PBP vs. JNK
Compare and contrast key facts about Invesco S&P 500 BuyWrite ETF (PBP) and SPDR Barclays High Yield Bond ETF (JNK).
PBP and JNK 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. JNK is a passively managed fund by State Street that tracks the performance of the Barclays Capital High Yield Very Liquid Index. It was launched on Nov 28, 2007. Both PBP and JNK are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PBP vs. JNK - Performance Comparison
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PBP vs. JNK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBP Invesco S&P 500 BuyWrite ETF | -1.04% | 8.49% | 19.83% | 11.59% | -11.82% | 19.97% | -3.31% | 14.60% | -5.57% | 11.98% |
JNK SPDR Barclays High Yield Bond ETF | -0.43% | 8.76% | 7.71% | 12.42% | -12.19% | 4.00% | 4.95% | 14.88% | -3.28% | 6.49% |
Returns By Period
In the year-to-date period, PBP achieves a -1.04% return, which is significantly lower than JNK's -0.43% return. Over the past 10 years, PBP has outperformed JNK with an annualized return of 6.70%, while JNK has yielded a comparatively lower 5.21% annualized 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%
JNK
- 1D
- 1.01%
- 1M
- -1.04%
- YTD
- -0.43%
- 6M
- 0.92%
- 1Y
- 7.30%
- 3Y*
- 7.95%
- 5Y*
- 3.50%
- 10Y*
- 5.21%
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PBP vs. JNK - Expense Ratio Comparison
PBP has a 0.29% expense ratio, which is lower than JNK's 0.40% expense ratio.
Return for Risk
PBP vs. JNK — Risk / Return Rank
PBP
JNK
PBP vs. JNK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 BuyWrite ETF (PBP) and SPDR Barclays High Yield Bond ETF (JNK). 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 | JNK | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.80 | 1.28 | -0.49 |
Sortino ratioReturn per unit of downside risk | 1.27 | 1.91 | -0.65 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.30 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.12 | 1.77 | -0.65 |
Martin ratioReturn relative to average drawdown | 6.40 | 9.12 | -2.72 |
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
| PBP | JNK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.80 | 1.28 | -0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.47 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.63 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.41 | -0.09 |
Correlation
The correlation between PBP and JNK is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PBP vs. JNK - Dividend Comparison
PBP's dividend yield for the trailing twelve months is around 11.63%, more than JNK's 6.66% 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% |
JNK SPDR Barclays High Yield Bond ETF | 6.66% | 6.54% | 6.63% | 6.38% | 6.06% | 4.27% | 5.11% | 5.44% | 5.90% | 5.60% | 6.06% | 6.59% |
Drawdowns
PBP vs. JNK - Drawdown Comparison
The maximum PBP drawdown since its inception was -43.43%, which is greater than JNK's maximum drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for PBP and JNK.
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Drawdown Indicators
| PBP | JNK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.43% | -38.48% | -4.95% |
Max Drawdown (1Y)Largest decline over 1 year | -10.20% | -4.17% | -6.03% |
Max Drawdown (5Y)Largest decline over 5 years | -18.61% | -16.67% | -1.94% |
Max Drawdown (10Y)Largest decline over 10 years | -33.31% | -22.89% | -10.42% |
Current DrawdownCurrent decline from peak | -3.29% | -1.41% | -1.88% |
Average DrawdownAverage peak-to-trough decline | -6.75% | -3.73% | -3.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 0.81% | +0.98% |
Volatility
PBP vs. JNK - Volatility Comparison
Invesco S&P 500 BuyWrite ETF (PBP) has a higher volatility of 4.09% compared to SPDR Barclays High Yield Bond ETF (JNK) at 2.25%. This indicates that PBP's price experiences larger fluctuations and is considered to be riskier than JNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBP | JNK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.09% | 2.25% | +1.84% |
Volatility (6M)Calculated over the trailing 6-month period | 5.97% | 2.94% | +3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.26% | 5.72% | +8.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.95% | 7.53% | +4.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.69% | 8.34% | +5.35% |