HIGH vs. PBP
Compare and contrast key facts about Simplify Enhanced Income ETF (HIGH) and Invesco S&P 500 BuyWrite ETF (PBP).
HIGH and PBP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HIGH is an actively managed fund by Simplify. It was launched on Oct 27, 2022. PBP is a passively managed fund by Invesco that tracks the performance of the Cboe S&P 500 BuyWrite Index. It was launched on Dec 20, 2007.
Performance
HIGH vs. PBP - Performance Comparison
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HIGH vs. PBP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | -2.89% | 4.35% | 1.52% | 7.70% | 0.27% |
PBP Invesco S&P 500 BuyWrite ETF | -1.04% | 8.49% | 19.83% | 11.59% | 0.67% |
Returns By Period
In the year-to-date period, HIGH achieves a -2.89% return, which is significantly lower than PBP's -1.04% return.
HIGH
- 1D
- -0.12%
- 1M
- -0.90%
- YTD
- -2.89%
- 6M
- -4.38%
- 1Y
- 4.90%
- 3Y*
- 2.90%
- 5Y*
- —
- 10Y*
- —
PBP
- 1D
- 2.04%
- 1M
- -2.62%
- YTD
- -1.04%
- 6M
- 5.76%
- 1Y
- 11.29%
- 3Y*
- 10.74%
- 5Y*
- 7.48%
- 10Y*
- 6.70%
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HIGH vs. PBP - Expense Ratio Comparison
HIGH has a 0.51% expense ratio, which is higher than PBP's 0.29% expense ratio.
Return for Risk
HIGH vs. PBP — Risk / Return Rank
HIGH
PBP
HIGH vs. PBP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Enhanced Income ETF (HIGH) 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.
| HIGH | PBP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.30 | 0.80 | -0.49 |
Sortino ratioReturn per unit of downside risk | 0.71 | 1.27 | -0.56 |
Omega ratioGain probability vs. loss probability | 1.09 | 1.25 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 0.51 | 1.12 | -0.61 |
Martin ratioReturn relative to average drawdown | 0.85 | 6.40 | -5.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HIGH | PBP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | 0.80 | -0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.63 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.49 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.32 | 0.00 |
Correlation
The correlation between HIGH and PBP is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
HIGH vs. PBP - Dividend Comparison
HIGH's dividend yield for the trailing twelve months is around 8.15%, less than PBP's 11.63% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | 8.15% | 7.71% | 8.34% | 9.40% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PBP Invesco S&P 500 BuyWrite ETF | 11.63% | 11.12% | 9.36% | 3.35% | 1.33% | 6.21% | 1.41% | 5.04% | 2.59% | 10.86% | 2.56% | 6.19% |
Drawdowns
HIGH vs. PBP - Drawdown Comparison
The maximum HIGH drawdown since its inception was -9.50%, smaller than the maximum PBP drawdown of -43.43%. Use the drawdown chart below to compare losses from any high point for HIGH and PBP.
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Drawdown Indicators
| HIGH | PBP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.50% | -43.43% | +33.93% |
Max Drawdown (1Y)Largest decline over 1 year | -9.50% | -10.20% | +0.70% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.31% | — |
Current DrawdownCurrent decline from peak | -9.46% | -3.29% | -6.17% |
Average DrawdownAverage peak-to-trough decline | -2.07% | -6.75% | +4.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.71% | 1.79% | +3.92% |
Volatility
HIGH vs. PBP - Volatility Comparison
The current volatility for Simplify Enhanced Income ETF (HIGH) is 0.57%, while Invesco S&P 500 BuyWrite ETF (PBP) has a volatility of 4.09%. This indicates that HIGH experiences smaller price fluctuations and is considered to be less risky 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
| HIGH | PBP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 4.09% | -3.52% |
Volatility (6M)Calculated over the trailing 6-month period | 5.32% | 5.97% | -0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.32% | 14.26% | +2.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.75% | 11.95% | -2.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.75% | 13.69% | -3.94% |