PBP

Invesco S&P 500 BuyWrite ETF

PBP is based on the CBOE S&P 500 BuyWrite Index. The fund generally invests at least 90% of its total assets in securities that comprise the Index and will write (sell) call options thereon.


US

EQUITY

Passive

MANAGEMENT STYLE

92.2 M

ASSETS UNDER MGMT

49 bp

EXPENSES
Fund Basics
Fund sponsorInvesco
CategoryUS
Asset classEquity
Websitelink...
Inception dateDec 20, 2007
Assets (mns)$92
Expense ratio49 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionFixed
WeightingFixed
Holdings TransparencyFull
Derivatives-basedYes
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
APPLE INC 7.2 %
MICROSOFT CORP 6.6 %
NVIDIA CORP 6.2 %
AMAZON.COM INC 3.7 %
META PLATFORMS INC 2.6 %
ALPHABET INC. CLASS A 2.0 %
BERKSHIRE HATHAWAY INC-CL B 1.7 %
BROADCOM INC. 1.7 %
ALPHABET INC. CLASS C 1.7 %
TESLA MOTORS INC 1.5 %
Constituent Breakdown
Number of holdings496
Herfindahl-Hirschman Index 194
Wgt avg mkt cap (mns)$878,845
Large cap (>$10bn)99.6%
Mid cap ($2-10bn)0.4%
Small cap (<$2bn)0.0%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 97.8 %
IRELAND 1.6 %
BRITAIN 0.6 %
Historical Performance


Standardized Performance (as of 09/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 13.1% 18.2% 16.2% 5.8% 6.1% 5.6% 4.8%
Volatility 5.6% 6.7% 10.4% 11.7% 16.1% 13.5% --
Market Correlations
versus...BetaR-squared
S&P 5000.5181%
MSCI EAFE0.4561%
MSCI Emg Mkts0.3026%
Liquidity Measures
Avg. volume (000)11
Turnover0.3%
Avg. Bid/Ask (% of price)0.40%
ADV of underlying (mns)$279,119
Technical Indicators
Recent close$22.83
30d moving avg.$22.53
Annualized volatility10.2%
Relative strength (RSI)58
Short interest (ETF)0.3%
Short interest (underlying)1.5%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: PBP vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Book value per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2023 2024E Fwd Est 2025E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
2.8 21.2 3.9 1.3% --
Based on closing prices from 10/4/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
PBP



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Rating

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™

PBP

4.6%

Cat. Avg

5.5%


ALTAR Score™ Calculation

Category Overview
There are 933 funds in the US Equity category, with an average ALTAR Score™ of 5.5% and a standard deviation of 2.4%. PBP's ALTAR Score™ is approximately 0.4 standard deviations below the category average. This places PBP in the 35th percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

PBP
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Passive
US Equity ETFs
# of ETFs 192
Avg. Expense Ratio 31.0 bp
Std. Deviation 25.7 bp
PBP (49 bp) Percentile rank 76
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
PBP 49.0 39.8 88.8
Peer Avg. 25.4 9.8 35.2
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .