities (O&R)
  Provides electric service to customers in southeastern New York and adjacent areas of northern New Jersey and northeastern Pennsylvania, and gas service to customers in southeastern New York and adjacent areas of northern New Jersey.
• Con Edison Clean Energy Businesses
  Invests in renewable energy infrastructure projects, including solar and wind generation facilities across North America.

SPDR S&P 500 ETF Trust (SPY) is an exchange-traded fund managed by State Street Global Advisors that provides investors with targeted exposure to U.S. Large-Cap Equity by tracking the S&P 500 Index. The fund is structured to offer efficient, liquid, and low-cost access to its underlying asset class, utilizing continuous creation and redemption mechanisms to maintain tight alignment between market price and Net Asset Value (NAV). Widely utilized by institutional wealth managers, pension funds, and retail investors alike, SPY plays a central role in modern portfolio construction, asset allocation, and tactical risk management.

Key Innovations

• ✓Intra-day secondary market liquidity for benchmark S&P 500 Index exposure.
• ✓In-kind creation and redemption process mitigating embedded tax capital gains distributions.
• ✓Ultra-low expense ratio cost structure enabling compounding long-term investment returns.
• ✓Institutional-grade portfolio transparency with daily published holding disclosure.

Business Segments

• Core Equity / Asset Portfolio
  Direct holdings of underlying constituent securities comprising the S&P 500 Index.
• Creation and Redemption Mechanism
  Operational framework facilitating institutional Authorized Participants in exchanging basket securities for fund shares.
• Securities Lending & Yield Optimization
  Program generating incremental income by lending portfolio securities to institutional counterparties under collateralized agreements.