PBP vs SPY
Comparison between INVESCO S&P 500 BUYWRITE ETF (PBP, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed PBP, delivering a return of +13.3% compared to +7.9%
PBP vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
PBP
$335M
Winner
SPY
$735B
Expense Ratio
PBP
0.29%
Winner
SPY
0.09%
Max Drawdown
Winner
PBP
45.11%
SPY
56.47%
Sharpe Ratio
Winner
PBP
1.75
SPY
1.62
5Y Beta
Winner
PBP
0.64
SPY
1.00
P/E Ratio
PBP
29.47
Winner
SPY
28.99
Forward P/E
PBP
22.41
Winner
SPY
22.37
5Y Dividends CAGR
Winner
PBP
63.54%
SPY
5.43%
5Y EPS CAGR
Winner
PBP
29.37%
SPY
26.05%
Debt to Equity
PBP
40.80%
Winner
SPY
32.40%
P/S Ratio
Winner
PBP
3.73
SPY
3.74
P/B Ratio
PBP
5.66
Winner
SPY
5.61
PBP vs SPY - Holdings Comparison
PBP and SPY have 464 common holdings. Overlap is 79.98%
PBP's top 25 holdings weight is 51.80%. SPY's top 25 holdings weight is 52.37%.
| Rank | PBP | SPY |
|---|---|---|
| #1 | NVIDIA CORP (NVDA) - 8.30% | NVIDIA CORP (NVDA) - 8.10% |
| #2 | APPLE INC (AAPL) - 7.19% | APPLE INC (AAPL) - 7.02% |
| #3 | MICROSOFT CORP (MSFT) - 4.91% | MICROSOFT CORP (MSFT) - 4.79% |
| #4 | AMAZON.COM INC (AMZN) - 4.12% | AMAZON.COM INC (AMZN) - 4.02% |
| #5 | ALPHABET INC CLASS A (GOOGL) - 3.60% | ALPHABET INC CLASS A (GOOGL) - 3.51% |
| #6 | BROADCOM INC (AVGO) - 3.18% | BROADCOM INC (AVGO) - 3.10% |
| #7 | ALPHABET INC CLASS C (GOOG) - 2.86% | ALPHABET INC CLASS C (GOOG) - 2.79% |
| #8 | META PLATFORMS INC CLASS A (META) - 2.13% | META PLATFORMS INC CLASS A (META) - 2.08% |
| #9 | TESLA INC (TSLA) - 1.94% | TESLA INC (TSLA) - 1.89% |
| #10 | MICRON TECHNOLOGY INC (MU) - 1.60% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.41% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #12 | ELI LILLY AND CO (LLY) - 1.34% | ELI LILLY AND CO (LLY) - 1.31% |
| #13 | ADVANCED MICRO DEVICES INC (AMD) - 1.31% | JPMORGAN CHASE & CO (JPM) - 1.28% |
| #14 | JPMORGAN CHASE & CO (JPM) - 1.31% | ADVANCED MICRO DEVICES INC (AMD) - 1.27% |
| #15 | EXXON MOBIL CORP (XOM) - 0.99% | EXXON MOBIL CORP (XOM) - 0.97% |
| #16 | INTEL CORP (INTC) - 0.92% | INTEL CORP (INTC) - 0.90% |
| #17 | JOHNSON & JOHNSON (JNJ) - 0.88% | JOHNSON & JOHNSON (JNJ) - 0.86% |
| #18 | VISA INC CLASS A (V) - 0.87% | VISA INC CLASS A (V) - 0.85% |
| #19 | WALMART INC (WMT) - 0.83% | WALMART INC (WMT) - 0.81% |
| #20 | CISCO SYSTEMS INC (CSCO) - 0.74% | CISCO SYSTEMS INC (CSCO) - 0.72% |
| #21 | WESTERN DIGITAL CORP (WDC) - 0.28% | COSTCO WHOLESALE CORP (COST) - 0.69% |
| #22 | TJX COMPANIES INC (TJX) - 0.28% | CATERPILLAR INC (CAT) - 0.66% |
| #23 | THERMO FISHER SCIENTIFIC INC (TMO) - 0.27% | MASTERCARD INC CLASS A (MA) - 0.62% |
| #24 | SALESFORCE INC (CRM) - 0.27% | LAM RESEARCH CORP (LRCX) - 0.62% |
| #25 | BOEING CO (BA) - 0.27% | ABBVIE INC (ABBV) - 0.58% |
| Total Holdings | 466 | 505 |
PBP vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
PBP
+0.82%
Winner
SPY
+1.90%
3M
PBP
+2.27%
Winner
SPY
+8.55%
6M
PBP
+5.41%
Winner
SPY
+8.18%
1Y
PBP
+17.16%
Winner
SPY
+25.79%
5Y(CAGR)
PBP
+7.90%
Winner
SPY
+13.32%
10Y(CAGR)
PBP
+7.04%
Winner
SPY
+15.19%
Max(CAGR)
PBP
+5.17%
Winner
SPY
+8.47%
PBP vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | PBP | SPY |
|---|---|---|
| 2026 | +3.80% | +8.26% |
| 2025 | +8.98% | +18.00% |
| 2024 | +19.86% | +25.59% |
| 2023 | +11.74% | +26.72% |
| 2022 | -12.23% | -18.64% |
| 2021 | +20.87% | +30.52% |
| 2020 | -3.82% | +17.28% |
| 2019 | +13.35% | +31.09% |
| 2018 | -6.07% | -5.24% |
| 2017 | +11.20% | +20.78% |
| 2016 | +6.99% | +13.59% |
| 2015 | +5.54% | +1.31% |
| 2014 | +5.12% | +14.56% |
| 2013 | +11.48% | +29.00% |
| 2012 | +2.90% | +14.17% |
| 2011 | +4.10% | +0.85% |
| 2010 | +4.09% | +13.14% |
| 2009 | +21.34% | +22.67% |
| 2008 | -28.92% | -36.25% |
| 2007 | +2.07% | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
PBP vs SPY Drawdown Comparison
The maximum drawdown for PBP was -43.43%, occurring on Mar 9, 2009. Recovery took 1243 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current PBP drawdown is -1.05%. The current SPY drawdown is -2.90%.
| Rank | PBP | SPY |
|---|---|---|
| #1 | -43.43% Apr 30, 2008 - Apr 10, 2013 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -33.29% Feb 19, 2020 - Apr 6, 2021 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -18.62% Apr 13, 2022 - Feb 23, 2024 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -15.74% Sep 21, 2018 - Nov 7, 2019 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -15.42% Feb 19, 2025 - Oct 20, 2025 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -9.87% Dec 21, 2007 - Apr 30, 2008 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -9.85% Jul 20, 2015 - Nov 27, 2015 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -8.53% Dec 1, 2015 - Jun 23, 2016 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -8.04% Jan 26, 2018 - May 14, 2018 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -7.58% Sep 17, 2014 - Apr 10, 2015 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -6.46% Jan 3, 2022 - Mar 28, 2022 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -5.46% Jul 23, 2024 - Aug 15, 2024 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -5.23% Feb 25, 2026 - Apr 30, 2026 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -4.94% Jan 15, 2014 - Feb 14, 2014 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -3.90% May 21, 2013 - Oct 14, 2013 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between PBP and SPY is 0.98 which considered as a very strong positive correlation - the stocks move almost identically together.
0.98
-101
Dividend Comparison (1999 - 2026)
PBP vs SPY dividend yield comparison.
| Year | PBP | SPY |
|---|---|---|
| 2026 | 4.54% | 0.24% |
| 2025 | 11.12% | 1.07% |
| 2024 | 9.36% | 1.21% |
| 2023 | 3.35% | 1.40% |
| 2022 | 1.33% | 1.65% |
| 2021 | 6.21% | 1.20% |
| 2020 | 1.41% | 1.52% |
| 2019 | 5.04% | 1.75% |
| 2018 | 2.59% | 2.04% |
| 2017 | 10.86% | 1.80% |
| 2016 | 2.56% | 2.03% |
| 2015 | 6.19% | 2.06% |
| 2014 | 4.96% | 1.87% |
| 2013 | 6.62% | 1.81% |
| 2012 | 4.38% | 2.18% |
| 2011 | 10.88% | 2.05% |
| 2010 | 7.91% | 1.80% |
| 2009 | 1.53% | 1.95% |
| 2008 | 2.38% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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