IVV vs PBP
IVV vs PBP
iShares Core S&P 500 ETF vs Invesco S&P 500 BuyWrite ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | PBP | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.29% | |
| AUM | $865.2B | $354M | |
| Dividend Yield | 1.09% | 10.25% | |
| Holdings | 508 | 506 | |
| YTD Return | +13.80% | +2.14% | |
| 1Y Return | +23.70% | +9.57% | |
| 3Y Return (annualized) | +21.49% | +11.93% | |
| 5Y Return (annualized) | +13.43% | +8.01% | |
| Volatility (annualized) | 15.1% | 49.5% | |
| Max Drawdown | -56.5% | -79.6% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Dec 20, 2007 |
IVV vs PBP Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco S&P 500 BuyWrite ETF (PBP) is a ETF from Invesco (US). Over the past year IVV returned +23.70% while PBP returned +9.57%. Year to date, IVV is up 13.80% versus a gain of 2.14% for PBP.
Over three years, IVV compounded at +21.49% per year against +11.93% for PBP; over five years the annualized figures are +13.43% and +8.01% respectively. Across the full 19-year window we track, IVV has the edge at +7.05% annualized vs +5.63%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PBP has been the more volatile fund, with annualized monthly volatility of 49.5% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -79.6% for PBP. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.13. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PBP charges 0.29%. On a $10,000 position that is $3 vs $29 annually, a gap of $26 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 10.25% for PBP.
Holdings Overlap
IVV and PBP share 488 holdings out of 516 unique holdings combined, representing a 92.2% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in IVV | Weight in PBP | Difference |
|---|---|---|---|
| NVDA | 7.76% | 7.45% | 0.31% |
| AAPL | 7.44% | 6.53% | 0.91% |
| MSFT | 4.57% | 4.32% | 0.25% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
See all 10 holdings IVV shares with PBP Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, IVV or PBP?
IVV has an expense ratio of 0.03% while PBP charges 0.29%. IVV is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, IVV or PBP?
Over the past year IVV returned +23.70% vs +9.57% for PBP, so IVV leads on 1-year performance. Over the longest common window we track (19 years), IVV annualized +7.05% vs +5.63% for PBP. Past performance does not guarantee future results.
Which is riskier, IVV or PBP?
PBP has been the more volatile fund at 49.5% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PBP -79.6%.
Should I hold both IVV and PBP?
IVV and PBP have a monthly-return correlation of 0.13, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PBP?
IVV and PBP share 488 common holdings with a 92.2% weight overlap. Combined, they hold 516 unique securities.
Which pays a higher dividend, IVV or PBP?
IVV yields 1.09% while PBP yields 10.25%, so PBP currently pays the higher dividend yield.
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