PBP vs WDTE: Income Fund Comparison
Invesco S&P 500 BuyWrite ETF - US (PBP) and Defiance S&P 500 Weekly Distribution ETF - US (WDTE) are both income-focused funds. Below is our independent side-by-side review using the Dependable Income Investing 13-factor scoring system — designed specifically for income investors seeking reliable, sustainable distributions.
Also see: PBP individual review · WDTE individual review
PBP: Expense ratio is 0.29% which is low. WDTE: Expense ratio is 1.03% which is high. PBP fund was established Dec 20th 2007. WDTE fund inception date was September 18th 2023 - approximately 2.5 years of history as of review date (rounded up to 3 years for scoring). In early October 2024 the fund moved from monthly to weekly distributions. Full Dependability and Return scores for both funds are available in the app.
| PBP | WDTE | |
|---|---|---|
| Fund Name | Invesco S&P 500 BuyWrite ETF - US | Defiance S&P 500 Weekly Distribution ETF - US |
| Fund Type | Index Based Fund | Index Based Fund |
| Exchange | NYSE/NASDAQ | NYSE/NASDAQ |
| Last Reviewed | 2025-11-13 | 2026-03-07 |
| Author | Adam Hyde, Income Investing Analyst | |
🔒 Full scores available — with Premium subscription
Compare Performance — Free →Fund Attributes: PBP vs WDTE 20% of overall score
Fund Attributes cover the foundational characteristics of each fund: cost, company backing, track record, and size. These factors reflect stability and cost-efficiency for long-term income investors.
Expense ratio is 0.29% which is low.
Expense ratio is 1.03% which is high.
USD $1.84 trillion in assets
Defiance ETFs surpassed $8 Billion in assets under management as of January 2026.
fund was established Dec 20th 2007.
Fund inception date was September 18th 2023 - approximately 2.5 years of history as of review date (rounded up to 3 years for scoring). In early October 2024 the fund moved from monthly to weekly distributions.
Over 300 Million in this fund.
$65.51 Million in assets under management which is a very small fund. Fund has shrunk from $72 Million in the previous review - likely due to poor performance.
Risk: PBP vs WDTE 35% of overall score
Risk factors evaluate how each fund manages volatility, diversification, and the nature of its underlying assets — critical considerations for income investors who prioritise capital preservation.
Volatility of this fund is low at 0.59 according to portfolio visualizer.
Beta vs SPY is approximately -0.26 (2023-09-29 to 2026-03-06) - very low / inverse market correlation. Per scoring rules - standalone volatility is used when |beta| < 0.6. Standalone annualized volatility (weekly total returns) is approximately 121.29% - extremely high price choppiness independent of market movements. Combined with severe NAV erosion of approximately -48.87% since inception.
See the full Risk analysis for both PBP and WDTE — volatility ratings, diversification scores, and analyst notes.
View Plans →Return: PBP vs WDTE 45% of overall score
Return factors assess income generation quality: current yield, distribution consistency, price history, and payment frequency. This is the most heavily weighted category for income investors.
Pays monthly distributions.
Weekly distributions (moved from monthly in early October 2024).
See the full Return analysis for both PBP and WDTE — yield ratings, distribution consistency scores, and capital history.
View Plans →Our Review Methodology
Every fund reviewed on Dependable Income Investing is scored using our 13-factor Fund Report Card, organised into three weighted categories: Fund Attributes (20%), Risk (35%), and Return (45%). Each criterion is rated 1–5 by our analysts based on publicly available fund data.
We also calculate a Dependability Score — a weighted composite of six income-specific factors ranked by importance for retirement income investors: Yield Stability, Yield, Volatility, Capital History, Fund Risk, and Underlying Assets. This score answers the question income investors care about most: can I depend on this fund to pay me reliably?
Full scores, ratings, and analyst notes for both PBP and WDTE are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions: PBP vs WDTE
Which has a lower expense ratio, PBP or WDTE?
PBP: Expense ratio is 0.29% which is low.
WDTE: Expense ratio is 1.03% which is high.
Which fund has more assets under management, PBP or WDTE?
PBP: Over 300 Million in this fund.
WDTE: $65.51 Million in assets under management which is a very small fund. Fund has shrunk from $72 Million in the previous review - likely due to poor performance.
Which fund has been trading longer, PBP or WDTE?
PBP: fund was established Dec 20th 2007.
WDTE: Fund inception date was September 18th 2023 - approximately 2.5 years of history as of review date (rounded up to 3 years for scoring). In early October 2024 the fund moved from monthly to weekly distributions.
Who manages PBP vs WDTE?
PBP: USD $1.84 trillion in assets
WDTE: Defiance ETFs surpassed $8 Billion in assets under management as of January 2026.
Where can I see the full PBP vs WDTE comparison with scores?
The complete side-by-side comparison — including all Risk and Return scores, analyst notes, Overall Score, and Dependability Score for both funds — is available in the Dependable Income Investing app.
What is the difference between PBP and WDTE?
Invesco S&P 500 BuyWrite ETF - US is a Index Based Fund. Expense ratio is 0.29% which is low. Defiance S&P 500 Weekly Distribution ETF - US is a Index Based Fund. Expense ratio is 1.03% which is high. Full comparison including Dependability Score is available in the Dependable Income Investing app.
Which is better for income investors, PBP or WDTE?
PBP: Expense ratio is 0.29% which is low. fund was established Dec 20th 2007. WDTE: Expense ratio is 1.03% which is high. Fund inception date was September 18th 2023 - approximately 2.5 years of history as of review date (rounded up to 3 years for scoring). In early October 2024 the fund moved from monthly to weekly distributions. Which scores higher on Dependability and Return is available in the Dependable Income Investing app.
Do PBP and WDTE pay monthly distributions?
PBP: Pays monthly distributions. WDTE: Weekly distributions (moved from monthly in early October 2024). Full yield and distribution stability scores for both funds are available in the Dependable Income Investing app.
See the Full PBP vs WDTE Comparison
The Dependable Income Investing app gives you the complete picture: all 13 scoring factors for both funds, Risk and Return analyst notes, Dependability Scores, and tools to compare any income fund side by side.
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