GABF vs. KBWP

Last updated Jun 4, 2026

GABF (Gabelli Financial Services Opportunities ETF) and KBWP (Invesco KBW Property & Casualty Insurance ETF) are both Financials Equities funds. GABF is actively managed, while KBWP is passively managed. Over the past 3 years, GABF returned 20.47%/yr vs 14.48%/yr for KBWP. A 0.52 correlation means they provide meaningful diversification when combined. GABF charges 0.10%/yr vs 0.35%/yr for KBWP.

Performance

GABF vs. KBWP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gabelli Financial Services Opportunities ETF (GABF) and Invesco KBW Property & Casualty Insurance ETF (KBWP). 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 higher than KBWP's -8.80% return.

GABF

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

KBWP

• 1D: -0.82%
• 1M: -2.90%
• YTD: -8.80%
• 6M: -4.88%
• 1Y: -7.04%
• 3Y*: 14.48%
• 5Y*: 9.97%
• 10Y*: 11.22%

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

GABF vs. KBWP - 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%
KBWP Invesco KBW Property & Casualty Insurance ETF	-8.80%	11.49%	30.45%	7.09%	7.14%

Correlation

The correlation between GABF and KBWP is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (All Time) Calculated using the full available price history since May 11, 2022	0.52

The correlation between GABF and KBWP shifts across timeframes, from 0.39 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

GABF vs. KBWP - Sectors Allocation Comparison

Sectors	GABF	KBWP
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. KBWP — 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

KBWP

KBWP Risk / Return Rank: 3
KBWP Sharpe Ratio Rank: 5
KBWP Sortino Ratio Rank: 5
KBWP Omega Ratio Rank: 5
KBWP Calmar Ratio Rank: 3
KBWP Martin Ratio Rank: 1

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. KBWP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Financial Services Opportunities ETF (GABF) and Invesco KBW Property & Casualty Insurance ETF (KBWP). 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	KBWP	Difference
Sharpe ratio: Return per unit of total volatility	-0.19	-0.44	+0.25
Sortino ratio: Return per unit of downside risk	-0.13	-0.49	+0.36
Omega ratio: Gain probability vs. loss probability	0.98	0.94	+0.04
Calmar ratio: Return relative to maximum drawdown	-0.19	-0.74	+0.55
Martin ratio: Return relative to average drawdown	-0.44	-1.56	+1.12
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. KBWP - Sharpe Ratio Comparison

The current GABF Sharpe Ratio is -0.19, which is higher than the KBWP Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of GABF and KBWP, 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	KBWP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.19	-0.44	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	0.69	+0.18

Drawdowns

GABF vs. KBWP - Drawdown Comparison

The maximum GABF drawdown since its inception was -20.86%, smaller than the maximum KBWP drawdown of -39.76%. Use the drawdown chart below to compare losses from any high point for GABF and KBWP.

Drawdown Indicators

	GABF	KBWP	Difference
Max Drawdown Largest peak-to-trough decline	-20.86%	-39.76%	+18.90%
Max Drawdown (1Y) Largest decline over 1 year	-17.16%	-9.56%	-7.60%
Max Drawdown (3Y) Largest decline over 3 years	-20.86%	-12.29%	-8.57%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.00%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.76%	—
Current Drawdown Current decline from peak	-11.60%	-9.56%	-2.04%
Average Drawdown Average peak-to-trough decline	-4.86%	-4.37%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.27%	4.72%	+2.55%

Volatility

GABF vs. KBWP - Volatility Comparison

Gabelli Financial Services Opportunities ETF (GABF) and Invesco KBW Property & Casualty Insurance ETF (KBWP) have volatilities of 4.28% and 4.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GABF	KBWP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	4.16%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	13.14%	11.41%	+1.73%
Volatility (1Y) Calculated over the trailing 1-year period	17.37%	16.20%	+1.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.54%	18.53%	+2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.54%	20.70%	-0.16%

GABF vs. KBWP - Expense Ratio Comparison

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

Dividends

GABF vs. KBWP - Dividend Comparison

GABF's dividend yield for the trailing twelve months is around 2.11%, more than KBWP's 2.03% 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%
KBWP Invesco KBW Property & Casualty Insurance ETF	2.03%	1.58%	1.64%	1.68%	1.99%	3.02%	1.93%	1.99%	2.11%	1.90%	2.14%	1.35%

Frequently Asked Questions

Can I hold both GABF and KBWP in my portfolio?

GABF and KBWP have a correlation of 0.39, 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 KBWP?

GABF has higher volatility (4.28%) compared to KBWP (4.16%). In terms of maximum drawdown, GABF dropped -20.86% vs KBWP's -39.76%.

Which ETF is better, GABF or KBWP?

On 3-year performance, GABF leads with 20.47% vs 14.48% for KBWP. On fees, GABF is cheaper at 0.10% per year. On volatility, KBWP has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GABF or KBWP?

Over the 3-year period, GABF has performed better with a 20.47% return vs 14.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GABF or KBWP?

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

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

GABF has the higher dividend yield at 2.11%, compared with 2.03% for KBWP.

What is the main difference between GABF and KBWP?

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

Which has better risk-adjusted returns?

GABF currently has the higher Sharpe Ratio (-0.19 vs -0.44), 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.