Invesco S&P 500 BuyWrite ETF (PBP) Performance
PBP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +10.6% since Dec 31, 2025
- 1 year
- +14.4% total return
- 5 years
- +6.7% a year
- 10 years
- +6.9% a year
- Since first price
- +5.1% a year since 2007
PBP trailing returns vs SPY, QQQ, AGG
| Period | PBP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.5% | −0.2% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.7% | +1.2% | +3.2% | +1.9% | −0.4% |
| 6 months | +8.7% | +3.2% | +7.8% | +8.4% | −1.5% |
| YTD | +10.6% | +1.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +14.4% | +3.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +44.2%+13.0%/yr | +10.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +38.4%+6.7%/yr | −3.0% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +94.8%+6.9%/yr | +9.3% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +178.7%+7.1%/yr | +14.0% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionDec 20, 2007 | +156.1%+5.1%/yr | −7.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PBP vs SPY
From Dec 20, 2007: PBP grew to $25,607, SPY to $73,251.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PBP returns by calendar year
14 of 18 full years positive. Best 2009 (+24.0%), worst 2008 (−29.3%). 2026 is year to date.
PBP annual returns table
| Year | PBP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +10.6% | −5.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +3.5% | −16.8% | +17.7% | +20.8% | +7.2% |
| 2024 | +19.8% | −5.5% | +24.9% | +25.6% | +1.3% |
| 2023 | +11.6% | −6.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −11.8% | −18.6% | −18.2% | −32.6% | −13.0% |
| 2021 | +20.0% | −3.2% | +28.7% | +27.4% | −1.8% |
| 2020 | −3.3% | −33.3% | +18.3% | +48.6% | +7.5% |
| 2019 | +15.2% | −4.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −5.6% | −15.8% | −4.6% | −0.1% | +0.1% |
| 2017 | +12.0% | −2.0% | +21.7% | +32.7% | +3.6% |
| 2016 | +6.4% | −7.0% | +12.0% | +7.1% | +2.4% |
| 2015 | +4.1% | −9.9% | +1.2% | +9.4% | +0.5% |
| 2014 | +4.8% | −7.6% | +13.5% | +19.2% | +6.0% |
| 2013 | +12.9% | −3.9% | +32.3% | +36.6% | −2.0% |
| 2012 | +4.5% | −6.5% | +16.0% | +18.1% | +3.8% |
| 2011 | +4.4% | −14.4% | +1.9% | +3.4% | +7.7% |
| 2010 | +4.9% | −11.9% | +15.1% | +19.9% | +6.4% |
| 2009 | +24.0% | −17.6% | +26.4% | +54.7% | +3.0% |
| 2008 | −29.3% | −36.7% | −36.8% | −41.7% | +7.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PBP largest drawdowns
Now 1.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 30, 2008 | −43.4% | Mar 9, 2009 | Apr 10, 2013 | 10 months | 4.9 years |
| Feb 19, 2020 | −33.3% | Mar 23, 2020 | Apr 6, 2021 | 33 days | 1.1 years |
| Apr 13, 2022 | −18.6% | Sep 30, 2022 | Feb 23, 2024 | 6 months | 1.9 years |
| Feb 19, 2025 | −16.8% | Apr 8, 2025 | Nov 25, 2025 | 48 days | 9 months |
| Sep 21, 2018 | −15.8% | Dec 24, 2018 | Nov 7, 2019 | 3 months | 1.1 years |
| Dec 24, 2007 | −10.0% | Jan 22, 2008 | Apr 30, 2008 | 29 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PBP risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +12.7% | +7.5% | +7.0% | +5.0% |
| Volatility (annualized) | 6.7% | 9.1% | 10.2% | 11.3% |
| Sharpe ratio | 1.19 | 0.45 | 0.49 | 0.38 |
| Sortino ratio | 1.74 | 0.63 | 0.64 | 0.50 |
| Best month | +4.2% | +6.1% | +8.5% | +9.5% |
| Worst month | −5.7% | −6.9% | −14.7% | −15.3% |
| Best 12 months | +19.8% | +19.8% | +31.1% | +37.4% |
| Worst 12 months | +3.5% | −12.3% | −15.8% | −33.3% |
| Positive months | 81% | 70% | 72% | 68% |
| Beta vs S&P 500 | 0.41 | 0.50 | 0.58 | — |
| Correlation with S&P 500 | 0.76 | 0.86 | 0.87 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PBP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 215 | −33.3% | +6.4% | +37.4% | 81% |
| 3-year (a year) | 191 | −3.5% | +6.4% | +16.3% | 91% |
| 5-year (a year) | 167 | +0.1% | +6.3% | +12.8% | 100% |
| 10-year (a year) | 107 | +3.3% | +5.6% | +8.7% | 100% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
PBP performance overview
Invesco S&P 500 BuyWrite ETF (PBP) returned +14.4% over the past year and +6.9% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +5.1% a year, turning $10,000 into about $25,607. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −43.4%, from Apr 30, 2008 to Mar 9, 2009, and it took 4.1 years to get back to the old high. PBP finished 14 of its 18 full calendar years with a gain; the best year was 2009 (+24.0%) and the worst 2008 (−29.3%). Volatility has been 11.3% a year.
Related: PBP chart, PBP holdings, PBP dividends, PBP valuation. See the PBP overview for the latest quote and fund facts.
PBP performance FAQ
What is the PBP return over the past year?
PBP returned +14.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 3.2%.
What is the average annual return of PBP?
PBP has returned +6.7% a year over 5 years, +6.9% a year over 10 years, +5.1% a year since December 20, 2007 (total return, distributions reinvested).
How much would $10,000 invested in PBP be worth?
$10,000 invested in PBP at its first recorded close on December 20, 2007 would be worth about $25,607 on October 23, 2026 with distributions reinvested.
What was the worst year for PBP?
The worst calendar year was 2008, with a total return of −29.3%. The best was 2009 at +24.0%.
What is the biggest drawdown of PBP?
The largest peak-to-trough decline was −43.4% between April 30, 2008 and March 9, 2009. It recovered to the old high on April 10, 2013, 4.1 years after the bottom.
How volatile is PBP?
Over the past 3 years PBP had an annualized volatility of 6.7% and a Sharpe ratio of 1.19 (excess return over 1–3 month T-bills per unit of risk).