PKB vs SPY
Invesco Building and Construction ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PKB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.57% | 0.09% | |
| AUM | $441M | $789.1B | |
| Dividend Yield | 0.17% | 1.01% | |
| Holdings | 33 | 505 | |
| YTD Return | +11.06% | +13.39% | |
| 1Y Return | +19.14% | +22.52% | |
| 3Y Return (annualized) | +23.53% | +21.36% | |
| 5Y Return (annualized) | +15.66% | +13.19% | |
| Volatility (annualized) | 24.7% | 15.3% | |
| Max Drawdown | -65.3% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 26, 2005 | Jan 22, 1993 |
PKB vs SPY Performance
Invesco Building and Construction ETF (PKB) 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 PKB returned +19.14% while SPY returned +22.52%. Year to date, PKB is up 11.06% versus a gain of 13.39% for SPY.
Over three years, PKB compounded at +23.53% per year against +21.36% for SPY; over five years the annualized figures are +15.66% and +13.19% respectively. Across the full 21-year window we track, PKB has the edge at +9.81% annualized vs +8.84%. 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 15.3% 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 worth weighing if you expect to sell during market stress rather than ride it out.
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 0.17% against 1.01% for SPY.
Holdings Overlap
PKB and SPY share 6 holdings out of 528 unique holdings combined, representing a 0.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $48 per year of difference.
Which performed better, PKB or SPY?
Over the past year PKB returned +19.14% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (21 years), PKB annualized +9.81% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, PKB or SPY?
PKB has been the more volatile fund at 24.7% annualized versus 15.3% 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 combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PKB and SPY?
PKB and SPY share 6 common holdings with a 0.9% weight overlap. Combined, they hold 528 unique securities.
Which pays a higher dividend, PKB or SPY?
PKB yields 0.17% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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