PDP vs SPY
PDP vs SPY
Invesco Dorsey Wright Momentum ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PDP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.62% | 0.09% | |
| AUM | $1.5B | $789.1B | |
| Dividend Yield | 0.07% | 1.01% | |
| Holdings | 103 | 505 | |
| YTD Return | +15.88% | +13.10% | |
| 1Y Return | +22.68% | +22.80% | |
| 3Y Return (annualized) | +20.07% | +20.98% | |
| 5Y Return (annualized) | +8.39% | +13.20% | |
| Volatility (annualized) | 18.4% | 15.3% | |
| Max Drawdown | -59.3% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 1, 2007 | Jan 22, 1993 |
PDP vs SPY Performance
Invesco Dorsey Wright Momentum ETF (PDP) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PDP returned +22.68% while SPY returned +22.80%. Year to date, PDP is up 15.88% versus a gain of 13.10% for SPY.
Over three years, PDP compounded at +20.07% per year against +20.98% for SPY; over five years the annualized figures are +8.39% and +13.20% respectively. Across the full 19-year window we track, PDP has the edge at +9.74% annualized vs +8.83%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PDP has been the more volatile fund, with annualized monthly volatility of 18.4% compared with 15.3% 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 -59.3% for PDP and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PDP charges 0.62% per year while SPY charges 0.09%. On a $10,000 position that is $62 vs $9 annually, a gap of $53 per year that compounds over a long holding period. On income, PDP currently yields 0.07% against 1.01% for SPY.
Holdings Overlap
PDP and SPY share 60 holdings out of 544 unique holdings combined, representing a 17.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in PDP | Weight in SPY | Difference |
|---|---|---|---|
| AAPL | 2.82% | 7.09% | 4.27% |
| MU | 3.05% | 1.71% | 1.34% |
| GOOGL | 1.32% | 3.32% | 2.00% |
| WDC | Pro | Pro | Pro |
| AMAT | Pro | Pro | Pro |
| APH | Pro | Pro | Pro |
| FIX | Pro | Pro | Pro |
| STX | Pro | Pro | Pro |
| TRGP | Pro | Pro | Pro |
| LRCX | Pro | Pro | Pro |
See all 10 holdings PDP shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, PDP or SPY?
PDP has an expense ratio of 0.62% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $53 per year of difference.
Which performed better, PDP or SPY?
Over the past year PDP returned +22.68% vs +22.80% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), PDP annualized +9.74% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, PDP or SPY?
PDP has been the more volatile fund at 18.4% annualized versus 15.3% for SPY. Worst drawdown: PDP -59.3% vs SPY -56.5%.
Should I hold both PDP and SPY?
PDP and SPY have a monthly-return correlation of 0.89, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PDP and SPY?
PDP and SPY share 60 common holdings with a 17.1% weight overlap. Combined, they hold 544 unique securities.
Which pays a higher dividend, PDP or SPY?
PDP yields 0.07% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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