PBD vs SPY
Invesco Global Clean Energy ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PBD or SPY?
Mid Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. PBD led over 1Y, SPY over 3Y, 5Y and the full window. PBD is less concentrated, with 13.1% of the fund in its ten largest positions against 37.8%.
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 | PBD | SPY |
|---|---|---|
| Expense Ratio | 0.75% | 0.09%Best |
| AUM | $185M | $804.7B |
| Dividend Yield | 1.71% | 0.98% |
| Holdings | 124 | 505 |
| YTD Return | +3.94% | +12.09%Best |
| 1Y Return | +17.03%Best | +16.29% |
| 3Y Return (annualized) | +3.95% | +21.20%Best |
| 5Y Return (annualized) | -7.53% | +13.37%Best |
| Volatility (annualized) | 29.3% | 15.6%Best |
| Max Drawdown | -79.3% | -56.5%Best |
| $10,000 over 5 years | $6,761 | $18,728Best |
| Top 10 Weight | 13.1%Best | 37.8% |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Blend |
| Inception | Jun 13, 2007 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jun 13, 2007 to Sep 18, 2026 (19.3 years).
PBD 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 19.3 years both funds cover.
PBD vs SPY Performance
Invesco Global Clean Energy ETF (PBD) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PBD returned +17.03% while SPY returned +16.29%. Year to date, PBD is up 3.94% versus a gain of 12.09% for SPY.
Over three years, PBD compounded at +3.95% per year against +21.20% for SPY; over five years the annualized figures are -7.53% and +13.37% respectively. Across the full 19-year window we track, SPY has the edge at +9.15% annualized vs -1.39%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PBD has been the more volatile fund, with annualized monthly volatility of 29.3% compared with 15.6% 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 what each fund did in the worst stretch of the window measured above.
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 1.71% against 0.98% for SPY.
Holdings Overlap
2.0% of PBD's money is in holdings SPY also owns. 0.1% of SPY's money is in holdings PBD also owns.
PBD and SPY share little of their money.
2 positions in common, counted across the 110 positions we hold weights for in PBD and 504 in SPY, against full books of 124 and 505.
What only one of them owns
Our book lists 495 positions for SPY that do not appear in our book for PBD (99.3% of the fund), and 27 for PBD that do not appear in SPY (22.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of PBD 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, PBD or SPY?
PBD has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, PBD or SPY?
Over the past year PBD returned +17.03% vs +16.29% for SPY, so PBD leads on 1-year performance. Over the longest common window we track (19 years), PBD annualized -1.39% vs +9.15% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PBD or SPY?
PBD has been the more volatile fund at 29.3% annualized versus 15.6% 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 their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PBD and SPY?
2.0% of PBD's money is in holdings SPY also owns. 0.1% of SPY's is in holdings PBD also owns. They hold 2 positions in common, counted across the 110 positions we hold weights for in PBD and 504 in SPY.
Which pays a higher dividend, PBD or SPY?
PBD yields 1.71% while SPY yields 0.98%, so PBD currently pays the higher dividend yield.
Is SPY better than PBD?
SPY has a lower expense ratio. PBD led over 1Y, SPY over 3Y, 5Y and the full window. PBD is less concentrated, with 13.1% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.