PBP vs QQQ
Invesco S&P 500 BuyWrite ETF vs Invesco QQQ Trust, Series 1
Which is better, PBP or QQQ?
All Cap Blend against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. PBP is less concentrated, with 39.5% of the fund in its ten largest positions against 46.5%.
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 | PBP | QQQ |
|---|---|---|
| Expense Ratio | 0.29% | 0.18%Best |
| AUM | $380M | $483.5B |
| Dividend Yield | 10.40% | 0.44% |
| Holdings | 508 | 107 |
| YTD Return | +2.10% | +16.87%Best |
| 1Y Return | +7.85% | +22.98%Best |
| 3Y Return (annualized) | +12.25% | +24.98%Best |
| 5Y Return (annualized) | +7.60% | +14.39%Best |
| Volatility (annualized) | 49.4% | 19.0%Best |
| Max Drawdown | -79.6% | -51.3%Best |
| $10,000 over 5 years | $14,423 | $19,586Best |
| Top 10 Weight | 39.5%Best | 46.5% |
| Fund Family | Invesco (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Growth |
| Inception | Dec 20, 2007 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Dec 20, 2007 to Sep 11, 2026 (18.7 years).
PBP vs QQQ 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.
PBP vs QQQ Performance
Invesco S&P 500 BuyWrite ETF (PBP) is an ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year PBP returned +7.85% while QQQ returned +22.98%. Year to date, PBP is up 2.10% versus a gain of 16.87% for QQQ.
Over three years, PBP compounded at +12.25% per year against +24.98% for QQQ; over five years the annualized figures are +7.60% and +14.39% respectively. Across the full 19-year window we track, QQQ has the edge at +15.35% annualized vs +5.60%.
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 19.0% for QQQ. 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 -79.6% for PBP and -51.3% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.08. They move largely independently of each other.
Fees and Cost Over Time
PBP charges 0.29% per year while QQQ charges 0.18%. On a $10,000 position that is $29 vs $18 annually, a gap of $11 per year that compounds over a long holding period. On income, PBP currently yields 10.40% against 0.44% for QQQ.
Holdings Overlap
55.2% of PBP's money is in holdings QQQ also owns. 91.2% of QQQ's money is in holdings PBP also owns.
Most of QQQ is already inside PBP. Owning both mostly buys the same companies twice.
86 positions in common, counted across the 495 positions we hold weights for in PBP and 102 in QQQ, against full books of 508 and 107.
What only one of them owns
Our book lists 9 positions for QQQ that do not appear in our book for PBP (5.9% of the fund), and 400 for PBP that do not appear in QQQ (46.6%).
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 PBP | Weight in QQQ | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.01% | 8.44% | 0.43% |
| AAPLApple, Inc | 7.09% | 7.27% | 0.18% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.71% | 5.76% | 0.05% |
| AMZNAmazon.Com Inc | 4.24% | 4.67% | 0.43% |
| GOOGLAlphabet A Usd 0.001 | 3.46% | 3.36% | 0.10% |
| AVGOBroadcom Inc | 3.09% | 3.16% | 0.07% |
| MUMicron Technology, Inc. | 1.57% | 4.43% | 2.86% |
| GOOGAlphabet Inc | 2.77% | 3.13% | 0.36% |
| METAMeta Platforms, Inc. | 2.01% | 2.78% | 0.77% |
| TSLATesla Inc | 1.44% | 2.56% | 1.12% |
91.2% of QQQ is already inside PBP.
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, PBP or QQQ?
PBP has an expense ratio of 0.29% while QQQ charges 0.18%. QQQ is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, PBP or QQQ?
Over the past year PBP returned +7.85% vs +22.98% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (19 years), PBP annualized +5.60% vs +15.35% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PBP or QQQ?
PBP has been the more volatile fund at 49.4% annualized versus 19.0% for QQQ. Worst drawdown: PBP -79.6% vs QQQ -51.3%.
Should I hold both PBP and QQQ?
PBP and QQQ have a monthly-return correlation of 0.08, 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 PBP and QQQ?
91.2% of QQQ's money is in holdings PBP also owns. 91.2% of QQQ's is in holdings PBP also owns. They hold 86 positions in common, counted across the 495 positions we hold weights for in PBP and 102 in QQQ.
Which pays a higher dividend, PBP or QQQ?
PBP yields 10.40% while QQQ yields 0.44%, so PBP currently pays the higher dividend yield.
Is QQQ better than PBP?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. PBP is less concentrated, with 39.5% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.