BALI and PBP are both covered call ETFs tracking the same benchmark, but with different approaches. BALI offers a 7.83% yield, while PBP provides a 11.36% yield. Compare their scores, yields, and performance metrics to find the best fit for your portfolio.
Compare covered call ETFs with the same benchmark side by side
iShares U.S. Large Cap Premium Income Active ETF
7.26
Overall Score
Invesco S&P 500 BuyWrite ETF
5.76
Overall Score
| Criteria | BALI | PBP |
|---|---|---|
| Overall Score | 7.26 5.76 | |
| Total Return (25%) | 9.07 2.53 | |
| Downside Protection (25%) | 3.93 8.47 | |
| Upside Participation (25%) | 8.88 5.37 | |
| Consistency (15%) | 7.19 7.22 | |
| Expense Ratio (5%) | 9.38 6.38 | |
| Liquidity (5%) | 4.90 5.41 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | BALI | PBP |
|---|---|---|
| Expense Ratio | 0.350% | 0.490% |
| Inception Date | Oct 18, 2022 | Dec 20, 2007 |
| Issuer | BlackRock | Invesco |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 3/5 stars | 5/5 stars |
Keeps 89% of S&P 500 upside for a 7.8% yield, but with 36 months of history and 80% down capture the downside protection is modest.
Investor Profile:
BALI is an actively managed BlackRock fund run by its Systematic Active Equity team (Robert Fisher, Travis Cooke, Raffaele Savi). It holds about 203 large-cap U.S. stocks, with technology at 36.8% of assets. It sells call options on a large-cap equity index to collect premium and pays monthly. Its benchmark is the S&P 500.
Cut volatility to 8.9% (SPY 15.7%) and pays 11.4%, but it captured 54% of S&P 500 upside and 58% of the downside.
Investor Profile:
PBP tracks the Cboe S&P 500 BuyWrite Index. It holds the S&P 500 stocks, about 507 positions, and sells at-the-money one-month call options on the S&P 500 index. The rules are mechanical, with no active manager decisions. It pays monthly.
Both funds are scored on total return, downside protection, upside participation, distribution consistency, cost and liquidity, against the same benchmark and the same window.
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