PCLG vs SPY
Polen Focus Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PCLG or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 64.7%.
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 | PCLG | SPY |
|---|---|---|
| Expense Ratio | 0.49% | 0.09%Best |
| AUM | $92M | $804.7B |
| Dividend Yield | 0.04% | 0.98% |
| Holdings | 27 | 505 |
| YTD Return | -8.32% | +11.52%Best |
| 1Y Return | -10.44% | +17.48%Best |
| 3Y Return (annualized) | - | +20.62% |
| 5Y Return (annualized) | - | +12.73% |
| Volatility (annualized) | 18.6% | 13.3%Best |
| Top 10 Weight | 64.7% | 38.0%Best |
| Fund Family | Polen Capital | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Sep 30, 2025 | Jan 22, 1993 |
Not shown on this pair: Max Drawdown, $10,000 over the window.
PCLG 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
PCLG vs SPY Performance
Polen Focus Growth ETF (PCLG) is an ETF from Polen Capital and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PCLG returned -10.44% while SPY returned +17.48%. Year to date, PCLG is down 8.32% versus a gain of 11.52% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PCLG has been the more volatile fund, with annualized monthly volatility of 18.6% compared with 13.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PCLG 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, PCLG currently yields 0.04% against 0.98% for SPY.
Holdings Overlap
91.4% of PCLG's money is in holdings SPY also owns. 30.8% of SPY's money is in holdings PCLG also owns.
Most of PCLG is already inside SPY. Owning both mostly buys the same companies twice.
23 positions in common, counted across the 27 positions we hold weights for in PCLG and 504 in SPY, against full books of 27 and 505.
What only one of them owns
Our book lists 471 positions for SPY that do not appear in our book for PCLG (68.7% of the fund), and 1 for PCLG that do not appear in SPY (1.6%).
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.
Top Shared Holdings
| Stock | Weight in PCLG | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 6.95% | 7.71% | 0.76% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 7.63% | 5.50% | 2.13% |
| AMZNAmazon.Com Inc | 5.83% | 4.08% | 1.75% |
| AVGOBroadcom Inc | 6.88% | 2.97% | 3.91% |
| GOOGAlphabet Inc | 6.55% | 2.67% | 3.88% |
| LLYEli Lilly & Co. | 7.72% | 1.33% | 6.39% |
| VVisa Inc | 6.08% | 0.92% | 5.16% |
| MAMastercard Inc | 5.73% | 0.69% | 5.04% |
| NOWServicenow, Inc. | 6.05% | 0.18% | 5.87% |
| ORCLOracle Corp. | 4.21% | 0.37% | 3.84% |
91.4% of PCLG is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PCLG or SPY?
PCLG has an expense ratio of 0.49% while SPY charges 0.09%. SPY is the cheaper option, by $40 a year on a $10,000 investment.
Which performed better, PCLG or SPY?
Over the past year PCLG returned -10.44% vs +17.48% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PCLG or SPY?
PCLG has been the more volatile fund at 18.6% annualized versus 13.3% for SPY.
Should I hold both PCLG and SPY?
PCLG and SPY have a monthly-return correlation of 0.82, 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 PCLG and SPY?
91.4% of PCLG's money is in holdings SPY also owns. 30.8% of SPY's is in holdings PCLG also owns. They hold 23 positions in common, counted across the 27 positions we hold weights for in PCLG and 504 in SPY.
Which pays a higher dividend, PCLG or SPY?
PCLG yields 0.04% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than PCLG?
SPY has a lower expense ratio. SPY led over 1Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 64.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.