Invesco S&P 500 BuyWrite ETF
$22.93−0.10 (−0.41%)
- 0.29%
- $389M
- +14.5%
- 11.45%
- 66K sh
- low $21.46high $23.57
The ETF.net PBP Grade
A
Score 71 out of 100
- 11 of 52
Score 71 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A87 out of 100Rank 5 of 52Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B66 out of 100Rank 11 of 52Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D39 out of 100Rank 35 of 52Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A77 out of 100Rank 8 of 41Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A83 out of 100Rank 5 of 52
Our read on PBP
In short
AA 2007-vintage covered-call fund on the S&P 500: hold the index, sell calls against it, pay the premium out monthly. The plain-vanilla version of the trade, priced well under the typical options-income fund.
Stated mandate
The fund uses a total-return buy-write approach on the S&P 500. It maintains a long position indexed to the S&P 500 and uses a covered-call strategy.
Why people hold it
Worth knowing
PBP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
PBP$11,447
Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | PBP |
|---|---|
| Year to date | +10.2% |
| 1 month | −0.4% |
| 3 months | +2.2% |
| 1 year | +14.5% |
| 3 years | +14.6% |
| 5 years | +7.5% |
| 10 years | +7.3% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PBP |
|---|---|---|
| 2026 YTD | +10.2% | |
| 2025 | +8.5% | |
| 2024 | +19.8% | |
| 2023 | +11.6% | |
| 2022 | −11.8% | |
| 2021 | +20.0% | |
| 2020 | −3.3% |
PBP in the news
PBP Dividends
- 11.45%
- $2.64
- $0.17 per share
- Monthly
PBP Risk
- 6.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.55
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −18.6%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.41
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
PBP Cost
Overpaying vs PEPS, cheapest in S&P 500 Option Income
$3,846
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
PBP 0.29%
$5,952
PEPS 0.10% Cheapest
$2,106
Cost over time
Year by year
| Year | PBP | PEPS | Overpaying |
|---|---|---|---|
| 10 | $527 | $183 | $344 |
| 20 | $2,044 | $717 | $1,327 |
| 30 | $5,952 | $2,106 | $3,846 |
Other funds in S&P 500 Option Income
- ASPYINeos S&P 500(R) High Income ETFExpense ratio 0.68%1 year return +11.9%
- ATPUTT. Rowe Price Capital Appreciation Market Opportunities ETFExpense ratio 0.25%1 year return
- APHEQParametric Hedged Equity ETFExpense ratio 0.29%1 year return +9.7%
- AXYLGGlobal X S&P 500 Covered Call & Growth ETFExpense ratio 0.35%1 year return +13.2%
- BPAPIParametric Equity Premium Income ETFExpense ratio 0.29%1 year return +20.5%
