PBPInvesco S&P 500 BuyWrite ETF
PBP Fund Description
PBP tracks an index that uses a covered-call strategy to provide long exposure to the S&P 500 and selling call options thereon.
PBP Factset Analytics Insight
PBP writes covered calls on its portfolio of S&P 500 securities, an options strategy which increases the yield substantially but also limits potential upside. The fund writes the near-term options generally each month, and each option’s exercise price is at or above the current price level of the S&P 500. By writing options on the securities held in the portfolio, PBP adds income from call premiums at the expense of upside, so returns have differed greatly from those of our benchmark. As a total return version, the underlying index reinvests all dividends paid on the S&P 500 components and the premiums from writing the option. The fund’s exposure looks pretty market-like, with a very slight midcap tilt and minute sector bets versus our large-cap benchmark. While PBP tends to perform well in bear markets, its inability to capture upside has spelled bad news during the recovery from 2008. The index is rebalanced and reconstituted quarterly.
PBP MSCI ESG Analytics Insight
Invesco S&P 500 BuyWrite ETF has an MSCI ESG Fund Rating of A based on a score of 5.82 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. Invesco S&P 500 BuyWrite ETF ranks in the 41st percentile within its peer group and in the 46th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
PBP MSCI FaCS and Factor Box
MSCI FaCS is a standard method for evaluating and reporting the Factor characteristics of equity portfolios including ETFs. The Factor Box includes 6 Factors that MSCI has identified that historically provided a return premium. On the vertical axis, the Factor Groups, are displayed and the horizontal axis displays the Factor exposure, overweight, underweight or neutral.
PBP Summary Data
PBP Portfolio Data
PBP Index Data
PBP Portfolio Management
PBP Tax Exposures
PBP Fund Structure
PBP Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of PBP. PBP is rated a 5 out of 5.
PBP Sector/Industry Breakdown
PBP Economic Development
PBP Performance Statistics
PBP MSCI ESG Ratings
PBP Benchmark Comparison Summary
PBP Benchmark Comparison Market Cap Size