PJBF vs SPY
PGIM Jennison Better Future ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PJBF or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. PJBF led over 1Y, SPY over the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 50.7%.
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 | PJBF | SPY |
|---|---|---|
| Expense Ratio | 0.59% | 0.09%Best |
| AUM | $11M | $823.2B |
| Dividend Yield | 0.21% | 0.99% |
| Holdings | 44 | 1,515 |
| Volatility (annualized) | 18.2% | 12.1%Best |
| Max Drawdown | -25.7% | -18.8%Best |
| $10,000 over 2.6 years | $13,420 | $16,359Best |
| Top 10 Weight | 50.7% | 38.2%Best |
| Fund Family | PGIM Investments | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Dec 14, 2023 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 93 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. PJBF has data through Jul 13, 2026 and SPY through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 2.6 years row, are measured over the window both funds cover: Dec 19, 2023 to Jul 13, 2026 (2.6 years).
Risk: Volatility and Drawdowns
PJBF has been the more volatile fund, with annualized monthly volatility of 18.2% compared with 12.1% for SPY. 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 -25.7% for PJBF and -18.8% 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PJBF charges 0.59% per year while SPY charges 0.09%. On a $10,000 position that is $59 vs $9 annually, a gap of $50 per year that compounds over a long holding period. On income, PJBF currently yields 0.21% against 0.99% for SPY.
Holdings Overlap
54.2% of PJBF's money is in holdings SPY also owns. 35.6% of SPY's money is in holdings PJBF also owns.
The two portfolios partly overlap.
The two holdings books were reported 167 days apart, PJBF as of Mar 31, 2026 and SPY as of Sep 14, 2026, so some of the difference between them is the time between the two reports rather than the funds.
18 positions in common, counted across the 37 positions we hold weights for in PJBF and 504 in SPY, against full books of 44 and 1,515.
What only one of them owns
Our book lists 478 positions for SPY that do not appear in our book for PJBF (63.4% of the fund), and 6 for PJBF that do not appear in SPY (10.2%).
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 PJBF | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.19% | 7.78% | 0.41% |
| AAPLApple, Inc | 3.63% | 7.45% | 3.82% |
| GOOGLAlphabet Inc | 7.37% | 3.12% | 4.25% |
| AMZNAmazon.Com Inc | 4.33% | 3.78% | 0.55% |
| MSFTMicrosoft Corp | 1.07% | 5.71% | 4.64% |
| GEVGe Vernova, Inc. | 5.20% | 0.36% | 4.84% |
| AVGOBroadcom Inc | 1.75% | 2.48% | 0.73% |
| AMDAdvanced Micro Devices Inc | 3.01% | 1.22% | 1.79% |
| LRCXLrcx Uw Equity | 3.32% | 0.52% | 2.80% |
| LLYEli Lilly & Co. | 2.34% | 1.37% | 0.97% |
54.2% of PJBF is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PJBF or SPY?
PJBF has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option, by $50 a year on a $10,000 investment.
Which is riskier, PJBF or SPY?
PJBF has been the more volatile fund at 18.2% annualized versus 12.1% for SPY. Worst drawdown: PJBF -25.7% vs SPY -18.8%.
Should I hold both PJBF and SPY?
PJBF and SPY have a monthly-return correlation of 0.82, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PJBF and SPY?
54.2% of PJBF's money is in holdings SPY also owns. 35.6% of SPY's is in holdings PJBF also owns. They hold 18 positions in common, counted across the 37 positions we hold weights for in PJBF and 504 in SPY.
Which pays a higher dividend, PJBF or SPY?
PJBF yields 0.21% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than PJBF?
SPY has a lower expense ratio. PJBF led over 1Y, SPY over the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 50.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.