PBP vs. LQTI

Last updated Jun 24, 2026

PBP (Invesco S&P 500 BuyWrite ETF) and LQTI (FT Vest Investment Grade & Target Income ETF) are both Derivative Income funds. PBP is passively managed, while LQTI is actively managed. Over the past year, PBP returned 16.57% vs 4.91% for LQTI. At a 0.22 correlation, their price movements are largely independent. PBP charges 0.29%/yr vs 0.65%/yr for LQTI.

Performance

PBP vs. LQTI - Performance Comparison

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

Returns By Period

In the year-to-date period, PBP achieves a 4.40% return, which is significantly higher than LQTI's 0.47% 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%

LQTI

• 1D: 0.16%
• 1M: 0.54%
• YTD: 0.47%
• 6M: 1.08%
• 1Y: 4.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PBP vs. LQTI - Yearly Performance Comparison

	2026 (YTD)	2025
PBP Invesco S&P 500 BuyWrite ETF	4.40%	5.59%
LQTI FT Vest Investment Grade & Target Income ETF	0.47%	6.59%

Correlation

The correlation between PBP and LQTI is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.22

Return for Risk

PBP vs. LQTI — Risk / Return Rank

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

PBP

PBP Risk / Return Rank: 79
PBP Sharpe Ratio Rank: 77
PBP Sortino Ratio Rank: 80
PBP Omega Ratio Rank: 86
PBP Calmar Ratio Rank: 67
PBP Martin Ratio Rank: 84

LQTI

LQTI Risk / Return Rank: 29
LQTI Sharpe Ratio Rank: 28
LQTI Sortino Ratio Rank: 27
LQTI Omega Ratio Rank: 25
LQTI Calmar Ratio Rank: 31
LQTI Martin Ratio Rank: 32

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. LQTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 BuyWrite ETF (PBP) and FT Vest Investment Grade & Target Income ETF (LQTI). 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.

	PBP	LQTI	Difference
Sharpe ratio: Return per unit of total volatility	2.32	0.97	+1.35
Sortino ratio: Return per unit of downside risk	3.36	1.41	+1.94
Omega ratio: Gain probability vs. loss probability	1.50	1.17	+0.33
Calmar ratio: Return relative to maximum drawdown	3.19	1.45	+1.74
Martin ratio: Return relative to average drawdown	16.54	4.30	+12.25

PBP vs. LQTI - Sharpe Ratio Comparison

The current PBP Sharpe Ratio is 2.32, which is higher than the LQTI Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of PBP and LQTI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PBP vs. LQTI - Drawdown Comparison

The maximum PBP drawdown since its inception was -43.43%, which is greater than LQTI's maximum drawdown of -3.41%. Use the drawdown chart below to compare losses from any high point for PBP and LQTI.

Drawdown Indicators

	PBP	LQTI	Difference
Max Drawdown Largest peak-to-trough decline	-43.43%	-3.41%	-40.02%
Max Drawdown (1Y) Largest decline over 1 year	-5.22%	-3.41%	-1.81%
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 Drawdown Current decline from peak	-1.03%	-1.13%	+0.10%
Average Drawdown Average peak-to-trough decline	-6.68%	-0.90%	-5.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	1.15%	-0.15%

Volatility

PBP vs. LQTI - Volatility Comparison

Invesco S&P 500 BuyWrite ETF (PBP) has a higher volatility of 2.37% compared to FT Vest Investment Grade & Target Income ETF (LQTI) at 1.54%. This indicates that PBP's price experiences larger fluctuations and is considered to be riskier than LQTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBP	LQTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	1.54%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	4.13%	+1.84%
Volatility (1Y) Calculated over the trailing 1-year period	7.17%	5.11%	+2.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.88%	5.94%	+5.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.67%	5.94%	+7.73%

PBP vs. LQTI - Expense Ratio Comparison

PBP has a 0.29% expense ratio, which is lower than LQTI's 0.65% expense ratio.

Dividends

PBP vs. LQTI - Dividend Comparison

PBP's dividend yield for the trailing twelve months is around 11.36%, more than LQTI's 9.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LQTI FT Vest Investment Grade & Target Income ETF	9.08%	7.01%	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	11.36%	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

Can I hold both PBP and LQTI in my portfolio?

PBP and LQTI have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBP or LQTI?

PBP has higher volatility (2.37%) compared to LQTI (1.54%). In terms of maximum drawdown, PBP dropped -43.43% vs LQTI's -3.41%.

Which ETF is better, PBP or LQTI?

On 1-year performance, PBP leads with 16.57% vs 4.91% for LQTI. On fees, PBP is cheaper at 0.29% per year. On volatility, LQTI has been the lower-risk option at 1.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBP or LQTI?

Over the 1-year period, PBP has performed better with a 16.57% return vs 4.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBP or LQTI?

PBP is cheaper with a 0.29% expense ratio, compared with 0.65% for LQTI.

Which ETF pays a higher dividend yield, PBP or LQTI?

PBP has the higher dividend yield at 11.36%, compared with 9.08% for LQTI.

What is the main difference between PBP and LQTI?

They also come from different issuers: Invesco and FT Vest. Their fees differ too: 0.29% for PBP and 0.65% for LQTI.

Which has better risk-adjusted returns?

PBP currently has the higher Sharpe Ratio (2.32 vs 0.97), 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.