PCOV vs SPY
Principal Equity Premium Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PCOV or SPY?
SPY costs less.
SPY has a lower expense ratio. PCOV is less concentrated, with 32.6% of the fund in its ten largest positions against 37.8%.
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 | PCOV | SPY |
|---|---|---|
| Expense Ratio | 0.34% | 0.09%Best |
| AUM | $10M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 49 | 505 |
| YTD Return | -3.61% | +11.45%Best |
| 1Y Return | - | +15.87% |
| 3Y Return (annualized) | - | +20.93% |
| 5Y Return (annualized) | - | +12.59% |
| Top 10 Weight | 32.6%Best | 37.8% |
| Fund Family | PRINCIPAL EXCHANGE-TRADED FUNDS | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Aug 18, 2026 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
PCOV 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.
PCOV vs SPY Performance
Principal Equity Premium Income ETF (PCOV) is an ETF from PRINCIPAL EXCHANGE-TRADED FUNDS and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Year to date, PCOV is down 3.61% versus a gain of 11.45% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
PCOV charges 0.34% per year while SPY charges 0.09%. On a $10,000 position that is $34 vs $9 annually, a gap of $25 per year that compounds over a long holding period. On income, PCOV currently yields 0.00% against 0.98% for SPY.
Holdings Overlap
88.5% of PCOV's money is in holdings SPY also owns. 30.1% of SPY's money is in holdings PCOV also owns.
Most of PCOV is already inside SPY. Owning both mostly buys the same companies twice.
42 positions in common, counted across the 49 positions we hold weights for in PCOV and 504 in SPY, against full books of 49 and 505.
What only one of them owns
Our book lists 455 positions for SPY that do not appear in our book for PCOV (69.2% of the fund), and 3 for PCOV that do not appear in SPY (4.7%).
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 PCOV | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 4.54% | 7.26% | 2.72% |
| MSFTMicrosoft Corp | 4.09% | 5.66% | 1.57% |
| JPMJpmorgan Chase | 4.02% | 1.45% | 2.57% |
| GOOGLAlphabet Inc,class A | 2.33% | 2.99% | 0.66% |
| AVGOBroadcom Inc | 2.24% | 2.66% | 0.42% |
| MSMorgan Stanley | 3.23% | 0.38% | 2.85% |
| COSTCostco Wholesale Corp. | 2.86% | 0.63% | 2.23% |
| MRKMerck & Company Inc | 2.70% | 0.56% | 2.14% |
| WMTWalmart, Inc. | 2.52% | 0.71% | 1.81% |
| LLYEli Lilly & Co. | 1.82% | 1.40% | 0.42% |
88.5% of PCOV 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, PCOV or SPY?
PCOV has an expense ratio of 0.34% while SPY charges 0.09%. SPY is the cheaper option, by $25 a year on a $10,000 investment.
What is the holdings overlap between PCOV and SPY?
88.5% of PCOV's money is in holdings SPY also owns. 30.1% of SPY's is in holdings PCOV also owns. They hold 42 positions in common, counted across the 49 positions we hold weights for in PCOV and 504 in SPY.
Which pays a higher dividend, PCOV or SPY?
PCOV yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than PCOV?
SPY has a lower expense ratio. PCOV is less concentrated, with 32.6% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.