PKB vs SPY
Invesco Building and Construction ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PKB or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. PKB led over 5Y, SPY over 1Y, 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 48.2%.
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 | PKB | SPY |
|---|---|---|
| Expense Ratio | 0.57% | 0.09%Best |
| AUM | $330M | $804.7B |
| Dividend Yield | 0.20% | 0.98% |
| Holdings | 32 | 505 |
| YTD Return | -3.39% | +12.99%Best |
| 1Y Return | -3.05% | +16.73%Best |
| 3Y Return (annualized) | +22.24% | +22.52%Best |
| 5Y Return (annualized) | +13.60%Best | +13.07% |
| Volatility (annualized) | 24.7% | 15.1%Best |
| Max Drawdown | -65.3% | -56.5%Best |
| $10,000 over 5 years | $18,919Best | $18,481 |
| Top 10 Weight | 48.2% | 37.8%Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Oct 26, 2005 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Oct 26, 2005 to Sep 23, 2026 (20.9 years).
PKB 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 20.9 years both funds cover.
PKB vs SPY Performance
Invesco Building and Construction ETF (PKB) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PKB returned -3.05% while SPY returned +16.73%. Year to date, PKB is down 3.39% versus a gain of 12.99% for SPY.
Over three years, PKB compounded at +22.24% per year against +22.52% for SPY; over five years the annualized figures are +13.60% and +13.07% respectively. Across the full 21-year window we track, SPY has the edge at +9.70% annualized vs +9.03%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PKB has been the more volatile fund, with annualized monthly volatility of 24.7% compared with 15.1% 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 -65.3% for PKB and -56.5% 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PKB charges 0.57% per year while SPY charges 0.09%. On a $10,000 position that is $57 vs $9 annually, a gap of $48 per year that compounds over a long holding period. On income, PKB currently yields 0.20% against 0.98% for SPY.
Holdings Overlap
35.7% of PKB's money is in holdings SPY also owns. 0.9% of SPY's money is in holdings PKB also owns.
The two portfolios partly overlap.
7 positions in common, counted across the 30 positions we hold weights for in PKB and 504 in SPY, against full books of 32 and 505.
What only one of them owns
Our book lists 491 positions for SPY that do not appear in our book for PKB (98.5% of the fund), and 19 for PKB that do not appear in SPY (50.0%).
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 PKB | Weight in SPY | Difference |
|---|---|---|---|
| HDHome Depot Inc/The | 5.73% | 0.48% | 5.25% |
| VMCVulcan Materials Co. | 5.45% | 0.05% | 5.40% |
| JCIJohnson Controls International Plc | 5.35% | 0.13% | 5.22% |
| CRH:LNCrh Plc - Common | 5.04% | 0.09% | 4.95% |
| MLMMartin Marietta Materials Inc. | 5.02% | 0.05% | 4.97% |
| EMEEmcor Group Inc | 4.63% | 0.05% | 4.58% |
| FIXComfort Systems USA Inc. | 4.46% | 0.08% | 4.38% |
35.7% of PKB 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, PKB or SPY?
PKB has an expense ratio of 0.57% while SPY charges 0.09%. SPY is the cheaper option, by $48 a year on a $10,000 investment.
Which performed better, PKB or SPY?
Over the past year PKB returned -3.05% vs +16.73% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (21 years), PKB annualized +9.03% vs +9.70% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PKB or SPY?
PKB has been the more volatile fund at 24.7% annualized versus 15.1% for SPY. Worst drawdown: PKB -65.3% vs SPY -56.5%.
Should I hold both PKB and SPY?
PKB and SPY have a monthly-return correlation of 0.82, 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 PKB and SPY?
35.7% of PKB's money is in holdings SPY also owns. 0.9% of SPY's is in holdings PKB also owns. They hold 7 positions in common, counted across the 30 positions we hold weights for in PKB and 504 in SPY.
Which pays a higher dividend, PKB or SPY?
PKB yields 0.20% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than PKB?
SPY has a lower expense ratio. PKB led over 5Y, SPY over 1Y, 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 48.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.