PCFI vs SPY
Polen Floating Rate Income ETF 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 503 holdings.
Side-by-Side Comparison
| Metric | PCFI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.49% | 0.09% | |
| AUM | $8M | $789.1B | |
| Dividend Yield | 9.51% | 1.01% | |
| Holdings | 124 | 505 | |
| YTD Return | +0.91% | +13.75% | |
| 1Y Return | -0.82% | +22.91% | |
| 3Y Return (annualized) | - | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 4.5% | 15.3% | |
| Max Drawdown | -4.0% | -56.5% | |
| Fund Family | Polen Capital | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Mar 24, 2025 | Jan 22, 1993 |
PCFI vs SPY Performance
Polen Floating Rate Income ETF (PCFI) is a ETF from Polen Capital and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PCFI returned -0.82% while SPY returned +22.91%. Year to date, PCFI is up 0.91% versus a gain of 13.75% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 4.5% for PCFI. 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 -4.0% for PCFI 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 0.41. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PCFI charges 0.49% per year while SPY charges 0.09%. On a $10,000 position that is $49 vs $9 annually, a gap of $40 per year that compounds over a long holding period. On income, PCFI currently yields 9.51% against 1.01% for SPY.
Holdings Overlap
PCFI and SPY share 0 holdings out of 524 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PCFI or SPY?
PCFI has an expense ratio of 0.49% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $40 per year of difference.
Which performed better, PCFI or SPY?
Over the past year PCFI returned -0.82% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), PCFI annualized +1.84% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, PCFI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.5% for PCFI. Worst drawdown: PCFI -4.0% vs SPY -56.5%.
Should I hold both PCFI and SPY?
PCFI and SPY have a monthly-return correlation of 0.41, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PCFI and SPY?
PCFI and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 524 unique securities.
Which pays a higher dividend, PCFI or SPY?
PCFI yields 9.51% while SPY yields 1.01%, so PCFI currently pays the higher dividend yield.
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