PBP vs SCHD
Invesco S&P 500 BuyWrite ETF vs Schwab US Dividend Equity ETF
Which is better, PBP or SCHD?
All Cap Blend against Large Cap Value.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. PBP is less concentrated, with 38.3% of the fund in its ten largest positions against 41.8%.
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 | SCHD |
|---|---|---|
| Expense Ratio | 0.29% | 0.06%Best |
| AUM | $380M | $112.1B |
| Dividend Yield | 10.40% | 3.00% |
| Holdings | 508 | 103 |
| YTD Return | +2.32% | +24.23%Best |
| 1Y Return | +7.84% | +27.90%Best |
| 3Y Return (annualized) | +12.44% | +15.55%Best |
| 5Y Return (annualized) | +7.66% | +9.97%Best |
| Volatility (annualized) | 9.3%Best | 13.6% |
| Max Drawdown | -33.3%Best | -33.4% |
| $10,000 over 5 years | $14,463 | $16,083Best |
| Top 10 Weight | 38.3%Best | 41.8% |
| Fund Family | Invesco (US) | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Value |
| Inception | Dec 20, 2007 | Oct 20, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Oct 20, 2011 to Sep 17, 2026 (14.9 years).
PBP vs SCHD 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 14.9 years both funds cover.
PBP vs SCHD Performance
Invesco S&P 500 BuyWrite ETF (PBP) is an ETF from Invesco (US) and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year PBP returned +7.84% while SCHD returned +27.90%. Year to date, PBP is up 2.32% versus a gain of 24.23% for SCHD.
Over three years, PBP compounded at +12.44% per year against +15.55% for SCHD; over five years the annualized figures are +7.66% and +9.97% respectively. Across the full 15-year window we track, SCHD has the edge at +11.30% annualized vs +7.79%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 9.3% for PBP. 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 -33.3% for PBP and -33.4% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PBP charges 0.29% per year while SCHD charges 0.06%. On a $10,000 position that is $29 vs $6 annually, a gap of $23 per year that compounds over a long holding period. On income, PBP currently yields 10.40% against 3.00% for SCHD.
Holdings Overlap
8.1% of PBP's money is in holdings SCHD also owns. 94.9% of SCHD's money is in holdings PBP also owns.
Most of SCHD is already inside PBP. Owning both mostly buys the same companies twice.
46 positions in common, counted across the 491 positions we hold weights for in PBP and 100 in SCHD, against full books of 508 and 103.
What only one of them owns
Our book lists 53 positions for SCHD that do not appear in our book for PBP (5.1% of the fund), and 439 for PBP that do not appear in SCHD (91.0%).
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 SCHD | Difference |
|---|---|---|---|
| MRKMerck & Company Inc | 0.56% | 4.77% | 4.21% |
| AMGNAmgen Inc. | 0.36% | 4.70% | 4.34% |
| ABTAbbott Laboratories | 0.29% | 4.69% | 4.40% |
| KOCoca Cola Co. | 0.53% | 4.17% | 3.64% |
| CVXChevron Corp | 0.60% | 4.02% | 3.42% |
| HDHome Depot Inc/The | 0.50% | 3.88% | 3.38% |
| UNHUnitedhealth Group Incorporated | 0.54% | 3.82% | 3.28% |
| PGProcter & Gamble Company | 0.52% | 3.83% | 3.31% |
| VZVerizon Communic | 0.32% | 3.97% | 3.65% |
| COPConocophillips Common Stock USD 0.01 | 0.25% | 3.94% | 3.69% |
94.9% of SCHD 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 SCHD?
PBP has an expense ratio of 0.29% while SCHD charges 0.06%. SCHD is the cheaper option, by $23 a year on a $10,000 investment.
Which performed better, PBP or SCHD?
Over the past year PBP returned +7.84% vs +27.90% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), PBP annualized +7.79% vs +11.30% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PBP or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 9.3% for PBP. Worst drawdown: PBP -33.3% vs SCHD -33.4%.
Should I hold both PBP and SCHD?
PBP and SCHD have a monthly-return correlation of 0.75, 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 SCHD?
94.9% of SCHD's money is in holdings PBP also owns. 94.9% of SCHD's is in holdings PBP also owns. They hold 46 positions in common, counted across the 491 positions we hold weights for in PBP and 100 in SCHD.
Which pays a higher dividend, PBP or SCHD?
PBP yields 10.40% while SCHD yields 3.00%, so PBP currently pays the higher dividend yield.
Is SCHD better than PBP?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. PBP is less concentrated, with 38.3% of the fund in its ten largest positions against 41.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.