PAYH vs. PBP
PAYH (TrueShares S&P Autocallable High Income ETF) and PBP (Invesco S&P 500 BuyWrite ETF) are both Derivative Income funds. PAYH is actively managed, while PBP is passively managed. At a 0.33 correlation, their price movements are largely independent. PAYH charges 0.74%/yr vs 0.29%/yr for PBP.
Performance
PAYH vs. PBP - Performance Comparison
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Returns By Period
In the year-to-date period, PAYH achieves a 5.88% return, which is significantly higher than PBP's 4.10% return.
PAYH
- 1D
- -0.91%
- 1M
- -2.97%
- YTD
- 5.88%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PBP
- 1D
- -0.29%
- 1M
- -0.02%
- YTD
- 4.10%
- 6M
- 3.91%
- 1Y
- 15.38%
- 3Y*
- 11.53%
- 5Y*
- 7.58%
- 10Y*
- 7.15%
PAYH vs. PBP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PAYH TrueShares S&P Autocallable High Income ETF | 5.88% | -0.73% |
PBP Invesco S&P 500 BuyWrite ETF | 4.10% | -0.18% |
Correlation
The correlation between PAYH and PBP is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 30, 2025 | 0.33 |
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Return for Risk
PAYH vs. PBP — Risk / Return Rank
PAYH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PBP
PAYH vs. PBP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TrueShares S&P Autocallable High Income ETF (PAYH) 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.
| PAYH | PBP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.46 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.96 | — |
| Martin ratioReturn relative to average drawdown | — | 15.30 | — |
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Drawdowns
PAYH vs. PBP - Drawdown Comparison
The maximum PAYH drawdown since its inception was -16.33%, smaller than the maximum PBP drawdown of -43.43%. Use the drawdown chart below to compare losses from any high point for PAYH and PBP.
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Drawdown Indicators
| PAYH | PBP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.33% | -43.43% | +27.10% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.22% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.42% | — |
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 | -3.55% | -1.32% | -2.23% |
Average DrawdownAverage peak-to-trough decline | -2.71% | -6.67% | +3.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.01% | — |
Volatility
PAYH vs. PBP - Volatility Comparison
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Volatility by Period
| PAYH | PBP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.38% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 5.96% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 22.78% | 7.18% | +15.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.78% | 11.87% | +10.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.78% | 13.67% | +9.11% |
PAYH vs. PBP - Expense Ratio Comparison
PAYH has a 0.74% expense ratio, which is higher than PBP's 0.29% expense ratio.
Dividends
PAYH vs. PBP - Dividend Comparison
PAYH's dividend yield for the trailing twelve months is around 6.63%, less than PBP's 11.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAYH TrueShares S&P Autocallable High Income ETF | 6.63% | 0.00% | 0.00% | 0.00% | 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
PAYH and PBP have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBP is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBP is cheaper with a 0.29% expense ratio, compared with 0.74% for PAYH.
PBP has the higher dividend yield at 11.39%, compared with 6.63% for PAYH.
They also come from different issuers: TrueShares and Invesco. Their fees differ too: 0.74% for PAYH and 0.29% for PBP.
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