SpaceX的案例，为验证被动跟踪指数基金是否正在扭曲股市，提供了一个绝佳的试验场。这家业务横跨火箭与社交媒体的公司，今日正式进入纳斯达克100指数，迫使规模庞大的QQQ交易所交易基金（ETF）必须购入其股票。
然而，初步结果却令那些期待自动化的指数买入行为能推高SpaceX股价的投资者感到失望。尽管SpaceX已被纳入富时罗素、CRSP和MSCI等指数，这些指数背后有数千亿美元的资金追踪，但截至昨日收盘，其股价仍略低于上市首日的收盘价。
那些在首次公开募股（IPO）时以每股135美元买入并持有至今的投资者，目前仍有约19%的浮盈。但需注意的是，这些收益全部是在上市首日实现的。若想进一步了解为何纳入指数并未如许多人期望的那样成为SpaceX股价表现的助推器，可参阅我几周前在《Streetwise》专栏中的分析。
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