This paper evaluated the influence of neutron spectrum on characteristics of several equilibrium fuel cycles of pressurized water reactor (PWR). In this study, five kinds of fuel cycles were investigated. Required uranium enrichment, required natural uranium amount, and toxicity of heavy metals (HMs) in spent fuel were presented for comparison. The results showed that the enrichment and the required amount of natural uranium decrease significantly with increasing number of confined heavy nuclides when uranium is discharged from the reactor. On the other hand, when uranium is totally confined, the enrichment becomes extremely high. The confinement of plutonium and minor actinides (MA) seems effective in reducing radio-toxicity of discharged wastes. By confining all heavy nuclides except uranium those three characteristics could be reduced considerably. For this fuel cycle the toxicity of HMs in spent fuel become nearly equal to or less than that of loaded uranium.