PBP vs VOO
Invesco S&P 500 BuyWrite ETF vs Vanguard S&P 500 ETF
Which is better, PBP or VOO?
All Cap Blend against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. VOO is less concentrated, with 36.4% 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 | PBP | VOO |
|---|---|---|
| Expense Ratio | 0.29% | 0.03%Best |
| AUM | $380M | $997.4B |
| Dividend Yield | 10.40% | 1.04% |
| Holdings | 508 | 509 |
| YTD Return | +2.10% | +12.50%Best |
| 1Y Return | +7.85% | +17.58%Best |
| 3Y Return (annualized) | +12.25% | +21.27%Best |
| 5Y Return (annualized) | +7.60% | +12.95%Best |
| Volatility (annualized) | 9.6%Best | 14.1% |
| Max Drawdown | -68.4% | -34.3%Best |
| $10,000 over 5 years | $14,423 | $18,384Best |
| Top 10 Weight | 39.5% | 36.4%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Dec 20, 2007 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 11, 2026 (16 years).
PBP vs VOO 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 16 years both funds cover.
PBP vs VOO Performance
Invesco S&P 500 BuyWrite ETF (PBP) is an ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year PBP returned +7.85% while VOO returned +17.58%. Year to date, PBP is up 2.10% versus a gain of 12.50% for VOO.
Over three years, PBP compounded at +12.25% per year against +21.27% for VOO; over five years the annualized figures are +7.60% and +12.95% respectively. Across the full 16-year window we track, VOO has the edge at +13.41% annualized vs +7.46%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 9.6% 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 -68.4% for PBP and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 10.40% against 1.04% for VOO.
Holdings Overlap
100.0% of PBP's money is in holdings VOO also owns. 97.6% of VOO's money is in holdings PBP also owns.
Most of PBP is already inside VOO. Owning both mostly buys the same companies twice.
488 positions in common, counted across the 495 positions we hold weights for in PBP and 505 in VOO, against full books of 508 and 509.
What only one of them owns
Our book lists 12 positions for VOO that do not appear in our book for PBP (2.1% of the fund), and 2 for PBP that do not appear in VOO (0.3%).
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 VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.01% | 7.51% | 0.50% |
| AAPLApple, Inc | 7.09% | 6.59% | 0.50% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.71% | 4.30% | 1.41% |
| AMZNAmazon.Com Inc | 4.24% | 3.62% | 0.62% |
| GOOGLAlphabet A Usd 0.001 | 3.46% | 3.25% | 0.21% |
| AVGOBroadcom Inc | 3.09% | 2.77% | 0.32% |
| GOOGAlphabet Inc | 2.77% | 2.59% | 0.18% |
| METAMeta Platforms, Inc. | 2.01% | 1.92% | 0.09% |
| MUMicron Technology, Inc. | 1.57% | 2.02% | 0.45% |
| TSLATesla Inc | 1.44% | 1.84% | 0.40% |
100.0% of PBP is already inside VOO.
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 VOO?
PBP has an expense ratio of 0.29% while VOO charges 0.03%. VOO is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, PBP or VOO?
Over the past year PBP returned +7.85% vs +17.58% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), PBP annualized +7.46% vs +13.41% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PBP or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 9.6% for PBP. Worst drawdown: PBP -68.4% vs VOO -34.3%.
Should I hold both PBP and VOO?
PBP and VOO have a monthly-return correlation of 0.85, 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 VOO?
100.0% of PBP's money is in holdings VOO also owns. 97.6% of VOO's is in holdings PBP also owns. They hold 488 positions in common, counted across the 495 positions we hold weights for in PBP and 505 in VOO.
Which pays a higher dividend, PBP or VOO?
PBP yields 10.40% while VOO yields 1.04%, so PBP currently pays the higher dividend yield.
Is VOO better than PBP?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. VOO is less concentrated, with 36.4% 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.