PXE vs SPY
Invesco Energy Exploration & Production ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. PXE delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PXE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.61% | 0.09% | |
| AUM | $81M | $789.1B | |
| Dividend Yield | 1.96% | 1.01% | |
| Holdings | 33 | 505 | |
| YTD Return | +36.54% | +13.75% | |
| 1Y Return | +43.49% | +22.91% | |
| 3Y Return (annualized) | +8.15% | +21.67% | |
| 5Y Return (annualized) | +22.22% | +13.32% | |
| Volatility (annualized) | 35.8% | 15.3% | |
| Max Drawdown | -86.3% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 26, 2005 | Jan 22, 1993 |
PXE vs SPY Performance
Invesco Energy Exploration & Production ETF (PXE) 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 PXE returned +43.49% while SPY returned +22.91%. Year to date, PXE is up 36.54% versus a gain of 13.75% for SPY.
Over three years, PXE compounded at +8.15% per year against +21.67% for SPY; over five years the annualized figures are +22.22% and +13.32% respectively. Across the full 21-year window we track, SPY has the edge at +8.85% annualized vs +4.98%. 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 15.3% 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 -86.3% for PXE 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 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PXE charges 0.61% per year while SPY charges 0.09%. On a $10,000 position that is $61 vs $9 annually, a gap of $52 per year that compounds over a long holding period. On income, PXE currently yields 1.96% against 1.01% for SPY.
Holdings Overlap
PXE and SPY share 10 holdings out of 524 unique holdings combined, representing a 0.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PXE or SPY?
PXE has an expense ratio of 0.61% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $52 per year of difference.
Which performed better, PXE or SPY?
Over the past year PXE returned +43.49% vs +22.91% for SPY, so PXE leads on 1-year performance. Over the longest common window we track (21 years), PXE annualized +4.98% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, PXE or SPY?
PXE has been the more volatile fund at 35.8% annualized versus 15.3% 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 combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PXE and SPY?
PXE and SPY share 10 common holdings with a 0.8% weight overlap. Combined, they hold 524 unique securities.
Which pays a higher dividend, PXE or SPY?
PXE yields 1.96% while SPY yields 1.01%, so PXE currently pays the higher dividend yield.
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