PTF vs SPY
Invesco Dorsey Wright Technology Momentum ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PTF or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. PTF led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 40.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PTF | SPY |
|---|---|---|
| Expense Ratio | 0.60% | 0.09%Best |
| AUM | $540M | $804.7B |
| Dividend Yield | 0.01% | 0.98% |
| Holdings | 41 | 505 |
| YTD Return | +30.66%Best | +12.09% |
| 1Y Return | +36.92%Best | +16.29% |
| 3Y Return (annualized) | +31.82%Best | +21.20% |
| 5Y Return (annualized) | +14.91%Best | +13.37% |
| Volatility (annualized) | 25.2% | 15.4%Best |
| Max Drawdown | -55.4%Best | -56.5% |
| $10,000 over 5 years | $20,035Best | $18,728 |
| Top 10 Weight | 40.8% | 37.8%Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Oct 12, 2006 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Oct 12, 2006 to Sep 18, 2026 (19.9 years).
PTF vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 19.9 years both funds cover.
PTF vs SPY Performance
Invesco Dorsey Wright Technology Momentum ETF (PTF) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PTF returned +36.92% while SPY returned +16.29%. Year to date, PTF is up 30.66% versus a gain of 12.09% for SPY.
Over three years, PTF compounded at +31.82% per year against +21.20% for SPY; over five years the annualized figures are +14.91% and +13.37% respectively. Across the full 20-year window we track, PTF has the edge at +13.48% annualized vs +9.42%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PTF has been the more volatile fund, with annualized monthly volatility of 25.2% compared with 15.4% 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 -55.4% for PTF and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PTF 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, PTF currently yields 0.01% against 0.98% for SPY.
Holdings Overlap
42.5% of PTF's money is in holdings SPY also owns. 5.6% of SPY's money is in holdings PTF also owns.
The two portfolios partly overlap.
12 positions in common, counted across the 38 positions we hold weights for in PTF and 504 in SPY, against full books of 41 and 505.
What only one of them owns
Our book lists 485 positions for SPY that do not appear in our book for PTF (93.7% of the fund), and 25 for PTF that do not appear in SPY (55.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PTF | Weight in SPY | Difference |
|---|---|---|---|
| MUMicron Technology, Inc. | 5.66% | 1.60% | 4.06% |
| SNDKSandisk Corporation | 5.43% | 0.35% | 5.08% |
| STXSeagate Technology Holdings Plc | 4.22% | 0.28% | 3.94% |
| WDCWestern Digital Corp Company Guar 11/28 3 | 4.07% | 0.24% | 3.83% |
| AMDAdvanced Micro Devices Inc | 3.10% | 1.14% | 1.96% |
| KLACKla Corp | 3.69% | 0.34% | 3.35% |
| DELLDell Technologies Inc | 3.54% | 0.19% | 3.35% |
| LRCXLrcx Uw Equity | 3.12% | 0.55% | 2.57% |
| TERTeradyne Inc - Common | 2.93% | 0.08% | 2.85% |
| AMATApplied Materials, Inc. | 2.48% | 0.53% | 1.95% |
42.5% of PTF is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PTF or SPY?
PTF has an expense ratio of 0.60% while SPY charges 0.09%. SPY is the cheaper option, by $51 a year on a $10,000 investment.
Which performed better, PTF or SPY?
Over the past year PTF returned +36.92% vs +16.29% for SPY, so PTF leads on 1-year performance. Over the longest common window we track (20 years), PTF annualized +13.48% vs +9.42% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PTF or SPY?
PTF has been the more volatile fund at 25.2% annualized versus 15.4% for SPY. Worst drawdown: PTF -55.4% vs SPY -56.5%.
Should I hold both PTF and SPY?
PTF and SPY have a monthly-return correlation of 0.79, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PTF and SPY?
42.5% of PTF's money is in holdings SPY also owns. 5.6% of SPY's is in holdings PTF also owns. They hold 12 positions in common, counted across the 38 positions we hold weights for in PTF and 504 in SPY.
Which pays a higher dividend, PTF or SPY?
PTF yields 0.01% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than PTF?
SPY has a lower expense ratio. PTF led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 40.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.