PBP vs. COSW

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco S&P 500 BuyWrite ETF (PBP) and Roundhill COST WeeklyPay ETF (COSW).

PBP and COSW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. COSW is an actively managed fund by Roundhill. It was launched on Oct 23, 2025.

Performance

PBP vs. COSW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 BuyWrite ETF (PBP) and Roundhill COST WeeklyPay ETF (COSW). The values are adjusted to include any dividend payments, if applicable.

PBP vs. COSW - Yearly Performance Comparison

	2026 (YTD)	2025
PBP Invesco S&P 500 BuyWrite ETF	-1.04%	4.71%
COSW Roundhill COST WeeklyPay ETF	17.20%	-10.71%

Returns By Period

In the year-to-date period, PBP achieves a -1.04% return, which is significantly lower than COSW's 17.20% return.

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%

COSW

• 1D: -0.54%
• 1M: -2.62%
• YTD: 17.20%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PBP vs. COSW - Expense Ratio Comparison

PBP has a 0.29% expense ratio, which is lower than COSW's 0.99% expense ratio.

COSW

Roundhill COST WeeklyPay ETF

PBP

Invesco S&P 500 BuyWrite ETF

Return for Risk

PBP vs. COSW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PBP

PBP Risk / Return Rank: 56
PBP Sharpe Ratio Rank: 46
PBP Sortino Ratio Rank: 49
PBP Omega Ratio Rank: 69
PBP Calmar Ratio Rank: 47
PBP Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PBP vs. COSW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 BuyWrite ETF (PBP) and Roundhill COST WeeklyPay ETF (COSW). 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.

	PBP	COSW	Difference
Sharpe ratio Return per unit of total volatility	0.80	—	—
Sortino ratio Return per unit of downside risk	1.27	—	—
Omega ratio Gain probability vs. loss probability	1.25	—	—
Calmar ratio Return relative to maximum drawdown	1.12	—	—
Martin ratio Return relative to average drawdown	6.40	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PBP	COSW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	—	—
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	0.44	-0.12

Correlation

The correlation between PBP and COSW is -0.01. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

PBP vs. COSW - Dividend Comparison

PBP's dividend yield for the trailing twelve months is around 11.63%, less than COSW's 12.26% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
COSW Roundhill COST WeeklyPay ETF	12.26%	4.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PBP vs. COSW - Drawdown Comparison

The maximum PBP drawdown since its inception was -43.43%, which is greater than COSW's maximum drawdown of -12.17%. Use the drawdown chart below to compare losses from any high point for PBP and COSW.

Drawdown Indicators

	PBP	COSW	Difference
Max Drawdown Largest peak-to-trough decline	-43.43%	-12.17%	-31.26%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	—	—
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	-3.29%	-3.28%	-0.01%
Average Drawdown Average peak-to-trough decline	-6.75%	-4.05%	-2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	—	—

Volatility

Volatility by Period

	PBP	COSW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.97%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.26%	25.36%	-11.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.95%	25.36%	-13.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.69%	25.36%	-11.67%