PGX vs. SPY
Compare and contrast key facts about Invesco Preferred ETF (PGX) and SPDR S&P 500 ETF (SPY).
PGX and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGX is a passively managed fund by Invesco that tracks the performance of the BofA Merrill Lynch Core Fixed Rate Preferred Securities Index. It was launched on Jan 31, 2008. 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 PGX 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: PGX or SPY.
Key characteristics
| PGX | SPY | |
|---|---|---|
| YTD Return | 2.32% | 9.78% |
| 1Y Return | 10.66% | 27.82% |
| 3Y Return (Ann) | -3.17% | 9.18% |
| 5Y Return (Ann) | 0.83% | 14.39% |
| 10Y Return (Ann) | 3.37% | 12.63% |
| Sharpe Ratio | 1.03 | 2.47 |
| Daily Std Dev | 11.19% | 11.51% |
| Max Drawdown | -66.43% | -55.19% |
| Current Drawdown | -11.93% | -0.57% |
Correlation
The correlation between PGX and SPY is 0.42, 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
PGX vs. SPY - Performance Comparison
In the year-to-date period, PGX achieves a 2.32% return, which is significantly lower than SPY's 9.78% return. Over the past 10 years, PGX has underperformed SPY with an annualized return of 3.37%, while SPY has yielded a comparatively higher 12.63% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
PGX vs. SPY - Expense Ratio Comparison
PGX has a 0.52% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
PGX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Preferred ETF (PGX) 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
PGX vs. SPY - Dividend Comparison
PGX's dividend yield for the trailing twelve months is around 6.26%, more than SPY's 1.29% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGX Invesco Preferred ETF | 6.26% | 6.42% | 6.29% | 4.82% | 4.89% | 5.31% | 6.09% | 5.66% | 5.31% | 5.84% | 5.98% | 6.78% |
SPY SPDR S&P 500 ETF | 1.29% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
PGX vs. SPY - Drawdown Comparison
The maximum PGX drawdown since its inception was -66.43%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PGX and SPY. For additional features, visit the drawdowns tool.
Volatility
PGX vs. SPY - Volatility Comparison
Invesco Preferred ETF (PGX) and SPDR S&P 500 ETF (SPY) have volatilities of 3.79% and 3.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.