IVV vs PBP
iShares Core S&P 500 ETF vs Invesco S&P 500 BuyWrite ETF
Which is better, IVV or PBP?
Large Cap Blend against All Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 39.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IVV | PBP |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.29% |
| AUM | $876.4B | $380M |
| Dividend Yield | 1.06% | 10.40% |
| Holdings | 508 | 508 |
| YTD Return | +11.57%Best | +1.43% |
| 1Y Return | +17.57%Best | +7.54% |
| 3Y Return (annualized) | +20.71%Best | +12.00% |
| 5Y Return (annualized) | +12.80%Best | +7.50% |
| Volatility (annualized) | 15.7%Best | 49.4% |
| Max Drawdown | -54.7%Best | -79.6% |
| $10,000 over 5 years | $18,262Best | $14,356 |
| Top 10 Weight | 37.9%Best | 39.5% |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | All Cap Blend |
| Inception | May 15, 2000 | Dec 20, 2007 |
Volatility and max drawdown are measured over the window both funds cover: Dec 20, 2007 to Sep 10, 2026 (18.7 years).
IVV vs PBP growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 18.7 years both funds cover.
IVV vs PBP Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Invesco S&P 500 BuyWrite ETF (PBP) is an ETF from Invesco (US). Over the past year IVV returned +17.57% while PBP returned +7.54%. Year to date, IVV is up 11.57% versus a gain of 1.43% for PBP.
Over three years, IVV compounded at +20.71% per year against +12.00% for PBP; over five years the annualized figures are +12.80% and +7.50% respectively. Across the full 19-year window we track, IVV has the edge at +9.63% annualized vs +5.56%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PBP has been the more volatile fund, with annualized monthly volatility of 49.4% compared with 15.7% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -54.7% for IVV and -79.6% for PBP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.13. They move largely independently of each other.
Fees and Cost Over Time
IVV charges 0.03% per year while PBP charges 0.29%. On a $10,000 position that is $3 vs $29 annually, a gap of $26 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 10.40% for PBP.
Holdings Overlap
97.4% of IVV's money is in holdings PBP also owns. 100.0% of PBP's money is in holdings IVV also owns.
Most of PBP is already inside IVV. Owning both mostly buys the same companies twice.
485 positions in common, counted across the 505 positions we hold weights for in IVV and 495 in PBP, against full books of 508 and 508.
What only one of them owns
Our book lists 5 positions for PBP that do not appear in our book for IVV (0.6% of the fund), and 14 for IVV that do not appear in PBP (2.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in IVV | Weight in PBP | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.98% | 8.01% | 0.03% |
| AAPLApple, Inc | 6.86% | 7.09% | 0.23% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.44% | 5.71% | 0.27% |
| AMZNAmazon.Com Inc | 4.01% | 4.24% | 0.23% |
| GOOGLAlphabet A Usd 0.001 | 3.19% | 3.46% | 0.27% |
| AVGOBroadcom Inc | 2.98% | 3.09% | 0.11% |
| GOOGAlphabet Inc | 2.56% | 2.77% | 0.21% |
| METAMeta Platforms, Inc. | 1.94% | 2.01% | 0.07% |
| MUMicron Technology, Inc. | 1.51% | 1.57% | 0.06% |
| JPMJpmorgan Chase & Co. | 1.45% | 1.50% | 0.05% |
100.0% of PBP is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or PBP?
IVV has an expense ratio of 0.03% while PBP charges 0.29%. IVV is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, IVV or PBP?
Over the past year IVV returned +17.57% vs +7.54% for PBP, so IVV leads on 1-year performance. Over the longest common window we track (19 years), IVV annualized +9.63% vs +5.56% for PBP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PBP?
PBP has been the more volatile fund at 49.4% annualized versus 15.7% for IVV. Worst drawdown: IVV -54.7% vs PBP -79.6%.
Should I hold both IVV and PBP?
IVV and PBP have a monthly-return correlation of 0.13, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between IVV and PBP?
100.0% of PBP's money is in holdings IVV also owns. 100.0% of PBP's is in holdings IVV also owns. They hold 485 positions in common, counted across the 505 positions we hold weights for in IVV and 495 in PBP.
Which pays a higher dividend, IVV or PBP?
IVV yields 1.06% while PBP yields 10.40%, so PBP currently pays the higher dividend yield.
Is PBP better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 39.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.