PRN vs SPY
Invesco Dorsey Wright Industrials Momentum ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. PRN delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PRN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.60% | 0.09% | |
| AUM | $428M | $789.1B | |
| Dividend Yield | 0.08% | 1.01% | |
| Holdings | 41 | 505 | |
| YTD Return | +21.82% | +13.39% | |
| 1Y Return | +34.32% | +22.52% | |
| 3Y Return (annualized) | +27.15% | +21.36% | |
| 5Y Return (annualized) | +16.91% | +13.19% | |
| Volatility (annualized) | 21.4% | 15.3% | |
| Max Drawdown | -59.9% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 12, 2006 | Jan 22, 1993 |
PRN vs SPY Performance
Invesco Dorsey Wright Industrials Momentum ETF (PRN) 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 PRN returned +34.32% while SPY returned +22.52%. Year to date, PRN is up 21.82% versus a gain of 13.39% for SPY.
Over three years, PRN compounded at +27.15% per year against +21.36% for SPY; over five years the annualized figures are +16.91% and +13.19% respectively. Across the full 20-year window we track, PRN has the edge at +12.11% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PRN has been the more volatile fund, with annualized monthly volatility of 21.4% 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 -59.9% for PRN 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PRN charges 0.60% per year while SPY charges 0.09%. On a $10,000 position that is $60 vs $9 annually, a gap of $51 per year that compounds over a long holding period. On income, PRN currently yields 0.08% against 1.01% for SPY.
Holdings Overlap
PRN and SPY share 9 holdings out of 532 unique holdings combined, representing a 2.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PRN or SPY?
PRN has an expense ratio of 0.60% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $51 per year of difference.
Which performed better, PRN or SPY?
Over the past year PRN returned +34.32% vs +22.52% for SPY, so PRN leads on 1-year performance. Over the longest common window we track (20 years), PRN annualized +12.11% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, PRN or SPY?
PRN has been the more volatile fund at 21.4% annualized versus 15.3% for SPY. Worst drawdown: PRN -59.9% vs SPY -56.5%.
Should I hold both PRN and SPY?
PRN and SPY have a monthly-return correlation of 0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PRN and SPY?
PRN and SPY share 9 common holdings with a 2.3% weight overlap. Combined, they hold 532 unique securities.
Which pays a higher dividend, PRN or SPY?
PRN yields 0.08% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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