PGJ vs. SPY
Compare and contrast key facts about Invesco Golden Dragon China ETF (PGJ) and SPDR S&P 500 ETF (SPY).
PGJ and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGJ is a passively managed fund by Invesco that tracks the performance of the Halter USX China Index. It was launched on Dec 9, 2004. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both PGJ and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PGJ or SPY.
Key characteristics
| PGJ | SPY | |
|---|---|---|
| YTD Return | 3.71% | 26.77% |
| 1Y Return | 6.90% | 37.43% |
| 3Y Return (Ann) | -16.13% | 10.15% |
| 5Y Return (Ann) | -6.35% | 15.86% |
| 10Y Return (Ann) | -0.71% | 13.33% |
| Sharpe Ratio | 0.22 | 3.06 |
| Sortino Ratio | 0.59 | 4.08 |
| Omega Ratio | 1.07 | 1.58 |
| Calmar Ratio | 0.10 | 4.44 |
| Martin Ratio | 0.61 | 20.11 |
| Ulcer Index | 12.20% | 1.85% |
| Daily Std Dev | 34.48% | 12.18% |
| Max Drawdown | -78.37% | -55.19% |
| Current Drawdown | -67.15% | -0.31% |
Correlation
The correlation between PGJ and SPY is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PGJ vs. SPY - Performance Comparison
In the year-to-date period, PGJ achieves a 3.71% return, which is significantly lower than SPY's 26.77% return. Over the past 10 years, PGJ has underperformed SPY with an annualized return of -0.71%, while SPY has yielded a comparatively higher 13.33% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PGJ vs. SPY - Expense Ratio Comparison
PGJ has a 0.70% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
PGJ vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Golden Dragon China ETF (PGJ) and 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.
Dividends
PGJ vs. SPY - Dividend Comparison
PGJ's dividend yield for the trailing twelve months is around 6.08%, more than SPY's 1.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGJ Invesco Golden Dragon China ETF | 6.08% | 2.50% | 0.84% | 0.00% | 0.31% | 0.17% | 0.31% | 2.05% | 1.94% | 0.37% | 0.89% | 0.96% |
SPY SPDR S&P 500 ETF | 1.17% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
PGJ vs. SPY - Drawdown Comparison
The maximum PGJ drawdown since its inception was -78.37%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PGJ and SPY. For additional features, visit the drawdowns tool.
Volatility
PGJ vs. SPY - Volatility Comparison
Invesco Golden Dragon China ETF (PGJ) has a higher volatility of 12.41% compared to SPDR S&P 500 ETF (SPY) at 3.88%. This indicates that PGJ'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.