Alternatives to SPY

The Pro-Folio Original portfolio holds SPY (SPDR S&P 500 Trust ETF) because the model was backtested to 1973 using the S&P 500 index as one of the portfolio components – and SPY is about the most efficient way to gain exposure to the S&P 500 index in your portfolio. (No one can invest directly in an index, you must invest in a financial instrument that is designed to reflect the performance of the index.) 

However, if keeping to the *exact* indexes that were tested in the model is not of vital importance to you, you can likely find better long-term performance in other investment securities that still reflect the performance of the broad US stock market. 
Here’s an article I wrote on, that discusses this very issue:
Happy reading!
Best regards-

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