PCMM vs SPY
BondBloxx Private Credit CLO ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PCMM or SPY?
Bank Loan against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y 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 | PCMM | SPY |
|---|---|---|
| Expense Ratio | 0.68% | 0.09%Best |
| AUM | $209M | $804.7B |
| Dividend Yield | 6.36% | 0.98% |
| Holdings | 82 | 505 |
| YTD Return | +3.85% | +12.09%Best |
| 1Y Return | +5.48% | +16.29%Best |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 2.5%Best | 12.7% |
| Max Drawdown | -4.0%Best | -18.8% |
| $10,000 over 1.8 years | $11,350 | $12,889Best |
| Fund Family | BondBloxx | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Bank Loan | Large Cap Blend |
| Inception | Dec 2, 2024 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 3, 2024 to Sep 18, 2026 (1.8 years).
PCMM 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 1.8 years both funds cover.
PCMM vs SPY Performance
BondBloxx Private Credit CLO ETF (PCMM) is an ETF from BondBloxx and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PCMM returned +5.48% while SPY returned +16.29%. Year to date, PCMM is up 3.85% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.7% compared with 2.5% for PCMM. 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 PCMM and -18.8% 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 0.38. They move together some of the time, and apart the rest.
Fees and Cost Over Time
PCMM charges 0.68% per year while SPY charges 0.09%. On a $10,000 position that is $68 vs $9 annually, a gap of $59 per year that compounds over a long holding period. On income, PCMM currently yields 6.36% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of PCMM 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, PCMM or SPY?
PCMM has an expense ratio of 0.68% while SPY charges 0.09%. SPY is the cheaper option, by $59 a year on a $10,000 investment.
Which performed better, PCMM or SPY?
Over the past year PCMM returned +5.48% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), PCMM annualized +7.29% vs +15.14% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PCMM or SPY?
SPY has been the more volatile fund at 12.7% annualized versus 2.5% for PCMM. Worst drawdown: PCMM -4.0% vs SPY -18.8%.
Should I hold both PCMM and SPY?
PCMM and SPY have a monthly-return correlation of 0.38, 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, PCMM or SPY?
PCMM yields 6.36% while SPY yields 0.98%, so PCMM currently pays the higher dividend yield.
Is SPY better than PCMM?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.