PXE vs SPY
Invesco Energy Exploration & Production ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PXE or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. PXE led over 1Y and 5Y, SPY over 3Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 45.9%.
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 | PXE | SPY |
|---|---|---|
| Expense Ratio | 0.63% | 0.09%Best |
| AUM | $132M | $811.2B |
| Dividend Yield | 1.60% | 0.98% |
| Holdings | 68 | 1,515 |
| YTD Return | +58.16%Best | +14.77% |
| 1Y Return | +59.75%Best | +18.61% |
| 3Y Return (annualized) | +12.74% | +22.83%Best |
| 5Y Return (annualized) | +19.84%Best | +13.84% |
| Volatility (annualized) | 35.8% | 15.0%Best |
| Max Drawdown | -86.3% | -56.5%Best |
| $10,000 over 5 years | $24,718Best | $19,119 |
| Top 10 Weight | 45.9% | 38.2%Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Oct 26, 2005 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Oct 26, 2005 to Oct 13, 2026 (21 years).
PXE 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 21 years both funds cover.
PXE vs SPY Performance
Invesco Energy Exploration & Production ETF (PXE) 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 PXE returned +59.75% while SPY returned +18.61%. Year to date, PXE is up 58.16% versus a gain of 14.77% for SPY.
Over three years, PXE compounded at +12.74% per year against +22.83% for SPY; over five years the annualized figures are +19.84% and +13.84% respectively. Across the full 21-year window we track, SPY has the edge at +9.75% annualized vs +5.67%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PXE has been the more volatile fund, with annualized monthly volatility of 35.8% compared with 15.0% 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 -86.3% for PXE 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 0.57. They move together some of the time, and apart the rest.
Fees and Cost Over Time
PXE charges 0.63% per year while SPY charges 0.09%. On a $10,000 position that is $63 vs $9 annually, a gap of $54 per year that compounds over a long holding period. On income, PXE currently yields 1.60% against 0.98% for SPY.
Holdings Overlap
44.9% of PXE's money is in holdings SPY also owns. 1.1% of SPY's money is in holdings PXE also owns.
The two portfolios partly overlap.
10 positions in common, counted across the 31 positions we hold weights for in PXE and 504 in SPY, against full books of 68 and 1,515.
What only one of them owns
Our book lists 487 positions for SPY that do not appear in our book for PXE (98.1% of the fund), and 21 for PXE that do not appear in SPY (55.1%).
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 PXE | Weight in SPY | Difference |
|---|---|---|---|
| VLOValero Energy | 5.35% | 0.17% | 5.18% |
| MPCMarathon Petroleum Corp | 5.20% | 0.18% | 5.02% |
| PSXPhillips 66 | 5.10% | 0.16% | 4.94% |
| COPConocophillips Common Stock USD 0.01 | 4.86% | 0.25% | 4.61% |
| OXYOccidental Petroleum Corp. | 4.93% | 0.07% | 4.86% |
| FANGDiamondback Energy, Inc. | 4.78% | 0.06% | 4.72% |
| EOGEog Resources Inc | 4.68% | 0.12% | 4.56% |
| EQTEQT Corp. | 4.67% | 0.05% | 4.62% |
| APAAPA Corp. | 2.75% | 0.02% | 2.73% |
| EXEExpand Energy Corp | 2.55% | 0.03% | 2.52% |
44.9% of PXE 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, PXE or SPY?
PXE has an expense ratio of 0.63% while SPY charges 0.09%. SPY is the cheaper option, by $54 a year on a $10,000 investment.
Which performed better, PXE or SPY?
Over the past year PXE returned +59.75% vs +18.61% for SPY, so PXE leads on 1-year performance. Over the longest common window we track (21 years), PXE annualized +5.67% vs +9.75% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PXE or SPY?
PXE has been the more volatile fund at 35.8% annualized versus 15.0% for SPY. Worst drawdown: PXE -86.3% vs SPY -56.5%.
Should I hold both PXE and SPY?
PXE and SPY have a monthly-return correlation of 0.57, 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 PXE and SPY?
44.9% of PXE's money is in holdings SPY also owns. 1.1% of SPY's is in holdings PXE also owns. They hold 10 positions in common, counted across the 31 positions we hold weights for in PXE and 504 in SPY.
Which pays a higher dividend, PXE or SPY?
PXE yields 1.60% while SPY yields 0.98%, so PXE currently pays the higher dividend yield.
Is SPY better than PXE?
SPY has a lower expense ratio. PXE led over 1Y and 5Y, SPY over 3Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 45.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.