PBP

Invesco S&P 500 Buy/Write

The Invesco S&P 500 BuyWrite Portfolio is an exchange traded Fund ('ETF') that purchases the S&P 500 stock portfolio and sells near term S&P 500 calls monthly. It is a passive investment that tracks the BXM <Index>.


5.7%

ALTAR Score™
Trend in ALTAR Score™
Percentile: 46th

NEUTRAL

Recommendation
 
Fund Basics
Fund sponsorInvesco PowerShares
CategoryUS Equities
Asset classEquity
Websitelink...
Inception dateDec 20, 2007
Assets (mns)$320
Expense ratio49 bp
CurrencyUSD
Constituent Breakdown
No. of constituents505
Herfindahl-Hirschman Index 90
Wgt avg mkt cap (mns)$233,438
Large cap (>$10bn)97.2%
Mid cap ($2-10bn)2.8%
Small cap (<$2bn)0.0%
Developed mkts.100.0%
Emerging mkts.0.0%
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionFixed
WeightingFixed
Smart-betaYes
Derivatives-basedYes
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
MICROSOFT CORP 4.2 %
APPLE INC 3.6 %
AMAZON.COM INC 3.2 %
FACEBOOK 1.8 %
BERKSHIRE HATHAWAY INC-CL B 1.7 %
JOHNSON & JOHNSON 1.6 %
JPMORGAN CHASE & CO 1.5 %
ALPHABET INC. CLASS C 1.4 %
ALPHABET INC. CLASS A 1.4 %
EXXON MOBIL CORP 1.3 %
Sector Breakdown
Country Exposure
UNITED STATES 98.0 %
IRELAND 1.4 %
BRITAIN 0.3 %
SWITZERLAND 0.3 %
BERMUDA 0.0 %
Historical Performance


Standardized Annual Returns (as of 05/31/2019)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
5.4% -2.3% 2.4% 5.6% 4.3% 7.8% 4.0%
Market Correlations
versus...BetaR-squared
S&P 5000.5781%
MSCI EAFE0.4441%
MSCI Emg Mkts0.2929%
Liquidity Measures
Avg. volume (000)95
Turnover0.6%
Avg. Bid/Ask (% of price)0.42%
ADV of underlying (mns)$171,594
Technical Indicators
Recent close$21.63
30d moving avg.$21.21
Annualized volatility7.4%
Relative strength (RSI)54
Short interest (ETF)0.1%
Short interest (underlying)2.4%
Distributions
Total Cost of Ownership Detail
  PBP Difference
Fund expenses -- --
Bid/Ask spread -- --
Round-trip commission -- -- --
Total Cost of Ownership -- -- --

Total Cost of Ownership over Time


Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

Alternative ETFs
Ticker Fund Name Overlap
vs. PBP
Expenses
vs. PBP
ALTAR Score™
vs. PBP
SPY S&P 500 SPDR 99.0% -40 bp +0.4%
IVV iShares Core S&P 500 98.8% -45 bp +0.4%
HSPX Global X S&P 500 Covered Call 98.7% +16 bp -0.2%
VOO Vanguard S&P 500 ETF 98.5% -46 bp +0.4%
SPXE ProShares S&P 500 Ex-Energy 95.4% -22 bp +0.3%
VV Vanguard Large-Cap ETF 94.1% -45 bp +0.3%
BBUS JP Morgan Betabuilders U.S. Equity 93.9% -47 bp +0.4%
SPYX SPDR S&P 500 Fossil Fuel Reserves Free 93.9% -29 bp +0.4%
PBUS Invesco PureBeta MSCI USA 93.2% -45 bp +0.4%
SCHX Schwab U.S. Large-Cap 91.6% -46 bp +0.3%
SPLG SPDR Portfolio Large Cap 90.1% -46 bp +0.3%
IWB iShares Russell 1000 88.7% -34 bp +0.3%
VONE Vanguard Russell 1000 88.6% -37 bp +0.3%
SCHK Schwab 1000 Index 88.1% -44 bp +0.3%
IYY iShares DJ US Total Market 86.7% -29 bp +0.2%
SPXV ProShares S&P 500 Ex-Health Care 86.0% -22 bp +0.2%
MGC Vanguard Mega Cap 300 ETF 85.5% -42 bp +0.3%
SFY SoFi Select 500 84.5% -49 bp +0.0%
CATH Global X S&P 500 Catholic Values 84.1% -20 bp +0.4%
SPXN ProShares S&P 500 Ex-Financials 83.9% -22 bp +0.3%

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Results & Estimates
  2014 2015 2016 2017 2018 2019E 2020E  
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

Content on this tab for Individual & Professional subscribers only

Valuation Metrics
  2018 2019E 2020E
Price-to-sales --x --x --x
Price-to-earnings --x --x --x
Price-to-cash flow --x --x --x
Price-to-growth --x --x --x
Price-to-book value --x --x --x
Yield --% --% --%

Some content on this tab for Individual & Professional subscribers only

ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

PBP

5.7%

Cat. Avg

5.9%

Fund Category: US Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™5.7%
Recommendation

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

Category Overview
There are 681 funds in the US Equities category, with an average ALTAR Score™ of 5.9% and a standard deviation of 2.3%. PBP's ALTAR Score™ is approximately 0.1 standard deviations below the category average. This places PBP in the 46th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Breakdown
Composite
PBP
Peer Average
SELL
U/W
HOLD
O/W
BUY



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Today's Trading

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Where to Trade PBP
Commission
on PBP1
# of Commission
-free ETFs2
 
$0.00 2,326
$0.00 2,102
$0.00 500
$1.00 54
$4.95 357
$4.95 114
$6.95 308
$6.95 291
Notes: 1. Commission of $0.00 indicates the fund is on the firm's recently published "Commission Free" list. Non-zero commissions represent each firm's standard commission rate based on our periodic review of firms' websites. Your commission may vary depending on account type and other factors. "Commission Free" ETF trades may be subject to additional requirements including minimum holding periods. 2. Not a complete list. Subject to change.
Portfolio composition files licensed from DTCC. Fundamental data for individual fund constituents sourced from FactSet Research Systems.