PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HDV vs. KBWD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDV vs. KBWD

Last updated Jun 14, 2026

HDV (iShares Core High Dividend ETF) and KBWD (Invesco KBW High Dividend Yield Financial ETF) are both exchange-traded funds - HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index, while KBWD is a Financials Equities fund tracking the KBW Nasdaq Financial Sector Dividend Yield Index. Both are passively managed. Over the past 10 years, HDV returned 9.47%/yr vs 5.25%/yr for KBWD. A 0.62 correlation means they provide meaningful diversification when combined. HDV charges 0.08%/yr vs 1.24%/yr for KBWD.

Performance

HDV vs. KBWD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core High Dividend ETF (HDV) and Invesco KBW High Dividend Yield Financial ETF (KBWD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, HDV achieves a 15.30% return, which is significantly higher than KBWD's -3.74% return. Over the past 10 years, HDV has outperformed KBWD with an annualized return of 9.47%, while KBWD has yielded a comparatively lower 5.25% annualized return.

HDV

1D
0.87%
1M
2.05%
YTD
15.30%
6M
15.20%
1Y
21.86%
3Y*
15.16%
5Y*
10.91%
10Y*
9.47%

KBWD

1D
0.80%
1M
-1.25%
YTD
-3.74%
6M
-4.15%
1Y
3.52%
3Y*
5.00%
5Y*
0.34%
10Y*
5.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HDV vs. KBWD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HDV
iShares Core High Dividend ETF		15.30%11.90%14.16%1.72%7.05%19.45%-6.48%20.22%-3.01%13.40%
KBWD
Invesco KBW High Dividend Yield Financial ETF		-3.74%5.59%4.30%20.21%-19.14%31.89%-15.58%20.72%-8.70%12.06%

Correlation

The correlation between HDV and KBWD is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (3Y)
Calculated over the trailing 3-year period

0.51

Correlation (5Y)
Calculated over the trailing 5-year period

0.59

Correlation (10Y)
Calculated over the trailing 10-year period

0.61

Correlation (All Time)
Calculated using the full available price history since Mar 31, 2011

0.62

Over the past year, the correlation between HDV and KBWD has dropped to 0.36 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

HDV vs. KBWD - Sectors Allocation Comparison

Sectors
HDV
KBWD

Consumer Defensive

24.2%

-

Energy

21.0%

-

Healthcare

17.0%

-

Financial Services

10.8%
60.8%

Technology

9.7%

-

Utilities

8.9%

-

Consumer Cyclical

6.0%

-

Industrials

1.3%

-

Basic Materials

1.1%

-

Communication Services

0.1%

-

Real Estate

-

39.2%

Consumer Defensive

HDV
24.2%
KBWD

-

Energy

HDV
21.0%
KBWD

-

Healthcare

HDV
17.0%
KBWD

-

Financial Services

HDV
10.8%
KBWD
60.8%

Technology

HDV
9.7%
KBWD

-

Utilities

HDV
8.9%
KBWD

-

Consumer Cyclical

HDV
6.0%
KBWD

-

Industrials

HDV
1.3%
KBWD

-

Basic Materials

HDV
1.1%
KBWD

-

Communication Services

HDV
0.1%
KBWD

-

Real Estate

HDV

-

KBWD
39.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core High Dividend ETF

Invesco KBW High Dividend Yield Financial ETF

Often compared with HDV:
HDV vs. SCHDHDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPY
Often compared with KBWD:
KBWD vs. SCHDKBWD vs. JEPIKBWD vs. PGXKBWD vs. RIETKBWD vs. SPYKBWD vs. DXKBWD vs. SPHD

Return for Risk

HDV vs. KBWD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDV
HDV Risk / Return Rank: 8080
Overall Rank
HDV Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 8585
Sortino Ratio Rank
HDV Omega Ratio Rank: 7676
Omega Ratio Rank
HDV Calmar Ratio Rank: 8686
Calmar Ratio Rank
HDV Martin Ratio Rank: 7272
Martin Ratio Rank
KBWD
KBWD Risk / Return Rank: 1111
Overall Rank
KBWD Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
KBWD Sortino Ratio Rank: 1111
Sortino Ratio Rank
KBWD Omega Ratio Rank: 1111
Omega Ratio Rank
KBWD Calmar Ratio Rank: 1111
Calmar Ratio Rank
KBWD Martin Ratio Rank: 1111
Martin Ratio Rank
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.

HDV vs. KBWD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) and Invesco KBW High Dividend Yield Financial ETF (KBWD). 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.

HDVKBWDDifference
Sharpe ratioReturn per unit of total volatility
2.23
0.13

+2.10

Sortino ratioReturn per unit of downside risk
3.29
0.29

+3.00

Omega ratioGain probability vs. loss probability

1.38

1.03

+0.35

Calmar ratioReturn relative to maximum drawdown

4.18

0.13

+4.05

Martin ratioReturn relative to average drawdown

11.59

0.32

+11.27

HDV vs. KBWD - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 2.23, which is higher than the KBWD Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of HDV and KBWD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

HDV vs. KBWD - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, smaller than the maximum KBWD drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for HDV and KBWD.

Loading charts...

Drawdown Indicators

HDVKBWDDifference

Max Drawdown

Largest peak-to-trough decline

-37.04%

-58.63%

+21.59%

Max Drawdown (1Y)

Largest decline over 1 year

-5.18%

-15.05%

+9.87%

Max Drawdown (3Y)

Largest decline over 3 years

-10.49%

-19.65%

+9.16%

Max Drawdown (5Y)

Largest decline over 5 years

-15.42%

-30.74%

+15.32%

Max Drawdown (10Y)

Largest decline over 10 years

-37.04%

-58.63%

+21.59%

Current Drawdown

Current decline from peak

-0.29%

-10.58%

+10.29%

Average Drawdown

Average peak-to-trough decline

-3.08%

-7.41%

+4.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.87%

6.10%

-4.23%

Volatility

HDV vs. KBWD - Volatility Comparison

The current volatility for iShares Core High Dividend ETF (HDV) is 3.10%, while Invesco KBW High Dividend Yield Financial ETF (KBWD) has a volatility of 4.70%. This indicates that HDV experiences smaller price fluctuations and is considered to be less risky than KBWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

HDVKBWDDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.10%

4.70%

-1.60%

Volatility (6M)

Calculated over the trailing 6-month period

7.44%

12.36%

-4.92%

Volatility (1Y)

Calculated over the trailing 1-year period

9.73%

15.59%

-5.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.83%

19.89%

-7.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.73%

23.25%

-7.52%

HDV vs. KBWD - Expense Ratio Comparison

HDV has a 0.08% expense ratio, which is lower than KBWD's 1.24% expense ratio.

Dividends

HDV vs. KBWD - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 2.84%, less than KBWD's 14.14% yield.

PositionTTM20252024202320222021202020192018201720162015
HDV
iShares Core High Dividend ETF		2.84%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%
KBWD
Invesco KBW High Dividend Yield Financial ETF		14.14%12.83%12.45%11.45%11.32%7.26%9.68%8.63%9.47%8.77%8.68%8.89%

Frequently Asked Questions

HDV and KBWD have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KBWD has higher volatility (4.70%) compared to HDV (3.10%). In terms of maximum drawdown, HDV dropped -37.04% vs KBWD's -58.63%.

On 10-year performance, HDV leads with 9.47% vs 5.25% for KBWD. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 3.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, HDV has performed better with a 9.47% return vs 5.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDV is cheaper with a 0.08% expense ratio, compared with 1.24% for KBWD.

KBWD has the higher dividend yield at 14.14%, compared with 2.84% for HDV.

HDV is categorized as Dividend, while KBWD is Financials Equities. HDV tracks Morningstar Dividend Yield Focus Index, while KBWD tracks KBW Nasdaq Financial Sector Dividend Yield Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.08% for HDV and 1.24% for KBWD.

HDV currently has the higher Sharpe Ratio (2.23 vs 0.13), 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.

Portfolio Optimizer

Find the right allocation for HDV and KBWD

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer