BYRE vs. KBWY
BYRE (Principal Real Estate Active Opportunities ETF) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both REIT funds. BYRE is actively managed, while KBWY is passively managed. Over the past 3 years, BYRE returned 9.43%/yr vs 7.59%/yr for KBWY. Their 0.79 correlation means they have sometimes moved together and sometimes differently. BYRE charges 0.65%/yr vs 0.35%/yr for KBWY.
Performance
BYRE vs. KBWY - Performance Comparison
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Returns By Period
In the year-to-date period, BYRE achieves a 15.21% return, which is significantly lower than KBWY's 25.42% return.
BYRE
- 1D
- -0.57%
- 1M
- 1.50%
- 6M
- 12.75%
- YTD
- 15.21%
- 1Y
- 14.35%
- 3Y*
- 9.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.17%
KBWY
- 1D
- -1.02%
- 1M
- -1.98%
- 6M
- 20.28%
- YTD
- 25.42%
- 1Y
- 32.49%
- 3Y*
- 7.59%
- 5Y*
- 2.70%
- 10Y*
- 0.68%
- ALL TIME*
- 5.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $106.97K | $88.05K | $86.21K | |
| $2.57M | $2.83M | $2.51M |
BYRE vs. KBWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BYRE Principal Real Estate Active Opportunities ETF | 15.21% | 2.35% | 4.18% | 10.82% | -9.22% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 25.42% | -5.30% | -3.49% | 12.88% | -11.08% |
Correlation
The correlation between BYRE and KBWY is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (All Time) Calculated using the full available price history since May 19, 2022 | 0.79 |
The correlation between BYRE and KBWY has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.
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Return for Risk
BYRE vs. KBWY — Risk / Return Rank
BYRE
KBWY
BYRE vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Real Estate Active Opportunities ETF (BYRE) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). 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.
| BYRE | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.32 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 3.46 | -1.57 |
| Martin ratioReturn relative to average drawdown | 5.96 | 8.62 | -2.66 |
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Drawdowns
BYRE vs. KBWY - Drawdown Comparison
The maximum BYRE drawdown since its inception was -25.70%, smaller than the maximum KBWY drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for BYRE and KBWY.
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Drawdown Indicators
| BYRE | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.70% | -57.68% | +31.98% |
Max Drawdown (1Y)Largest decline over 1 year | -7.76% | -9.24% | +1.48% |
Max Drawdown (3Y)Largest decline over 3 years | -15.13% | -29.93% | +14.80% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.68% | — |
Current DrawdownCurrent decline from peak | -2.57% | -4.45% | +1.88% |
Average DrawdownAverage peak-to-trough decline | -9.25% | -14.08% | +4.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 3.70% | -1.26% |
Volatility
BYRE vs. KBWY - Volatility Comparison
The current volatility for Principal Real Estate Active Opportunities ETF (BYRE) is 4.04%, while Invesco KBW Premium Yield Equity REIT ETF (KBWY) has a volatility of 4.52%. This indicates that BYRE experiences smaller price fluctuations and is considered to be less risky than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BYRE | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 4.52% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 10.20% | 12.24% | -2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.77% | 16.51% | -3.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.99% | 21.56% | -3.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.99% | 27.06% | -9.07% |
BYRE vs. KBWY - Expense Ratio Comparison
BYRE has a 0.65% expense ratio, which is higher than KBWY's 0.35% expense ratio.
Dividends
BYRE vs. KBWY - Dividend Comparison
BYRE's dividend yield for the trailing twelve months is around 2.67%, less than KBWY's 8.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BYRE Principal Real Estate Active Opportunities ETF | 2.67% | 2.71% | 2.31% | 2.63% | 1.86% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.11% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
Frequently Asked Questions
BYRE and KBWY have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KBWY has higher volatility (4.52%) compared to BYRE (4.04%). In terms of maximum drawdown, BYRE dropped -25.70% vs KBWY's -57.68%.
On 3-year performance, BYRE leads with 9.43% vs 7.59% for KBWY. On fees, KBWY is cheaper at 0.35% per year. On volatility, BYRE has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BYRE has performed better with a 9.43% return vs 7.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBWY is cheaper with a 0.35% expense ratio, compared with 0.65% for BYRE.
KBWY has the higher dividend yield at 8.11%, compared with 2.67% for BYRE.
They also come from different issuers: Principal and Invesco. Their fees differ too: 0.65% for BYRE and 0.35% for KBWY.
KBWY currently has the higher Sharpe Ratio (1.94 vs 1.15), 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.
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