PQJL vs SPY
PGIM Nasdaq-100 Buffer 12 ETF - July 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 505 holdings.
Side-by-Side Comparison
| Metric | PQJL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $23M | $821.1B | |
| Dividend Yield | 0.01% | 1.01% | |
| Holdings | 7 | 505 | |
| YTD Return | +6.48% | +12.68% | |
| 1Y Return | +12.94% | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 9.5% | 15.3% | |
| Max Drawdown | -12.3% | -56.5% | |
| Fund Family | PGIM Investments | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Dec 27, 2024 | Jan 22, 1993 |
PQJL vs SPY Performance
PGIM Nasdaq-100 Buffer 12 ETF - July (PQJL) 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 PQJL returned +12.94% while SPY returned +21.82%. Year to date, PQJL is up 6.48% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 9.5% for PQJL. 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 -12.3% for PQJL 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
PQJL charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, PQJL currently yields 0.01% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, PQJL or SPY?
PQJL has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, PQJL or SPY?
Over the past year PQJL returned +12.94% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), PQJL annualized +13.81% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, PQJL or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 9.5% for PQJL. Worst drawdown: PQJL -12.3% vs SPY -56.5%.
Should I hold both PQJL and SPY?
PQJL and SPY have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
Which pays a higher dividend, PQJL or SPY?
PQJL yields 0.01% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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