PTH vs SPY
Invesco Dorsey Wright Healthcare Momentum ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. PTH delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PTH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.60% | 0.09% | |
| AUM | $231M | $789.1B | |
| Dividend Yield | 2.56% | 1.01% | |
| Holdings | 59 | 505 | |
| YTD Return | +23.87% | +13.75% | |
| 1Y Return | +64.85% | +22.91% | |
| 3Y Return (annualized) | +20.13% | +21.67% | |
| 5Y Return (annualized) | +2.30% | +13.32% | |
| Volatility (annualized) | 21.8% | 15.3% | |
| Max Drawdown | -53.5% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 12, 2006 | Jan 22, 1993 |
PTH vs SPY Performance
Invesco Dorsey Wright Healthcare Momentum ETF (PTH) 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 PTH returned +64.85% while SPY returned +22.91%. Year to date, PTH is up 23.87% versus a gain of 13.75% for SPY.
Over three years, PTH compounded at +20.13% per year against +21.67% for SPY; over five years the annualized figures are +2.30% and +13.32% respectively. Across the full 20-year window we track, PTH has the edge at +10.86% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PTH has been the more volatile fund, with annualized monthly volatility of 21.8% 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 -53.5% for PTH 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 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PTH 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, PTH currently yields 2.56% against 1.01% for SPY.
Holdings Overlap
PTH and SPY share 6 holdings out of 555 unique holdings combined, representing a 0.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PTH or SPY?
PTH 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, PTH or SPY?
Over the past year PTH returned +64.85% vs +22.91% for SPY, so PTH leads on 1-year performance. Over the longest common window we track (20 years), PTH annualized +10.86% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, PTH or SPY?
PTH has been the more volatile fund at 21.8% annualized versus 15.3% for SPY. Worst drawdown: PTH -53.5% vs SPY -56.5%.
Should I hold both PTH and SPY?
PTH and SPY have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PTH and SPY?
PTH and SPY share 6 common holdings with a 0.5% weight overlap. Combined, they hold 555 unique securities.
Which pays a higher dividend, PTH or SPY?
PTH yields 2.56% while SPY yields 1.01%, so PTH currently pays the higher dividend yield.
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