PBPvsSPYIETF Comparison
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Invesco S&P 500 BuyWrite ETF (PBP) and NEOS S&P 500 High Income ETF (SPYI) belong to the same industry segment: Options Strategies. Both ETFs have the same top 3 sector exposures: Information Technology, Financials and Communication Services. PBP is less expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.68% for SPYI. PBP is up 2.36% year-to-date (YTD) with +$8M in YTD flows. SPYI performs better with 3.68% YTD performance, and +$2.31B in YTD flows. Run a side-by-side ETF comparison of PBP and SPYI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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PBP vs SPYI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PBP SPYI | +5.38%+9.63% | +1.04%+1.87% | +2.36%+3.68% | +16.97%+25.56% | +38.84%+57.10% | +47.13%n/a |
| Flows | PBP SPYI | +$9M+$589M | +$16M+$1.72B | +$8M+$2.31B | +$189M+$5.53B | +$232M+$8.93B | +$163M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PBP SPYI | +10.41%+13.40% | +6.90%+10.10% | +10.31%+12.51% | +11.37%n/a |
| Max drawdown | PBP SPYI | -5.24%-7.69% | -5.24%-7.69% | -15.51%-16.58% | -18.35%n/a |
| Max drawdown duration | PBP SPYI | 61d48d | 61d48d | 240d125d | 679dn/a |
Trading data
PBP | SPYI | |
Last sale 4/27/2026 at 7:56 PM | $22.52 | $52.10 |
| Previous close 04/27/2026 | $22.48 | $52.20 |
| Consolidated volume 04/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 2026
1-year trailing difference
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SPYI
is actively managed and doesn’t replicate an indexPBP | SPYI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 4/27/2026 at 7:56 PM
Live
Closed
PBP | SPYI | |
|---|---|---|
| Last price | $22.52 | $52.10 |
| 1D performance | +0.18% | -0.20% |
| AuM | $333.82 M | $9.17 B |
| E/R | 0.29% | 0.68% |
Characteristics
PBP | SPYI | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Invesco | NEOS Investment Management |
| Benchmark | CBOE S&P 500 BuyWrite Index | - |
| N° of holdings | 478 | 478 |
| Asset class | Alternative | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 20, 2007 | August 30, 2022 |
| ESG | No | No |
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Exposure
Countries
PBP
USA
98.16%
Other
1.84%
SPYI
USA
96.35%
Other
3.65%
Sectors
PBP
Information Techn.
34.3%
Financials
10.44%
Communication Ser.
10.14%
Consumer Discreti.
10.07%
Health Care
9.46%
Industrials
8.51%
Other
17.08%
SPYI
Information Techn.
33.54%
Financials
10.37%
Communication Ser.
10.05%
Consumer Discreti.
9.96%
Health Care
9.36%
Industrials
8.06%
Other
18.66%
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Diversification
PBP
Total weight of top 15 holdings out of 15
42.59%
SPYI
Total weight of top 15 holdings out of 15
42.27%
Top 15 holdings
Data as of March 31, 2026
PBP
NVIDIA
7.56%
APPLE
6.78%
MICROSOFT-T
4.92%
AMAZON.COM INC
3.62%
ALPHABET INC-CL
2.97%
BROADCOM LIMITED
2.65%
ALPHABET INC-CL
2.38%
META PLATFORMS
2.13%
TESLA
1.89%
BERKSHIRE HATHWAY
1.59%
JPMORGAN CHASE
1.42%
EXXON
1.33%
LILLY
1.29%
JOHNSON&JOHNSON
1.08%
WALMART INC
1.00%
SPYI
NVIDIA
7.40%
APPLE
6.74%
MICROSOFT-T
4.92%
AMAZON.COM INC
3.62%
ALPHABET INC-CL
2.93%
BROADCOM LIMITED
2.55%
ALPHABET INC-CL
2.34%
META PLATFORMS
2.16%
TESLA
1.84%
BERKSHIRE HATHWAY
1.61%
JPMORGAN CHASE
1.43%
EXXON
1.34%
LILLY
1.31%
JOHNSON&JOHNSON
1.08%
WALMART INC
1.00%
Frequently asked questions about PBP and SPYI
How have the PBP and SPYI ETFs performed in 2026?
As of April 27, 2026, PBP is up 2.36% year-to-date (YTD), while SPYI has returned 3.68%. That puts SPYI better performer ahead so far this year.
Which ETF is attracting more investor money: PBP or SPYI?
Year-to-date, the PBP ETF saw +$8M in flows, compared to +$2.31B for SPYI.
Which ETF is more volatile: PBP or SPYI?
Over the past year, PBP had a volatility of 6.9%, while SPYI experienced 10.1%.
Which ETF is bigger: PBP or SPYI?
As of April 27, 2026, PBP holds $333.82 M in assets under management (AUM), while SPYI manages $9.17 B.
What sectors do the PBP and SPYI ETFs invest in?
PBP leans toward sectors like Information Technology, Financials and Communication Services. Meanwhile, SPYI focuses on Information Technology, Financials and Communication Services.
What are the top holdings of the PBP ETF and SPYI ETF?
PBP top holdings include NVIDIA, APPLE and MICROSOFT-T. SPYI holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: PBP or SPYI?
PBP holds 503 securities with 42.59% of its assets in the top 15. SPYI has 502 securities and a top 15 weight of 42.27%.
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