PCY vs SPY

Comparison between INVESCO EMERGING MARKETS SOVEREIGN DEBT ETF (PCY, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed PCY, delivering a return of +13.3% compared to +1.4%

PCY vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PCY(ETF)	SPY(ETF)
Net Assets	$1.40B	$652B
Expense Ratio	0.50%	0.09%
Max Drawdown	49.44%	56.47%
Sharpe Ratio	1.61	2.07
5Y Beta	0.38	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	0.54%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

PCY

$1.40B

Winner

SPY

$652B

Expense Ratio

PCY

0.50%

Winner

SPY

0.09%

Max Drawdown

Winner

PCY

49.44%

SPY

56.47%

Sharpe Ratio

PCY

1.61

Winner

SPY

2.07

5Y Beta

Winner

PCY

0.38

SPY

1.00

P/E Ratio

PCY

N/A

SPY

28.24

Forward P/E

PCY

N/A

SPY

21.85

5Y Dividends CAGR

PCY

0.54%

Winner

SPY

5.43%

5Y EPS CAGR

PCY

N/A

SPY

25.79%

Debt to Equity

PCY

N/A

SPY

22.35%

P/S Ratio

PCY

N/A

SPY

3.55

P/B Ratio

PCY

N/A

SPY

5.29

PCY vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	PCY	SPY
1 month	+1.94%	+9.11%
3 months	+1.12%	+6.59%
6 months	+2.59%	+10.56%
1 year	+17.57%	+32.04%
5 years(CAGR)	+1.36%	+13.35%
10 years(CAGR)	+2.83%	+15.49%
Max(CAGR)	+4.69%	+8.50%

PCY

+1.94%

Winner

SPY

+9.11%

PCY

+1.12%

Winner

SPY

+6.59%

PCY

+2.59%

Winner

SPY

+10.56%

PCY

+17.57%

Winner

SPY

+32.04%

5Y(CAGR)

PCY

+1.36%

Winner

SPY

+13.35%

10Y(CAGR)

PCY

+2.83%

Winner

SPY

+15.49%

Max(CAGR)

PCY

+4.69%

Winner

SPY

+8.50%

PCY vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	PCY	SPY
2026	+1.87%	+8.27%
2025	+15.67%	+18.00%
2024	+3.76%	+25.59%
2023	+17.40%	+26.72%
2022	-23.63%	-18.64%
2021	-3.69%	+30.52%
2020	+2.04%	+17.28%
2019	+17.66%	+31.09%
2018	-6.44%	-5.24%
2017	+9.62%	+20.78%
2016	+9.16%	+13.59%
2015	+2.68%	+1.31%
2014	+9.04%	+14.56%
2013	-10.55%	+29.00%
2012	+21.91%	+14.17%
2011	+8.04%	+0.85%
2010	+11.15%	+13.14%
2009	+28.92%	+22.67%
2008	-17.73%	-36.25%
2007	+4.15%	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

PCY vs SPY Drawdown Comparison

The maximum drawdown for PCY was -49.13%, occurring on Oct 27, 2008. Recovery took 231 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current PCY drawdown is -0.50%.

Rank	PCY	SPY
#1	-49.13% Sep 29, 2008 - Aug 28, 2009	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-37.76% Feb 21, 2020 - Oct 1, 2025	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-21.74% May 21, 2008 - Sep 29, 2008	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-16.57% May 2, 2013 - Aug 27, 2014	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-10.16% Jan 8, 2018 - Mar 21, 2019	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-9.22% Sep 7, 2016 - Jun 2, 2017	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-7.45% Nov 4, 2010 - Jul 29, 2011	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-6.78% Aug 27, 2014 - Feb 3, 2015	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-6.77% Sep 8, 2011 - Nov 8, 2011	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-5.93% Apr 24, 2015 - Oct 16, 2015	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-5.91% Feb 25, 2026 - Mar 27, 2026	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-4.83% Apr 15, 2010 - Jul 7, 2010	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-4.77% Jan 2, 2013 - May 2, 2013	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-4.48% Oct 16, 2015 - Mar 1, 2016	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-4.45% Oct 14, 2009 - Mar 9, 2010	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between PCY and SPY is 0.75 which considered as a strong positive correlation - the stocks tend to move together.

0.75

-101

Dividend Comparison (1999 - 2026)

PCY vs SPY dividend yield comparison.

Year	PCY	SPY
2026	1.93%	0.24%
2025	5.93%	1.07%
2024	6.65%	1.21%
2023	6.48%	1.40%
2022	6.81%	1.65%
2021	4.80%	1.20%
2020	4.45%	1.52%
2019	4.78%	1.75%
2018	4.93%	2.04%
2017	4.80%	1.80%
2016	5.19%	2.03%
2015	5.46%	2.06%
2014	4.58%	1.87%
2013	4.69%	1.81%
2012	4.62%	2.18%
2011	5.46%	2.05%
2010	5.90%	1.80%
2009	6.29%	1.95%
2008	7.13%	3.02%
2007	1.17%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%