PBP: 10% Yield Hiding Poor Historical Data

Invesco S&P 500 BuyWrite ETF offers a 10% yield by holding S&P 500 stocks and selling covered calls for income. PBP's historical performance shows significant underperformance versus the S&P 500 and other buy-write ETFs, with notable inflation-adjusted value decay. Despite its attractive current yield, PBP's distribution has been irregular, raising concerns for income-focused investors.

Seeking Alpha • Sep 23, 2025

PBP: The Original Covered Call ETF Shows Us Why They Are All Risky

Invesco S&P 500 BuyWrite ETF, the first covered call ETF, offers a unique historical lens on the true risks of option-driven ETFs. Investors often underestimate the structural risks of covered call ETFs, mistaking past resilience for inherent safety. My experience with PBP highlights that these ETFs have not yet faced a prolonged, grinding market downturn.

Seeking Alpha • Jul 7, 2025

The Hunt for Yield: Enhanced Income ETFs Thrive in a Low-Upside Market

Coming off stellar gains from last year, many entered 2025 expecting limited upside. But upside may be even more limited following the recent rebound in equities as the tariff rhetoric cools.

ETF Trends • May 28, 2025

PBP: Don't Get Hypnotized By This 9% Yield

The Invesco S&P 500 BuyWrite ETF holds the stocks of the S&P 500 and sells short-term call options on the index to generate income. The current yield is attractive, but price history points to significant decay in inflation-adjusted value and distribution history shows an irregular and much lower yield. Several ETFs implementing similar strategies in the same universe have outperformed PBP over the last 2 years.

Seeking Alpha • Jan 27, 2025

Invesco Announces Changes to Four ETFs

PBP, CQQQ and RYJ to reduce fees; fee waiver extended for ICLO ATLANTA , Jan. 4, 2024 /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ), a leading global asset management firm, has announced that it will implement changes to four ETFs, as further outlined below.

PRNewsWire • Jan 5, 2024

Searching For A Viable Covered Call ETF Alternative To XYLD

The CBOE S&P 500 2% OTM BuyWrite Index is a covered call strategy that writes call options 2% out of the money. The BXY index has averaged an annual return of 9.91% since June 1988. There is no investable instrument that uses the BXY strategy, but the Invesco S&P 500 BuyWrite ETF is a promising alternative.

Seeking Alpha • Oct 1, 2023

PBP: A Buy-Write Fund With 1% Yield

The Invesco S&P 500 BuyWrite ETF invests in public equity markets in the US, using a long/short strategy and derivatives such as options to create its portfolio. The ETF tracks the performance of the CBOE S&P 500 BuyWrite Index, investing in growth and value stocks of large-cap companies, and started in 2007. I give the PBP ETF a Strong Sell as there are better choices available. Three are compared against PBP in terms of yield and return.

Seeking Alpha • Jul 22, 2023

Buy-Write ETF (PBP) Hits New 52-Week High

For investors seeking momentum, Invesco S&P 500 BuyWrite ETF PBP is probably on the radar. The fund just hit a 52-week high and is up 18.6% from its 52-week low price of $18.56/share.

Zacks Investment Research • Jun 9, 2023

PBP: BuyWrite ETF Closely Matching The S&P 500 This Year

Invesco S&P 500 BuyWrite ETF is a buy-write fund in the ETF format. The vehicle is closely tracking the S&P 500 performance this year.

Seeking Alpha • Apr 11, 2023

Good Fishing In The Dividend Stream

Once upon a time, dividends played a starring role in equity markets—until 14 years of easy money whetted investors' appetite for risk and created a massive tailwind for unprofitable, long-duration growth stocks. Valuations appear to be attractive: Stocks yielding north of 2.5% are trading near their largest discount to the equity market in recent memory.

Seeking Alpha • Feb 26, 2023