PBJN vs SPY
PGIM S&P 500 Buffer 20 ETF - June vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | PBJN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $57M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 8 | 505 | |
| YTD Return | +4.30% | +12.22% | |
| 1Y Return | +7.90% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 4.9% | 15.3% | |
| Max Drawdown | -8.7% | -56.5% | |
| Fund Family | PGIM Investments | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | May 31, 2024 | Jan 22, 1993 |
PBJN vs SPY Performance
PGIM S&P 500 Buffer 20 ETF - June (PBJN) is a ETF from PGIM Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PBJN returned +7.90% while SPY returned +20.83%. Year to date, PBJN is up 4.30% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 4.9% for PBJN. 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 -8.7% for PBJN 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PBJN 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, PBJN currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, PBJN or SPY?
PBJN has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, PBJN or SPY?
Over the past year PBJN returned +7.90% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), PBJN annualized +10.51% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, PBJN or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.9% for PBJN. Worst drawdown: PBJN -8.7% vs SPY -56.5%.
Should I hold both PBJN and SPY?
PBJN and SPY have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, PBJN or SPY?
PBJN yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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