For loop question

I have this code:
IEF <- to.monthly(IEF, indexAt="endof")
SPY <- to.monthly(SPY, indexAt="endof")

I would like to use a for loop instead of separate entries,
so the only code that needs to be modified is the list
of symbols.

symbols <- c("IEF", "SPY")
for(symbol in symbols) {
      symbol <- to.monthly(symbol, indexAt="endof")
}
This for loop doesn't work. It puts each output into  
*symbol *not into *IEF *and *SPY*.
How do I put the output into the existing objects using
a for loop?

Note: to.monthly() is an xts function



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