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DYLG vs. PBP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DYLG vs. PBP

Last updated Aug 2, 2026
Documentation

DYLG (Global X Dow 30 Covered Call & Growth ETF) and PBP (Invesco S&P 500 BuyWrite ETF) are both Derivative Income funds - DYLG tracks the Cboe DJIA Half BuyWrite Index - Benchmark TR Gross while PBP tracks the Cboe S&P 500 BuyWrite Index. Both are passively managed. Over the past 3 years, DYLG returned 13.16%/yr vs 11.92%/yr for PBP. Their 0.66 correlation means they have sometimes moved together and sometimes differently. DYLG charges 0.35%/yr vs 0.29%/yr for PBP.

Performance

DYLG vs. PBP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Dow 30 Covered Call & Growth ETF (DYLG) and Invesco S&P 500 BuyWrite ETF (PBP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DYLG achieves a 8.59% return, which is significantly higher than PBP's 7.80% return.

DYLG

1D
0.64%
1M
0.75%
6M
7.29%
YTD
8.59%
1Y
20.19%
3Y*
13.16%
5Y*
—
10Y*
—
ALL TIME*
13.25%

PBP

1D
0.22%
1M
1.70%
6M
6.52%
YTD
7.80%
1Y
19.22%
3Y*
11.92%
5Y*
8.34%
10Y*
7.27%
ALL TIME*
5.33%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

DYLG

Global X Dow 30 Covered Call & Growth ETF
$29.24K$30.29K$73.30K

PBP

Invesco S&P 500 BuyWrite ETF
$1.16M$1.09M$978.18K

DYLG vs. PBP - Yearly Performance Comparison

2026 (YTD)202520242023
DYLG
Global X Dow 30 Covered Call & Growth ETF		8.59%12.50%14.46%4.05%
PBP
Invesco S&P 500 BuyWrite ETF		7.80%8.49%19.83%0.47%

Correlation

The correlation between DYLG and PBP is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.70

Correlation (3Y)
Balances recent behavior with more history.

0.67

Correlation (All Time)
Calculated using the full available price history since Jul 26, 2023

0.66

The correlation between DYLG and PBP has been stable across timeframes, ranging from 0.66 to 0.70 - a consistent structural relationship.

DYLG vs. PBP - Sectors Allocation Comparison

Sectors
DYLG
PBP

Financial Services

26.7%
12.2%

Industrials

18.9%
7.7%

Technology

16.1%
38.5%

Healthcare

13.2%
9.1%

Consumer Cyclical

10.3%
8.8%

Communication Services

5.2%
9.3%

Basic Materials

3.9%
1.8%

Consumer Defensive

3.9%
4.6%

Energy

1.9%
3.4%

Real Estate

-

1.9%

Utilities

-

2.7%

Financial Services

DYLG
26.7%
PBP
12.2%

Industrials

DYLG
18.9%
PBP
7.7%

Technology

DYLG
16.1%
PBP
38.5%

Healthcare

DYLG
13.2%
PBP
9.1%

Consumer Cyclical

DYLG
10.3%
PBP
8.8%

Communication Services

DYLG
5.2%
PBP
9.3%

Basic Materials

DYLG
3.9%
PBP
1.8%

Consumer Defensive

DYLG
3.9%
PBP
4.6%

Energy

DYLG
1.9%
PBP
3.4%

Real Estate

DYLG

-

PBP
1.9%

Utilities

DYLG

-

PBP
2.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Dow 30 Covered Call & Growth ETF

Invesco S&P 500 BuyWrite ETF

Often compared with DYLG:
DYLG vs. DJIADYLG vs. DOGGDYLG vs. DIADYLG vs. QYLGDYLG vs. SPYIDYLG vs. XLGDYLG vs. SCHD
Often compared with PBP:
PBP vs. SPYPBP vs. XYLDPBP vs. JEPIPBP vs. VOOPBP vs. FTHIPBP vs. SCHDPBP vs. JEPQ

Return for Risk

DYLG vs. PBP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
DYLG
DYLG Risk / Return Rank: 7979
Overall Rank
DYLG Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
DYLG Sortino Ratio Rank: 8484
Sortino Ratio Rank
DYLG Omega Ratio Rank: 8585
Omega Ratio Rank
DYLG Calmar Ratio Rank: 6666
Calmar Ratio Rank
DYLG Martin Ratio Rank: 7575
Martin Ratio Rank
PBP
PBP Risk / Return Rank: 9292
Overall Rank
PBP Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
PBP Sortino Ratio Rank: 9393
Sortino Ratio Rank
PBP Omega Ratio Rank: 9494
Omega Ratio Rank
PBP Calmar Ratio Rank: 8787
Calmar Ratio Rank
PBP Martin Ratio Rank: 9494
Martin Ratio Rank
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.

DYLG vs. PBP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Dow 30 Covered Call & Growth ETF (DYLG) and Invesco S&P 500 BuyWrite ETF (PBP). 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.

DYLGPBPDifference
Sharpe ratioReturn per unit of total volatility
1.97
2.42

-0.45

Sortino ratioReturn per unit of downside risk
2.80
3.49

-0.70

Omega ratioGain probability vs. loss probability

1.37

1.51

-0.14

Calmar ratioReturn relative to maximum drawdown

2.30

3.45

-1.15

Martin ratioReturn relative to average drawdown

9.40

17.72

-8.32

DYLG vs. PBP - Sharpe Ratio Comparison

The current DYLG Sharpe Ratio is 1.97, which is comparable to the PBP Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of DYLG and PBP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DYLG vs. PBP - Drawdown Comparison

The maximum DYLG drawdown since its inception was -13.98%, smaller than the maximum PBP drawdown of -43.43%. Use the drawdown chart below to compare losses from any high point for DYLG and PBP.

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Drawdown Indicators

DYLGPBPDifference

Max Drawdown

Largest peak-to-trough decline

-13.98%

-43.43%

+29.45%

Max Drawdown (1Y)

Largest decline over 1 year

-8.31%

-5.22%

-3.09%

Max Drawdown (3Y)

Largest decline over 3 years

-13.98%

-15.42%

+1.44%

Max Drawdown (5Y)

Largest decline over 5 years

—

-18.61%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.31%

—

Current Drawdown

Current decline from peak

-0.15%

0.00%

-0.15%

Average Drawdown

Average peak-to-trough decline

-1.78%

-6.64%

+4.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.03%

1.02%

+1.01%

Volatility

DYLG vs. PBP - Volatility Comparison

Global X Dow 30 Covered Call & Growth ETF (DYLG) has a higher volatility of 3.02% compared to Invesco S&P 500 BuyWrite ETF (PBP) at 2.15%. This indicates that DYLG's price experiences larger fluctuations and is considered to be riskier than PBP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DYLGPBPDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.02%

2.15%

+0.87%

Volatility (6M)

Calculated over the trailing 6-month period

7.91%

6.10%

+1.81%

Volatility (1Y)

Calculated over the trailing 1-year period

9.70%

7.43%

+2.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.35%

11.85%

-0.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.35%

13.66%

-2.31%

DYLG vs. PBP - Expense Ratio Comparison

DYLG has a 0.35% expense ratio, which is higher than PBP's 0.29% expense ratio.

Dividends

DYLG vs. PBP - Dividend Comparison

DYLG's dividend yield for the trailing twelve months is around 9.22%, less than PBP's 11.39% yield.

PositionTTM20252024202320222021202020192018201720162015
DYLG
Global X Dow 30 Covered Call & Growth ETF		9.22%9.63%16.55%1.38%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PBP
Invesco S&P 500 BuyWrite ETF		11.39%11.12%9.36%3.35%1.33%6.21%1.41%5.04%2.59%10.86%2.56%6.19%

Frequently Asked Questions

DYLG and PBP have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DYLG has higher volatility (3.02%) compared to PBP (2.15%). In terms of maximum drawdown, DYLG dropped -13.98% vs PBP's -43.43%.

On 3-year performance, DYLG leads with 13.16% vs 11.92% for PBP. On fees, PBP is cheaper at 0.29% per year. On volatility, PBP has been the lower-risk option at 2.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, DYLG has performed better with a 13.16% return vs 11.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PBP is cheaper with a 0.29% expense ratio, compared with 0.35% for DYLG.

PBP has the higher dividend yield at 11.39%, compared with 9.22% for DYLG.

DYLG tracks Cboe DJIA Half BuyWrite Index - Benchmark TR Gross, while PBP tracks Cboe S&P 500 BuyWrite Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.35% for DYLG and 0.29% for PBP.

PBP currently has the higher Sharpe Ratio (2.42 vs 1.97), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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