INDF vs. KBWB

Last updated Apr 1, 2026

Compare and contrast key facts about Nifty India Financials ETF (INDF) and Invesco KBW Bank ETF (KBWB).

INDF and KBWB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. INDF is a passively managed fund by Exchange Traded Concepts that tracks the performance of the Nifty Financial Services 25/50 Index. It was launched on Oct 20, 2020. KBWB is a passively managed fund by Invesco that tracks the performance of the KBW Nasdaq Bank Index. It was launched on Nov 1, 2011. Both INDF and KBWB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

INDF vs. KBWB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nifty India Financials ETF (INDF) and Invesco KBW Bank ETF (KBWB). The values are adjusted to include any dividend payments, if applicable.

INDF vs. KBWB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
INDF Nifty India Financials ETF	0.00%	8.17%	6.32%	19.86%	-5.28%	11.95%	23.97%
KBWB Invesco KBW Bank ETF	-5.53%	32.05%	36.73%	-1.18%	-21.68%	37.72%	27.13%

Returns By Period

INDF

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KBWB

• 1D: 3.56%
• 1M: -2.73%
• YTD: -5.53%
• 6M: 2.34%
• 1Y: 29.02%
• 3Y*: 27.16%
• 5Y*: 7.87%
• 10Y*: 11.89%

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

INDF vs. KBWB - Expense Ratio Comparison

INDF has a 0.75% expense ratio, which is higher than KBWB's 0.35% expense ratio.

INDF

Nifty India Financials ETF

KBWB

Invesco KBW Bank ETF

Return for Risk

INDF vs. KBWB — Risk / Return Rank

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

KBWB

KBWB Risk / Return Rank: 67
KBWB Sharpe Ratio Rank: 67
KBWB Sortino Ratio Rank: 63
KBWB Omega Ratio Rank: 67
KBWB Calmar Ratio Rank: 75
KBWB Martin Ratio Rank: 61

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.

INDF vs. KBWB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nifty India Financials ETF (INDF) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	INDF	KBWB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.12	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.30	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.47	—

Correlation

The correlation between INDF and KBWB is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

INDF vs. KBWB - Dividend Comparison

INDF's dividend yield for the trailing twelve months is around 21.29%, more than KBWB's 2.27% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INDF Nifty India Financials ETF	21.29%	21.29%	6.15%	8.84%	3.12%	1.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KBWB Invesco KBW Bank ETF	2.27%	2.04%	2.46%	3.20%	3.05%	2.13%	2.62%	2.38%	2.54%	1.35%	1.53%	1.53%

Drawdowns

Drawdown Indicators

	INDF	KBWB	Difference
Max Drawdown Largest peak-to-trough decline	—	-50.27%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-16.38%	—
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	—	-12.21%	—
Average Drawdown Average peak-to-trough decline	—	-11.82%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.51%	—

Volatility

Volatility by Period

	INDF	KBWB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.61%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	26.00%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	26.65%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	29.25%	—