FRI vs. KBWY
Compare and contrast key facts about First Trust S&P REIT Index Fund (FRI) and Invesco KBW Premium Yield Equity REIT ETF (KBWY).
FRI and KBWY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FRI is a passively managed fund by First Trust that tracks the performance of the S&P United States REIT. It was launched on May 8, 2007. KBWY is a passively managed fund by Invesco that tracks the performance of the KBW Premium Yield Equity REIT Index. It was launched on Dec 2, 2010. Both FRI and KBWY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FRI or KBWY.
Key characteristics
| FRI | KBWY | |
|---|---|---|
| YTD Return | 14.37% | 6.81% |
| 1Y Return | 35.58% | 26.46% |
| 3Y Return (Ann) | 1.20% | 1.30% |
| 5Y Return (Ann) | 5.33% | -0.71% |
| 10Y Return (Ann) | 6.04% | 2.00% |
| Sharpe Ratio | 1.97 | 1.17 |
| Sortino Ratio | 2.84 | 1.79 |
| Omega Ratio | 1.35 | 1.23 |
| Calmar Ratio | 1.19 | 0.81 |
| Martin Ratio | 9.24 | 2.96 |
| Ulcer Index | 3.61% | 8.63% |
| Daily Std Dev | 16.92% | 21.79% |
| Max Drawdown | -71.95% | -57.68% |
| Current Drawdown | -2.36% | -10.94% |
Correlation
The correlation between FRI and KBWY is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FRI vs. KBWY - Performance Comparison
In the year-to-date period, FRI achieves a 14.37% return, which is significantly higher than KBWY's 6.81% return. Over the past 10 years, FRI has outperformed KBWY with an annualized return of 6.04%, while KBWY has yielded a comparatively lower 2.00% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FRI vs. KBWY - Expense Ratio Comparison
FRI has a 0.50% expense ratio, which is higher than KBWY's 0.35% expense ratio.
Risk-Adjusted Performance
FRI vs. KBWY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust S&P REIT Index Fund (FRI) 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.
Dividends
FRI vs. KBWY - Dividend Comparison
FRI's dividend yield for the trailing twelve months is around 2.57%, less than KBWY's 7.82% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRI First Trust S&P REIT Index Fund | 2.57% | 3.24% | 2.51% | 1.44% | 3.08% | 2.28% | 3.21% | 2.82% | 3.27% | 2.66% | 2.07% | 3.10% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 7.82% | 7.90% | 7.41% | 5.06% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% | 4.57% | 4.85% |
Drawdowns
FRI vs. KBWY - Drawdown Comparison
The maximum FRI drawdown since its inception was -71.95%, which is greater than KBWY's maximum drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for FRI and KBWY. For additional features, visit the drawdowns tool.
Volatility
FRI vs. KBWY - Volatility Comparison
First Trust S&P REIT Index Fund (FRI) has a higher volatility of 5.02% compared to Invesco KBW Premium Yield Equity REIT ETF (KBWY) at 4.48%. This indicates that FRI's price experiences larger fluctuations and is considered to be riskier than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.