KBWB vs. GS
KBWB (Invesco KBW Bank ETF) is Financials Equities fund tracking the KBW Nasdaq Bank Index, while GS (The Goldman Sachs Group, Inc.) is a stock. Over the past 10 years, KBWB returned 13.69%/yr vs 23.14%/yr for GS. Their 0.80 correlation means they have sometimes moved together and sometimes differently.
Performance
KBWB vs. GS - Performance Comparison
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Returns By Period
In the year-to-date period, KBWB achieves a 15.29% return, which is significantly lower than GS's 16.98% return. Over the past 10 years, KBWB has underperformed GS with an annualized return of 13.69%, while GS has yielded a comparatively higher 23.14% annualized return.
KBWB
- 1D
- 0.20%
- 1M
- 1.73%
- 6M
- 12.74%
- YTD
- 15.29%
- 1Y
- 36.87%
- 3Y*
- 31.95%
- 5Y*
- 11.96%
- 10Y*
- 13.69%
- ALL TIME*
- 13.87%
GS
- 1D
- -0.63%
- 1M
- -0.26%
- 6M
- 9.93%
- YTD
- 16.98%
- 1Y
- 46.41%
- 3Y*
- 45.09%
- 5Y*
- 25.12%
- 10Y*
- 23.14%
- ALL TIME*
- 11.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.08B | $2.11B | $2.25B | |
| $147.63M | $184.17M | $155.76M |
KBWB vs. GS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KBWB Invesco KBW Bank ETF | 15.29% | 32.05% | 36.73% | -1.18% | -21.68% | 37.72% | -10.46% | 35.90% | -18.30% | 18.11% |
GS The Goldman Sachs Group, Inc. | 16.98% | 56.64% | 52.03% | 15.91% | -7.87% | 47.61% | 17.45% | 40.48% | -33.53% | 7.73% |
Correlation
The correlation between KBWB and GS is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2011 | 0.80 |
The correlation between KBWB and GS has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.
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Return for Risk
KBWB vs. GS — Risk / Return Rank
KBWB
GS
KBWB vs. GS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Bank ETF (KBWB) and The Goldman Sachs Group, Inc. (GS). 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.
| KBWB | GS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.25 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 2.25 | -0.19 |
| Martin ratioReturn relative to average drawdown | 6.52 | 6.94 | -0.42 |
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Drawdowns
KBWB vs. GS - Drawdown Comparison
The maximum KBWB drawdown since its inception was -50.27%, smaller than the maximum GS drawdown of -78.84%. Use the drawdown chart below to compare losses from any high point for KBWB and GS.
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Drawdown Indicators
| KBWB | GS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.27% | -78.84% | +28.57% |
Max Drawdown (1Y)Largest decline over 1 year | -16.38% | -19.42% | +3.04% |
Max Drawdown (3Y)Largest decline over 3 years | -25.43% | -30.90% | +5.47% |
Max Drawdown (5Y)Largest decline over 5 years | -49.31% | -32.84% | -16.47% |
Max Drawdown (10Y)Largest decline over 10 years | -50.27% | -48.75% | -1.52% |
Current DrawdownCurrent decline from peak | -2.41% | -11.60% | +9.19% |
Average DrawdownAverage peak-to-trough decline | -11.62% | -22.57% | +10.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.18% | 6.30% | -1.12% |
Volatility
KBWB vs. GS - Volatility Comparison
The current volatility for Invesco KBW Bank ETF (KBWB) is 5.81%, while The Goldman Sachs Group, Inc. (GS) has a volatility of 14.38%. This indicates that KBWB experiences smaller price fluctuations and is considered to be less risky than GS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBWB | GS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.81% | 14.38% | -8.57% |
Volatility (6M)Calculated over the trailing 6-month period | 15.94% | 26.02% | -10.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.60% | 31.51% | -10.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.39% | 28.60% | -2.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.06% | 30.06% | -1.00% |
Dividends
KBWB vs. GS - Dividend Comparison
KBWB's dividend yield for the trailing twelve months is around 1.93%, more than GS's 1.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GS The Goldman Sachs Group, Inc. | 1.67% | 1.59% | 2.01% | 2.72% | 2.62% | 1.70% | 1.90% | 1.80% | 1.89% | 1.14% | 1.09% | 1.41% |
KBWB Invesco KBW Bank ETF | 1.93% | 2.04% | 2.46% | 3.20% | 3.05% | 2.13% | 2.62% | 2.38% | 2.54% | 1.35% | 1.53% | 1.53% |
Frequently Asked Questions
KBWB and GS have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GS has higher volatility (14.38%) compared to KBWB (5.81%). In terms of maximum drawdown, KBWB dropped -50.27% vs GS's -78.84%.
KBWB currently has the higher Sharpe Ratio (1.64 vs 1.39), 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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