PIEQ vs SPY
Principal International Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. PIEQ delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PIEQ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.48% | 0.09% | |
| AUM | $1.3B | $789.1B | |
| Dividend Yield | 1.19% | 1.01% | |
| Holdings | 50 | 505 | |
| YTD Return | +10.36% | +13.68% | |
| 1Y Return | +23.27% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 9.9% | 15.3% | |
| Max Drawdown | -15.2% | -56.5% | |
| Fund Family | Principal Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 6, 2024 | Jan 22, 1993 |
PIEQ vs SPY Performance
Principal International Equity ETF (PIEQ) is a ETF from Principal Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PIEQ returned +23.27% while SPY returned +21.53%. Year to date, PIEQ is up 10.36% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 9.9% for PIEQ. 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 -15.2% for PIEQ 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 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PIEQ charges 0.48% per year while SPY charges 0.09%. On a $10,000 position that is $48 vs $9 annually, a gap of $39 per year that compounds over a long holding period. On income, PIEQ currently yields 1.19% against 1.01% for SPY.
Holdings Overlap
PIEQ and SPY share 0 holdings out of 542 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PIEQ or SPY?
PIEQ has an expense ratio of 0.48% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $39 per year of difference.
Which performed better, PIEQ or SPY?
Over the past year PIEQ returned +23.27% vs +21.53% for SPY, so PIEQ leads on 1-year performance. Over the longest common window we track (2 years), PIEQ annualized +25.13% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, PIEQ or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 9.9% for PIEQ. Worst drawdown: PIEQ -15.2% vs SPY -56.5%.
Should I hold both PIEQ and SPY?
PIEQ and SPY have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIEQ and SPY?
PIEQ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 542 unique securities.
Which pays a higher dividend, PIEQ or SPY?
PIEQ yields 1.19% while SPY yields 1.01%, so PIEQ currently pays the higher dividend yield.
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