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IYG vs. KBWP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYG vs. KBWP

Last updated Jun 5, 2026

IYG (iShares U.S. Financial Services ETF) and KBWP (Invesco KBW Property & Casualty Insurance ETF) are both Financials Equities funds - IYG tracks the Dow Jones U.S. Financial Services TR while KBWP tracks the KBW Nasdaq Property & Casualty (TR). Both are passively managed. Over the past 10 years, IYG returned 13.56%/yr vs 11.38%/yr for KBWP. A 0.56 correlation means they provide meaningful diversification when combined. IYG charges 0.42%/yr vs 0.35%/yr for KBWP.

Performance

IYG vs. KBWP - Performance Comparison

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

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Returns By Period

In the year-to-date period, IYG achieves a -3.88% return, which is significantly higher than KBWP's -7.65% return. Over the past 10 years, IYG has outperformed KBWP with an annualized return of 13.56%, while KBWP has yielded a comparatively lower 11.38% annualized return.

IYG

1D
2.82%
1M
1.39%
YTD
-3.88%
6M
-1.63%
1Y
9.20%
3Y*
21.76%
5Y*
8.46%
10Y*
13.56%

KBWP

1D
1.27%
1M
-1.78%
YTD
-7.65%
6M
-3.49%
1Y
-4.40%
3Y*
15.25%
5Y*
10.25%
10Y*
11.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYG vs. KBWP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYG
iShares U.S. Financial Services ETF		-3.88%19.85%31.94%16.07%-16.76%30.36%0.99%37.62%-12.56%24.47%
KBWP
Invesco KBW Property & Casualty Insurance ETF		-7.65%11.49%30.45%7.09%10.16%20.61%-2.05%28.67%-2.76%8.86%

Correlation

The correlation between IYG 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

0.51

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

0.60

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

0.63

Correlation (All Time)
Calculated using the full available price history since Dec 23, 2010

0.56

The correlation between IYG and KBWP shifts across timeframes, from 0.39 (1 year) to 0.63 (10 years), reflecting how their relationship changes across market environments.

IYG vs. KBWP - Sectors Allocation Comparison

Sectors
IYG
KBWP

Financial Services

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

IYG
100.0%
KBWP
100.0%

Basic Materials

IYG

-

KBWP

-

Communication Services

IYG

-

KBWP

-

Consumer Cyclical

IYG

-

KBWP

-

Consumer Defensive

IYG

-

KBWP

-

Energy

IYG

-

KBWP

-

Healthcare

IYG

-

KBWP

-

Industrials

IYG

-

KBWP

-

Real Estate

IYG

-

KBWP

-

Technology

IYG

-

KBWP

-

Utilities

IYG

-

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. Financial Services ETF

Invesco KBW Property & Casualty Insurance ETF

Often compared with IYG:
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Often compared with KBWP:
KBWP vs. IAKKBWP vs. KIEKBWP vs. KBEKBWP vs. ACGLKBWP vs. PSCFKBWP vs. VOOKBWP vs. TRV

Return for Risk

IYG vs. KBWP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYG
IYG Risk / Return Rank: 1818
Overall Rank
IYG Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
IYG Sortino Ratio Rank: 1919
Sortino Ratio Rank
IYG Omega Ratio Rank: 1919
Omega Ratio Rank
IYG Calmar Ratio Rank: 1717
Calmar Ratio Rank
IYG Martin Ratio Rank: 1616
Martin Ratio Rank
KBWP
KBWP Risk / Return Rank: 66
Overall Rank
KBWP Sharpe Ratio Rank: 66
Sharpe Ratio Rank
KBWP Sortino Ratio Rank: 66
Sortino Ratio Rank
KBWP Omega Ratio Rank: 66
Omega Ratio Rank
KBWP Calmar Ratio Rank: 55
Calmar Ratio Rank
KBWP Martin Ratio Rank: 44
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.

IYG vs. KBWP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Financial Services ETF (IYG) 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.

IYGKBWPDifference
Sharpe ratioReturn per unit of total volatility
0.59
-0.27

+0.86

Sortino ratioReturn per unit of downside risk
0.89
-0.26

+1.15

Omega ratioGain probability vs. loss probability

1.11

0.97

+0.15

Calmar ratioReturn relative to maximum drawdown

0.58

-0.46

+1.04

Martin ratioReturn relative to average drawdown

1.51

-0.97

+2.48

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYG vs. KBWP - Sharpe Ratio Comparison

The current IYG Sharpe Ratio is 0.59, which is higher than the KBWP Sharpe Ratio of -0.27. The chart below compares the historical Sharpe Ratios of IYG 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.

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Sharpe Ratios by Period

IYGKBWPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.59

-0.27

+0.86

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.42

0.56

-0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

0.55

+0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.22

0.69

-0.47

Drawdowns

IYG vs. KBWP - Drawdown Comparison

The maximum IYG drawdown since its inception was -81.84%, which is greater than KBWP's maximum drawdown of -39.76%. Use the drawdown chart below to compare losses from any high point for IYG and KBWP.

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Drawdown Indicators

IYGKBWPDifference

Max Drawdown

Largest peak-to-trough decline

-81.84%

-39.76%

-42.08%

Max Drawdown (1Y)

Largest decline over 1 year

-15.90%

-9.56%

-6.34%

Max Drawdown (3Y)

Largest decline over 3 years

-18.54%

-12.29%

-6.25%

Max Drawdown (5Y)

Largest decline over 5 years

-29.62%

-17.00%

-12.62%

Max Drawdown (10Y)

Largest decline over 10 years

-44.32%

-39.76%

-4.56%

Current Drawdown

Current decline from peak

-7.23%

-8.42%

+1.19%

Average Drawdown

Average peak-to-trough decline

-20.74%

-4.37%

-16.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.11%

4.56%

+1.55%

Volatility

IYG vs. KBWP - Volatility Comparison

iShares U.S. Financial Services ETF (IYG) and Invesco KBW Property & Casualty Insurance ETF (KBWP) have volatilities of 4.41% and 4.38%, 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.

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Volatility by Period

IYGKBWPDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.41%

4.38%

+0.03%

Volatility (6M)

Calculated over the trailing 6-month period

12.10%

11.48%

+0.62%

Volatility (1Y)

Calculated over the trailing 1-year period

15.65%

16.25%

-0.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.47%

18.54%

+1.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.54%

20.70%

+2.84%

IYG vs. KBWP - Expense Ratio Comparison

IYG has a 0.42% expense ratio, which is higher than KBWP's 0.35% expense ratio.

Dividends

IYG vs. KBWP - Dividend Comparison

IYG's dividend yield for the trailing twelve months is around 1.11%, less than KBWP's 2.01% yield.

PositionTTM20252024202320222021202020192018201720162015
IYG
iShares U.S. Financial Services ETF		1.11%1.00%1.16%1.77%2.07%1.25%1.71%1.59%1.81%1.24%1.28%1.33%
KBWP
Invesco KBW Property & Casualty Insurance ETF		2.01%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

IYG 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.

IYG has higher volatility (4.41%) compared to KBWP (4.38%). In terms of maximum drawdown, IYG dropped -81.84% vs KBWP's -39.76%.

On 10-year performance, IYG leads with 13.56% vs 11.38% 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, IYG has performed better with a 13.56% return vs 11.38%. 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 0.42% for IYG.

KBWP has the higher dividend yield at 2.01%, compared with 1.11% for IYG.

IYG tracks Dow Jones U.S. Financial Services TR, while KBWP tracks KBW Nasdaq Property & Casualty (TR). They also come from different issuers: iShares and Invesco. Their fees differ too: 0.42% for IYG and 0.35% for KBWP.

IYG currently has the higher Sharpe Ratio (0.59 vs -0.27), 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.

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