SQY vs. PBP

Last updated Jun 25, 2026

SQY (YieldMax SQ Option Income Strategy ETF) and PBP (Invesco S&P 500 BuyWrite ETF) are both Derivative Income funds. SQY is actively managed, while PBP is passively managed. SQY charges 1.01%/yr vs 0.29%/yr for PBP.

Performance

SQY vs. PBP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax SQ Option Income Strategy ETF (SQY) and Invesco S&P 500 BuyWrite ETF (PBP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SQY

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 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%

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

Return for Risk

SQY vs. PBP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SQY

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

PBP

PBP Risk / Return Rank: 78
PBP Sharpe Ratio Rank: 76
PBP Sortino Ratio Rank: 79
PBP Omega Ratio Rank: 86
PBP Calmar Ratio Rank: 67
PBP Martin Ratio Rank: 84

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.

SQY vs. PBP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax SQ Option Income Strategy ETF (SQY) 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.

	SQY	PBP	Difference
Sharpe ratio: Return per unit of total volatility	—	2.16	—
Sortino ratio: Return per unit of downside risk	—	3.13	—
Omega ratio: Gain probability vs. loss probability	—	1.46	—
Calmar ratio: Return relative to maximum drawdown	—	2.96	—
Martin ratio: Return relative to average drawdown	—	15.30	—

Drawdowns

Drawdown Indicators

	SQY	PBP	Difference
Max Drawdown Largest peak-to-trough decline	—	-43.43%	—
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 Drawdown Current decline from peak	—	-1.32%	—
Average Drawdown Average peak-to-trough decline	—	-6.67%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.01%	—

Volatility

Volatility by Period

	SQY	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	—	7.18%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	11.87%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	13.67%	—

SQY vs. PBP - Expense Ratio Comparison

SQY has a 1.01% expense ratio, which is higher than PBP's 0.29% expense ratio.

Dividends

SQY vs. PBP - Dividend Comparison

SQY has not paid dividends to shareholders, while PBP's dividend yield for the trailing twelve months is around 11.39%.

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%
SQY YieldMax SQ Option Income Strategy ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, SQY or PBP?

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.

Which ETF is cheaper, SQY or PBP?

PBP is cheaper with a 0.29% expense ratio, compared with 1.01% for SQY.

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

PBP has the higher dividend yield at 11.39%, compared with 0.00% for SQY.

What is the main difference between SQY and PBP?

They also come from different issuers: YieldMax and Invesco. Their fees differ too: 1.01% for SQY and 0.29% for PBP.