KBWB vs. JPM

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco KBW Bank ETF (KBWB) and JPMorgan Chase & Co. (JPM).

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.

Performance

KBWB vs. JPM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco KBW Bank ETF (KBWB) and JPMorgan Chase & Co. (JPM). The values are adjusted to include any dividend payments, if applicable.

KBWB vs. JPM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KBWB Invesco KBW Bank ETF	-5.53%	32.05%	36.73%	-1.18%	-21.68%	37.72%	-10.46%	35.90%	-18.30%	18.11%
JPM JPMorgan Chase & Co.	-8.30%	37.27%	44.29%	30.63%	-12.64%	27.75%	-5.53%	47.26%	-6.62%	26.76%

Returns By Period

In the year-to-date period, KBWB achieves a -5.53% return, which is significantly higher than JPM's -8.30% return. Over the past 10 years, KBWB has underperformed JPM with an annualized return of 11.89%, while JPM has yielded a comparatively higher 20.45% annualized return.

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%

JPM

• 1D: 3.66%
• 1M: -2.04%
• YTD: -8.30%
• 6M: -5.87%
• 1Y: 22.38%
• 3Y*: 34.32%
• 5Y*: 16.79%
• 10Y*: 20.45%

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

Return for Risk

KBWB vs. JPM — 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

JPM

JPM Risk / Return Rank: 70
JPM Sharpe Ratio Rank: 73
JPM Sortino Ratio Rank: 64
JPM Omega Ratio Rank: 65
JPM Calmar Ratio Rank: 73
JPM Martin Ratio Rank: 74

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.

KBWB vs. JPM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Bank ETF (KBWB) and JPMorgan Chase & Co. (JPM). 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.

	KBWB	JPM	Difference
Sharpe ratio Return per unit of total volatility	1.12	0.89	+0.23
Sortino ratio Return per unit of downside risk	1.53	1.28	+0.24
Omega ratio Gain probability vs. loss probability	1.24	1.18	+0.05
Calmar ratio Return relative to maximum drawdown	1.88	1.53	+0.35
Martin ratio Return relative to average drawdown	5.58	4.16	+1.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KBWB vs. JPM - Sharpe Ratio Comparison

The current KBWB Sharpe Ratio is 1.12, which is comparable to the JPM Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of KBWB and JPM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	KBWB	JPM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.12	0.89	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.69	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.75	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.34	+0.14

Correlation

The correlation between KBWB and JPM is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

KBWB vs. JPM - Dividend Comparison

KBWB's dividend yield for the trailing twelve months is around 2.27%, more than JPM's 1.97% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
JPM JPMorgan Chase & Co.	1.97%	1.72%	1.92%	2.38%	2.98%	2.34%	2.83%	2.37%	2.54%	1.91%	2.13%	2.54%

Drawdowns

KBWB vs. JPM - Drawdown Comparison

The maximum KBWB drawdown since its inception was -50.27%, smaller than the maximum JPM drawdown of -76.16%. Use the drawdown chart below to compare losses from any high point for KBWB and JPM.

Drawdown Indicators

	KBWB	JPM	Difference
Max Drawdown Largest peak-to-trough decline	-50.27%	-76.16%	+25.89%
Max Drawdown (1Y) Largest decline over 1 year	-16.38%	-15.47%	-0.91%
Max Drawdown (5Y) Largest decline over 5 years	-49.31%	-38.77%	-10.54%
Max Drawdown (10Y) Largest decline over 10 years	-50.27%	-43.63%	-6.64%
Current Drawdown Current decline from peak	-12.21%	-12.09%	-0.12%
Average Drawdown Average peak-to-trough decline	-11.82%	-17.66%	+5.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.51%	5.67%	-0.16%

Volatility

KBWB vs. JPM - Volatility Comparison

Invesco KBW Bank ETF (KBWB) and JPMorgan Chase & Co. (JPM) have volatilities of 6.61% and 6.34%, 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.

Volatility by Period

	KBWB	JPM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.61%	6.34%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	15.99%	17.19%	-1.20%
Volatility (1Y) Calculated over the trailing 1-year period	26.00%	25.25%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.65%	24.34%	+2.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.25%	27.38%	+1.87%