CDL vs. KBWY
CDL (VictoryShares US Large Cap High Dividend Volatility Wtd ETF) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both exchange-traded funds - CDL is a Dividend fund tracking the Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index, while KBWY is a REIT fund tracking the KBW Nasdaq Premium Yield Equity REIT Index. Both are passively managed. Over the past 10 years, CDL returned 11.17%/yr vs 0.68%/yr for KBWY. Their 0.67 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.35% expense ratio.
Performance
CDL vs. KBWY - Performance Comparison
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Returns By Period
In the year-to-date period, CDL achieves a 17.17% return, which is significantly lower than KBWY's 25.42% return. Over the past 10 years, CDL has outperformed KBWY with an annualized return of 11.17%, while KBWY has yielded a comparatively lower 0.68% annualized return.
CDL
- 1D
- -0.51%
- 1M
- 0.29%
- 6M
- 10.38%
- YTD
- 17.17%
- 1Y
- 22.30%
- 3Y*
- 14.61%
- 5Y*
- 10.44%
- 10Y*
- 11.17%
- ALL TIME*
- 11.29%
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) |
|---|---|---|---|
| $504.48K | $625.50K | $553.90K | |
| $2.57M | $2.83M | $2.51M |
CDL vs. KBWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF | 17.17% | 9.04% | 15.58% | 3.03% | -0.45% | 33.42% | -3.35% | 26.38% | -5.86% | 16.29% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 25.42% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -18.20% | 0.81% |
Correlation
The correlation between CDL and KBWY is 0.63, 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. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2015 | 0.67 |
The correlation between CDL and KBWY has been stable across timeframes, ranging from 0.63 to 0.71 - a consistent structural relationship.
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Return for Risk
CDL vs. KBWY — Risk / Return Rank
CDL
KBWY
CDL vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) 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.
| CDL | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.32 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.87 | 3.46 | +0.42 |
| Martin ratioReturn relative to average drawdown | 13.78 | 8.62 | +5.16 |
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Drawdowns
CDL vs. KBWY - Drawdown Comparison
The maximum CDL drawdown since its inception was -41.03%, smaller than the maximum KBWY drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for CDL and KBWY.
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Drawdown Indicators
| CDL | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.03% | -57.68% | +16.65% |
Max Drawdown (1Y)Largest decline over 1 year | -5.66% | -9.24% | +3.58% |
Max Drawdown (3Y)Largest decline over 3 years | -12.87% | -29.93% | +17.06% |
Max Drawdown (5Y)Largest decline over 5 years | -17.28% | -32.29% | +15.01% |
Max Drawdown (10Y)Largest decline over 10 years | -41.03% | -57.68% | +16.65% |
Current DrawdownCurrent decline from peak | -2.35% | -4.45% | +2.10% |
Average DrawdownAverage peak-to-trough decline | -4.29% | -14.08% | +9.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 3.70% | -2.11% |
Volatility
CDL vs. KBWY - Volatility Comparison
The current volatility for VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) is 4.20%, while Invesco KBW Premium Yield Equity REIT ETF (KBWY) has a volatility of 4.52%. This indicates that CDL 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
| CDL | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 4.52% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 7.85% | 12.24% | -4.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.34% | 16.51% | -6.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.88% | 21.56% | -7.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 27.06% | -10.02% |
CDL vs. KBWY - Expense Ratio Comparison
Both CDL and KBWY have an expense ratio of 0.35%.
Dividends
CDL vs. KBWY - Dividend Comparison
CDL's dividend yield for the trailing twelve months is around 3.06%, less than KBWY's 8.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF | 3.06% | 3.33% | 3.27% | 3.61% | 3.31% | 2.60% | 3.32% | 3.04% | 3.32% | 2.87% | 2.97% | 1.28% |
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
CDL and KBWY have a correlation of 0.63, 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 CDL (4.20%). In terms of maximum drawdown, CDL dropped -41.03% vs KBWY's -57.68%.
On 10-year performance, CDL leads with 11.17% vs 0.68% for KBWY. Both ETFs have the same 0.35% expense ratio. On volatility, CDL has been the lower-risk option at 4.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CDL has performed better with a 11.17% return vs 0.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CDL and KBWY have the same expense ratio: 0.35% per year.
KBWY has the higher dividend yield at 8.11%, compared with 3.06% for CDL.
CDL is categorized as Dividend, while KBWY is REIT. CDL tracks Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index, while KBWY tracks KBW Nasdaq Premium Yield Equity REIT Index. They also come from different issuers: Crestview and Invesco.
CDL currently has the higher Sharpe Ratio (2.13 vs 1.94), 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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