Obviously, if I run a full node, I can query the copy of the public ledger locally, and my privacy is very strong. Nobody but myself is able to see what addresses I'm interested in.

On the other end of the spectrum, if I let some centralized system (web wallet) hold my keys, then obviously I have given up my privacy.

But what about if I run a SPV client (wallet)? Then the client has to rely on other full nodes in the system to query for addresses. And let's suppose that the nearby nodes are honest and that I'm not concerned with security. But what about privacy? Can it potentially be compromised by say some third party intercepting my queries and collecting a list of my addresses?

In particular, Electrum, as far as I know, is SPV wallet. How strong my privacy is with Electrum?