PBP Invesco S&P 500 BuyWrite ETF
What is PBP?
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 Summary Data
PBP Portfolio Data
PBP Index Data
PBP Portfolio Management
PBP Tax Exposures
PBP Fund Structure
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 Top 10 Holdings
PBP Performance Statistics
PBP Economic Development
PBP Benchmark Comparison Summary
PBP Benchmark Comparison Market Cap Size