All matrices are finite dimensional symmetric positive semidefinite matrices in this question.
Let $\Pi$ be projection i.e. in its eigenbasis, it is the the identity matrix with some diagonal elements replaced by $0$. Let $X$ be an arbitrary symmetric positive definite matrix. Is it true that
$$\text{tr}(\Pi X)\leq \text{tr}(X)$$
Using the answer here, I see that it is indeed true that $\text{tr}(\Pi X)\leq \text{rank}(\Pi)\text{tr}(X)$ but I was hoping the rank term could also be dropped.