PQUS vs SPY
Pictet AI Enhanced US Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PQUS or SPY?
SPY costs less.
SPY has a lower expense ratio. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 41.5%.
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 | PQUS | SPY |
|---|---|---|
| Expense Ratio | 0.22% | 0.09%Best |
| AUM | $166M | $823.2B |
| Dividend Yield | 0.00% | 0.99% |
| Holdings | 176 | 1,515 |
| YTD Return | +13.63%Best | +13.53% |
| 1Y Return | - | +17.47% |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Top 10 Weight | 41.5% | 38.2%Best |
| Fund Family | Pictet Asset Management Ltd. (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Feb 25, 2026 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
PQUS 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.
PQUS vs SPY Performance
Pictet AI Enhanced US Equity ETF (PQUS) is an ETF from Pictet Asset Management Ltd. (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Year to date, PQUS is up 13.63% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
PQUS charges 0.22% per year while SPY charges 0.09%. On a $10,000 position that is $22 vs $9 annually, a gap of $13 per year that compounds over a long holding period. On income, PQUS currently yields 0.00% against 0.99% for SPY.
Holdings Overlap
85.2% of PQUS's money is in holdings SPY also owns. 72.9% of SPY's money is in holdings PQUS also owns.
Most of PQUS is already inside SPY. Owning both mostly buys the same companies twice.
146 positions in common, counted across the 154 positions we hold weights for in PQUS and 504 in SPY, against full books of 176 and 1,515.
What only one of them owns
Our book lists 352 positions for SPY that do not appear in our book for PQUS (26.4% of the fund), and 5 for PQUS that do not appear in SPY (9.6%).
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 PQUS | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.66% | 7.78% | 0.12% |
| AAPLApple, Inc | 6.52% | 7.45% | 0.93% |
| MSFTMicrosoft Corp | 5.25% | 5.71% | 0.46% |
| AMZNAmazon.Com Inc | 3.28% | 3.78% | 0.50% |
| GOOGLAlphabet Inc | 2.60% | 3.12% | 0.52% |
| GOOGAlphabet Inc. C | 2.30% | 2.49% | 0.19% |
| AVGOBroadcom Inc | 2.25% | 2.48% | 0.23% |
| METAMeta Platforms Inc | 2.05% | 2.22% | 0.17% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 2.18% | 1.44% | 0.74% |
| LLYEli Lilly & Co. | 2.23% | 1.37% | 0.86% |
85.2% of PQUS 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, PQUS or SPY?
PQUS has an expense ratio of 0.22% while SPY charges 0.09%. SPY is the cheaper option, by $13 a year on a $10,000 investment.
What is the holdings overlap between PQUS and SPY?
85.2% of PQUS's money is in holdings SPY also owns. 72.9% of SPY's is in holdings PQUS also owns. They hold 146 positions in common, counted across the 154 positions we hold weights for in PQUS and 504 in SPY.
Which pays a higher dividend, PQUS or SPY?
PQUS yields 0.00% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than PQUS?
SPY has a lower expense ratio. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 41.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.