PBP and RSPA are both covered call ETFs tracking the same benchmark, but with different approaches. PBP offers a 11.36% yield, while RSPA provides a 9.42% 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
Invesco S&P 500 BuyWrite ETF
5.76
Overall Score
Invesco S&P 500 Equal Weight Income Advantage ETF
6.25
Overall Score
| Criteria | PBP | RSPA |
|---|---|---|
| Overall Score | 5.76 6.25 | |
| Total Return (25%) | 2.53 5.78 | |
| Downside Protection (25%) | 8.47 3.65 | |
| Upside Participation (25%) | 5.37 6.84 | |
| Consistency (15%) | 7.22 10.00 | |
| Expense Ratio (5%) | 6.38 7.62 | |
| Liquidity (5%) | 5.41 6.01 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | PBP | RSPA |
|---|---|---|
| Expense Ratio | 0.490% | 0.390% |
| Inception Date | Dec 20, 2007 | Jul 1, 2024 |
| Issuer | Invesco | Invesco |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 5/5 stars | 4/5 stars |
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.
Down capture of 82% against 68% up capture means the structure gave up more upside than it cushioned losses over 26 months.
Investor Profile:
RSPA is an actively managed Invesco fund of funds that holds stocks and ETFs to mirror the S&P 500 Equal Weight Index, 523 positions. It earns option income through equity-linked notes (ELNs), and about 20% of assets sit in an Invesco government money market fund. It pays monthly and charges 0.29%.
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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