PBP vs. QYLD
Compare and contrast key facts about Invesco S&P 500 BuyWrite ETF (PBP) and Global X NASDAQ 100 Covered Call ETF (QYLD).
PBP and QYLD 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. QYLD is a passively managed fund by Global X that tracks the performance of the CBOE NASDAQ-100 Buy Write V2. It was launched on Dec 12, 2013. Both PBP and QYLD 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. QYLD - Performance Comparison
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PBP vs. QYLD - 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% |
QYLD Global X NASDAQ 100 Covered Call ETF | 0.02% | 9.28% | 19.35% | 22.77% | -19.08% | 10.41% | 8.72% | 22.69% | -3.07% | 18.79% |
Returns By Period
In the year-to-date period, PBP achieves a -1.04% return, which is significantly lower than QYLD's 0.02% return. Over the past 10 years, PBP has underperformed QYLD with an annualized return of 6.70%, while QYLD has yielded a comparatively higher 8.89% 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%
QYLD
- 1D
- 2.69%
- 1M
- -1.52%
- YTD
- 0.02%
- 6M
- 7.09%
- 1Y
- 16.31%
- 3Y*
- 12.97%
- 5Y*
- 6.88%
- 10Y*
- 8.89%
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PBP vs. QYLD - Expense Ratio Comparison
PBP has a 0.29% expense ratio, which is lower than QYLD's 0.60% expense ratio.
Return for Risk
PBP vs. QYLD — Risk / Return Rank
PBP
QYLD
PBP vs. QYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 BuyWrite ETF (PBP) and Global X NASDAQ 100 Covered Call ETF (QYLD). 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 | QYLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.80 | 1.00 | -0.20 |
Sortino ratioReturn per unit of downside risk | 1.27 | 1.61 | -0.34 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.31 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.12 | 1.51 | -0.39 |
Martin ratioReturn relative to average drawdown | 6.40 | 9.98 | -3.58 |
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 | QYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.80 | 1.00 | -0.20 |
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 | 0.58 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.55 | -0.23 |
Correlation
The correlation between PBP and QYLD is 0.70, 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. QYLD - Dividend Comparison
PBP's dividend yield for the trailing twelve months is around 11.63%, less than QYLD's 11.92% 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% |
QYLD Global X NASDAQ 100 Covered Call ETF | 11.92% | 11.55% | 12.50% | 11.78% | 13.75% | 12.85% | 11.16% | 9.84% | 12.44% | 7.69% | 9.15% | 9.42% |
Drawdowns
PBP vs. QYLD - Drawdown Comparison
The maximum PBP drawdown since its inception was -43.43%, which is greater than QYLD's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for PBP and QYLD.
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Drawdown Indicators
| PBP | QYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.43% | -24.75% | -18.68% |
Max Drawdown (1Y)Largest decline over 1 year | -10.20% | -10.84% | +0.64% |
Max Drawdown (5Y)Largest decline over 5 years | -18.61% | -24.61% | +6.00% |
Max Drawdown (10Y)Largest decline over 10 years | -33.31% | -24.75% | -8.56% |
Current DrawdownCurrent decline from peak | -3.29% | -2.41% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -6.75% | -3.89% | -2.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 1.64% | +0.15% |
Volatility
PBP vs. QYLD - Volatility Comparison
The current volatility for Invesco S&P 500 BuyWrite ETF (PBP) is 4.09%, while Global X NASDAQ 100 Covered Call ETF (QYLD) has a volatility of 4.90%. This indicates that PBP experiences smaller price fluctuations and is considered to be less risky than QYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBP | QYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.09% | 4.90% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 5.97% | 7.48% | -1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.26% | 16.42% | -2.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.95% | 14.84% | -2.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.69% | 15.51% | -1.82% |