PJFV vs SPY
PGIM Jennison Focused Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. PJFV delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PJFV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.33% | 0.09% | |
| AUM | $125M | $789.1B | |
| Dividend Yield | 0.57% | 1.01% | |
| Holdings | 38 | 505 | |
| YTD Return | +22.07% | +14.47% | |
| 1Y Return | +34.20% | +21.96% | |
| 3Y Return (annualized) | +24.93% | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 11.9% | 15.3% | |
| Max Drawdown | -18.1% | -56.5% | |
| Fund Family | PGIM Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 12, 2022 | Jan 22, 1993 |
PJFV vs SPY Performance
PGIM Jennison Focused Value ETF (PJFV) is a ETF from PGIM Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PJFV returned +34.20% while SPY returned +21.96%. Year to date, PJFV is up 22.07% versus a gain of 14.47% for SPY.
Over three years, PJFV compounded at +24.93% per year against +21.70% for SPY. Across the full 4-year window we track, PJFV has the edge at +22.54% annualized vs +8.87%. 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 11.9% for PJFV. 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 -18.1% for PJFV 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PJFV charges 0.33% per year while SPY charges 0.09%. On a $10,000 position that is $33 vs $9 annually, a gap of $24 per year that compounds over a long holding period. On income, PJFV currently yields 0.57% against 1.01% for SPY.
Holdings Overlap
PJFV and SPY share 27 holdings out of 511 unique holdings combined, representing a 20.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PJFV or SPY?
PJFV has an expense ratio of 0.33% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $24 per year of difference.
Which performed better, PJFV or SPY?
Over the past year PJFV returned +34.20% vs +21.96% for SPY, so PJFV leads on 1-year performance. Over the longest common window we track (4 years), PJFV annualized +22.54% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, PJFV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 11.9% for PJFV. Worst drawdown: PJFV -18.1% vs SPY -56.5%.
Should I hold both PJFV and SPY?
PJFV and SPY have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PJFV and SPY?
PJFV and SPY share 27 common holdings with a 20.5% weight overlap. Combined, they hold 511 unique securities.
Which pays a higher dividend, PJFV or SPY?
PJFV yields 0.57% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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