SLTY vs. PBP
SLTY (YieldMax Ultra Short Option Income Strategy ETF) and PBP (Invesco S&P 500 BuyWrite ETF) are both Derivative Income funds. SLTY is actively managed, while PBP is passively managed. At a correlation of -0.46, they often move in opposite directions. SLTY charges 1.24%/yr vs 0.29%/yr for PBP.
Performance
SLTY vs. PBP - Performance Comparison
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Returns By Period
In the year-to-date period, SLTY achieves a -7.07% return, which is significantly lower than PBP's 4.10% return.
SLTY
- 1D
- -2.48%
- 1M
- -1.42%
- YTD
- -7.07%
- 6M
- -5.75%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PBP
- 1D
- -0.29%
- 1M
- -0.02%
- YTD
- 4.10%
- 6M
- 3.91%
- 1Y
- 15.38%
- 3Y*
- 11.53%
- 5Y*
- 7.58%
- 10Y*
- 7.15%
SLTY vs. PBP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SLTY YieldMax Ultra Short Option Income Strategy ETF | -7.07% | -12.61% |
PBP Invesco S&P 500 BuyWrite ETF | 4.10% | 9.20% |
Correlation
The correlation between SLTY and PBP is -0.46, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 21, 2025 | -0.46 |
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Return for Risk
SLTY vs. PBP — Risk / Return Rank
SLTY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PBP
SLTY vs. PBP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Short Option Income Strategy ETF (SLTY) 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.
| SLTY | PBP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.46 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.96 | — |
| Martin ratioReturn relative to average drawdown | — | 15.30 | — |
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Drawdowns
SLTY vs. PBP - Drawdown Comparison
The maximum SLTY drawdown since its inception was -21.27%, smaller than the maximum PBP drawdown of -43.43%. Use the drawdown chart below to compare losses from any high point for SLTY and PBP.
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Drawdown Indicators
| SLTY | PBP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.27% | -43.43% | +22.16% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.22% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.42% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.31% | — |
Current DrawdownCurrent decline from peak | -18.80% | -1.32% | -17.48% |
Average DrawdownAverage peak-to-trough decline | -14.35% | -6.67% | -7.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.01% | — |
Volatility
SLTY vs. PBP - Volatility Comparison
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Volatility by Period
| SLTY | PBP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.38% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 5.96% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 18.26% | 7.18% | +11.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.26% | 11.87% | +6.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.26% | 13.67% | +4.59% |
SLTY vs. PBP - Expense Ratio Comparison
SLTY has a 1.24% expense ratio, which is higher than PBP's 0.29% expense ratio.
Dividends
SLTY vs. PBP - Dividend Comparison
SLTY's dividend yield for the trailing twelve months is around 79.09%, more than PBP's 11.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBP Invesco S&P 500 BuyWrite ETF | 11.39% | 11.12% | 9.36% | 3.35% | 1.33% | 6.21% | 1.41% | 5.04% | 2.59% | 10.86% | 2.56% | 6.19% |
SLTY YieldMax Ultra Short Option Income Strategy ETF | 79.09% | 29.68% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SLTY and PBP have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBP is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBP is cheaper with a 0.29% expense ratio, compared with 1.24% for SLTY.
SLTY has the higher dividend yield at 79.09%, compared with 11.39% for PBP.
They also come from different issuers: YieldMax and Invesco. Their fees differ too: 1.24% for SLTY and 0.29% for PBP.
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