PBP and XYLG are both covered call ETFs tracking the same benchmark, but with different approaches. PBP offers a 11.36% yield, while XYLG provides a 12.83% 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
Global X S&P 500 Covered Call & Growth ETF
6.89
Overall Score
| Criteria | PBP | XYLG |
|---|---|---|
| Overall Score | 5.76 6.89 | |
| Total Return (25%) | 2.53 7.58 | |
| Downside Protection (25%) | 8.47 5.05 | |
| Upside Participation (25%) | 5.37 7.83 | |
| Consistency (15%) | 7.22 8.03 | |
| Expense Ratio (5%) | 6.38 5.00 | |
| Liquidity (5%) | 5.41 6.29 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | PBP | XYLG |
|---|---|---|
| Expense Ratio | 0.490% | 0.600% |
| Inception Date | Dec 20, 2007 | Oct 5, 2020 |
| Issuer | Invesco | Global X |
| 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.
Captured 78% of S&P 500 upside and 76% of the downside; the 12.8% TTM yield includes a one-off, and the regular yield is 5.6%.
Investor Profile:
XYLG tracks the Cboe S&P 500 Half BuyWrite Index. It holds the S&P 500 stocks, 506 positions, and sells one-month at-the-money calls on up to half of each holding, which leaves the rest free to follow the index. It paid a one-time distribution of $2.14 per share on Dec 30, 2025. 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.
28 covered call ETFs, rescored every month on total return, downside protection and NAV stability. One email a month, no promotions.
We store your email to send the monthly ranking. Unsubscribe any time by replying to any email. We never share or sell it.