PBP vs VOO
Invesco S&P 500 BuyWrite ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | PBP | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.03% | |
| AUM | $368M | $997.4B | |
| Dividend Yield | 10.52% | 1.08% | |
| Holdings | 508 | 509 | |
| YTD Return | +2.23% | +12.68% | |
| 1Y Return | +10.27% | +21.87% | |
| 3Y Return (annualized) | +12.75% | +22.06% | |
| 5Y Return (annualized) | +7.72% | +12.95% | |
| Volatility (annualized) | 49.5% | 14.1% | |
| Max Drawdown | -79.6% | -34.3% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Dec 20, 2007 | Sep 7, 2010 |
PBP vs VOO Performance
Invesco S&P 500 BuyWrite ETF (PBP) is a ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year PBP returned +10.27% while VOO returned +21.87%. Year to date, PBP is up 2.23% versus a gain of 12.68% for VOO.
Over three years, PBP compounded at +12.75% per year against +22.06% for VOO; over five years the annualized figures are +7.72% and +12.95% respectively. Across the full 16-year window we track, VOO has the edge at +13.47% annualized vs +5.63%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PBP has been the more volatile fund, with annualized monthly volatility of 49.5% compared with 14.1% for VOO. 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 -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PBP charges 0.29% per year while VOO charges 0.03%. On a $10,000 position that is $29 vs $3 annually, a gap of $26 per year that compounds over a long holding period. On income, PBP currently yields 10.52% against 1.08% for VOO.
Holdings Overlap
PBP and VOO share 491 holdings out of 513 unique holdings combined, representing a 95.4% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, PBP or VOO?
PBP has an expense ratio of 0.29% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, PBP or VOO?
Over the past year PBP returned +10.27% vs +21.87% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), PBP annualized +5.63% vs +13.47% for VOO. Past performance does not guarantee future results.
Which is riskier, PBP or VOO?
PBP has been the more volatile fund at 49.5% annualized versus 14.1% for VOO. Worst drawdown: PBP -79.6% vs VOO -34.3%.
Should I hold both PBP and VOO?
PBP and VOO have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PBP and VOO?
PBP and VOO share 491 common holdings with a 95.4% weight overlap. Combined, they hold 513 unique securities.
Which pays a higher dividend, PBP or VOO?
PBP yields 10.52% while VOO yields 1.08%, so PBP currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.