The iPath CBOE S&P 500 Buy Write Index ETN (NYSEArca: BWV) is a similar product, but unlike PBP it is in ETN form. [These ETFs May Protect You in Down Markets]
Year to date, with the S&P 500 Index up 9.63%, PBP has returned 4.58% and BWV has rallied 3.58%. Neither product trades a ton of volume on a daily basis, with PBP averaging about 91,000 shares daily while BWV trades less than 2,000 shares per day, but liquidity is present in both funds due to the nature of the underlying securities (S&P 500 Index and related call options) in order to allow for sizable transactions on either side of the market.
PowerShares S&P 500 Buy Write Portfolio
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