KBE vs. KBWP
Compare and contrast key facts about SPDR S&P Bank ETF (KBE) and Invesco KBW Property & Casualty Insurance ETF (KBWP).
KBE and KBWP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KBE is a passively managed fund by State Street that tracks the performance of the S&P Banks Select Industry Index. It was launched on Nov 8, 2005. KBWP is a passively managed fund by Invesco that tracks the performance of the KBW Nasdaq Property & Casualty (TR). It was launched on Dec 2, 2010. Both KBE and KBWP 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
KBE vs. KBWP - Performance Comparison
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KBE vs. KBWP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KBE SPDR S&P Bank ETF | -1.31% | 12.36% | 23.78% | 5.30% | -14.83% | 33.46% | -8.75% | 29.78% | -19.65% | 10.49% |
KBWP Invesco KBW Property & Casualty Insurance ETF | -5.76% | 11.49% | 30.45% | 7.09% | 10.16% | 20.61% | -2.05% | 28.67% | -2.76% | 8.86% |
Returns By Period
In the year-to-date period, KBE achieves a -1.31% return, which is significantly higher than KBWP's -5.76% return. Over the past 10 years, KBE has underperformed KBWP with an annualized return of 9.58%, while KBWP has yielded a comparatively higher 11.51% annualized return.
KBE
- 1D
- 2.51%
- 1M
- -1.89%
- YTD
- -1.31%
- 6M
- 1.47%
- 1Y
- 15.33%
- 3Y*
- 20.45%
- 5Y*
- 5.49%
- 10Y*
- 9.58%
KBWP
- 1D
- 0.13%
- 1M
- -5.12%
- YTD
- -5.76%
- 6M
- -2.54%
- 1Y
- -2.65%
- 3Y*
- 14.71%
- 5Y*
- 11.89%
- 10Y*
- 11.51%
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KBE vs. KBWP - Expense Ratio Comparison
Both KBE and KBWP have an expense ratio of 0.35%.
Return for Risk
KBE vs. KBWP — Risk / Return Rank
KBE
KBWP
KBE vs. KBWP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Bank ETF (KBE) 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.
| KBE | KBWP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.59 | -0.14 | +0.73 |
Sortino ratioReturn per unit of downside risk | 0.94 | -0.06 | +1.00 |
Omega ratioGain probability vs. loss probability | 1.14 | 0.99 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.11 | -0.14 | +1.26 |
Martin ratioReturn relative to average drawdown | 2.83 | -0.37 | +3.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KBE | KBWP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | -0.14 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.65 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 0.56 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.71 | -0.62 |
Correlation
The correlation between KBE and KBWP is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
KBE vs. KBWP - Dividend Comparison
KBE's dividend yield for the trailing twelve months is around 2.49%, more than KBWP's 1.97% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBE SPDR S&P Bank ETF | 2.49% | 2.51% | 2.35% | 2.78% | 2.99% | 2.16% | 2.44% | 2.33% | 2.18% | 1.36% | 1.39% | 1.70% |
KBWP Invesco KBW Property & Casualty Insurance ETF | 1.97% | 1.58% | 1.64% | 1.68% | 1.99% | 3.02% | 1.93% | 1.99% | 2.11% | 1.90% | 2.14% | 1.35% |
Drawdowns
KBE vs. KBWP - Drawdown Comparison
The maximum KBE drawdown since its inception was -83.15%, which is greater than KBWP's maximum drawdown of -39.76%. Use the drawdown chart below to compare losses from any high point for KBE and KBWP.
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Drawdown Indicators
| KBE | KBWP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.15% | -39.76% | -43.39% |
Max Drawdown (1Y)Largest decline over 1 year | -14.63% | -11.59% | -3.04% |
Max Drawdown (5Y)Largest decline over 5 years | -45.25% | -17.00% | -28.25% |
Max Drawdown (10Y)Largest decline over 10 years | -53.14% | -39.76% | -13.38% |
Current DrawdownCurrent decline from peak | -11.14% | -6.54% | -4.60% |
Average DrawdownAverage peak-to-trough decline | -27.72% | -4.35% | -23.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.76% | 4.48% | +1.28% |
Volatility
KBE vs. KBWP - Volatility Comparison
SPDR S&P Bank ETF (KBE) has a higher volatility of 5.27% compared to Invesco KBW Property & Casualty Insurance ETF (KBWP) at 4.31%. This indicates that KBE's price experiences larger fluctuations and is considered to be riskier than KBWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBE | KBWP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.27% | 4.31% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 16.69% | 11.79% | +4.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.13% | 19.27% | +6.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.44% | 18.49% | +8.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.90% | 20.65% | +9.25% |