PDT vs SPY
John Hancock Premium Dividend Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, PDT or SPY?
Equity-oriented Balanced against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y 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 | PDT | SPY |
|---|---|---|
| Expense Ratio | 2.41% | 0.09%Best |
| AUM | $690M | $804.7B |
| Dividend Yield | 7.12% | 0.98% |
| Holdings | 144 | 505 |
| YTD Return | +0.73% | +10.96%Best |
| 1Y Return | -2.17% | +15.52%Best |
| 3Y Return (annualized) | +15.46% | +20.73%Best |
| 5Y Return (annualized) | +1.63% | +12.53%Best |
| Volatility (annualized) | 16.7% | 15.3%Best |
| Max Drawdown | -62.6% | -56.5%Best |
| $10,000 over 5 years | $10,842 | $18,044Best |
| Fund Family | John Hancock Investment Management | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Equity-oriented Balanced | Large Cap Blend |
| Inception | Dec 21, 1989 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 2, 1996 to Sep 16, 2026 (30.7 years).
PDT 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.
PDT vs SPY Performance
John Hancock Premium Dividend Fund (PDT) is an ETF from John Hancock Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PDT returned -2.17% while SPY returned +15.52%. Year to date, PDT is up 0.73% versus a gain of 10.96% for SPY.
Over three years, PDT compounded at +15.46% per year against +20.73% for SPY; over five years the annualized figures are +1.63% and +12.53% respectively. Across the full 31-year window we track, SPY has the edge at +8.73% annualized vs +1.78%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PDT has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 15.3% 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 -62.6% for PDT and -56.5% 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 0.47. They move together some of the time, and apart the rest.
Fees and Cost Over Time
PDT charges 2.41% per year while SPY charges 0.09%. On a $10,000 position that is $241 vs $9 annually, a gap of $232 per year that compounds over a long holding period. On income, PDT currently yields 7.12% against 0.98% for SPY.
Holdings Overlap
At least 3.1% of SPY's money is in holdings PDT also owns.
Stated as a floor: for PDT, our book for it covers 82.4% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and PDT share little of their money.
The two holdings books were reported 63 days apart, PDT as of Jun 30, 2026 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
27 positions in common, counted across the 121 positions we hold weights for in PDT and 504 in SPY, against full books of 144 and 505.
Top Shared Holdings
| Stock | Weight in PDT | Weight in SPY | Difference |
|---|---|---|---|
| VZVerizon Communic | 1.77% | 0.32% | 1.45% |
| DUKDuke Energy Corp | 1.78% | 0.14% | 1.64% |
| AEPAmerican Electric Power Co Inc | 1.78% | 0.10% | 1.68% |
| DDominion Energy Inc. | 1.71% | 0.09% | 1.62% |
| FEFirstenergy Corp. | 1.70% | 0.04% | 1.66% |
| ETREntergy Corp. | 1.66% | 0.07% | 1.59% |
| EVRGEvergy Inc. | 1.67% | 0.03% | 1.64% |
| KMIKinder Morgan Inc./de | 1.58% | 0.10% | 1.48% |
| PPLPpl Corp (Utilities) | 1.54% | 0.04% | 1.50% |
| PEGPublic Svc Ent Group | 1.51% | 0.06% | 1.45% |
You are not choosing between two funds in isolation.
Whichever of PDT 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, PDT or SPY?
PDT has an expense ratio of 2.41% while SPY charges 0.09%. SPY is the cheaper option, by $232 a year on a $10,000 investment.
Which performed better, PDT or SPY?
Over the past year PDT returned -2.17% vs +15.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (31 years), PDT annualized +1.78% vs +8.73% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PDT or SPY?
PDT has been the more volatile fund at 16.7% annualized versus 15.3% for SPY. Worst drawdown: PDT -62.6% vs SPY -56.5%.
Should I hold both PDT and SPY?
PDT and SPY have a monthly-return correlation of 0.47, 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 PDT and SPY?
At least 3.1% of SPY's money is in holdings PDT also owns. Our book for PDT is partial, so the real figure is this or higher. They hold 27 positions in common, counted across the 121 positions we hold weights for in PDT and 504 in SPY.
Which pays a higher dividend, PDT or SPY?
PDT yields 7.12% while SPY yields 0.98%, so PDT currently pays the higher dividend yield.
Is SPY better than PDT?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.