AVIV vs. KBWB

Last updated Jun 23, 2026

AVIV (Avantis International Large Cap Value ETF) and KBWB (Invesco KBW Bank ETF) are both exchange-traded funds - AVIV is a Foreign Large Cap Equities fund actively managed by Avantis, while KBWB is a Financials Equities fund tracking the KBW Nasdaq Bank Index. AVIV is actively managed, while KBWB is passively managed. Over the past 3 years, AVIV returned 22.35%/yr vs 36.76%/yr for KBWB. A 0.63 correlation means they provide meaningful diversification when combined. AVIV charges 0.25%/yr vs 0.35%/yr for KBWB.

Performance

AVIV vs. KBWB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Large Cap Value ETF (AVIV) and Invesco KBW Bank ETF (KBWB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with AVIV having a 12.03% return and KBWB slightly higher at 12.18%.

AVIV

• 1D: 0.22%
• 1M: 0.73%
• YTD: 12.03%
• 6M: 11.97%
• 1Y: 33.95%
• 3Y*: 22.35%
• 5Y*: —
• 10Y*: —

KBWB

• 1D: 1.42%
• 1M: 8.59%
• YTD: 12.18%
• 6M: 10.15%
• 1Y: 41.92%
• 3Y*: 36.76%
• 5Y*: 11.16%
• 10Y*: 13.99%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVIV vs. KBWB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	12.03%	41.80%	4.30%	18.47%	-8.26%	1.83%
KBWB Invesco KBW Bank ETF	12.18%	32.05%	36.73%	-1.18%	-21.68%	0.16%

Correlation

The correlation between AVIV and KBWB is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.63

The correlation between AVIV and KBWB shifts across timeframes, from 0.53 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

AVIV vs. KBWB - Sectors Allocation Comparison

Sectors	AVIV	KBWB
Financial Services	27.3%	100.0%
Industrials	18.5%	-
Energy	13.0%	-
Basic Materials	12.7%	-
Consumer Cyclical	10.2%	-
Communication Services	4.7%	-
Healthcare	4.7%	-
Technology	4.0%	-
Consumer Defensive	3.2%	-
Real Estate	1.0%	-
Utilities	0.7%	-

Return for Risk

AVIV vs. KBWB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVIV

AVIV Risk / Return Rank: 72
AVIV Sharpe Ratio Rank: 76
AVIV Sortino Ratio Rank: 74
AVIV Omega Ratio Rank: 76
AVIV Calmar Ratio Rank: 66
AVIV Martin Ratio Rank: 69

KBWB

KBWB Risk / Return Rank: 58
KBWB Sharpe Ratio Rank: 66
KBWB Sortino Ratio Rank: 59
KBWB Omega Ratio Rank: 61
KBWB Calmar Ratio Rank: 53
KBWB Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVIV vs. KBWB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Large Cap Value ETF (AVIV) and Invesco KBW Bank ETF (KBWB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVIV	KBWB	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.08	+0.26
Sortino ratio: Return per unit of downside risk	3.19	2.69	+0.50
Omega ratio: Gain probability vs. loss probability	1.43	1.36	+0.07
Calmar ratio: Return relative to maximum drawdown	3.16	2.57	+0.59
Martin ratio: Return relative to average drawdown	12.35	8.09	+4.27

AVIV vs. KBWB - Sharpe Ratio Comparison

The current AVIV Sharpe Ratio is 2.34, which is comparable to the KBWB Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of AVIV and KBWB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVIV vs. KBWB - Drawdown Comparison

The maximum AVIV drawdown since its inception was -27.69%, smaller than the maximum KBWB drawdown of -50.27%. Use the drawdown chart below to compare losses from any high point for AVIV and KBWB.

Drawdown Indicators

	AVIV	KBWB	Difference
Max Drawdown Largest peak-to-trough decline	-27.69%	-50.27%	+22.58%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-16.38%	+5.60%
Max Drawdown (3Y) Largest decline over 3 years	-14.13%	-25.43%	+11.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-49.31%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.27%	—
Current Drawdown Current decline from peak	-0.93%	0.00%	-0.93%
Average Drawdown Average peak-to-trough decline	-5.08%	-11.70%	+6.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	5.20%	-2.44%

Volatility

AVIV vs. KBWB - Volatility Comparison

The current volatility for Avantis International Large Cap Value ETF (AVIV) is 4.70%, while Invesco KBW Bank ETF (KBWB) has a volatility of 5.65%. This indicates that AVIV experiences smaller price fluctuations and is considered to be less risky than KBWB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVIV	KBWB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	5.65%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	12.34%	15.88%	-3.54%
Volatility (1Y) Calculated over the trailing 1-year period	14.59%	20.30%	-5.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.90%	26.55%	-9.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.90%	29.21%	-12.31%

AVIV vs. KBWB - Expense Ratio Comparison

AVIV has a 0.25% expense ratio, which is lower than KBWB's 0.35% expense ratio.

Dividends

AVIV vs. KBWB - Dividend Comparison

AVIV's dividend yield for the trailing twelve months is around 3.95%, more than KBWB's 2.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVIV Avantis International Large Cap Value ETF	3.95%	3.01%	3.46%	3.64%	2.84%	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KBWB Invesco KBW Bank ETF	2.43%	2.04%	2.46%	3.20%	3.05%	2.13%	2.62%	2.38%	2.54%	1.35%	1.53%	1.53%

Frequently Asked Questions

Can I hold both AVIV and KBWB in my portfolio?

AVIV and KBWB have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVIV or KBWB?

KBWB has higher volatility (5.65%) compared to AVIV (4.70%). In terms of maximum drawdown, AVIV dropped -27.69% vs KBWB's -50.27%.

Which ETF is better, AVIV or KBWB?

On 3-year performance, KBWB leads with 36.76% vs 22.35% for AVIV. On fees, AVIV is cheaper at 0.25% per year. On volatility, AVIV has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVIV or KBWB?

Over the 3-year period, KBWB has performed better with a 36.76% return vs 22.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVIV or KBWB?

AVIV is cheaper with a 0.25% expense ratio, compared with 0.35% for KBWB.

Which ETF pays a higher dividend yield, AVIV or KBWB?

AVIV has the higher dividend yield at 3.95%, compared with 2.43% for KBWB.

What is the main difference between AVIV and KBWB?

AVIV is categorized as Foreign Large Cap Equities, while KBWB is Financials Equities. They also come from different issuers: Avantis and Invesco. Their fees differ too: 0.25% for AVIV and 0.35% for KBWB.

Which has better risk-adjusted returns?

AVIV currently has the higher Sharpe Ratio (2.34 vs 2.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.