PBP vs VTI
Invesco S&P 500 BuyWrite ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, PBP or VTI?
All Cap Blend against Large Cap Blend.
VTI has a lower expense ratio. VTI led over 1Y, 3Y, 5Y and the full window. VTI is less concentrated, with 33.5% of the fund in its ten largest positions against 38.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PBP | VTI |
|---|---|---|
| Expense Ratio | 0.29% | 0.03%Best |
| AUM | $393M | $689.2B |
| Dividend Yield | 10.46% | 1.06% |
| Holdings | 1,017 | 3,524 |
| YTD Return | +2.84% | +13.02%Best |
| 1Y Return | +7.83% | +16.63%Best |
| 3Y Return (annualized) | +12.77% | +21.97%Best |
| 5Y Return (annualized) | +7.49% | +11.99%Best |
| Volatility (annualized) | 49.3% | 16.1%Best |
| Max Drawdown | -79.6% | -54.5%Best |
| $10,000 over 5 years | $14,350 | $17,616Best |
| Top 10 Weight | 38.4% | 33.5%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Dec 20, 2007 | May 24, 2001 |
Volatility and max drawdown are measured over the window both funds cover: Dec 20, 2007 to Oct 14, 2026 (18.8 years).
PBP vs VTI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 18.8 years both funds cover.
PBP vs VTI Performance
Invesco S&P 500 BuyWrite ETF (PBP) is an ETF from Invesco (US) and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year PBP returned +7.83% while VTI returned +16.63%. Year to date, PBP is up 2.84% versus a gain of 13.02% for VTI.
Over three years, PBP compounded at +12.77% per year against +21.97% for VTI; over five years the annualized figures are +7.49% and +11.99% respectively. Across the full 19-year window we track, VTI has the edge at +9.63% annualized vs +5.61%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PBP has been the more volatile fund, with annualized monthly volatility of 49.3% compared with 16.1% for VTI. 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 -54.5% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.13. They move largely independently of each other.
Fees and Cost Over Time
PBP charges 0.29% per year while VTI charges 0.03%. On a $10,000 position that is $29 vs $3 annually, a gap of $26 per year that compounds over a long holding period. On income, PBP currently yields 10.46% against 1.06% for VTI.
Holdings Overlap
99.9% of PBP's money is in holdings VTI also owns. 88.2% of VTI's money is in holdings PBP also owns.
Most of PBP is already inside VTI. Owning both mostly buys the same companies twice.
495 positions in common, counted across the 505 positions we hold weights for in PBP and 3,441 in VTI, against full books of 1,017 and 3,524.
What only one of them owns
Our book lists 664 positions for VTI that do not appear in our book for PBP (9.5% of the fund), and 7 for PBP that do not appear in VTI (0.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PBP | Weight in VTI | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.07% | 6.88% | 1.19% |
| AAPLApple, Inc | 7.44% | 6.30% | 1.14% |
| MSFTMicrosoft Corp | 5.61% | 5.11% | 0.50% |
| AMZNAmazon.Com Inc | 3.83% | 3.41% | 0.42% |
| GOOGLAlphabet Inc | 3.03% | 2.70% | 0.33% |
| AVGOBroadcom Inc | 2.61% | 2.38% | 0.23% |
| GOOGAlphabet Inc. C | 2.42% | 2.12% | 0.30% |
| METAMeta Platforms Inc | 2.17% | 1.70% | 0.47% |
| MUMicron Technology, Inc. | 1.68% | 1.46% | 0.22% |
| TSLATesla Inc | 1.57% | 1.40% | 0.17% |
99.9% of PBP is already inside VTI.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PBP or VTI?
PBP has an expense ratio of 0.29% while VTI charges 0.03%. VTI is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, PBP or VTI?
Over the past year PBP returned +7.83% vs +16.63% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (19 years), PBP annualized +5.61% vs +9.63% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PBP or VTI?
PBP has been the more volatile fund at 49.3% annualized versus 16.1% for VTI. Worst drawdown: PBP -79.6% vs VTI -54.5%.
Should I hold both PBP and VTI?
PBP and VTI have a monthly-return correlation of 0.13, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PBP and VTI?
99.9% of PBP's money is in holdings VTI also owns. 88.2% of VTI's is in holdings PBP also owns. They hold 495 positions in common, counted across the 505 positions we hold weights for in PBP and 3,441 in VTI.
Which pays a higher dividend, PBP or VTI?
PBP yields 10.46% while VTI yields 1.06%, so PBP currently pays the higher dividend yield.
Is VTI better than PBP?
VTI has a lower expense ratio. VTI led over 1Y, 3Y, 5Y and the full window. VTI is less concentrated, with 33.5% of the fund in its ten largest positions against 38.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.