PBAP vs SPY
PGIM S&P 500 Buffer 20 ETF - April vs State Street SPDR S&P 500 ETF Trust
Which is better, PBAP or SPY?
Option Writing against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PBAP | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $36M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 8 | 505 |
| YTD Return | +9.02% | +12.09%Best |
| 1Y Return | +11.39% | +16.29%Best |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 4.5%Best | 11.8% |
| Max Drawdown | -9.7%Best | -18.8% |
| $10,000 over 2.5 years | $12,670 | $15,071Best |
| Fund Family | PGIM Investments | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Option Writing | Large Cap Blend |
| Inception | Mar 29, 2024 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.5 years row, are measured over the window both funds cover: Apr 1, 2024 to Sep 18, 2026 (2.5 years).
PBAP vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.5 years both funds cover.
PBAP vs SPY Performance
PGIM S&P 500 Buffer 20 ETF - April (PBAP) is an ETF from PGIM Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PBAP returned +11.39% while SPY returned +16.29%. Year to date, PBAP is up 9.02% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 11.8% compared with 4.5% for PBAP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -9.7% for PBAP and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PBAP charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, PBAP currently yields 0.00% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of PBAP and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PBAP or SPY?
PBAP has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option, by $41 a year on a $10,000 investment.
Which performed better, PBAP or SPY?
Over the past year PBAP returned +11.39% vs +16.29% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PBAP or SPY?
SPY has been the more volatile fund at 11.8% annualized versus 4.5% for PBAP. Worst drawdown: PBAP -9.7% vs SPY -18.8%.
Should I hold both PBAP and SPY?
PBAP and SPY have a monthly-return correlation of 0.85, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, PBAP or SPY?
PBAP yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than PBAP?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.