PJFM vs SPY
PGIM Jennison Focused Mid-Cap ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PJFM or SPY?
Mid Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. PJFM is less concentrated, with 32.7% of the fund in its ten largest positions against 38.0%.
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 | PJFM | SPY |
|---|---|---|
| Expense Ratio | 0.49% | 0.09%Best |
| AUM | $20M | $804.7B |
| Dividend Yield | 0.58% | 0.98% |
| Holdings | 51 | 505 |
| YTD Return | +5.06% | +11.52%Best |
| 1Y Return | +9.12% | +17.48%Best |
| 3Y Return (annualized) | - | +20.62% |
| 5Y Return (annualized) | - | +12.73% |
| Volatility (annualized) | 15.3% | 11.9%Best |
| Max Drawdown | -22.8% | -18.8%Best |
| $10,000 over 2.7 years | $12,963 | $16,360Best |
| Top 10 Weight | 32.7%Best | 38.0% |
| Fund Family | PGIM Investments | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Dec 14, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.7 years row, are measured over the window both funds cover: Dec 19, 2023 to Sep 10, 2026 (2.7 years).
PJFM 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 2.7 years both funds cover.
PJFM vs SPY Performance
PGIM Jennison Focused Mid-Cap ETF (PJFM) is an ETF from PGIM Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PJFM returned +9.12% while SPY returned +17.48%. Year to date, PJFM is up 5.06% versus a gain of 11.52% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PJFM has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 11.9% 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 -22.8% for PJFM and -18.8% 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PJFM charges 0.49% per year while SPY charges 0.09%. On a $10,000 position that is $49 vs $9 annually, a gap of $40 per year that compounds over a long holding period. On income, PJFM currently yields 0.58% against 0.98% for SPY.
Holdings Overlap
23.9% of PJFM's money is in holdings SPY also owns. 0.5% of SPY's money is in holdings PJFM also owns.
PJFM and SPY share little of their money.
10 positions in common, counted across the 50 positions we hold weights for in PJFM and 504 in SPY, against full books of 51 and 505.
What only one of them owns
Our book lists 484 positions for SPY that do not appear in our book for PJFM (99.0% of the fund), and 34 for PJFM that do not appear in SPY (61.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PJFM | Weight in SPY | Difference |
|---|---|---|---|
| NINisource Inc. | 4.43% | 0.03% | 4.40% |
| CBRECbre Group Inc. Class A | 3.37% | 0.07% | 3.30% |
| MCHPMicrochip Technology Inc. | 2.90% | 0.07% | 2.83% |
| KEYSKeysight Technologies Inc. | 2.58% | 0.09% | 2.49% |
| CMSCms Energy Corp. | 2.56% | 0.03% | 2.53% |
| LITELumentum Holdings Inc | 2.42% | 0.10% | 2.32% |
| GNRCGenerac Holdings, Inc. | 1.70% | 0.02% | 1.68% |
| NDSNNordson Corp | 1.58% | 0.02% | 1.56% |
| RLRalph Lauren Corp. Class A | 1.36% | 0.02% | 1.34% |
| AMEAmetek Inc. | 0.97% | 0.09% | 0.88% |
23.9% of PJFM is already inside SPY.
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, PJFM or SPY?
PJFM has an expense ratio of 0.49% while SPY charges 0.09%. SPY is the cheaper option, by $40 a year on a $10,000 investment.
Which performed better, PJFM or SPY?
Over the past year PJFM returned +9.12% vs +17.48% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PJFM or SPY?
PJFM has been the more volatile fund at 15.3% annualized versus 11.9% for SPY. Worst drawdown: PJFM -22.8% vs SPY -18.8%.
Should I hold both PJFM and SPY?
PJFM and SPY have a monthly-return correlation of 0.77, 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 PJFM and SPY?
23.9% of PJFM's money is in holdings SPY also owns. 0.5% of SPY's is in holdings PJFM also owns. They hold 10 positions in common, counted across the 50 positions we hold weights for in PJFM and 504 in SPY.
Which pays a higher dividend, PJFM or SPY?
PJFM yields 0.58% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than PJFM?
SPY has a lower expense ratio. SPY led over 1Y and the full window. PJFM is less concentrated, with 32.7% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.