Invesco S&P 500 BuyWrite ETF
$23.26−0.10 (−0.41%)
- Expense ratio
- 0.29%
- Fund size
- $390M
- 1Y return
- +18.9%
- Yield · Last 12 months
- 11.33%
- Holdings
- 505
- Volume · 30D
- 0.1M sh
- NAV per share
- $23.30
- 52W range
The ETF.net PBP Grade
Score 70 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 90Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 57Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 38Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 73Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 85Category rank
Our read on PBP
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.
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
- Charges 0.29%, under half the 0.60% median for S&P 500 options-income funds. XYLD runs a similar covered-call playbook at 0.60%.
- Trading since 2007, so its record spans the financial crisis and everything after. Long history for an options-income ETF.
- Plain mechanics: roughly 500 stocks tracking the S&P 500, calls written against that position, premium paid out monthly.invesco.com
- Sits among the stronger implementations in a crowded field of S&P 500 income funds.
Worth knowing
- Covered calls trade upside for premium. When the S&P 500 runs hard, the written calls hand back part of that move.invesco.com
- Thinly traded next to the headline names in the category, which can mean wider bid-ask spreads.
- No longer the cheapest seat: IVVW writes calls on the same index for 0.25%.
PBP Holdings
- Other
- 505
- 39%
- NVDA
Sectors
- Technology38.7%
- Financials12.1%
- Communication9.5%
- Consumer Discr.9.3%
- Health Care9.3%
- Industrials7.8%
- Cons. Staples4.5%
- Energy3.5%
- Utilities2.0%
- Real Estate1.8%
- Materials1.7%
Geography
- United States97.96%
- Ireland1.15%
- United Kingdom0.41%
- Switzerland0.30%
- Netherlands0.09%
- Bermuda0.07%
- Canada0.02%
PBP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | +11.0% |
| 1 month | +1.7% |
| 3 months | +5.6% |
| 1 year | +18.9% |
| 3 years | +14.3% |
| 5 years | +8.5% |
| 10 years | +7.4% |
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 | +11.0% | |
| 2025 | +8.5% | |
| 2024 | +19.8% | |
| 2023 | +11.6% | |
| 2022 | −11.8% | |
| 2021 | +20.0% | |
| 2020 | −3.3% |
PBP in the news
ETF.net Research hasn’t filed on PBP yet — coverage lands here as it’s written.
PBP Dividends
- 11.33%
- $2.65
- $0.19 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 21, 2026 | Pays Sep 25, 2026 | $0.19 |
| Aug 24, 2026 | Aug 28, 2026 | $0.22 |
| Jul 20, 2026 | Jul 24, 2026 | $0.19 |
| Jun 22, 2026 | Jun 26, 2026 | $0.23 |
| May 18, 2026 | May 22, 2026 | $0.21 |
| Apr 20, 2026 | Apr 24, 2026 | $0.21 |
| Mar 23, 2026 | Mar 27, 2026 | $0.19 |
| Feb 23, 2026 | Feb 27, 2026 | $0.20 |
| Jan 20, 2026 | Jan 23, 2026 | $0.21 |
| Dec 22, 2025 | Dec 26, 2025 | $0.39 |
| Nov 24, 2025 | Nov 28, 2025 | $0.22 |
| Oct 20, 2025 | Oct 24, 2025 | $0.17 |
PBP Risk
- 6.6%
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.
- 1.21
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.
PBP Cost
- The middle half of S&P 500 Option Income funds
- Median 0.60%
4 of the 51 S&P 500 Option Income funds charge less.