The event was inaugurated at Aqueduct Racetrack in 1975 as a six furlong sprint on dirt for three-year-old horses. Beginning in 1977, it was hosted by Belmont Park then in 1992 was moved to the Saratoga Race Course. Since inception, the Sword Dancer has been contested at various distances:
6 furlongs : 1975–1976 (on dirt)
8.5 furlongs (1+1⁄16 miles) : 1977–1979
12 furlongs (1+1⁄2 miles) : 1980–present (on turf)
The race was run as an Invitational Handicap from 1994 to 2014.
In 2000, nine-year-old John's Call became the oldest horse to win this race.
Records
Speed record: (at current distance of 1+1⁄2 miles)