PUSH vs SPY
PUSH vs SPY
PGIM Ultra Short Municipal Bond 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 | PUSH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.09% | |
| AUM | $107M | $789.1B | |
| Dividend Yield | 3.77% | 1.01% | |
| Holdings | 182 | 505 | |
| YTD Return | +1.76% | +13.79% | |
| 1Y Return | +3.18% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 0.8% | 15.3% | |
| Max Drawdown | -0.8% | -56.5% | |
| Fund Family | PGIM Investments | State Street Investment Management | |
| Category | Tax Preferred | Equity | |
| Inception | Jun 24, 2024 | Jan 22, 1993 |
PUSH vs SPY Performance
PGIM Ultra Short Municipal Bond ETF (PUSH) is a ETF from PGIM Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PUSH returned +3.18% while SPY returned +23.66%. Year to date, PUSH is up 1.76% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 0.8% for PUSH. 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 -0.8% for PUSH 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 0.41. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PUSH charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, PUSH currently yields 3.77% against 1.01% for SPY.
Holdings Overlap
PUSH and SPY share 0 holdings out of 550 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, PUSH or SPY?
PUSH has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, PUSH or SPY?
Over the past year PUSH returned +3.18% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), PUSH annualized +3.66% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, PUSH or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 0.8% for PUSH. Worst drawdown: PUSH -0.8% vs SPY -56.5%.
Should I hold both PUSH and SPY?
PUSH and SPY have a monthly-return correlation of 0.41, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PUSH and SPY?
PUSH and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 550 unique securities.
Which pays a higher dividend, PUSH or SPY?
PUSH yields 3.77% while SPY yields 1.01%, so PUSH currently pays the higher dividend yield.
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