PRCS vs SPY
Parnassus Core Select 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 505 holdings.
Side-by-Side Comparison
| Metric | PRCS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.58% | 0.09% | |
| AUM | $171M | $789.1B | |
| Dividend Yield | 0.12% | 1.01% | |
| Holdings | 25 | 505 | |
| YTD Return | +10.47% | +14.47% | |
| 1Y Return | +13.54% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 12.8% | 15.3% | |
| Max Drawdown | -18.2% | -56.5% | |
| Fund Family | Parnassus Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 12, 2024 | Jan 22, 1993 |
PRCS vs SPY Performance
Parnassus Core Select ETF (PRCS) is a ETF from Parnassus Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PRCS returned +13.54% while SPY returned +21.96%. Year to date, PRCS is up 10.47% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.8% for PRCS. 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 -18.2% for PRCS 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
PRCS charges 0.58% per year while SPY charges 0.09%. On a $10,000 position that is $58 vs $9 annually, a gap of $49 per year that compounds over a long holding period. On income, PRCS currently yields 0.12% against 1.01% for SPY.
Holdings Overlap
PRCS and SPY share 24 holdings out of 504 unique holdings combined, representing a 28.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PRCS or SPY?
PRCS has an expense ratio of 0.58% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $49 per year of difference.
Which performed better, PRCS or SPY?
Over the past year PRCS returned +13.54% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), PRCS annualized +10.82% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, PRCS or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.8% for PRCS. Worst drawdown: PRCS -18.2% vs SPY -56.5%.
Should I hold both PRCS and SPY?
PRCS 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 PRCS and SPY?
PRCS and SPY share 24 common holdings with a 28.1% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, PRCS or SPY?
PRCS yields 0.12% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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