PBTP vs SPY
Invesco 0-5 Yr US TIPS ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PBTP or SPY?
Inflation Protection against Large Cap Blend.
PBTP has a lower expense ratio. SPY led over 1Y, 3Y, 5Y 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 | PBTP | SPY |
|---|---|---|
| Expense Ratio | 0.07%Best | 0.09% |
| AUM | $235M | $804.7B |
| Dividend Yield | 4.80% | 0.98% |
| Holdings | 26 | 505 |
| YTD Return | -0.87% | +11.52%Best |
| 1Y Return | -1.87% | +17.48%Best |
| 3Y Return (annualized) | +3.59% | +20.62%Best |
| 5Y Return (annualized) | +2.15% | +12.73%Best |
| Volatility (annualized) | 2.6%Best | 16.2% |
| Max Drawdown | -5.4%Best | -34.1% |
| $10,000 over 5 years | $11,122 | $18,205Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Inflation Protection | Large Cap Blend |
| Inception | Sep 19, 2017 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 22, 2017 to Sep 10, 2026 (9 years).
PBTP 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 9 years both funds cover.
PBTP vs SPY Performance
Invesco 0-5 Yr US TIPS ETF (PBTP) 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 PBTP returned -1.87% while SPY returned +17.48%. Year to date, PBTP is down 0.87% versus a gain of 11.52% for SPY.
Over three years, PBTP compounded at +3.59% per year against +20.62% for SPY; over five years the annualized figures are +2.15% and +12.73% respectively. Across the full 9-year window we track, SPY has the edge at +14.13% annualized vs +2.84%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 16.2% compared with 2.6% for PBTP. 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 -5.4% for PBTP and -34.1% 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 0.52. They move together some of the time, and apart the rest.
Fees and Cost Over Time
PBTP charges 0.07% per year while SPY charges 0.09%. On a $10,000 position that is $7 vs $9 annually, a gap of $2 per year that compounds over a long holding period. On income, PBTP currently yields 4.80% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 24 holdings in PBTP and 504 in SPY, totalling 90.3% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 24 positions we hold weights for in PBTP and 504 in SPY, against full books of 26 and 505.
You are not choosing between two funds in isolation.
Whichever of PBTP 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, PBTP or SPY?
PBTP has an expense ratio of 0.07% while SPY charges 0.09%. PBTP is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, PBTP or SPY?
Over the past year PBTP returned -1.87% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (9 years), PBTP annualized +2.84% vs +14.13% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PBTP or SPY?
SPY has been the more volatile fund at 16.2% annualized versus 2.6% for PBTP. Worst drawdown: PBTP -5.4% vs SPY -34.1%.
Should I hold both PBTP and SPY?
PBTP and SPY have a monthly-return correlation of 0.52, 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, PBTP or SPY?
PBTP yields 4.80% while SPY yields 0.98%, so PBTP currently pays the higher dividend yield.
Is SPY better than PBTP?
PBTP has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.