IYF vs. KWT

Last updated Jul 17, 2026

IYF (iShares U.S. Financials ETF) and KWT (iShares MSCI Kuwait ETF) are both Financials Equities funds from iShares - IYF tracks the Russell 1000 Financials 40 Act 15/22.5 Daily Capped Index while KWT tracks the MSCI All Kuwait Select Size Liquidity Capped Index. Both are passively managed. Over the past 5 years, IYF returned 12.38%/yr vs 8.57%/yr for KWT. At a 0.35 correlation, their price movements are largely independent. IYF charges 0.38%/yr vs 0.74%/yr for KWT.

Performance

IYF vs. KWT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Financials ETF (IYF) and iShares MSCI Kuwait ETF (KWT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IYF achieves a 5.20% return, which is significantly higher than KWT's -3.12% return.

IYF

• 1D: 0.04%
• 1M: 3.85%
• 6M: 4.52%
• YTD: 5.20%
• 1Y: 12.96%
• 3Y*: 22.42%
• 5Y*: 12.38%
• 10Y*: 13.63%

KWT

• 1D: 0.40%
• 1M: -3.47%
• 6M: -0.93%
• YTD: -3.12%
• 1Y: -0.91%
• 3Y*: 7.70%
• 5Y*: 8.57%
• 10Y*: —

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

IYF vs. KWT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IYF iShares U.S. Financials ETF	5.20%	18.25%	31.30%	15.32%	-11.33%	31.60%	11.85%
KWT iShares MSCI Kuwait ETF	-3.12%	25.38%	11.29%	-4.71%	5.16%	30.73%	7.37%

Correlation

The correlation between IYF and KWT is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since Sep 3, 2020	0.35

IYF vs. KWT - Sectors Allocation Comparison

Sectors	IYF	KWT
Financial Services	99.1%	66.0%
Real Estate	0.6%	11.3%
Technology	0.3%	-
Basic Materials	-	2.0%
Communication Services	-	6.3%
Consumer Cyclical	-	1.7%
Consumer Defensive	-	2.6%
Energy	-	-
Healthcare	-	-
Industrials	-	9.5%
Utilities	-	0.6%

Return for Risk

IYF vs. KWT — Risk / Return Rank

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

IYF

IYF Risk / Return Rank: 27
IYF Sharpe Ratio Rank: 30
IYF Sortino Ratio Rank: 28
IYF Omega Ratio Rank: 28
IYF Calmar Ratio Rank: 24
IYF Martin Ratio Rank: 24

KWT

KWT Risk / Return Rank: 8
KWT Sharpe Ratio Rank: 9
KWT Sortino Ratio Rank: 8
KWT Omega Ratio Rank: 8
KWT Calmar Ratio Rank: 9
KWT Martin Ratio Rank: 9

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.

IYF vs. KWT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Financials ETF (IYF) and iShares MSCI Kuwait ETF (KWT). 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.

	IYF	KWT	Difference
Sharpe ratio: Return per unit of total volatility	0.90	-0.07	+0.96
Sortino ratio: Return per unit of downside risk	1.29	-0.00	+1.29
Omega ratio: Gain probability vs. loss probability	1.16	1.00	+0.16
Calmar ratio: Return relative to maximum drawdown	0.94	-0.08	+1.02
Martin ratio: Return relative to average drawdown	2.52	-0.17	+2.69

IYF vs. KWT - Sharpe Ratio Comparison

The current IYF Sharpe Ratio is 0.90, which is higher than the KWT Sharpe Ratio of -0.07. The chart below compares the historical Sharpe Ratios of IYF and KWT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IYF vs. KWT - Drawdown Comparison

The maximum IYF drawdown since its inception was -79.09%, which is greater than KWT's maximum drawdown of -24.37%. Use the drawdown chart below to compare losses from any high point for IYF and KWT.

Drawdown Indicators

	IYF	KWT	Difference
Max Drawdown Largest peak-to-trough decline	-79.09%	-24.37%	-54.72%
Max Drawdown (1Y) Largest decline over 1 year	-13.88%	-11.54%	-2.34%
Max Drawdown (3Y) Largest decline over 3 years	-16.60%	-15.12%	-1.48%
Max Drawdown (5Y) Largest decline over 5 years	-25.06%	-24.37%	-0.69%
Max Drawdown (10Y) Largest decline over 10 years	-42.57%	—	—
Current Drawdown Current decline from peak	0.00%	-7.80%	+7.80%
Average Drawdown Average peak-to-trough decline	-17.54%	-7.29%	-10.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.16%	5.31%	-0.15%

Volatility

IYF vs. KWT - Volatility Comparison

iShares U.S. Financials ETF (IYF) has a higher volatility of 4.05% compared to iShares MSCI Kuwait ETF (KWT) at 3.24%. This indicates that IYF's price experiences larger fluctuations and is considered to be riskier than KWT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IYF	KWT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	3.24%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	11.13%	10.20%	+0.93%
Volatility (1Y) Calculated over the trailing 1-year period	14.57%	13.38%	+1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.00%	13.64%	+5.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.80%	13.91%	+6.89%

IYF vs. KWT - Expense Ratio Comparison

IYF has a 0.38% expense ratio, which is lower than KWT's 0.74% expense ratio.

Dividends

IYF vs. KWT - Dividend Comparison

IYF's dividend yield for the trailing twelve months is around 1.42%, less than KWT's 5.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IYF iShares U.S. Financials ETF	1.42%	1.32%	1.29%	1.67%	1.86%	1.27%	1.72%	1.64%	1.90%	1.46%	1.67%	1.66%
KWT iShares MSCI Kuwait ETF	5.68%	5.40%	6.09%	2.25%	5.87%	7.65%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IYF and KWT in my portfolio?

IYF and KWT have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYF or KWT?

IYF has higher volatility (4.05%) compared to KWT (3.24%). In terms of maximum drawdown, IYF dropped -79.09% vs KWT's -24.37%.

Which ETF is better, IYF or KWT?

On 5-year performance, IYF leads with 12.38% vs 8.57% for KWT. On fees, IYF is cheaper at 0.38% per year. On volatility, KWT has been the lower-risk option at 3.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYF or KWT?

Over the 5-year period, IYF has performed better with a 12.38% return vs 8.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYF or KWT?

IYF is cheaper with a 0.38% expense ratio, compared with 0.74% for KWT.

Which ETF pays a higher dividend yield, IYF or KWT?

KWT has the higher dividend yield at 5.68%, compared with 1.42% for IYF.

What is the main difference between IYF and KWT?

IYF tracks Russell 1000 Financials 40 Act 15/22.5 Daily Capped Index, while KWT tracks MSCI All Kuwait Select Size Liquidity Capped Index. Their fees differ too: 0.38% for IYF and 0.74% for KWT.

Which has better risk-adjusted returns?

IYF currently has the higher Sharpe Ratio (0.90 vs -0.07), 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.