SPYHvsPBPETF Comparison
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NEOS S&P 500 Hedged Equity Income ETF (SPYH) and Invesco S&P 500 BuyWrite ETF (PBP) belong to the same industry segment: Options Strategies. Both ETFs have the same top 3 sector exposures: Information Technology, Financials and Communication Services. SPYH is more expensive with a Total Expense Ratio (TER) of 0.68%, versus 0.29% for PBP. SPYH is up 2.15% year-to-date (YTD) with +$9M in YTD flows. PBP performs better with 2.23% YTD performance, and +$8M in YTD flows. Run a side-by-side ETF comparison of SPYH and PBP 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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SPYH vs PBP performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SPYH PBP | +6.67%+5.33% | +0.57%+0.93% | +2.15%+2.23% | +21.29%+16.83% | n/a+38.11% | n/a+46.95% |
| Flows | SPYH PBP | -+$9M | +$7M+$10M | +$9M+$8M | +$25M+$189M | -+$232M | -+$163M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SPYH PBP | +9.64%+10.41% | +8.20%+6.89% | n/a+10.30% | n/a+11.37% |
| Max drawdown | SPYH PBP | -5.98%-5.24% | -5.98%-5.24% | n/a-15.51% | n/a-18.35% |
| Max drawdown duration | SPYH PBP | 50d62d | 50d62d | n/a240d | n/a679d |
Trading data
SPYH | PBP | |
Last sale 4/29/2026 at 1:30 PM | $54.74 | $22.49 |
| Previous close 04/28/2026 | $55.17 | $22.50 |
| Consolidated volume 04/28/2026 | ||
| 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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SPYH
is actively managed and doesn’t replicate an indexSPYH | PBP | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 4/29/2026 at 1:30 PM
Live
Closed
SPYH | PBP | |
|---|---|---|
| Last price | $54.74 | $22.49 |
| 1D performance | -0.79% | -0.04% |
| AuM | $27.03 M | $333.41 M |
| E/R | 0.68% | 0.29% |
Characteristics
SPYH | PBP | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | NEOS Investment Management | Invesco |
| Benchmark | - | CBOE S&P 500 BuyWrite Index |
| N° of holdings | 455 | 478 |
| Asset class | - | Alternative |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 2, 2025 | December 20, 2007 |
| ESG | No | No |
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Exposure
Countries
SPYH
USA
94.41%
Other
5.59%
PBP
USA
98.16%
Other
1.84%
Sectors
SPYH
Information Techn.
32.63%
Financials
10.38%
Communication Ser.
10.01%
Consumer Discreti.
9.43%
Health Care
9.08%
Industrials
7.69%
Other
20.78%
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%
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Diversification
SPYH
Total weight of top 15 holdings out of 15
41.4%
PBP
Total weight of top 15 holdings out of 15
42.59%
Top 15 holdings
Data as of March 31, 2026
SPYH
NVIDIA
7.26%
APPLE
6.61%
MICROSOFT-T
4.77%
AMAZON.COM INC
3.56%
ALPHABET INC-CL
2.88%
BROADCOM LIMITED
2.51%
ALPHABET INC-CL
2.30%
META PLATFORMS
2.12%
TESLA
1.80%
BERKSHIRE HATHWAY
1.59%
JPMORGAN CHASE
1.43%
EXXON
1.31%
LILLY
1.22%
JOHNSON&JOHNSON
1.05%
WALMART INC
0.99%
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%
Frequently asked questions about SPYH and PBP
How have the SPYH and PBP ETFs performed in 2026?
As of April 28, 2026, SPYH is up 2.15% year-to-date (YTD), while PBP has returned 2.23%. That puts PBP better performer ahead so far this year.
Which ETF is attracting more investor money: SPYH or PBP?
Year-to-date, the SPYH ETF saw +$9M in flows, compared to +$8M for PBP.
Which ETF is more volatile: SPYH or PBP?
Over the past year, SPYH had a volatility of 8.2%, while PBP experienced 6.89%.
Which ETF is bigger: SPYH or PBP?
As of April 28, 2026, SPYH holds $27.03 M in assets under management (AUM), while PBP manages $333.41 M.
What sectors do the SPYH and PBP ETFs invest in?
SPYH leans toward sectors like Information Technology, Financials and Communication Services. Meanwhile, PBP focuses on Information Technology, Financials and Communication Services.
What are the top holdings of the SPYH ETF and PBP ETF?
SPYH top holdings include NVIDIA, APPLE and MICROSOFT-T. PBP holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: SPYH or PBP?
SPYH holds 479 securities with 41.4% of its assets in the top 15. PBP has 503 securities and a top 15 weight of 42.59%.
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