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 sponsor | Invesco |
Category | US |
Asset class | Equity |
Website | link... |
Inception date | Dec 20, 2007 |
Assets (mns) | $92 |
Expense ratio | 49 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Fixed |
Weighting | Fixed |
Holdings Transparency | Full |
Derivatives-based | Yes |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
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 holdings | 496 |
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)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
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... | Beta | R-squared |
S&P 500 | 0.51 | 81% |
MSCI EAFE | 0.45 | 61% |
MSCI Emg Mkts | 0.30 | 26% |
Liquidity Measures
Avg. volume (000) | 11 |
Turnover | 0.3% |
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 volatility | 10.2% |
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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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. PBP |
Expenses vs. PBP |
ALTAR Score™ vs. PBP |
---|---|---|---|---|
XYLD | Global X S&P 500 Covered Call ETF | 100.2% | +11 bp | -0.1% |
XRMI | Global X S&P 500 Risk Managed Income ETF | 100.2% | +11 bp | -0.1% |
XYLG | Global X S&P 500 Covered Call & Growth ETF | 99.6% | +11 bp | -0.1% |
XTR | Global X S&P 500 Tail Risk ETF | 98.3% | -23 bp | +0.4% |
XCLR | Global X S&P 500 Collar 95-110 ETF | 97.9% | -24 bp | +0.4% |
EFIV | SPDR S&P 500 ESG ETF | 73.8% | -39 bp | +0.6% |
XYLE | Global X S&P 500 ESG Covered Call ETF | 73.8% | +11 bp | +0.2% |
SFLR | Innovator Equity Managed Floor ETF | 69.1% | +40 bp | -0.6% |
FTHI | First Trust BuyWrite Income ETF | 62.7% | +26 bp | +0.2% |
ACIO | Aptus Collared Investment Opportunity ETF | 58.6% | +30 bp | -0.5% |
Risk and Returns: PBP vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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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 | --% |
Based on closing prices from 10/4/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
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
PBPSELL
U/W
HOLD
O/W
BUY
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 .