PRVT vs SPY
PRVT vs SPY
Tema Listed Private Managers 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 | PRVT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $424,747.12 | $789.1B | |
| Dividend Yield | 0.95% | 1.01% | |
| Holdings | 30 | 505 | |
| YTD Return | +13.92% | +13.10% | |
| 1Y Return | +13.92% | +22.80% | |
| 3Y Return (annualized) | +4.82% | +20.98% | |
| 5Y Return (annualized) | - | +13.20% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -20.4% | -56.5% | |
| Fund Family | Tema Global Limited | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Oct 1, 2025 | Jan 22, 1993 |
PRVT vs SPY Performance
Tema Listed Private Managers ETF (PRVT) is a ETF from Tema Global Limited and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PRVT returned +13.92% while SPY returned +22.80%. Year to date, PRVT is up 13.92% versus a gain of 13.10% for SPY.
Over three years, PRVT compounded at +4.82% per year against +20.98% for SPY. Across the full 3-year window we track, SPY has the edge at +8.83% annualized vs +4.71%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -20.4% for PRVT and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
PRVT charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, PRVT currently yields 0.95% against 1.01% for SPY.
Holdings Overlap
PRVT and SPY share 5 holdings out of 525 unique holdings combined, representing a 0.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in PRVT | Weight in SPY | Difference |
|---|---|---|---|
| APO | 5.65% | 0.09% | 5.56% |
| BX | 5.59% | 0.14% | 5.45% |
| KKR | 5.48% | 0.10% | 5.38% |
| ARES | Pro | Pro | Pro |
| BLK | Pro | Pro | Pro |
See all 5 holdings PRVT 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, PRVT or SPY?
PRVT has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, PRVT or SPY?
Over the past year PRVT returned +13.92% vs +22.80% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), PRVT annualized +4.71% vs +8.83% for SPY. Past performance does not guarantee future results.
What is the holdings overlap between PRVT and SPY?
PRVT and SPY share 5 common holdings with a 0.6% weight overlap. Combined, they hold 525 unique securities.
Which pays a higher dividend, PRVT or SPY?
PRVT yields 0.95% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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