PFIG vs SPY
Invesco Fundamental Investment Grade Corporate Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. PFIG offers more diversification with 733 holdings.
Side-by-Side Comparison
| Metric | PFIG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.22% | 0.09% | |
| AUM | $116M | $789.1B | |
| Dividend Yield | 4.41% | 1.01% | |
| Holdings | 803 | 505 | |
| YTD Return | +0.21% | +13.68% | |
| 1Y Return | +2.72% | +21.53% | |
| 3Y Return (annualized) | +5.51% | +21.44% | |
| 5Y Return (annualized) | +1.21% | +13.18% | |
| Volatility (annualized) | 4.3% | 15.3% | |
| Max Drawdown | -15.6% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Sep 15, 2011 | Jan 22, 1993 |
PFIG vs SPY Performance
Invesco Fundamental Investment Grade Corporate Bond ETF (PFIG) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PFIG returned +2.72% while SPY returned +21.53%. Year to date, PFIG is up 0.21% versus a gain of 13.68% for SPY.
Over three years, PFIG compounded at +5.51% per year against +21.44% for SPY; over five years the annualized figures are +1.21% and +13.18% respectively. Across the full 15-year window we track, SPY has the edge at +8.85% annualized vs +1.09%. 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 4.3% for PFIG. 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 -15.6% for PFIG 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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PFIG charges 0.22% per year while SPY charges 0.09%. On a $10,000 position that is $22 vs $9 annually, a gap of $13 per year that compounds over a long holding period. On income, PFIG currently yields 4.41% against 1.01% for SPY.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, PFIG or SPY?
PFIG has an expense ratio of 0.22% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $13 per year of difference.
Which performed better, PFIG or SPY?
Over the past year PFIG returned +2.72% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (15 years), PFIG annualized +1.09% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, PFIG or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.3% for PFIG. Worst drawdown: PFIG -15.6% vs SPY -56.5%.
Should I hold both PFIG and SPY?
PFIG and SPY have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PFIG and SPY?
PFIG and SPY share 2 common holdings with a 0.2% weight overlap. Combined, they hold 1234 unique securities.
Which pays a higher dividend, PFIG or SPY?
PFIG yields 4.41% while SPY yields 1.01%, so PFIG currently pays the higher dividend yield.
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