PJFV vs. SPY

Last updated Jun 24, 2026

PJFV (PGIM Jennison Focused Value ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - PJFV is a Large Cap Value Equities fund actively managed by PGIM, while SPY is a S&P 500 fund tracking the S&P 500 Index. PJFV is actively managed, while SPY is passively managed. Over the past 3 years, PJFV returned 24.88%/yr vs 20.68%/yr for SPY. Their correlation of 0.86 suggests significant overlap in exposure. PJFV charges 0.75%/yr vs 0.09%/yr for SPY.

Performance

PJFV vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Focused Value ETF (PJFV) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PJFV achieves a 16.89% return, which is significantly higher than SPY's 8.15% return.

PJFV

• 1D: -0.95%
• 1M: 3.08%
• YTD: 16.89%
• 6M: 16.25%
• 1Y: 34.17%
• 3Y*: 24.88%
• 5Y*: —
• 10Y*: —

SPY

• 1D: -1.45%
• 1M: -1.36%
• YTD: 8.15%
• 6M: 7.20%
• 1Y: 23.59%
• 3Y*: 20.68%
• 5Y*: 13.05%
• 10Y*: 15.53%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PJFV vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PJFV PGIM Jennison Focused Value ETF	16.89%	18.65%	24.13%	18.52%	-3.25%
SPY State Street SPDR S&P 500 ETF	8.15%	17.72%	24.89%	26.18%	-4.42%

Correlation

The correlation between PJFV and SPY is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since Dec 14, 2022	0.86

The correlation between PJFV and SPY has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.

PJFV vs. SPY - Sectors Allocation Comparison

Sectors	PJFV	SPY
Industrials	19.3%	7.8%
Technology	18.7%	39.0%
Financial Services	16.6%	11.1%
Consumer Cyclical	10.0%	9.9%
Energy	8.2%	3.1%
Healthcare	8.1%	8.3%
Utilities	7.3%	2.1%
Communication Services	7.1%	10.6%
Consumer Defensive	3.9%	4.5%
Basic Materials	0.9%	1.7%
Real Estate	-	1.8%

Return for Risk

PJFV vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PJFV

PJFV Risk / Return Rank: 88
PJFV Sharpe Ratio Rank: 88
PJFV Sortino Ratio Rank: 88
PJFV Omega Ratio Rank: 86
PJFV Calmar Ratio Rank: 87
PJFV Martin Ratio Rank: 91

SPY

SPY Risk / Return Rank: 59
SPY Sharpe Ratio Rank: 58
SPY Sortino Ratio Rank: 56
SPY Omega Ratio Rank: 57
SPY Calmar Ratio Rank: 56
SPY Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PJFV vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Focused Value ETF (PJFV) 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.

	PJFV	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.69	1.90	+0.79
Sortino ratio: Return per unit of downside risk	3.69	2.58	+1.11
Omega ratio: Gain probability vs. loss probability	1.48	1.34	+0.14
Calmar ratio: Return relative to maximum drawdown	4.69	2.67	+2.03
Martin ratio: Return relative to average drawdown	19.89	11.92	+7.97

PJFV vs. SPY - Sharpe Ratio Comparison

The current PJFV Sharpe Ratio is 2.69, which is higher than the SPY Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of PJFV and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PJFV vs. SPY - Drawdown Comparison

The maximum PJFV drawdown since its inception was -18.15%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PJFV and SPY.

Drawdown Indicators

	PJFV	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-18.15%	-55.19%	+37.04%
Max Drawdown (1Y) Largest decline over 1 year	-7.31%	-8.88%	+1.57%
Max Drawdown (3Y) Largest decline over 3 years	-18.15%	-18.76%	+0.61%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-0.95%	-3.17%	+2.22%
Average Drawdown Average peak-to-trough decline	-2.11%	-9.04%	+6.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.98%	-0.26%

Volatility

PJFV vs. SPY - Volatility Comparison

The current volatility for PGIM Jennison Focused Value ETF (PJFV) is 4.31%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 4.87%. This indicates that PJFV experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PJFV	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.87%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	10.53%	9.85%	+0.68%
Volatility (1Y) Calculated over the trailing 1-year period	12.79%	12.50%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.18%	17.15%	-2.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.18%	17.95%	-3.77%

PJFV vs. SPY - Expense Ratio Comparison

PJFV has a 0.75% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

PJFV vs. SPY - Dividend Comparison

PJFV's dividend yield for the trailing twelve months is around 0.59%, less than SPY's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PJFV PGIM Jennison Focused Value ETF	0.59%	0.68%	1.31%	1.20%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.03%	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

Can I hold both PJFV and SPY in my portfolio?

PJFV and SPY have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PJFV or SPY?

SPY has higher volatility (4.87%) compared to PJFV (4.31%). In terms of maximum drawdown, PJFV dropped -18.15% vs SPY's -55.19%.

Which ETF is better, PJFV or SPY?

On 3-year performance, PJFV leads with 24.88% vs 20.68% for SPY. On fees, SPY is cheaper at 0.09% per year. On volatility, PJFV has been the lower-risk option at 4.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PJFV or SPY?

Over the 3-year period, PJFV has performed better with a 24.88% return vs 20.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PJFV or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.75% for PJFV.

Which ETF pays a higher dividend yield, PJFV or SPY?

SPY has the higher dividend yield at 1.03%, compared with 0.59% for PJFV.

What is the main difference between PJFV and SPY?

PJFV is categorized as Large Cap Value Equities, while SPY is S&P 500. They also come from different issuers: PGIM and State Street. Their fees differ too: 0.75% for PJFV and 0.09% for SPY.

Which has better risk-adjusted returns?

PJFV currently has the higher Sharpe Ratio (2.69 vs 1.90), 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.