PRIV vs SPY
PRIV vs SPY
State Street IG Public & Private Credit 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 | PRIV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.09% | |
| AUM | $837M | $789.1B | |
| Dividend Yield | 4.58% | 1.01% | |
| Holdings | 201 | 505 | |
| YTD Return | -0.24% | +9.93% | |
| 1Y Return | +3.32% | +19.50% | |
| 3Y Return (annualized) | - | +19.33% | |
| 5Y Return (annualized) | - | +12.82% | |
| Volatility (annualized) | 3.2% | 15.3% | |
| Max Drawdown | -2.8% | -56.5% | |
| Fund Family | SPDR State Street Global Advisors | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Feb 26, 2025 | Jan 22, 1993 |
PRIV vs SPY Performance
State Street IG Public & Private Credit ETF (PRIV) is a ETF from SPDR State Street Global Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PRIV returned +3.32% while SPY returned +19.50%. Year to date, PRIV is down 0.24% versus a gain of 9.93% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.2% for PRIV. 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 -2.8% for PRIV 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 0.39. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PRIV charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, PRIV currently yields 4.58% against 1.01% for SPY.
Holdings Overlap
PRIV and SPY share 0 holdings out of 662 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PRIV or SPY?
PRIV has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, PRIV or SPY?
Over the past year PRIV returned +3.32% vs +19.50% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), PRIV annualized +3.38% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, PRIV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 3.2% for PRIV. Worst drawdown: PRIV -2.8% vs SPY -56.5%.
Should I hold both PRIV and SPY?
PRIV and SPY have a monthly-return correlation of 0.39, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PRIV and SPY?
PRIV and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 662 unique securities.
Which pays a higher dividend, PRIV or SPY?
PRIV yields 4.58% while SPY yields 1.01%, so PRIV currently pays the higher dividend yield.
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