YLDE vs. PBP
YLDE (ClearBridge Dividend Strategy ESG ETF) and PBP (Invesco S&P 500 BuyWrite ETF) are both exchange-traded funds - YLDE is a Dividend fund actively managed by Franklin Templeton, while PBP is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. YLDE is actively managed, while PBP is passively managed. Over the past 5 years, YLDE returned 9.54%/yr vs 8.10%/yr for PBP. At a 0.49 correlation, their price movements are largely independent. YLDE charges 0.60%/yr vs 0.29%/yr for PBP.
Performance
YLDE vs. PBP - Performance Comparison
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Returns By Period
In the year-to-date period, YLDE achieves a 4.09% return, which is significantly lower than PBP's 4.90% return.
YLDE
- 1D
- -0.32%
- 1M
- 0.13%
- YTD
- 4.09%
- 6M
- 5.06%
- 1Y
- 13.89%
- 3Y*
- 14.60%
- 5Y*
- 9.54%
- 10Y*
- —
PBP
- 1D
- -0.17%
- 1M
- 2.03%
- YTD
- 4.90%
- 6M
- 6.44%
- 1Y
- 18.32%
- 3Y*
- 11.58%
- 5Y*
- 8.10%
- 10Y*
- 7.14%
YLDE vs. PBP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YLDE ClearBridge Dividend Strategy ESG ETF | 4.09% | 13.09% | 16.44% | 15.69% | -8.56% | 22.12% | 10.35% | 32.46% | -5.74% | 11.35% |
PBP Invesco S&P 500 BuyWrite ETF | 4.90% | 8.49% | 19.83% | 11.59% | -11.82% | 19.97% | -3.31% | 14.60% | -5.57% | 5.71% |
Correlation
The correlation between YLDE and PBP is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since May 24, 2017 | 0.49 |
The correlation between YLDE and PBP shifts across timeframes, from 0.49 (all time) to 0.62 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
YLDE vs. PBP — Risk / Return Rank
YLDE
PBP
YLDE vs. PBP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearBridge Dividend Strategy ESG ETF (YLDE) 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.
| YLDE | PBP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.60 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 3.52 | -1.68 |
| Martin ratioReturn relative to average drawdown | 6.84 | 18.66 | -11.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| YLDE | PBP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 2.68 | -1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.69 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.35 | +0.40 |
Drawdowns
YLDE vs. PBP - Drawdown Comparison
The maximum YLDE drawdown since its inception was -33.23%, smaller than the maximum PBP drawdown of -43.43%. Use the drawdown chart below to compare losses from any high point for YLDE and PBP.
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Drawdown Indicators
| YLDE | PBP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.23% | -43.43% | +10.20% |
Max Drawdown (1Y)Largest decline over 1 year | -7.59% | -5.22% | -2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -11.42% | -15.42% | +4.00% |
Max Drawdown (5Y)Largest decline over 5 years | -20.22% | -18.61% | -1.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.31% | — |
Current DrawdownCurrent decline from peak | -2.54% | -0.17% | -2.37% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -6.69% | +3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 0.98% | +1.05% |
Volatility
YLDE vs. PBP - Volatility Comparison
ClearBridge Dividend Strategy ESG ETF (YLDE) has a higher volatility of 1.81% compared to Invesco S&P 500 BuyWrite ETF (PBP) at 0.93%. This indicates that YLDE'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.
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Volatility by Period
| YLDE | PBP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.81% | 0.93% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 6.74% | 5.53% | +1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.31% | 6.87% | +2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.50% | 11.86% | +1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.76% | 13.66% | +2.10% |
YLDE vs. PBP - Expense Ratio Comparison
YLDE has a 0.60% expense ratio, which is higher than PBP's 0.29% expense ratio.
Dividends
YLDE vs. PBP - Dividend Comparison
YLDE's dividend yield for the trailing twelve months is around 7.04%, less than PBP's 11.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBP Invesco S&P 500 BuyWrite ETF | 11.16% | 11.12% | 9.36% | 3.35% | 1.33% | 6.21% | 1.41% | 5.04% | 2.59% | 10.86% | 2.56% | 6.19% |
YLDE ClearBridge Dividend Strategy ESG ETF | 7.04% | 5.68% | 1.69% | 1.64% | 1.68% | 1.15% | 1.46% | 1.65% | 2.25% | 1.31% | 0.00% | 0.00% |
Frequently Asked Questions
YLDE and PBP have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YLDE has higher volatility (1.81%) compared to PBP (0.93%). In terms of maximum drawdown, YLDE dropped -33.23% vs PBP's -43.43%.
On 5-year performance, YLDE leads with 9.54% vs 8.10% for PBP. On fees, PBP is cheaper at 0.29% per year. On volatility, PBP has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, YLDE has performed better with a 9.54% return vs 8.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PBP is cheaper with a 0.29% expense ratio, compared with 0.60% for YLDE.
PBP has the higher dividend yield at 11.16%, compared with 7.04% for YLDE.
YLDE is categorized as Dividend, while PBP is Derivative Income. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.60% for YLDE and 0.29% for PBP.
PBP currently has the higher Sharpe Ratio (2.68 vs 1.50), 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.
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