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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PBP or QYLD.
Key characteristics
| PBP | QYLD | |
|---|---|---|
| YTD Return | 13.88% | 15.96% |
| 1Y Return | 19.82% | 23.38% |
| 3Y Return (Ann) | 4.58% | 4.84% |
| 5Y Return (Ann) | 5.78% | 7.36% |
| 10Y Return (Ann) | 5.91% | 8.28% |
| Sharpe Ratio | 2.81 | 2.42 |
| Sortino Ratio | 3.84 | 3.30 |
| Omega Ratio | 1.65 | 1.60 |
| Calmar Ratio | 2.56 | 3.08 |
| Martin Ratio | 23.23 | 17.05 |
| Ulcer Index | 0.87% | 1.40% |
| Daily Std Dev | 7.18% | 9.89% |
| Max Drawdown | -43.43% | -24.89% |
| Current Drawdown | -0.40% | -0.27% |
Correlation
The correlation between PBP and QYLD is 0.68, 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.
Performance
PBP vs. QYLD - Performance Comparison
In the year-to-date period, PBP achieves a 13.88% return, which is significantly lower than QYLD's 15.96% return. Over the past 10 years, PBP has underperformed QYLD with an annualized return of 5.91%, while QYLD has yielded a comparatively higher 8.28% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PBP vs. QYLD - Expense Ratio Comparison
PBP has a 0.49% expense ratio, which is lower than QYLD's 0.60% expense ratio.
Risk-Adjusted Performance
PBP vs. QYLD - Risk-Adjusted Performance 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.
Dividends
PBP vs. QYLD - Dividend Comparison
PBP's dividend yield for the trailing twelve months is around 9.47%, less than QYLD's 11.45% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBP Invesco S&P 500 BuyWrite ETF | 9.47% | 3.35% | 1.33% | 6.21% | 1.41% | 5.55% | 2.59% | 10.86% | 2.56% | 5.21% | 4.96% | 6.62% |
QYLD Global X NASDAQ 100 Covered Call ETF | 11.45% | 11.78% | 13.26% | 12.85% | 11.16% | 9.84% | 12.44% | 7.69% | 9.15% | 9.42% | 10.74% | 0.00% |
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 -24.89%. Use the drawdown chart below to compare losses from any high point for PBP and QYLD. For additional features, visit the drawdowns tool.
Volatility
PBP vs. QYLD - Volatility Comparison
The current volatility for Invesco S&P 500 BuyWrite ETF (PBP) is 1.23%, while Global X NASDAQ 100 Covered Call ETF (QYLD) has a volatility of 1.65%. 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.