PGIIX vs. SPY
PGIIX (Polen Global Growth Fund) and SPY (State Street SPDR S&P 500 ETF) are both funds - PGIIX is a Global Equities fund managed by Polen, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, PGIIX returned 9.92%/yr vs 15.07%/yr for SPY. Their correlation of 0.86 means they have usually moved in the same direction. PGIIX charges 0.99%/yr vs 0.09%/yr for SPY.
Performance
PGIIX vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, PGIIX achieves a -6.88% return, which is significantly lower than SPY's 10.13% return. Over the past 10 years, PGIIX has underperformed SPY with an annualized return of 9.92%, while SPY has yielded a comparatively higher 15.07% annualized return.
PGIIX
- 1D
- 2.07%
- 1M
- -0.38%
- 6M
- -3.59%
- YTD
- -6.88%
- 1Y
- -6.38%
- 3Y*
- 5.05%
- 5Y*
- 0.37%
- 10Y*
- 9.92%
- ALL TIME*
- 9.61%
SPY
- 1D
- 0.72%
- 1M
- 0.30%
- 6M
- 8.53%
- YTD
- 10.13%
- 1Y
- 21.49%
- 3Y*
- 19.32%
- 5Y*
- 12.76%
- 10Y*
- 15.07%
- ALL TIME*
- 10.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $37.27B | $35.99B | $39.23B |
PGIIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGIIX Polen Global Growth Fund | -6.88% | 1.91% | 16.43% | 31.09% | -31.20% | 17.43% | 23.67% | 35.47% | 2.48% | 31.52% |
SPY State Street SPDR S&P 500 ETF | 10.13% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between PGIIX and SPY is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2014 | 0.86 |
The correlation between PGIIX and SPY has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.
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Return for Risk
PGIIX vs. SPY — Risk / Return Rank
PGIIX
SPY
PGIIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Polen Global Growth Fund (PGIIX) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PGIIX | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -2.76 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.27 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | 2.20 | -2.61 |
| Martin ratioReturn relative to average drawdown | -0.89 | 9.40 | -10.29 |
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Drawdowns
PGIIX vs. SPY - Drawdown Comparison
The maximum PGIIX drawdown since its inception was -37.09%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PGIIX and SPY.
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Drawdown Indicators
| PGIIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.09% | -55.19% | +18.10% |
Max Drawdown (1Y)Largest decline over 1 year | -22.38% | -8.88% | -13.50% |
Max Drawdown (3Y)Largest decline over 3 years | -22.38% | -18.76% | -3.62% |
Max Drawdown (5Y)Largest decline over 5 years | -37.09% | -24.50% | -12.59% |
Max Drawdown (10Y)Largest decline over 10 years | -37.09% | -33.72% | -3.37% |
Current DrawdownCurrent decline from peak | -11.91% | -1.40% | -10.51% |
Average DrawdownAverage peak-to-trough decline | -7.10% | -9.01% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.09% | 2.08% | +8.01% |
Volatility
PGIIX vs. SPY - Volatility Comparison
Polen Global Growth Fund (PGIIX) has a higher volatility of 4.21% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that PGIIX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGIIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.21% | 3.58% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 13.60% | 10.14% | +3.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.79% | 12.89% | +3.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.79% | 17.18% | +2.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.30% | 17.95% | +1.35% |
PGIIX vs. SPY - Expense Ratio Comparison
PGIIX has a 0.99% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
PGIIX vs. SPY - Dividend Comparison
PGIIX's dividend yield for the trailing twelve months is around 23.21%, more than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGIIX Polen Global Growth Fund | 23.21% | 21.62% | 7.45% | 0.00% | 1.15% | 2.48% | 0.00% | 0.04% | 1.93% | 0.00% | 0.05% | 0.09% |
SPY State Street SPDR S&P 500 ETF | 1.01% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
PGIIX and SPY have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGIIX has higher volatility (4.21%) compared to SPY (3.58%). In terms of maximum drawdown, PGIIX dropped -37.09% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.52 vs -0.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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