PBP vs SCHD
PBP vs SCHD
Invesco S&P 500 BuyWrite ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. PBP offers more diversification with 499 holdings.
Side-by-Side Comparison
| Metric | PBP | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.06% | |
| AUM | $354M | $103.7B | |
| Dividend Yield | 10.25% | 3.31% | |
| Holdings | 506 | 104 | |
| YTD Return | +1.79% | +24.08% | |
| 1Y Return | +9.44% | +31.88% | |
| 3Y Return (annualized) | +11.68% | +14.92% | |
| 5Y Return (annualized) | +8.05% | +9.85% | |
| Volatility (annualized) | 49.5% | 13.6% | |
| Max Drawdown | -79.6% | -33.4% | |
| Fund Family | Invesco (US) | Charles Schwab Asset Management | |
| Category | Equity | Equity | |
| Inception | Dec 20, 2007 | Oct 20, 2011 |
PBP vs SCHD Performance
Invesco S&P 500 BuyWrite ETF (PBP) is a ETF from Invesco (US) and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year PBP returned +9.44% while SCHD returned +31.88%. Year to date, PBP is up 1.79% versus a gain of 24.08% for SCHD.
Over three years, PBP compounded at +11.68% per year against +14.92% for SCHD; over five years the annualized figures are +8.05% and +9.85% respectively. Across the full 15-year window we track, SCHD has the edge at +11.39% annualized vs +5.62%. 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 13.6% for SCHD. 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 -79.6% for PBP and -33.4% for SCHD. 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PBP charges 0.29% per year while SCHD charges 0.06%. On a $10,000 position that is $29 vs $6 annually, a gap of $23 per year that compounds over a long holding period. On income, PBP currently yields 10.25% against 3.31% for SCHD.
Holdings Overlap
PBP and SCHD share 46 holdings out of 553 unique holdings combined, representing a 7.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in PBP | Weight in SCHD | Difference |
|---|---|---|---|
| UNH | 0.60% | 4.54% | 3.94% |
| MRK | 0.51% | 4.32% | 3.81% |
| ABT | 0.25% | 4.49% | 4.24% |
| HD | Pro | Pro | Pro |
| PG | Pro | Pro | Pro |
| KO | Pro | Pro | Pro |
| AMGN | Pro | Pro | Pro |
| CVX | Pro | Pro | Pro |
| TXN | Pro | Pro | Pro |
| PEP | Pro | Pro | Pro |
See all 10 holdings PBP shares with SCHD 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, PBP or SCHD?
PBP has an expense ratio of 0.29% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $23 per year of difference.
Which performed better, PBP or SCHD?
Over the past year PBP returned +9.44% vs +31.88% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (15 years), PBP annualized +5.62% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, PBP or SCHD?
PBP has been the more volatile fund at 49.5% annualized versus 13.6% for SCHD. Worst drawdown: PBP -79.6% vs SCHD -33.4%.
Should I hold both PBP and SCHD?
PBP and SCHD have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PBP and SCHD?
PBP and SCHD share 46 common holdings with a 7.8% weight overlap. Combined, they hold 553 unique securities.
Which pays a higher dividend, PBP or SCHD?
PBP yields 10.25% while SCHD yields 3.31%, so PBP currently pays the higher dividend yield.
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