BSPPX vs. PUTW

Last updated Aug 4, 2026

BSPPX (iShares S&P 500 Index Fund Investor P Shares) and PUTW (WisdomTree PutWrite Strategy Fund) are both funds - BSPPX is a S&P 500 fund tracking the S&P 500 Index, while PUTW is a Derivative Income fund tracking the Volos U.S. Large Cap Target 2.5% PutWrite Index. Both are passively managed. Their 0.73 correlation means they have sometimes moved together and sometimes differently. BSPPX charges 0.35%/yr vs 0.44%/yr for PUTW.

Performance

BSPPX vs. PUTW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 Index Fund Investor P Shares (BSPPX) and WisdomTree PutWrite Strategy Fund (PUTW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BSPPX

• 1D: 0.71%
• 1M: 0.12%
• 6M: 7.78%
• YTD: 9.90%
• 1Y: 21.04%
• 3Y*: 18.99%
• 5Y*: 12.45%
• 10Y*: —
• ALL TIME*: 14.19%

PUTW

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BSPPX iShares S&P 500 Index Fund Investor P Shares	$0.00	$0.00	$0.00

BSPPX vs. PUTW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BSPPX iShares S&P 500 Index Fund Investor P Shares	9.90%	17.46%	24.54%	25.85%	-18.40%	28.23%	18.05%	31.02%	-13.57%
PUTW WisdomTree PutWrite Strategy Fund	0.00%	-2.80%	17.19%	14.01%	-11.11%	20.92%	1.67%	13.55%	-12.79%

Correlation

The correlation between BSPPX and PUTW is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.72
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018	0.73

The correlation between BSPPX and PUTW has been stable across timeframes, ranging from 0.64 to 0.73 - a consistent structural relationship.

Return for Risk

BSPPX vs. PUTW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BSPPX

BSPPX Risk / Return Rank: 55
BSPPX Sharpe Ratio Rank: 51
BSPPX Sortino Ratio Rank: 48
BSPPX Omega Ratio Rank: 49
BSPPX Calmar Ratio Rank: 57
BSPPX Martin Ratio Rank: 69

PUTW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BSPPX vs. PUTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Index Fund Investor P Shares (BSPPX) and WisdomTree PutWrite Strategy Fund (PUTW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BSPPX	PUTW	Difference
Sharpe ratio: Return per unit of total volatility	1.49	—	—
Sortino ratio: Return per unit of downside risk	2.08	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.14	—	—
Martin ratio: Return relative to average drawdown	9.18	—	—

Drawdowns

Drawdown Indicators

	BSPPX	PUTW	Difference
Max Drawdown Largest peak-to-trough decline	-33.76%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.70%	—	—
Current Drawdown Current decline from peak	-1.47%	—	—
Average Drawdown Average peak-to-trough decline	-5.15%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	—	—

Volatility

Volatility by Period

	BSPPX	PUTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.86%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.64%	—	—

BSPPX vs. PUTW - Expense Ratio Comparison

BSPPX has a 0.35% expense ratio, which is lower than PUTW's 0.44% expense ratio.

Dividends

BSPPX vs. PUTW - Dividend Comparison

BSPPX's dividend yield for the trailing twelve months is around 1.37%, while PUTW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BSPPX iShares S&P 500 Index Fund Investor P Shares	1.37%	1.43%	1.12%	1.22%	1.67%	1.53%	1.38%	1.70%	1.35%	0.00%	0.00%
PUTW WisdomTree PutWrite Strategy Fund	0.00%	4.16%	11.99%	7.63%	2.16%	0.00%	1.43%	1.47%	5.49%	3.33%	2.27%

Frequently Asked Questions

Can I hold both BSPPX and PUTW in my portfolio?

BSPPX and PUTW have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.