PCR vs SPY
Simplify VettaFi Private Credit Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PCR or SPY?
High Yield Bond 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 | PCR | SPY |
|---|---|---|
| Expense Ratio | 0.76% | 0.09%Best |
| AUM | $2M | $811.2B |
| Dividend Yield | 10.74% | 0.98% |
| Holdings | 538 | 1,515 |
| YTD Return | -13.87% | +13.54%Best |
| 1Y Return | -18.70% | +16.25%Best |
| 3Y Return (annualized) | - | +23.72% |
| 5Y Return (annualized) | - | +13.95% |
| Volatility (annualized) | 16.4% | 12.6%Best |
| Max Drawdown | -20.1% | -8.9%Best |
| $10,000 over 1 years | $8,139 | $11,686Best |
| Fund Family | Simplify Exchange Traded Funds | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | High Yield Bond | Large Cap Blend |
| Inception | Sep 22, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1 years row, are measured over the window both funds cover: Sep 23, 2025 to Oct 2, 2026 (1 years).
PCR 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 years both funds cover.
PCR vs SPY Performance
Simplify VettaFi Private Credit Strategy ETF (PCR) is an ETF from Simplify Exchange Traded Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PCR returned -18.70% while SPY returned +16.25%. Year to date, PCR is down 13.87% versus a gain of 13.54% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PCR has been the more volatile fund, with annualized monthly volatility of 16.4% compared with 12.6% for SPY. 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 -20.1% for PCR and -8.9% 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 0.49. They move together some of the time, and apart the rest.
Fees and Cost Over Time
PCR charges 0.76% per year while SPY charges 0.09%. On a $10,000 position that is $76 vs $9 annually, a gap of $67 per year that compounds over a long holding period. On income, PCR currently yields 10.74% against 0.98% for SPY.
Holdings Overlap
At least 47.2% of SPY's money is in holdings PCR also owns.
Only one direction is shown: for PCR, our book for it lists positions totalling 156.9% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
The two portfolios partly overlap.
119 positions in common, counted across the 257 positions we hold weights for in PCR and 504 in SPY, against full books of 538 and 1,515.
Top Shared Holdings
| Stock | Weight in PCR | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 0.34% | 7.78% | 7.44% |
| AAPLApple, Inc | 0.36% | 7.45% | 7.09% |
| MSFTMicrosoft Corp | 0.43% | 5.71% | 5.28% |
| GOOGLAlphabet Inc,class A | 0.32% | 3.12% | 2.80% |
| AVGOBroadcom Inc | 0.29% | 2.48% | 2.19% |
| METAMeta Platforms Inc | 0.38% | 2.22% | 1.84% |
| JPMJpmorgan Chase | 0.33% | 1.43% | 1.10% |
| VVisa Inc Class A | 0.36% | 0.95% | 0.59% |
| MAMastercard Inc | 0.37% | 0.71% | 0.34% |
| ABBVAbbvie Inc. | 0.35% | 0.70% | 0.35% |
47.2% of SPY is already inside PCR.
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, PCR or SPY?
PCR has an expense ratio of 0.76% while SPY charges 0.09%. SPY is the cheaper option, by $67 a year on a $10,000 investment.
Which performed better, PCR or SPY?
Over the past year PCR returned -18.70% vs +16.25% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), PCR annualized -18.61% vs +16.86% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PCR or SPY?
PCR has been the more volatile fund at 16.4% annualized versus 12.6% for SPY. Worst drawdown: PCR -20.1% vs SPY -8.9%.
Should I hold both PCR and SPY?
PCR and SPY have a monthly-return correlation of 0.49, 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 PCR and SPY?
At least 47.2% of SPY's money is in holdings PCR also owns. Our book for PCR is partial, so the real figure is this or higher. They hold 119 positions in common, counted across the 257 positions we hold weights for in PCR and 504 in SPY.
Which pays a higher dividend, PCR or SPY?
PCR yields 10.74% while SPY yields 0.98%, so PCR currently pays the higher dividend yield.
Is SPY better than PCR?
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.