GABF vs. KBWB

Last updated Jun 4, 2026

GABF (Gabelli Financial Services Opportunities ETF) and KBWB (Invesco KBW Bank ETF) are both Financials Equities funds. GABF is actively managed, while KBWB is passively managed. Over the past 3 years, GABF returned 20.47%/yr vs 31.93%/yr for KBWB. Their correlation of 0.84 suggests significant overlap in exposure. GABF charges 0.10%/yr vs 0.35%/yr for KBWB.

Performance

GABF vs. KBWB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Financial Services Opportunities ETF (GABF) and Invesco KBW Bank ETF (KBWB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GABF achieves a -7.03% return, which is significantly lower than KBWB's 4.07% return.

GABF

• 1D: -1.89%
• 1M: -3.11%
• YTD: -7.03%
• 6M: -6.24%
• 1Y: -3.20%
• 3Y*: 20.47%
• 5Y*: —
• 10Y*: —

KBWB

• 1D: -1.39%
• 1M: 2.14%
• YTD: 4.07%
• 6M: 8.58%
• 1Y: 34.45%
• 3Y*: 31.93%
• 5Y*: 7.75%
• 10Y*: 12.09%

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

GABF vs. KBWB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GABF Gabelli Financial Services Opportunities ETF	-7.03%	3.60%	44.38%	38.92%	0.40%
KBWB Invesco KBW Bank ETF	4.07%	32.05%	36.73%	-1.18%	-5.49%

Correlation

The correlation between GABF and KBWB is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (All Time) Calculated using the full available price history since May 11, 2022	0.84

The correlation between GABF and KBWB has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

GABF vs. KBWB - Sectors Allocation Comparison

Sectors	GABF	KBWB
Financial Services	84.6%	100.0%
Real Estate	6.0%	-
Technology	4.9%	-
Industrials	4.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

GABF vs. KBWB — Risk / Return Rank

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

GABF

GABF Risk / Return Rank: 7
GABF Sharpe Ratio Rank: 7
GABF Sortino Ratio Rank: 6
GABF Omega Ratio Rank: 6
GABF Calmar Ratio Rank: 7
GABF Martin Ratio Rank: 7

KBWB

KBWB Risk / Return Rank: 45
KBWB Sharpe Ratio Rank: 49
KBWB Sortino Ratio Rank: 45
KBWB Omega Ratio Rank: 47
KBWB Calmar Ratio Rank: 42
KBWB Martin Ratio Rank: 41

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.

GABF vs. KBWB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Financial Services Opportunities ETF (GABF) 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.

	GABF	KBWB	Difference
Sharpe ratio: Return per unit of total volatility	-0.19	1.73	-1.91
Sortino ratio: Return per unit of downside risk	-0.13	2.28	-2.41
Omega ratio: Gain probability vs. loss probability	0.98	1.30	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.19	2.11	-2.30
Martin ratio: Return relative to average drawdown	-0.44	6.64	-7.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GABF vs. KBWB - Sharpe Ratio Comparison

The current GABF Sharpe Ratio is -0.19, which is lower than the KBWB Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of GABF 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.

Sharpe Ratios by Period

	GABF	KBWB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.19	1.73	-1.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.29	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	0.50	+0.37

Drawdowns

GABF vs. KBWB - Drawdown Comparison

The maximum GABF drawdown since its inception was -20.86%, smaller than the maximum KBWB drawdown of -50.27%. Use the drawdown chart below to compare losses from any high point for GABF and KBWB.

Drawdown Indicators

	GABF	KBWB	Difference
Max Drawdown Largest peak-to-trough decline	-20.86%	-50.27%	+29.41%
Max Drawdown (1Y) Largest decline over 1 year	-17.16%	-16.38%	-0.78%
Max Drawdown (3Y) Largest decline over 3 years	-20.86%	-25.43%	+4.57%
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	-11.60%	-3.29%	-8.31%
Average Drawdown Average peak-to-trough decline	-4.86%	-11.74%	+6.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.27%	5.20%	+2.07%

Volatility

GABF vs. KBWB - Volatility Comparison

The current volatility for Gabelli Financial Services Opportunities ETF (GABF) is 4.28%, while Invesco KBW Bank ETF (KBWB) has a volatility of 5.14%. This indicates that GABF 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

	GABF	KBWB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	5.14%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	13.14%	15.49%	-2.35%
Volatility (1Y) Calculated over the trailing 1-year period	17.37%	20.06%	-2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.54%	26.63%	-6.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.54%	29.20%	-8.66%

GABF vs. KBWB - Expense Ratio Comparison

GABF has a 0.10% expense ratio, which is lower than KBWB's 0.35% expense ratio.

Dividends

GABF vs. KBWB - Dividend Comparison

GABF's dividend yield for the trailing twelve months is around 2.11%, more than KBWB's 2.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GABF Gabelli Financial Services Opportunities ETF	2.11%	1.96%	4.19%	4.95%	1.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KBWB Invesco KBW Bank ETF	2.06%	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 GABF and KBWB in my portfolio?

GABF and KBWB have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GABF or KBWB?

KBWB has higher volatility (5.14%) compared to GABF (4.28%). In terms of maximum drawdown, GABF dropped -20.86% vs KBWB's -50.27%.

Which ETF is better, GABF or KBWB?

On 3-year performance, KBWB leads with 31.93% vs 20.47% for GABF. On fees, GABF is cheaper at 0.10% per year. On volatility, GABF has been the lower-risk option at 4.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GABF or KBWB?

Over the 3-year period, KBWB has performed better with a 31.93% return vs 20.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GABF or KBWB?

GABF is cheaper with a 0.10% expense ratio, compared with 0.35% for KBWB.

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

GABF has the higher dividend yield at 2.11%, compared with 2.06% for KBWB.

What is the main difference between GABF and KBWB?

They also come from different issuers: Gabelli and Invesco. Their fees differ too: 0.10% for GABF and 0.35% for KBWB.

Which has better risk-adjusted returns?

KBWB currently has the higher Sharpe Ratio (1.73 vs -0.19), 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.