PY vs SYLD
Principal Value ETF vs Cambria Shareholder Yield ETF
Which is better, PY or SYLD?
Each has led over a different period.
PY has a lower expense ratio. PY led over 3Y and 5Y, SYLD over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. SYLD is less concentrated, with 10.4% of the fund in its ten largest positions against 26.6%.
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 | PY | SYLD |
|---|---|---|
| Expense Ratio | 0.15%Best | 0.59% |
| AUM | $238M | $987M |
| Dividend Yield | 1.92% | 1.82% |
| Holdings | 206 | 200 |
| YTD Return | +10.62% | +16.89%Best |
| 1Y Return | +12.95% | +21.10%Best |
| 3Y Return (annualized) | +15.76%Best | +12.08% |
| 5Y Return (annualized) | +8.45%Best | +7.60% |
| Volatility (annualized) | 19.1%Best | 21.4% |
| Max Drawdown | -45.5% | -45.4%Best |
| $10,000 over 5 years | $15,002Best | $14,423 |
| Top 10 Weight | 26.6% | 10.4%Best |
| Fund Family | Principal Funds | Cambria Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Mid Cap Value |
| Inception | Mar 21, 2016 | May 13, 2013 |
Volatility and max drawdown are measured over the window both funds cover: Mar 22, 2016 to Oct 14, 2026 (10.6 years).
PY vs SYLD 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 covers the 10.6 years both funds cover.
PY vs SYLD Performance
Principal Value ETF (PY) is an ETF from Principal Funds and Cambria Shareholder Yield ETF (SYLD) is an ETF from Cambria Investment Management. Over the past year PY returned +12.95% while SYLD returned +21.10%. Year to date, PY is up 10.62% versus a gain of 16.89% for SYLD.
Over three years, PY compounded at +15.76% per year against +12.08% for SYLD; over five years the annualized figures are +8.45% and +7.60% respectively. Across the full 11-year window we track, SYLD has the edge at +12.67% annualized vs +9.67%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SYLD has been the more volatile fund, with annualized monthly volatility of 21.4% compared with 19.1% for PY. 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 -45.5% for PY and -45.4% for SYLD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
PY charges 0.15% per year while SYLD charges 0.59%. On a $10,000 position that is $15 vs $59 annually, a gap of $44 per year that compounds over a long holding period. On income, PY currently yields 1.92% against 1.82% for SYLD.
Holdings Overlap
13.7% of PY's money is in holdings SYLD also owns. 15.1% of SYLD's money is in holdings PY also owns.
SYLD and PY share little of their money.
15 positions in common, counted across the 101 positions we hold weights for in PY and 101 in SYLD, against full books of 206 and 200.
What only one of them owns
Our book lists 85 positions for SYLD that do not appear in our book for PY (83.8% of the fund), and 85 for PY that do not appear in SYLD (85.4%).
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 PY | Weight in SYLD | Difference |
|---|---|---|---|
| XOMExxon Mobil Corp. | 1.56% | 1.00% | 0.56% |
| VZVerizon Communications Inc Com Usd1 | 1.39% | 0.99% | 0.40% |
| MPCMarathon Petroleum Corp. | 1.26% | 1.06% | 0.20% |
| TRVTravelers Cos., Inc. | 1.03% | 1.00% | 0.03% |
| EOGEog Resources Inc | 0.95% | 1.02% | 0.07% |
| ALLAllstate Corp. | 0.87% | 1.00% | 0.13% |
| CMCSAComcast Corp. Class A | 0.90% | 0.96% | 0.06% |
| PYPLPaypal Holdings Inc | 0.82% | 1.03% | 0.21% |
| AMPAmeriprise Financial Inc. | 0.84% | 0.98% | 0.14% |
| APAApa Corp | 0.79% | 1.02% | 0.23% |
You are not choosing between two funds in isolation.
Whichever of PY and SYLD 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, PY or SYLD?
PY has an expense ratio of 0.15% while SYLD charges 0.59%. PY is the cheaper option, by $44 a year on a $10,000 investment.
Which performed better, PY or SYLD?
Over the past year PY returned +12.95% vs +21.10% for SYLD, so SYLD leads on 1-year performance. Over the longest common window we track (11 years), PY annualized +9.67% vs +12.67% for SYLD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PY or SYLD?
SYLD has been the more volatile fund at 21.4% annualized versus 19.1% for PY. Worst drawdown: PY -45.5% vs SYLD -45.4%.
Should I hold both PY and SYLD?
PY and SYLD have a monthly-return correlation of 0.91, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between PY and SYLD?
15.1% of SYLD's money is in holdings PY also owns. 15.1% of SYLD's is in holdings PY also owns. They hold 15 positions in common, counted across the 101 positions we hold weights for in PY and 101 in SYLD.
Which pays a higher dividend, PY or SYLD?
PY yields 1.92% while SYLD yields 1.82%, so PY currently pays the higher dividend yield.
Is SYLD better than PY?
PY has a lower expense ratio. PY led over 3Y and 5Y, SYLD over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. SYLD is less concentrated, with 10.4% of the fund in its ten largest positions against 26.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.