The (Ticker: PBP ), formerly known under the PowerShares brand, is a passively managed exchange-traded fund designed to provide exposure to the S&P 500 while generating income through a "buy-write" (covered call) strategy. Core Strategy
: It collects option premiums upfront, which are then reinvested into the fund or distributed to shareholders. powershares buywrite portfolio
: Because it sells call options, its potential gains are limited during strong bull markets; if the S&P 500 rises significantly, the fund may underperform the broader index. The (Ticker: PBP ), formerly known under the