PUI vs SPY
Invesco Dorsey Wright Utilities Momentum 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 503 holdings.
Side-by-Side Comparison
| Metric | PUI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.60% | 0.09% | |
| AUM | $56M | $789.1B | |
| Dividend Yield | 1.97% | 1.01% | |
| Holdings | 39 | 505 | |
| YTD Return | +2.83% | +13.75% | |
| 1Y Return | +4.31% | +22.91% | |
| 3Y Return (annualized) | +14.15% | +21.67% | |
| 5Y Return (annualized) | +7.76% | +13.32% | |
| Volatility (annualized) | 14.0% | 15.3% | |
| Max Drawdown | -45.8% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 26, 2005 | Jan 22, 1993 |
PUI vs SPY Performance
Invesco Dorsey Wright Utilities Momentum ETF (PUI) 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 PUI returned +4.31% while SPY returned +22.91%. Year to date, PUI is up 2.83% versus a gain of 13.75% for SPY.
Over three years, PUI compounded at +14.15% per year against +21.67% for SPY; over five years the annualized figures are +7.76% and +13.32% respectively. Across the full 21-year window we track, SPY has the edge at +8.85% annualized vs +5.91%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.0% for PUI. 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 -45.8% for PUI 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
PUI 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, PUI currently yields 1.97% against 1.01% for SPY.
Holdings Overlap
PUI and SPY share 26 holdings out of 514 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, PUI or SPY?
PUI 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, PUI or SPY?
Over the past year PUI returned +4.31% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (21 years), PUI annualized +5.91% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, PUI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.0% for PUI. Worst drawdown: PUI -45.8% vs SPY -56.5%.
Should I hold both PUI and SPY?
PUI 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 PUI and SPY?
PUI and SPY share 26 common holdings with a 2.3% weight overlap. Combined, they hold 514 unique securities.
Which pays a higher dividend, PUI or SPY?
PUI yields 1.97% while SPY yields 1.01%, so PUI currently pays the higher dividend yield.
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