Invesco S&P 500 BuyWrite ETF
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- Description
- Performance
- Comps
Fundamentals
Valuation
Rating
The Invesco S&P 500 BuyWrite Portfolio is an exchange traded Fund ('ETF') that purchases the S&P 500 stock portfolio and sells near term S&P 500 calls monthly. It is a passive investment that tracks the BXM |
Category | US Equities |
Fund Sponsor | Invesco PowerShares |
Website | www.powershares.com |
Inception date | Dec 20, 2007 |
Assets (mns) | $164 |
Currency | USD |
Expense ratio | 49 bp |
Distributions | Quarterly |
Regulation | Open-Ended Fund |
Custodian | Bank of New York Mellon |
Weighting | Fixed |
Index replication | Full |
Uses derivatives | Yes |
Options available | Yes |
No. of constituents | 505 |
Wgt avg mkt cap (mns) | $527,839 |
Large cap (>$10bn) | 98.6% |
Mid cap ($2-10bn) | 1.4% |
Small cap (<$2bn) | 0.0% |
Developed mkts | 100.0% |
Emerging mkts | 0.0% |
APPLE INC | 6.6 % |
MICROSOFT CORP | 5.8 % |
AMAZON.COM INC | 4.4 % |
2.0 % | |
ALPHABET INC. CLASS A | 2.0 % |
ALPHABET INC. CLASS C | 1.9 % |
TESLA MOTORS INC | 1.9 % |
BERKSHIRE HATHAWAY INC-CL B | 1.5 % |
JPMORGAN CHASE & CO | 1.4 % |
JOHNSON & JOHNSON | 1.4 % | Total | 28.7 % |
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UNITED STATES | 101.0 % |
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IRELAND | 1.7 % |
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BRITAIN | 1.0 % |
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SWITZERLAND | 0.4 % |
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BERMUDA | 0.0 % |
HISTORICAL PERFORMANCE 

Custom date range | Compare to | ||
thru |
Year-to-date | 1 year | 5 years | 10 years | Since Incep. |
1.3% | 6.9% | 5.5% | 5.3% | 4.0% |
versus... | Beta | R-squared |
S&P500 | 0.70 | 85% |
MSCI EAFE | 0.69 | 80% |
MSCI Emg. Mkts. | 0.53 | 59% |
Recent close | $20.75 |
30d moving avg. | $20.92 |
Annualized volatility | 14.1% |
Short interest (ETF) | 0.2% |
Short interest (Underlying) | 1.5% |
Relative strength (RSI) | 52 |
Avg. volume (thou.) | 35 |
Turnover | 0.4% |
Bid/Ask (% of price) | 0.54% |
ADV underlying (mns) | $246,662 |
FINDING ALTERNATIVE FUNDS
Below is a list of 98 potential alternatives to the Invesco S&P 500 BuyWrite ETF ETF based on the alternatives' overlap in portfolio holdings with PBP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.
Benchmark ticker: | PBP | Expense: | 49 bp | ALTAR Score™: | 4.5% |
Ticker | Fund Name |
Overlap1 vs PBP (%) |
Expense ratio (bp) |
Savings vs PBP (bp) |
ALTAR Score™ (%) |
ALTAR vs PBP (%) |
XYLG | Global X S&P 500 Covered Call & Growth ETF | 101.6 | 60 | -11 | 4.4 | -0.0 |
SPY | SPDR S&P 500 ETF Trust | 99.8 | 9 | 40 | 4.8 | +0.3 |
SPLG | SPDR Portfolio Large Cap ETF | 99.8 | 3 | 46 | 4.9 | +0.4 |
SPYX | SPDR S&P 500 Fossil Fuel Reserves Free ETF | 99.7 | 20 | 29 | 4.9 | +0.4 |
IVV | iShares Core S&P 500 ETF | 99.7 | 3 | 46 | 4.9 | +0.4 |
SPXE | ProShares S&P 500 Ex-Energy ETF | 99.0 | 27 | 22 | 4.8 | +0.3 |
VOO | VANGUARD S&P 500 ETF | 97.9 | 3 | 46 | 4.9 | +0.4 |
GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 93.9 | 7 | 42 | 4.7 | +0.2 |
BBUS | JP Morgan Betabuilders U.S. Equity ETF | 92.6 | 2 | 47 | 4.8 | +0.3 |
VV | Vanguard Large-Cap Index Fund | 92.4 | 4 | 45 | 4.7 | +0.2 |
PBUS | Invesco PureBeta MSCI USA ETF | 92.2 | 4 | 45 | 4.8 | +0.3 |
XVV | iShares ESG Screened S&P 500 ETF | 92.2 | 8 | 41 | 4.9 | +0.4 |
SPTM | SPDR Portfolio Total Stock Market ETF | 90.9 | 3 | 46 | 4.9 | +0.4 |
SCHX | Schwab U.S. Large-Cap ETF | 90.2 | 3 | 46 | 4.7 | +0.2 |
SPXV | ProShares S&P 500 Ex-Health Care ETF | 89.8 | 27 | 22 | 4.4 | -0.1 |
SPXN | ProShares S&P 500 Ex-Financials ETF | 89.4 | 27 | 22 | 4.4 | -0.1 |
ESGV | Vanguard ESG U.S. Stock ETF | 87.8 | 12 | 37 | 4.6 | +0.1 |
IWB | iShares Russell 1000 ETF | 87.6 | 15 | 34 | 4.6 | +0.1 |
JUST | Goldman Sachs JUST U.S. Large Cap Equity ETF | 87.1 | 20 | 29 | 4.7 | +0.2 |
MGC | Vanguard Mega Cap Index Fund | 87.1 | 7 | 42 | 4.8 | +0.3 |
CATH | Global X S&P 500 Catholic Values Custom ETF | 86.7 | 29 | 20 | 4.6 | +0.1 |
IYY | iShares Dow Jones U.S. ETF | 86.7 | 20 | 29 | 4.6 | +0.1 |
SCHK | Schwab 1000 Index ETF | 86.7 | 5 | 44 | 4.7 | +0.2 |
IWL | iShares Russell Top 200 ETF | 84.8 | 15 | 34 | 4.6 | +0.2 |
BKLC | BNY Mellon US Large Cap Core Equity ETF | 84.6 | 0 | 49 | 4.7 | +0.2 |
VONE | Vanguard Russell 1000 ETF | 84.2 | 8 | 41 | 4.7 | +0.2 |
VTHR | Vanguard Russell 3000 Index Fund | 82.1 | 10 | 39 | 4.5 | +0.0 |
IWV | iShares Russell 3000 ETF | 81.6 | 20 | 29 | 4.4 | -0.1 |
SCHB | Schwab U.S. Broad Market ETF | 81.3 | 3 | 46 | 4.6 | +0.1 |
ITOT | iShares Core S&P Total U.S. Stock Market ETF | 80.8 | 3 | 46 | 4.5 | +0.1 |
ESGU | iShares MSCI USA ESG Optimized ETF | 80.6 | 15 | 34 | 4.6 | +0.2 |
VTI | Vanguard Total Stock Market Index Fund | 79.0 | 3 | 46 | 4.5 | +0.1 |
SFY | SoFi Select 500 ETF | 78.9 | 0 | 49 | 4.7 | +0.3 |
DFAU | Dimensional US Core Equity Market ETF | 78.6 | 12 | 37 | 4.8 | +0.3 |
SNPE | Xtrackers S&P 500 ESG ETF | 75.6 | 10 | 39 | 4.9 | +0.4 |
EFIV | SPDR S&P 500 ESG ETF | 75.6 | 10 | 39 | 4.9 | +0.4 |
MMTM | SPDR S&P 1500 Momentum Tilt ETF | 75.0 | 12 | 37 | 4.1 | -0.4 |
JHML | John Hancock Multifactor Large Cap ETF | 74.8 | 29 | 20 | 5.0 | +0.5 |
IQSU | IQ Candriam ESG US Equity ETF | 74.7 | 9 | 40 | 4.7 | +0.2 |
SPXT | ProShares S&P 500 Ex-Technology ETF | 74.5 | 27 | 22 | 5.0 | +0.6 |
JCTR | JPMorgan Carbon Transition U.S. Equity ETF | 74.4 | 15 | 34 | 4.9 | +0.4 |
GSLC | Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF | 72.4 | 9 | 40 | 5.0 | +0.5 |
EPS | WisdomTree U.S. Earnings 500 Fund | 71.5 | 8 | 41 | 6.1 | +1.7 |
OEF | iShares S&P 100 ETF | 68.7 | 20 | 29 | 4.5 | +0.0 |
VOOG | Vanguard S&P 500 Growth ETF | 68.3 | 10 | 39 | 3.9 | -0.6 |
QUS | SPDR MSCI USA StrategicFactors ETF | 68.2 | 15 | 34 | 5.4 | +0.9 |
ESG | FlexShares STOXX US ESG Impact Index Fund | 67.4 | 32 | 17 | 4.7 | +0.2 |
SPYG | SPDR Portfolio S&P 500 Growth ETF | 67.4 | 4 | 45 | 3.9 | -0.6 |
IVW | iShares S&P 500 Growth ETF | 67.4 | 18 | 31 | 3.8 | -0.7 |
IUSG | iShares Core S&P US Growth ETF | 66.4 | 4 | 45 | 3.9 | -0.6 |
TOK | iShares MSCI Kokusai ETF | 66.0 | 25 | 24 | 4.9 | +0.5 |
KOKU | Xtrackers MSCI Kokusai Equity ETF | 65.9 | 9 | 40 | 5.1 | +0.7 |
VOOV | Vanguard S&P 500 Value ETF | 65.3 | 10 | 39 | 6.2 | +1.8 |
FNDX | Schwab Fundamental U.S. Large Co. Index ETF | 65.2 | 25 | 24 | 5.6 | +1.2 |
PRF | Invesco FTSE RAFI US 1000 ETF | 65.2 | 39 | 10 | 5.7 | +1.2 |
DIVB | iShares U.S. Dividend & Buyback ETF | 64.2 | 25 | 24 | 6.0 | +1.5 |
AVUS | Avantis U.S. Equity ETF | 64.0 | 15 | 34 | 5.0 | +0.5 |
XOUT | GraniteShares XOUT U.S. Large Cap ETF | 63.0 | 60 | -11 | 3.7 | -0.8 |
SPYV | SPDR Portfolio S&P 500 Value ETF | 63.0 | 4 | 45 | 6.3 | +1.8 |
IVE | iShares S&P 500 Value ETF | 62.9 | 18 | 31 | 6.1 | +1.7 |
TILT | Flexshares Morningstar US Market Factors Tilt Index Fund | 62.6 | 25 | 24 | 5.0 | +0.5 |
FNDB | Schwab Fundamental U.S. Broad Market Index ETF | 62.4 | 25 | 24 | 5.5 | +1.0 |
IUSV | iShares Core S&P U.S. Value ETF | 61.7 | 4 | 45 | 6.3 | +1.8 |
PLC | Principal U.S. Large-Cap Multi-Factor Core Index ETF | 61.2 | 15 | 34 | 0.0 | -4.5 |
IUS | Invesco Strategic US ETF | 61.1 | 19 | 30 | 5.2 | +0.8 |
URTH | iShares MSCI World ETF | 61.0 | 24 | 25 | 5.1 | +0.6 |
RWL | Invesco S&P 500 Revenue ETF | 60.8 | 39 | 10 | 6.1 | +1.6 |
DYNF | BlackRock U.S. Equity Factor Rotation ETF | 60.1 | 30 | 19 | 5.2 | +0.7 |
IWF | iShares Russell 1000 Growth ETF | 59.0 | 19 | 30 | 3.6 | -0.9 |
VONG | Vanguard Russell 1000 Growth Index Fund | 58.6 | 8 | 41 | 3.7 | -0.8 |
VLU | SPDR S&P 1500 Value Tilt ETF | 57.7 | 12 | 37 | 5.9 | +1.4 |
VONV | Vanguard Russell 1000 Value Index Fund | 57.6 | 8 | 41 | 6.1 | +1.6 |
SCHV | Schwab U.S. Large-Cap Value ETF | 56.9 | 4 | 45 | 6.1 | +1.6 |
IWD | iShares Russell 1000 Value ETF | 56.8 | 19 | 30 | 5.9 | +1.5 |
HIPR | Direxion High Growth ETF | 56.6 | 40 | 9 | 4.1 | -0.4 |
DLN | WisdomTree U.S. LargeCap Dividend Fund | 56.5 | 28 | 21 | 6.4 | +1.9 |
VUG | Vanguard Growth Index Fund | 56.4 | 4 | 45 | 3.5 | -1.0 |
MFUS | PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF | 56.3 | 30 | 19 | 5.1 | +0.6 |
DSI | iShares MSCI KLD 400 Social ETF | 56.3 | 25 | 24 | 4.6 | +0.2 |
NACP | Impact Shares NAACP Minority Empowerment ETF | 55.9 | 49 | 0 | 4.9 | +0.5 |
RESP | WisdomTree US ESG Fund of Benef Interest | 55.5 | 28 | 21 | 5.4 | +0.9 |
WOMN | Impact Shares YWCA Women's Empowerment ETF | 55.1 | 75 | -26 | 3.7 | -0.8 |
DTD | WisdomTree U.S.Total Dividend Fund | 55.1 | 28 | 21 | 6.4 | +1.9 |
XLG | Invesco S&P 500 Top 50 ETF | 54.8 | 20 | 29 | 4.3 | -0.2 |
IWY | iShares Russell Top 200 Growth ETF | 54.1 | 20 | 29 | 3.8 | -0.7 |
ESGG | FlexShares STOXX Global ESG Impact Index Fund | 54.1 | 42 | 7 | 4.8 | +0.4 |
SPUS | SP Funds S&P 500 Sharia Industry Exclusions ETF | 53.8 | 49 | 0 | 3.7 | -0.8 |
ACWI | iShares MSCI ACWI ETF | 52.4 | 32 | 17 | 5.2 | +0.7 |
KRMA | Global X Conscious Companies ETF | 52.3 | 43 | 6 | 5.1 | +0.7 |
RECS | Columbia Research Enhanced Core ETF | 52.2 | 15 | 34 | 5.4 | +0.9 |
USSG | Xtrackers MSCI USA ESG Leaders Equity ETF | 51.7 | 10 | 39 | 5.0 | +0.5 |
SUSL | iShares ESG MSCI USA Leaders ETF | 51.7 | 10 | 39 | 4.9 | +0.5 |
CRBN | iShares MSCI ACWI Low Carbon Target ETF | 51.5 | 20 | 29 | 5.4 | +0.9 |
LOWC | SPDR MSCI ACWI Low Carbon Target ETF | 51.5 | 20 | 29 | 5.4 | +0.9 |
RSP | Invesco S&P 500 Equal Weight ETF | 51.0 | 20 | 29 | 5.4 | +0.9 |
QARP | Xtrackers Russell 1000 US Quality at a Reasonable Price ETF | 50.9 | 19 | 30 | 5.2 | +0.7 |
AFLG | First Trust Active Factor Large Cap ETF | 50.9 | 55 | -6 | 4.8 | +0.3 |
QWLD | SPDR MSCI World StrategicFactors ETF | 50.9 | 30 | 19 | 5.5 | +1.1 |
1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.
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RESULTS & ESTIMATES
2016 | 2017 | 2018 | 2019 | 2020 | 2021E | 2022E | |
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Sales per share | ** | ** | ** | ** | ** | ** | ** |
Earnings per share | ** | ** | ** | ** | ** | ** | ** |
Dividends per share ![]() |
** | ** | ** | ** | ** | ** | ** |
Book value per share | ** | ** | ** | ** | ** | ** | ** |
Sales per share growth | **% | **% | **% | **% | **% | **% | |
EPS growth | **% | **% | **% | **% | **% | **% |
Sales per share growth | **% | **% | **% | **% | **% | **% | |
EPS growth | **% | **% | **% | **% | **% | **% |
OTHER FUNDAMENTAL METRICS
Long term EPS growth est. | **% | Debt-to-equity | **x | |
Asset turnover | **% | Assets-to-equity | **x |
*Six months ago = 100 |
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VALUATION METRICS
2020 | 2021E | 2022E | |
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Price-to-sales | ** | ** | ** |
Price-to-earnings | ** | ** | ** |
Price-to-cash flow | ** | ** | ** |
Price-to-growth | ** | ** | ** |
Price-to-book value | ** | ** | ** |
Yield | ** | ** | ** |
Historical valuation trends
Forward multiple: |
Invesco S&P 500 BuyWrite ETF | |||
Relative to: |
S&P500 | MSCI EAFE | MSCI Emg. Mkts. | Other ETF: |
NEUTRAL |
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds. |
ALTAR Score™
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MODERN PORTFOLIO THEORY
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CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
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