PSCJ vs. SPY

Last updated Jun 23, 2026

PSCJ (Pacer Swan SOS Conservative (July) ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - PSCJ is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, PSCJ returned 13.12%/yr vs 21.27%/yr for SPY. Their correlation of 0.93 suggests significant overlap in exposure. PSCJ charges 0.61%/yr vs 0.09%/yr for SPY.

Performance

PSCJ vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Swan SOS Conservative (July) ETF (PSCJ) 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, PSCJ achieves a 5.07% return, which is significantly lower than SPY's 9.74% return.

PSCJ

• 1D: 0.06%
• 1M: 0.57%
• YTD: 5.07%
• 6M: 5.10%
• 1Y: 15.84%
• 3Y*: 13.12%
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.31%
• 1M: 0.09%
• YTD: 9.74%
• 6M: 9.27%
• 1Y: 26.65%
• 3Y*: 21.27%
• 5Y*: 13.51%
• 10Y*: 15.70%

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

PSCJ vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PSCJ Pacer Swan SOS Conservative (July) ETF	5.07%	12.80%	14.74%	18.48%	-7.48%	3.29%
SPY State Street SPDR S&P 500 ETF	9.74%	17.72%	24.89%	26.18%	-18.18%	11.70%

Correlation

The correlation between PSCJ and SPY is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	0.93

The correlation between PSCJ and SPY has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

PSCJ vs. SPY — Risk / Return Rank

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

PSCJ

PSCJ Risk / Return Rank: 90
PSCJ Sharpe Ratio Rank: 91
PSCJ Sortino Ratio Rank: 94
PSCJ Omega Ratio Rank: 95
PSCJ Calmar Ratio Rank: 77
PSCJ Martin Ratio Rank: 92

SPY

SPY Risk / Return Rank: 68
SPY Sharpe Ratio Rank: 69
SPY Sortino Ratio Rank: 66
SPY Omega Ratio Rank: 68
SPY Calmar Ratio Rank: 63
SPY Martin Ratio Rank: 74

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.

PSCJ vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Conservative (July) ETF (PSCJ) 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.

	PSCJ	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.99	2.16	+0.84
Sortino ratio: Return per unit of downside risk	4.69	2.91	+1.78
Omega ratio: Gain probability vs. loss probability	1.68	1.39	+0.29
Calmar ratio: Return relative to maximum drawdown	3.83	3.01	+0.81
Martin ratio: Return relative to average drawdown	21.57	13.54	+8.03

PSCJ vs. SPY - Sharpe Ratio Comparison

The current PSCJ Sharpe Ratio is 2.99, which is higher than the SPY Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of PSCJ 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

PSCJ vs. SPY - Drawdown Comparison

The maximum PSCJ drawdown since its inception was -11.87%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PSCJ and SPY.

Drawdown Indicators

	PSCJ	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-11.87%	-55.19%	+43.32%
Max Drawdown (1Y) Largest decline over 1 year	-4.16%	-8.88%	+4.72%
Max Drawdown (3Y) Largest decline over 3 years	-11.87%	-18.76%	+6.89%
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	0.00%	-1.75%	+1.75%
Average Drawdown Average peak-to-trough decline	-2.17%	-9.04%	+6.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	1.97%	-1.23%

Volatility

PSCJ vs. SPY - Volatility Comparison

The current volatility for Pacer Swan SOS Conservative (July) ETF (PSCJ) is 0.49%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 4.64%. This indicates that PSCJ 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

	PSCJ	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.49%	4.64%	-4.15%
Volatility (6M) Calculated over the trailing 6-month period	4.02%	9.75%	-5.73%
Volatility (1Y) Calculated over the trailing 1-year period	5.33%	12.43%	-7.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.68%	17.14%	-8.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.68%	17.99%	-9.31%

PSCJ vs. SPY - Expense Ratio Comparison

PSCJ has a 0.61% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

PSCJ vs. SPY - Dividend Comparison

PSCJ has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSCJ Pacer Swan SOS Conservative (July) ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both PSCJ and SPY in my portfolio?

With a correlation of 0.91, PSCJ and SPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PSCJ or SPY?

SPY has higher volatility (4.64%) compared to PSCJ (0.49%). In terms of maximum drawdown, PSCJ dropped -11.87% vs SPY's -55.19%.

Which ETF is better, PSCJ or SPY?

On 3-year performance, SPY leads with 21.27% vs 13.12% for PSCJ. On fees, SPY is cheaper at 0.09% per year. On volatility, PSCJ has been the lower-risk option at 0.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSCJ or SPY?

Over the 3-year period, SPY has performed better with a 21.27% return vs 13.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSCJ or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.61% for PSCJ.

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

SPY has the higher dividend yield at 1.01%, compared with 0.00% for PSCJ.

What is the main difference between PSCJ and SPY?

PSCJ is categorized as Defined Outcome, while SPY is S&P 500. PSCJ tracks SPDR S&P 500 ETF Trust, while SPY tracks S&P 500 Index. They also come from different issuers: Pacer and State Street. Their fees differ too: 0.61% for PSCJ and 0.09% for SPY.

Which has better risk-adjusted returns?

PSCJ currently has the higher Sharpe Ratio (2.99 vs 2.16), 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.