Correlation
The correlation between PBP and XYLD is 0.76, 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. XYLD
Compare and contrast key facts about Invesco S&P 500 BuyWrite ETF (PBP) and Global X S&P 500 Covered Call ETF (XYLD).
PBP and XYLD 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. XYLD is a passively managed fund by Global X that tracks the performance of the CBOE S&P 500 2% OTM BuyWrite Index. It was launched on Jun 24, 2013. Both PBP and XYLD 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 XYLD.
Performance
PBP vs. XYLD - Performance Comparison
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Key characteristics
PBP:
0.60
XYLD:
0.59
PBP:
0.88
XYLD:
0.88
PBP:
1.16
XYLD:
1.16
PBP:
0.54
XYLD:
0.53
PBP:
1.97
XYLD:
2.01
PBP:
4.23%
XYLD:
4.10%
PBP:
15.71%
XYLD:
15.37%
PBP:
-43.43%
XYLD:
-33.46%
PBP:
-8.16%
XYLD:
-7.30%
Returns By Period
In the year-to-date period, PBP achieves a -5.12% return, which is significantly lower than XYLD's -4.27% return. Over the past 10 years, PBP has underperformed XYLD with an annualized return of 5.47%, while XYLD has yielded a comparatively higher 6.42% annualized return.
PBP
-5.12%
-0.03%
-2.10%
9.34%
6.79%
9.13%
5.47%
XYLD
-4.27%
0.91%
-2.11%
9.04%
6.52%
9.28%
6.42%
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PBP vs. XYLD - Expense Ratio Comparison
PBP has a 0.49% expense ratio, which is lower than XYLD's 0.60% expense ratio.
Risk-Adjusted Performance
PBP vs. XYLD — Risk-Adjusted Performance Rank
PBP
XYLD
PBP vs. XYLD - 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 S&P 500 Covered Call ETF (XYLD). 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. XYLD - Dividend Comparison
PBP's dividend yield for the trailing twelve months is around 10.81%, less than XYLD's 13.34% 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% |
XYLD Global X S&P 500 Covered Call ETF | 13.34% | 11.54% | 10.51% | 13.43% | 9.07% | 7.93% | 5.75% | 7.12% | 5.18% | 3.23% | 4.65% | 4.15% |
Drawdowns
PBP vs. XYLD - Drawdown Comparison
The maximum PBP drawdown since its inception was -43.43%, which is greater than XYLD's maximum drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for PBP and XYLD.
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Volatility
PBP vs. XYLD - Volatility Comparison
Invesco S&P 500 BuyWrite ETF (PBP) and Global X S&P 500 Covered Call ETF (XYLD) have volatilities of 1.95% and 1.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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