PBPInvesco S&P 500 BuyWrite ETF
Tracks the investment results of the CBOE S&P 500 BuyWrite Index.
By Invesco · Launched 2007
0.29%
#1,304 of 5,861 · low cost
$344M
#1,888 of 5,861 · large
9.85%
18 years
#554 of 5,861 · established
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 10 holdings = 38.9% of fund✓ well diversified
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Tracks the investment results of the CBOE S&P 500 BuyWrite Index.
- Strategy
- Invests at least 90% of total assets in securities of the Underlying Index and writes near-term covered call options on the S&P 500. The Fund employs full replication to track the Underlying Index, which includes significant exposure to the information technology sector.
- Inception date
- December 20, 2007
- Fund family
- Invesco
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
The big yield isn't extra money
The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.
Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-08-04