FTHI and PBP are both covered call ETFs tracking the same benchmark, but with different approaches. FTHI offers a 8.97% 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
First Trust BuyWrite Income ETF
5.78
Overall Score
Invesco S&P 500 BuyWrite ETF
5.76
Overall Score
| Criteria | FTHI | PBP |
|---|---|---|
| Overall Score | 5.78 5.76 | |
| Total Return (25%) | 3.80 2.53 | |
| Downside Protection (25%) | 5.38 8.47 | |
| Upside Participation (25%) | 6.54 5.37 | |
| Consistency (15%) | 9.93 7.22 | |
| Expense Ratio (5%) | 1.88 6.38 | |
| Liquidity (5%) | 5.27 5.41 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | FTHI | PBP |
|---|---|---|
| Expense Ratio | 0.750% | 0.490% |
| Inception Date | Jan 6, 2014 | Dec 20, 2007 |
| Issuer | First Trust | Invesco |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 5/5 stars | 5/5 stars |
A 9.0% yield with a 69% overwrite, but the worst drawdown (-23.6%) was nearly identical to SPY's (-23.9%).
Investor Profile:
FTHI holds about 192 U.S.-listed equities of all sizes and writes covered calls on the S&P 500 Index. The overwrite averages 69% of NAV, with calls about 0.6% out of the money and 26 days to expiry on average. First Trust Advisors manages it and the fund pays monthly.
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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