PSCE vs SPY
Invesco S&P SmallCap Energy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. PSCE delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | PSCE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.09% | |
| AUM | $104M | $821.1B | |
| Dividend Yield | 2.26% | 1.01% | |
| Holdings | 33 | 505 | |
| YTD Return | +44.13% | +12.93% | |
| 1Y Return | +63.41% | +20.62% | |
| 3Y Return (annualized) | +6.32% | +22.00% | |
| 5Y Return (annualized) | +18.62% | +13.33% | |
| Volatility (annualized) | 40.9% | 15.3% | |
| Max Drawdown | -96.3% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 7, 2010 | Jan 22, 1993 |
PSCE vs SPY Performance
Invesco S&P SmallCap Energy ETF (PSCE) 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 PSCE returned +63.41% while SPY returned +20.62%. Year to date, PSCE is up 44.13% versus a gain of 12.93% for SPY.
Over three years, PSCE compounded at +6.32% per year against +22.00% for SPY; over five years the annualized figures are +18.62% and +13.33% respectively. Across the full 16-year window we track, SPY has the edge at +8.82% annualized vs -3.64%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PSCE has been the more volatile fund, with annualized monthly volatility of 40.9% 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 -96.3% for PSCE 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 0.58. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PSCE charges 0.29% per year while SPY charges 0.09%. On a $10,000 position that is $29 vs $9 annually, a gap of $20 per year that compounds over a long holding period. On income, PSCE currently yields 2.26% against 1.01% for SPY.
Holdings Overlap
PSCE and SPY share 0 holdings out of 535 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PSCE or SPY?
PSCE has an expense ratio of 0.29% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, PSCE or SPY?
Over the past year PSCE returned +63.41% vs +20.62% for SPY, so PSCE leads on 1-year performance. Over the longest common window we track (16 years), PSCE annualized -3.64% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, PSCE or SPY?
PSCE has been the more volatile fund at 40.9% annualized versus 15.3% for SPY. Worst drawdown: PSCE -96.3% vs SPY -56.5%.
Should I hold both PSCE and SPY?
PSCE and SPY have a monthly-return correlation of 0.58, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PSCE and SPY?
PSCE and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 535 unique securities.
Which pays a higher dividend, PSCE or SPY?
PSCE yields 2.26% while SPY yields 1.01%, so PSCE currently pays the higher dividend yield.
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