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GameStop (NYSE: GME), for example, blew up the internet earlier in the year when a bunch of Reddit users drove its share price upward, resulting in a world of pain for the hedge funds that got stuck in a short squeeze. Index funds are passively managed funds that aim to match the performance of the market indexes they're associated with. S&P 500 index funds follow the S&P 500 itself, which is comprised of the 500 largest publicly traded companies.