PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IAK vs. KBWP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAK vs. KBWP

Last updated Jun 23, 2026

IAK (iShares U.S. Insurance ETF) and KBWP (Invesco KBW Property & Casualty Insurance ETF) are both Financials Equities funds - IAK tracks the Dow Jones U.S. Select Insurance Index while KBWP tracks the KBW Nasdaq Property & Casualty (TR). Both are passively managed. Over the past 10 years, IAK returned 12.95%/yr vs 12.12%/yr for KBWP. A 0.80 correlation means they provide meaningful diversification when combined. IAK charges 0.38%/yr vs 0.35%/yr for KBWP.

Performance

IAK vs. KBWP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Insurance ETF (IAK) and Invesco KBW Property & Casualty Insurance ETF (KBWP). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IAK achieves a 1.39% return, which is significantly higher than KBWP's -4.29% return. Over the past 10 years, IAK has outperformed KBWP with an annualized return of 12.95%, while KBWP has yielded a comparatively lower 12.12% annualized return.

IAK

1D
0.87%
1M
1.38%
YTD
1.39%
6M
0.55%
1Y
5.45%
3Y*
18.83%
5Y*
14.31%
10Y*
12.95%

KBWP

1D
0.30%
1M
0.17%
YTD
-4.29%
6M
-4.73%
1Y
1.52%
3Y*
16.24%
5Y*
12.16%
10Y*
12.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAK vs. KBWP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAK
iShares U.S. Insurance ETF		1.39%9.50%28.25%11.28%11.33%26.84%-2.86%25.94%-11.48%14.18%
KBWP
Invesco KBW Property & Casualty Insurance ETF		-4.29%11.49%30.45%7.09%10.16%20.61%-2.05%28.67%-2.76%8.86%

Correlation

The correlation between IAK and KBWP is 0.92, 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

0.92

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

0.95

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

0.94

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

0.91

Correlation (All Time)
Calculated using the full available price history since Dec 22, 2010

0.80

The correlation between IAK and KBWP shifts across timeframes, from 0.80 (all time) to 0.95 (3 years), reflecting how their relationship changes across market environments.

IAK vs. KBWP - Sectors Allocation Comparison

Sectors
IAK
KBWP

Financial Services

99.4%
100.0%

Healthcare

0.6%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

IAK
99.4%
KBWP
100.0%

Healthcare

IAK
0.6%
KBWP

-

Basic Materials

IAK

-

KBWP

-

Communication Services

IAK

-

KBWP

-

Consumer Cyclical

IAK

-

KBWP

-

Consumer Defensive

IAK

-

KBWP

-

Energy

IAK

-

KBWP

-

Industrials

IAK

-

KBWP

-

Real Estate

IAK

-

KBWP

-

Technology

IAK

-

KBWP

-

Utilities

IAK

-

KBWP

-

Compare stocks, funds, or ETFs

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

iShares U.S. Insurance ETF

Invesco KBW Property & Casualty Insurance ETF

Often compared with IAK:
IAK vs. KIEIAK vs. IHEIAK vs. DIVBIAK vs. INFLIAK vs. VYMIAK vs. ^SP500TRIAK vs. VTI
Often compared with KBWP:
KBWP vs. KIEKBWP vs. KBEKBWP vs. ACGLKBWP vs. PSCFKBWP vs. TRVKBWP vs. VOOKBWP vs. QQQ

Return for Risk

IAK vs. KBWP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAK
IAK Risk / Return Rank: 1414
Overall Rank
IAK Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
IAK Sortino Ratio Rank: 1313
Sortino Ratio Rank
IAK Omega Ratio Rank: 1212
Omega Ratio Rank
IAK Calmar Ratio Rank: 1717
Calmar Ratio Rank
IAK Martin Ratio Rank: 1616
Martin Ratio Rank
KBWP
KBWP Risk / Return Rank: 99
Overall Rank
KBWP Sharpe Ratio Rank: 99
Sharpe Ratio Rank
KBWP Sortino Ratio Rank: 99
Sortino Ratio Rank
KBWP Omega Ratio Rank: 99
Omega Ratio Rank
KBWP Calmar Ratio Rank: 1010
Calmar Ratio Rank
KBWP Martin Ratio Rank: 1010
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.

IAK vs. KBWP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) 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.

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.

IAKKBWPDifference
Sharpe ratioReturn per unit of total volatility
0.36
0.09

+0.27

Sortino ratioReturn per unit of downside risk
0.60
0.24

+0.36

Omega ratioGain probability vs. loss probability

1.07

1.03

+0.04

Calmar ratioReturn relative to maximum drawdown

0.72

0.16

+0.56

Martin ratioReturn relative to average drawdown

1.60

0.35

+1.25

IAK vs. KBWP - Sharpe Ratio Comparison

The current IAK Sharpe Ratio is 0.36, which is higher than the KBWP Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of IAK 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.

Loading charts...

Drawdowns

IAK vs. KBWP - Drawdown Comparison

The maximum IAK drawdown since its inception was -77.38%, which is greater than KBWP's maximum drawdown of -39.76%. Use the drawdown chart below to compare losses from any high point for IAK and KBWP.

Loading charts...

Drawdown Indicators

IAKKBWPDifference

Max Drawdown

Largest peak-to-trough decline

-77.38%

-39.76%

-37.62%

Max Drawdown (1Y)

Largest decline over 1 year

-7.62%

-9.56%

+1.94%

Max Drawdown (3Y)

Largest decline over 3 years

-11.58%

-12.29%

+0.71%

Max Drawdown (5Y)

Largest decline over 5 years

-14.76%

-17.00%

+2.24%

Max Drawdown (10Y)

Largest decline over 10 years

-44.95%

-39.76%

-5.19%

Current Drawdown

Current decline from peak

-0.20%

-5.08%

+4.88%

Average Drawdown

Average peak-to-trough decline

-16.10%

-4.37%

-11.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.41%

4.36%

-0.95%

Volatility

IAK vs. KBWP - Volatility Comparison

iShares U.S. Insurance ETF (IAK) and Invesco KBW Property & Casualty Insurance ETF (KBWP) have volatilities of 5.21% and 5.29%, 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.

Loading charts...

Volatility by Period

IAKKBWPDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.21%

5.29%

-0.08%

Volatility (6M)

Calculated over the trailing 6-month period

10.44%

11.82%

-1.38%

Volatility (1Y)

Calculated over the trailing 1-year period

15.05%

16.45%

-1.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.03%

18.51%

-0.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.92%

20.74%

+0.18%

IAK vs. KBWP - Expense Ratio Comparison

IAK has a 0.38% expense ratio, which is higher than KBWP's 0.35% expense ratio.

Dividends

IAK vs. KBWP - Dividend Comparison

IAK's dividend yield for the trailing twelve months is around 2.63%, more than KBWP's 2.36% yield.

PositionTTM20252024202320222021202020192018201720162015
IAK
iShares U.S. Insurance ETF		2.63%1.69%1.49%1.44%1.69%2.26%2.07%1.84%2.33%1.62%1.68%1.62%
KBWP
Invesco KBW Property & Casualty Insurance ETF		2.36%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

With a correlation of 0.92, IAK and KBWP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

KBWP has higher volatility (5.29%) compared to IAK (5.21%). In terms of maximum drawdown, IAK dropped -77.38% vs KBWP's -39.76%.

On 10-year performance, IAK leads with 12.95% vs 12.12% for KBWP. On fees, KBWP is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IAK has performed better with a 12.95% return vs 12.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

KBWP is cheaper with a 0.35% expense ratio, compared with 0.38% for IAK.

IAK has the higher dividend yield at 2.63%, compared with 2.36% for KBWP.

IAK tracks Dow Jones U.S. Select Insurance Index, while KBWP tracks KBW Nasdaq Property & Casualty (TR). They also come from different issuers: iShares and Invesco. Their fees differ too: 0.38% for IAK and 0.35% for KBWP.

IAK currently has the higher Sharpe Ratio (0.36 vs 0.09), 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 IAK and KBWP

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