Data as of Nov 4, 2026.
PBP vs QYLD: Dividend Yield & Total Return
Over the year to Nov 4, 2026, QYLD paid 12.3% of its price in cash against PBP’s 11.7% and the two finished level on total return.
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Net assets: $389m on Nov 3, 2026 for Invesco S&P 500 BuyWrite ETF, and $8.5bn on Oct 12, 2026 for Global X NASDAQ 100 Covered Call ETF.
1.4 pts ahead of SPY
PBP over 1 year: paid 11.7%, price +3.6%, total +16.2%, SPY +14.8%, +1.4 pts. Data to Nov 4, 2026.
SPY
+14.8%
PBP
+16.2%
11.7% of it arrived as cash
1.4 pts ahead of SPY
Total return, distributions reinvested
1.4 pts ahead of SPY
PBP over 1 year: paid 11.7%, price +3.6%, total +16.2%, SPY +14.8%, +1.4 pts. Data to Nov 4, 2026.
SPY
+14.8%
PBP
+16.2%
11.7% as cash
1.4 pts ahead of SPY
11.7% of it arrived as cash. Total return, distributions reinvested. PBP over 1 year: paid 11.7%, price +3.6%, total +16.2%, SPY +14.8%, +1.4 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.4.2 pts ahead of QQQ
QYLD over 1 year: paid 12.3%, price +3.3%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.
QQQ
+12.3%
QYLD
+16.5%
12.3% of it arrived as cash
4.2 pts ahead of QQQ
Total return, distributions reinvested
4.2 pts ahead of QQQ
QYLD over 1 year: paid 12.3%, price +3.3%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.
QQQ
+12.3%
QYLD
+16.5%
12.3% as cash
4.2 pts ahead of QQQ
12.3% of it arrived as cash. Both charts share one scale, 0 to +16.5%. QYLD over 1 year: paid 12.3%, price +3.3%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.
Both charts share one scale, 0 to +16.5%. Data to Nov 4, 2026.Pair scorecard
PBP costs 0.31 points a year less; their one-year returns differ by 0.3 points; QYLD is far larger, $8.5bn against $392m.
Points (pts) are percentage points.
| Measure | PBP | QYLD |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +16.2% | +16.5% |
| Price change, 1 year | rose 3.6% | rose 3.3% |
| Return of capital, issuer estimate | 95% of the Oct 23, 2026 payment | 99% of the Sep 24, 2026 payment |
| Against its benchmark | ||
| Benchmark | S&P 500, measured through SPY | Nasdaq-100, measured through QQQ |
| Cost and size | ||
| Expense ratio | 0.29% | 0.60% |
| Net assets, as of Oct 12, 2026 | $392m | $8.5bn |
| Holdings | ||
| Holdings in common | 53% | |
How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed
One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →
Risk and return
Dec 20, 2013 to Oct 30, 2026 · 671 weekly returnsEach against its own benchmark: PBP against SPY, Dec 28, 2007 to Oct 30, 2026; QYLD against QQQ, Dec 20, 2013 to Oct 30, 2026.
From Dec 2013 to Oct 2026, QYLD returned more: +189.6% to +134.8%. PBP swung less: 11.0% to 12.3%. QYLD fell less at its worst: −24.5% to −29.3%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | PBP | QYLD | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +134.8% | +189.6% | QYLD | Price change plus distributions, reinvested. |
| Annualized | +6.8% | +8.6% | QYLD | Total return as a yearly rate. |
| Price return | +12.0% | −29.5% | PBP | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 11.0% | 12.3% | PBP | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 8.7% | 9.2% | PBP (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −29.3% | −24.5% | QYLD | Deepest fall from a high to the low after it. |
| Upside capture | 43.1% | 37.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 66.8% | 64.8% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.63 | 0.55 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.78 | 0.77 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.48 | 0.57 | QYLD | Return above Treasury bills per unit of volatility. |
| Sortino | 0.61 | 0.76 | QYLD | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.072 | 0.127 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.23 | 0.35 | QYLD | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SPY | QQQ | The ETF each fund is measured against. | |
| Alpha | −2.2% a year | −2.3% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.56 | −1.37 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −5.0% to +0.6% | −5.5% to +1.0% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.68 | −0.93 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 9.1% | 10.6% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 671 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, PBP and QYLD hold 53% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.
half
53% in common
Only in one fund ↓
Side by side
As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.
Window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | PBP | QYLD | PBP | QYLD | PBP | QYLD |
| 3 months | +2.5% | +2.4% | 2.5% | 3.0% | +2.6 pts | +5.9 pts |
| 6 months | +8.1% | +5.4% | 5.3% | 6.0% | +3.1 pts | +5.8 pts |
| 1 year | +16.2% | +16.5% | 11.7% | 12.3% | +1.4 pts | +4.2 pts |
| 3 years | +49.6% | +52.7% | 33.4% | 37.9% | −33.3 pts | −38.6 pts |
| Since launchNot the same days: PBP Dec 2007 · QYLD Dec 2013 | +172.0% | +194.8% | 92.4% | 117.5% | −467.6 pts | −610.5 pts |
Client brief:
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PBP
Over the year to Nov 4, 2026, PBP paid 11.7% of its starting value in cash distributions while its price rose 3.6%. With every distribution reinvested, the fund returned +16.2%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was ahead by 1.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 8.5%, paid monthly. Invesco estimates that 95% of the distribution paid Oct 23, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
QYLD
Over the year to Nov 4, 2026, QYLD paid 12.3% of its starting value in cash distributions while its price rose 3.3%. With every distribution reinvested, the fund returned +16.5%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was ahead by 4.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 12.2%, paid monthly. Global X estimates that 99% of the distribution paid Sep 24, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, PBP against QYLD, data as of Nov 4, 2026. https://etfiq.com/compare/income/pbp-vs-qyld
ETFIQ. (Nov 4, 2026). PBP against QYLD. Retrieved from https://etfiq.com/compare/income/pbp-vs-qyld
[PBP against QYLD (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/pbp-vs-qyld)
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