PFFV vs SPY
Global X Variable Rate Preferred ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PFFV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $304M | $789.1B | |
| Dividend Yield | 8.19% | 1.01% | |
| Holdings | 56 | 505 | |
| YTD Return | +2.15% | +13.75% | |
| 1Y Return | +2.66% | +22.91% | |
| 3Y Return (annualized) | +6.58% | +21.67% | |
| 5Y Return (annualized) | +2.03% | +13.32% | |
| Volatility (annualized) | 8.1% | 15.3% | |
| Max Drawdown | -19.0% | -56.5% | |
| Fund Family | Global X by mirae Asset | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Jun 22, 2020 | Jan 22, 1993 |
PFFV vs SPY Performance
Global X Variable Rate Preferred ETF (PFFV) is a ETF from Global X by mirae Asset and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PFFV returned +2.66% while SPY returned +22.91%. Year to date, PFFV is up 2.15% versus a gain of 13.75% for SPY.
Over three years, PFFV compounded at +6.58% per year against +21.67% for SPY; over five years the annualized figures are +2.03% and +13.32% respectively. Across the full 6-year window we track, SPY has the edge at +8.85% annualized vs +4.12%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 8.1% for PFFV. 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 -19.0% for PFFV and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PFFV charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, PFFV currently yields 8.19% against 1.01% for SPY.
Holdings Overlap
PFFV and SPY share 5 holdings out of 523 unique holdings combined, representing a 0.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PFFV or SPY?
PFFV has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, PFFV or SPY?
Over the past year PFFV returned +2.66% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), PFFV annualized +4.12% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, PFFV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.1% for PFFV. Worst drawdown: PFFV -19.0% vs SPY -56.5%.
Should I hold both PFFV and SPY?
PFFV and SPY have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PFFV and SPY?
PFFV and SPY share 5 common holdings with a 0.5% weight overlap. Combined, they hold 523 unique securities.
Which pays a higher dividend, PFFV or SPY?
PFFV yields 8.19% while SPY yields 1.01%, so PFFV currently pays the higher dividend yield.
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