PFXF vs SPY
VanEck Preferred Securities ex Financials ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PFXF or SPY?
Preferred Stock against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 47.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PFXF | SPY |
|---|---|---|
| Expense Ratio | 0.40% | 0.09%Best |
| AUM | $2.3B | $823.2B |
| Dividend Yield | 6.29% | 0.99% |
| Holdings | 240 | 1,515 |
| YTD Return | +0.17% | +13.53%Best |
| 1Y Return | +2.60% | +17.47%Best |
| 3Y Return (annualized) | +9.76% | +22.36%Best |
| 5Y Return (annualized) | +2.47% | +13.21%Best |
| Volatility (annualized) | 10.1%Best | 14.0% |
| Max Drawdown | -37.3% | -34.1%Best |
| $10,000 over 5 years | $11,298 | $18,596Best |
| Top 10 Weight | 47.2% | 38.2%Best |
| Fund Family | VanEck | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Preferred Stock | Large Cap Blend |
| Inception | Jul 16, 2012 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jul 17, 2012 to Oct 14, 2026 (14.2 years).
PFXF vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
PFXF vs SPY Performance
VanEck Preferred Securities ex Financials ETF (PFXF) is an ETF from VanEck and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PFXF returned +2.60% while SPY returned +17.47%. Year to date, PFXF is up 0.17% versus a gain of 13.53% for SPY.
Over three years, PFXF compounded at +9.76% per year against +22.36% for SPY; over five years the annualized figures are +2.47% and +13.21% respectively. Across the full 14-year window we track, SPY has the edge at +13.53% annualized vs +1.53%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.0% compared with 10.1% for PFXF. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -37.3% for PFXF and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PFXF charges 0.40% per year while SPY charges 0.09%. On a $10,000 position that is $40 vs $9 annually, a gap of $31 per year that compounds over a long holding period. On income, PFXF currently yields 6.29% against 0.99% for SPY.
Holdings Overlap
0.2% of PFXF's money is in holdings SPY also owns. 0.1% of SPY's money is in holdings PFXF also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 114 positions we hold weights for in PFXF and 504 in SPY, against full books of 240 and 1,515.
What only one of them owns
Our book lists 494 positions for SPY that do not appear in our book for PFXF (99.0% of the fund), and 108 for PFXF that do not appear in SPY (92.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PFXF | Weight in SPY | Difference |
|---|---|---|---|
| ETREntergy Louisiana Llc | 0.22% | 0.07% | 0.15% |
You are not choosing between two funds in isolation.
Whichever of PFXF and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PFXF or SPY?
PFXF has an expense ratio of 0.40% while SPY charges 0.09%. SPY is the cheaper option, by $31 a year on a $10,000 investment.
Which performed better, PFXF or SPY?
Over the past year PFXF returned +2.60% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (14 years), PFXF annualized +1.53% vs +13.53% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PFXF or SPY?
SPY has been the more volatile fund at 14.0% annualized versus 10.1% for PFXF. Worst drawdown: PFXF -37.3% vs SPY -34.1%.
Should I hold both PFXF and SPY?
PFXF and SPY have a monthly-return correlation of 0.74, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, PFXF or SPY?
PFXF yields 6.29% while SPY yields 0.99%, so PFXF currently pays the higher dividend yield.
Is SPY better than PFXF?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 47.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.