Correlation
The correlation between PBP and SPY is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
PBP vs. SPY
Compare and contrast key facts about Invesco S&P 500 BuyWrite ETF (PBP) and SPDR S&P 500 ETF (SPY).
PBP and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both PBP and SPY 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 SPY.
Performance
PBP vs. SPY - Performance Comparison
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Key characteristics
PBP:
0.60
SPY:
0.70
PBP:
0.88
SPY:
1.02
PBP:
1.16
SPY:
1.15
PBP:
0.54
SPY:
0.68
PBP:
1.97
SPY:
2.57
PBP:
4.23%
SPY:
4.93%
PBP:
15.71%
SPY:
20.42%
PBP:
-43.43%
SPY:
-55.19%
PBP:
-8.16%
SPY:
-3.55%
Returns By Period
In the year-to-date period, PBP achieves a -5.12% return, which is significantly lower than SPY's 0.87% return. Over the past 10 years, PBP has underperformed SPY with an annualized return of 5.47%, while SPY has yielded a comparatively higher 12.73% annualized return.
PBP
-5.12%
-0.03%
-2.10%
9.34%
6.79%
9.13%
5.47%
SPY
0.87%
6.28%
-1.56%
14.21%
14.25%
15.81%
12.73%
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PBP vs. SPY - Expense Ratio Comparison
PBP has a 0.49% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
PBP vs. SPY — Risk-Adjusted Performance Rank
PBP
SPY
PBP vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 BuyWrite ETF (PBP) and SPDR S&P 500 ETF (SPY). 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.
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Dividends
PBP vs. SPY - Dividend Comparison
PBP's dividend yield for the trailing twelve months is around 10.81%, more than SPY's 1.22% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBP Invesco S&P 500 BuyWrite ETF | 10.81% | 10.22% | 3.35% | 1.33% | 6.21% | 1.41% | 5.55% | 2.59% | 10.86% | 2.56% | 5.21% | 4.96% |
SPY SPDR S&P 500 ETF | 1.22% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
PBP vs. SPY - Drawdown Comparison
The maximum PBP drawdown since its inception was -43.43%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PBP and SPY.
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Volatility
PBP vs. SPY - Volatility Comparison
The current volatility for Invesco S&P 500 BuyWrite ETF (PBP) is 1.95%, while SPDR S&P 500 ETF (SPY) has a volatility of 4.86%. This indicates that PBP experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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