RDVI vs. PBP

Last updated Aug 5, 2026

RDVI (FT Vest Rising Dividend Achievers Target Income ETF) and PBP (Invesco S&P 500 BuyWrite ETF) are both Derivative Income funds - RDVI tracks the NASDAQ US Rising Dividend Achievers while PBP tracks the Cboe S&P 500 BuyWrite Index. Both are passively managed. Over the past 3 years, RDVI returned 19.56%/yr vs 12.58%/yr for PBP. Their 0.59 correlation means they have sometimes moved together and sometimes differently. RDVI charges 0.75%/yr vs 0.29%/yr for PBP.

Performance

RDVI vs. PBP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Rising Dividend Achievers Target Income ETF (RDVI) and Invesco S&P 500 BuyWrite ETF (PBP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RDVI achieves a 19.32% return, which is significantly higher than PBP's 8.69% return.

RDVI

• 1D: 1.36%
• 1M: 3.24%
• 6M: 14.75%
• YTD: 19.32%
• 1Y: 30.66%
• 3Y*: 19.56%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.18%

PBP

• 1D: 0.09%
• 1M: 2.54%
• 6M: 7.54%
• YTD: 8.69%
• 1Y: 18.68%
• 3Y*: 12.58%
• 5Y*: 8.26%
• 10Y*: 7.28%
• ALL TIME*: 5.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PBP Invesco S&P 500 BuyWrite ETF	$1.01M	$1.10M	$947.56K
RDVI FT Vest Rising Dividend Achievers Target Income ETF	$26.62M	$24.09M	$18.88M

RDVI vs. PBP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
RDVI FT Vest Rising Dividend Achievers Target Income ETF	19.32%	17.93%	14.56%	18.63%	8.29%
PBP Invesco S&P 500 BuyWrite ETF	8.69%	8.49%	19.83%	11.59%	2.98%

Correlation

The correlation between RDVI and PBP is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.57
Correlation (All Time) Calculated using the full available price history since Oct 20, 2022	0.59

The correlation between RDVI and PBP has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.

RDVI vs. PBP - Sectors Allocation Comparison

Sectors	RDVI	PBP
Financial Services	38.9%	12.2%
Technology	19.4%	38.5%
Industrials	12.5%	7.7%
Consumer Cyclical	11.1%	8.8%
Healthcare	5.6%	9.1%
Communication Services	4.2%	9.3%
Consumer Defensive	2.8%	4.6%
Energy	2.8%	3.4%
Utilities	1.4%	2.7%
Basic Materials	-	1.8%
Real Estate	-	1.9%

Return for Risk

RDVI vs. PBP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RDVI

RDVI Risk / Return Rank: 86
RDVI Sharpe Ratio Rank: 86
RDVI Sortino Ratio Rank: 86
RDVI Omega Ratio Rank: 82
RDVI Calmar Ratio Rank: 85
RDVI Martin Ratio Rank: 89

PBP

PBP Risk / Return Rank: 92
PBP Sharpe Ratio Rank: 92
PBP Sortino Ratio Rank: 93
PBP Omega Ratio Rank: 94
PBP Calmar Ratio Rank: 85
PBP Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RDVI vs. PBP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Rising Dividend Achievers Target Income ETF (RDVI) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	RDVI	PBP	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.58	-0.37
Sortino ratio: Return per unit of downside risk	3.16	3.72	-0.56
Omega ratio: Gain probability vs. loss probability	1.38	1.55	-0.16
Calmar ratio: Return relative to maximum drawdown	3.63	3.59	+0.04
Martin ratio: Return relative to average drawdown	15.23	18.47	-3.24

RDVI vs. PBP - Sharpe Ratio Comparison

The current RDVI Sharpe Ratio is 2.21, which is comparable to the PBP Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of RDVI and PBP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RDVI vs. PBP - Drawdown Comparison

The maximum RDVI drawdown since its inception was -18.35%, smaller than the maximum PBP drawdown of -43.43%. Use the drawdown chart below to compare losses from any high point for RDVI and PBP.

Drawdown Indicators

	RDVI	PBP	Difference
Max Drawdown Largest peak-to-trough decline	-18.35%	-43.43%	+25.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-5.22%	-3.26%
Max Drawdown (3Y) Largest decline over 3 years	-18.35%	-15.42%	-2.93%
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.07%	-6.64%	+3.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	1.01%	+1.01%

Volatility

RDVI vs. PBP - Volatility Comparison

FT Vest Rising Dividend Achievers Target Income ETF (RDVI) has a higher volatility of 3.65% compared to Invesco S&P 500 BuyWrite ETF (PBP) at 2.20%. This indicates that RDVI's price experiences larger fluctuations and is considered to be riskier than PBP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RDVI	PBP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	2.20%	+1.45%
Volatility (6M) Calculated over the trailing 6-month period	10.92%	6.13%	+4.79%
Volatility (1Y) Calculated over the trailing 1-year period	13.99%	7.37%	+6.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.83%	11.86%	+4.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.83%	13.67%	+3.16%

RDVI vs. PBP - Expense Ratio Comparison

RDVI has a 0.75% expense ratio, which is higher than PBP's 0.29% expense ratio.

Dividends

RDVI vs. PBP - Dividend Comparison

RDVI's dividend yield for the trailing twelve months is around 7.58%, less than PBP's 11.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBP Invesco S&P 500 BuyWrite ETF	11.30%	11.12%	9.36%	3.35%	1.33%	6.21%	1.41%	5.04%	2.59%	10.86%	2.56%	6.19%
RDVI FT Vest Rising Dividend Achievers Target Income ETF	7.58%	8.10%	8.62%	8.45%	1.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RDVI and PBP in my portfolio?

RDVI and PBP have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RDVI or PBP?

RDVI has higher volatility (3.65%) compared to PBP (2.20%). In terms of maximum drawdown, RDVI dropped -18.35% vs PBP's -43.43%.

Which ETF is better, RDVI or PBP?

On 3-year performance, RDVI leads with 19.56% vs 12.58% for PBP. On fees, PBP is cheaper at 0.29% per year. On volatility, PBP has been the lower-risk option at 2.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RDVI or PBP?

Over the 3-year period, RDVI has performed better with a 19.56% return vs 12.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RDVI or PBP?

PBP is cheaper with a 0.29% expense ratio, compared with 0.75% for RDVI.

Which ETF pays a higher dividend yield, RDVI or PBP?

PBP has the higher dividend yield at 11.30%, compared with 7.58% for RDVI.

What is the main difference between RDVI and PBP?

RDVI tracks NASDAQ US Rising Dividend Achievers, while PBP tracks Cboe S&P 500 BuyWrite Index. They also come from different issuers: FT Vest and Invesco. Their fees differ too: 0.75% for RDVI and 0.29% for PBP.

Which has better risk-adjusted returns?

PBP currently has the higher Sharpe Ratio (2.58 vs 2.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.