PBD vs SPY
Invesco Global Clean Energy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. PBD delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PBD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $186M | $789.1B | |
| Dividend Yield | 1.55% | 1.01% | |
| Holdings | 126 | 505 | |
| YTD Return | +9.77% | +13.75% | |
| 1Y Return | +35.80% | +22.91% | |
| 3Y Return (annualized) | +2.33% | +21.67% | |
| 5Y Return (annualized) | -7.62% | +13.32% | |
| Volatility (annualized) | 29.4% | 15.3% | |
| Max Drawdown | -79.3% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 13, 2007 | Jan 22, 1993 |
PBD vs SPY Performance
Invesco Global Clean Energy ETF (PBD) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PBD returned +35.80% while SPY returned +22.91%. Year to date, PBD is up 9.77% versus a gain of 13.75% for SPY.
Over three years, PBD compounded at +2.33% per year against +21.67% for SPY; over five years the annualized figures are -7.62% and +13.32% respectively. Across the full 19-year window we track, SPY has the edge at +8.85% annualized vs -1.11%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PBD has been the more volatile fund, with annualized monthly volatility of 29.4% compared with 15.3% for SPY. 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 -79.3% for PBD and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PBD charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, PBD currently yields 1.55% against 1.01% for SPY.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, PBD or SPY?
PBD has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, PBD or SPY?
Over the past year PBD returned +35.80% vs +22.91% for SPY, so PBD leads on 1-year performance. Over the longest common window we track (19 years), PBD annualized -1.11% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, PBD or SPY?
PBD has been the more volatile fund at 29.4% annualized versus 15.3% for SPY. Worst drawdown: PBD -79.3% vs SPY -56.5%.
Should I hold both PBD and SPY?
PBD and SPY have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PBD and SPY?
PBD and SPY share 2 common holdings with a 0.1% weight overlap. Combined, they hold 611 unique securities.
Which pays a higher dividend, PBD or SPY?
PBD yields 1.55% while SPY yields 1.01%, so PBD currently pays the higher dividend yield.
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