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PBP vs. FTHI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

PBP vs. FTHI - Performance Comparison

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

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Returns By Period

In the year-to-date period, PBP achieves a 4.40% return, which is significantly lower than FTHI's 4.88% return. Over the past 10 years, PBP has underperformed FTHI with an annualized return of 7.18%, while FTHI has yielded a comparatively higher 8.66% annualized return.


PBP

1D
-0.63%
1M
0.27%
YTD
4.40%
6M
4.40%
1Y
16.57%
3Y*
11.64%
5Y*
7.58%
10Y*
7.18%

FTHI

1D
-0.71%
1M
-0.04%
YTD
4.88%
6M
4.13%
1Y
15.40%
3Y*
14.28%
5Y*
10.33%
10Y*
8.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PBP vs. FTHI - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
PBP
Invesco S&P 500 BuyWrite ETF
4.40%8.49%19.83%11.59%-11.82%19.97%-3.31%14.60%-5.57%11.98%
FTHI
First Trust BuyWrite Income ETF
4.88%11.03%19.02%20.72%-4.37%13.95%-7.13%18.16%-9.72%14.41%

Correlation

The correlation between PBP and FTHI is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.71

Correlation (3Y)
Calculated over the trailing 3-year period

0.74

Correlation (5Y)
Calculated over the trailing 5-year period

0.73

Correlation (10Y)
Calculated over the trailing 10-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Jan 7, 2014

0.59

The correlation between PBP and FTHI shifts across timeframes, from 0.59 (all time) to 0.74 (3 years), reflecting how their relationship changes across market environments.

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Return for Risk

PBP vs. FTHI — Risk / Return Rank

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

PBP
PBP Risk / Return Rank: 7979
Overall Rank
PBP Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
PBP Sortino Ratio Rank: 8080
Sortino Ratio Rank
PBP Omega Ratio Rank: 8686
Omega Ratio Rank
PBP Calmar Ratio Rank: 6767
Calmar Ratio Rank
PBP Martin Ratio Rank: 8484
Martin Ratio Rank

FTHI
FTHI Risk / Return Rank: 5757
Overall Rank
FTHI Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
FTHI Sortino Ratio Rank: 5353
Sortino Ratio Rank
FTHI Omega Ratio Rank: 5454
Omega Ratio Rank
FTHI Calmar Ratio Rank: 6060
Calmar Ratio Rank
FTHI Martin Ratio Rank: 6969
Martin Ratio Rank
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. FTHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 BuyWrite ETF (PBP) and First Trust BuyWrite Income ETF (FTHI). 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.


PBPFTHIDifference
Sharpe ratioReturn per unit of total volatility

+0.61

Sortino ratioReturn per unit of downside risk

+0.90

Omega ratioGain probability vs. loss probability

1.50

1.32

+0.18

Calmar ratioReturn relative to maximum drawdown

3.19

2.83

+0.36

Martin ratioReturn relative to average drawdown

16.54

12.09

+4.45

PBP vs. FTHI - Sharpe Ratio Comparison

The current PBP Sharpe Ratio is 2.32, which is higher than the FTHI Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of PBP and FTHI, 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

PBP vs. FTHI - Drawdown Comparison

The maximum PBP drawdown since its inception was -43.43%, which is greater than FTHI's maximum drawdown of -32.65%. Use the drawdown chart below to compare losses from any high point for PBP and FTHI.


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Drawdown Indicators


PBPFTHIDifference

Max Drawdown

Largest peak-to-trough decline

-43.43%

-32.65%

-10.78%

Max Drawdown (1Y)

Largest decline over 1 year

-5.22%

-5.47%

+0.25%

Max Drawdown (3Y)

Largest decline over 3 years

-15.42%

-15.92%

+0.50%

Max Drawdown (5Y)

Largest decline over 5 years

-18.61%

-16.70%

-1.91%

Max Drawdown (10Y)

Largest decline over 10 years

-33.31%

-32.65%

-0.66%

Current Drawdown

Current decline from peak

-1.03%

-0.71%

-0.32%

Average Drawdown

Average peak-to-trough decline

-6.68%

-3.67%

-3.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.00%

1.28%

-0.28%

Volatility

PBP vs. FTHI - Volatility Comparison

The current volatility for Invesco S&P 500 BuyWrite ETF (PBP) is 2.37%, while First Trust BuyWrite Income ETF (FTHI) has a volatility of 2.70%. This indicates that PBP experiences smaller price fluctuations and is considered to be less risky than FTHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


PBPFTHIDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.37%

2.70%

-0.33%

Volatility (6M)

Calculated over the trailing 6-month period

5.97%

7.32%

-1.35%

Volatility (1Y)

Calculated over the trailing 1-year period

7.17%

9.08%

-1.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.88%

13.43%

-1.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.67%

14.29%

-0.62%

PBP vs. FTHI - Expense Ratio Comparison

PBP has a 0.29% expense ratio, which is lower than FTHI's 0.85% expense ratio.


Dividends

PBP vs. FTHI - Dividend Comparison

PBP's dividend yield for the trailing twelve months is around 11.36%, more than FTHI's 8.72% yield.


PositionTTM20252024202320222021202020192018201720162015
FTHI
First Trust BuyWrite Income ETF
8.72%8.70%8.61%8.50%9.06%4.37%4.76%4.21%4.76%4.00%4.41%4.98%
PBP
Invesco S&P 500 BuyWrite ETF
11.36%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


PBP and FTHI have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FTHI has higher volatility (2.70%) compared to PBP (2.37%). In terms of maximum drawdown, PBP dropped -43.43% vs FTHI's -32.65%.

On 10-year performance, FTHI leads with 8.66% vs 7.18% for PBP. On fees, PBP is cheaper at 0.29% per year. On volatility, PBP has been the lower-risk option at 2.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FTHI has performed better with a 8.66% return vs 7.18%. 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 0.85% for FTHI.

PBP has the higher dividend yield at 11.36%, compared with 8.72% for FTHI.

They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.29% for PBP and 0.85% for FTHI.

PBP currently has the higher Sharpe Ratio (2.32 vs 1.71), 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.

Portfolio Optimizer

Find the right allocation for PBP and FTHI

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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