PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
QLDY vs. PBP
Performance
Return for Risk
Dividends
Drawdowns
Volatility

QLDY vs. PBP

Last updated Apr 2, 2026

Compare and contrast key facts about Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Invesco S&P 500 BuyWrite ETF (PBP).

QLDY and PBP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QLDY is an actively managed fund by Defiance. It was launched on Sep 17, 2025. 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.

Performance

QLDY vs. PBP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Invesco S&P 500 BuyWrite ETF (PBP). The values are adjusted to include any dividend payments, if applicable.

Loading graphics...

QLDY vs. PBP - Yearly Performance Comparison

2026 (YTD)2025
QLDY
Defiance Nasdaq 100 LightningSpread Income ETF		-9.50%1.50%
PBP
Invesco S&P 500 BuyWrite ETF		-0.63%7.26%

Returns By Period

In the year-to-date period, QLDY achieves a -9.50% return, which is significantly lower than PBP's -0.63% return.

QLDY

1D
1.52%
1M
-6.07%
YTD
-9.50%
6M
-9.60%
1Y
—
3Y*
—
5Y*
—
10Y*
—

PBP

1D
0.41%
1M
-2.60%
YTD
-0.63%
6M
5.67%
1Y
11.15%
3Y*
10.89%
5Y*
7.57%
10Y*
6.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Defiance Nasdaq 100 LightningSpread Income ETF

Invesco S&P 500 BuyWrite ETF

Often compared with QLDY:
QLDY vs. QQQQLDY vs. QQQYQLDY vs. TQQQQLDY vs. VOOQLDY vs. QQQQ.TOQLDY vs. SPMOQLDY vs. GPTY
Often compared with PBP:
PBP vs. SPYPBP vs. XYLDPBP vs. JEPIPBP vs. VOOPBP vs. JEPQPBP vs. SCHDPBP vs. FTHI

QLDY vs. PBP - Expense Ratio Comparison

QLDY has a 1.04% expense ratio, which is higher than PBP's 0.29% expense ratio.

QLDY
Defiance Nasdaq 100 LightningSpread Income ETF
PBP
Invesco S&P 500 BuyWrite ETF

Return for Risk

QLDY vs. PBP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QLDY
PBP
PBP Risk / Return Rank: 5050
Overall Rank
PBP Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
PBP Sortino Ratio Rank: 4343
Sortino Ratio Rank
PBP Omega Ratio Rank: 6464
Omega Ratio Rank
PBP Calmar Ratio Rank: 4242
Calmar Ratio Rank
PBP Martin Ratio Rank: 6262
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QLDY vs. PBP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Nasdaq 100 LightningSpread Income ETF (QLDY) and Invesco S&P 500 BuyWrite ETF (PBP). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

QLDY vs. PBP - Sharpe Ratio Comparison

Loading graphics...

Sharpe Ratios by Period

QLDYPBPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

0.79

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.64

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.49

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.75

0.33

-1.08

Correlation

The correlation between QLDY and PBP 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

QLDY vs. PBP - Dividend Comparison

QLDY's dividend yield for the trailing twelve months is around 19.76%, more than PBP's 11.58% yield.

TTM20252024202320222021202020192018201720162015
QLDY
Defiance Nasdaq 100 LightningSpread Income ETF		19.76%9.34%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PBP
Invesco S&P 500 BuyWrite ETF		11.58%11.12%9.36%3.35%1.33%6.21%1.41%5.04%2.59%10.86%2.56%6.19%

Drawdowns

QLDY vs. PBP - Drawdown Comparison

The maximum QLDY drawdown since its inception was -17.44%, smaller than the maximum PBP drawdown of -43.43%. Use the drawdown chart below to compare losses from any high point for QLDY and PBP.

Loading graphics...

Drawdown Indicators

QLDYPBPDifference

Max Drawdown

Largest peak-to-trough decline

-17.44%

-43.43%

+25.99%

Max Drawdown (1Y)

Largest decline over 1 year

—

-10.20%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-18.61%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.31%

—

Current Drawdown

Current decline from peak

-13.33%

-2.89%

-10.44%

Average Drawdown

Average peak-to-trough decline

-4.81%

-6.75%

+1.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

1.80%

—

Volatility

QLDY vs. PBP - Volatility Comparison

Loading graphics...

Volatility by Period

QLDYPBPDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

4.10%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

5.98%

—

Volatility (1Y)

Calculated over the trailing 1-year period

19.69%

14.26%

+5.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.69%

11.95%

+7.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.69%

13.68%

+6.01%