XYLD vs PBP: Which Covered Call ETF Is Better?

XYLD and PBP are both covered call ETFs tracking the same benchmark, but with different approaches. XYLD offers a 10.41% yield, while PBP provides a 11.36% yield. Compare their scores, yields, and performance metrics to find the best fit for your portfolio.

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Compare covered call ETFs with the same benchmark side by side

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XYLD

Global X S&P 500 Covered Call ETF

S&P 500Inception: Jun 24, 2013

5.79

Overall Score

PBP

Invesco S&P 500 BuyWrite ETF

S&P 500Inception: Dec 20, 2007

5.76

Overall Score

CriteriaXYLDPBP
Overall Score
5.79
5.76
Total Return (25%)
3.79
2.53
Downside Protection (25%)
5.90
8.47
Upside Participation (25%)
6.45
5.37
Consistency (15%)
7.61
7.22
Expense Ratio (5%)
5.00
6.38
Liquidity (5%)
7.23
5.41
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Key Metrics

MetricXYLDPBP
Expense Ratio0.600%0.490%
Inception DateJun 24, 2013Dec 20, 2007
IssuerGlobal XInvesco
Distribution FrequencyMonthlyMonthly
Maturity Rating5/5 stars5/5 stars

Verdicts

XYLD

Cut volatility to 9.0% (SPY 15.7%), but its worst drawdown (-23.4%) was only 0.5 points better than SPY's.

Investor Profile:

XYLD tracks the Cboe S&P 500 BuyWrite Index. It holds the S&P 500 stocks, 507 positions, and sells one-month at-the-money call options on the whole portfolio. The rules are mechanical and it pays monthly. PBP tracks the same index.

PBP

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.

Full scores for these funds

XYLD scorecardPBP scorecard

Other comparisons in this benchmark group

See where these rank against every SPY fund

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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