PBP vs. VOO
Compare and contrast key facts about Invesco S&P 500 BuyWrite ETF (PBP) and Vanguard S&P 500 ETF (VOO).
PBP and VOO 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. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010. Both PBP and VOO 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. VOO - Performance Comparison
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PBP vs. VOO - 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% |
VOO Vanguard S&P 500 ETF | -4.42% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Returns By Period
In the year-to-date period, PBP achieves a -1.04% return, which is significantly higher than VOO's -4.42% return. Over the past 10 years, PBP has underperformed VOO with an annualized return of 6.70%, while VOO has yielded a comparatively higher 14.05% 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%
VOO
- 1D
- 2.86%
- 1M
- -5.01%
- YTD
- -4.42%
- 6M
- -1.84%
- 1Y
- 17.67%
- 3Y*
- 18.27%
- 5Y*
- 11.75%
- 10Y*
- 14.05%
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PBP vs. VOO - Expense Ratio Comparison
PBP has a 0.29% expense ratio, which is higher than VOO's 0.03% expense ratio.
Return for Risk
PBP vs. VOO — Risk / Return Rank
PBP
VOO
PBP vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 BuyWrite ETF (PBP) and Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.80 | 0.98 | -0.19 |
Sortino ratioReturn per unit of downside risk | 1.27 | 1.50 | -0.23 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.23 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.12 | 1.53 | -0.41 |
Martin ratioReturn relative to average drawdown | 6.40 | 7.29 | -0.89 |
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 | VOO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.80 | 0.98 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.70 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.78 | -0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.83 | -0.51 |
Correlation
The correlation between PBP and VOO 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.
Dividends
PBP vs. VOO - Dividend Comparison
PBP's dividend yield for the trailing twelve months is around 11.63%, more than VOO's 1.19% 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% |
VOO Vanguard S&P 500 ETF | 1.19% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Drawdowns
PBP vs. VOO - Drawdown Comparison
The maximum PBP drawdown since its inception was -43.43%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for PBP and VOO.
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Drawdown Indicators
| PBP | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.43% | -33.99% | -9.44% |
Max Drawdown (1Y)Largest decline over 1 year | -10.20% | -11.98% | +1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -18.61% | -24.52% | +5.91% |
Max Drawdown (10Y)Largest decline over 10 years | -33.31% | -33.99% | +0.68% |
Current DrawdownCurrent decline from peak | -3.29% | -6.29% | +3.00% |
Average DrawdownAverage peak-to-trough decline | -6.75% | -3.72% | -3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 2.52% | -0.73% |
Volatility
PBP vs. VOO - Volatility Comparison
The current volatility for Invesco S&P 500 BuyWrite ETF (PBP) is 4.09%, while Vanguard S&P 500 ETF (VOO) has a volatility of 5.29%. This indicates that PBP experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBP | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.09% | 5.29% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 5.97% | 9.44% | -3.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.26% | 18.10% | -3.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.95% | 16.82% | -4.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.69% | 17.99% | -4.30% |