KBWB vs. SPHQ
Compare and contrast key facts about Invesco KBW Bank ETF (KBWB) and Invesco S&P 500 Quality ETF (SPHQ).
KBWB and SPHQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. SPHQ is a passively managed fund by Invesco that tracks the performance of the S&P 500 Quality Index. It was launched on Dec 6, 2005. Both KBWB and SPHQ 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
KBWB vs. SPHQ - Performance Comparison
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KBWB vs. SPHQ - 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% |
SPHQ Invesco S&P 500 Quality ETF | 0.57% | 13.25% | 25.44% | 24.83% | -15.76% | 28.03% | 17.36% | 33.64% | -7.10% | 19.10% |
Returns By Period
In the year-to-date period, KBWB achieves a -5.53% return, which is significantly lower than SPHQ's 0.57% return. Over the past 10 years, KBWB has underperformed SPHQ with an annualized return of 11.89%, while SPHQ has yielded a comparatively higher 13.53% 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%
SPHQ
- 1D
- 2.36%
- 1M
- -6.75%
- YTD
- 0.57%
- 6M
- 3.29%
- 1Y
- 14.73%
- 3Y*
- 18.19%
- 5Y*
- 12.50%
- 10Y*
- 13.53%
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KBWB vs. SPHQ - Expense Ratio Comparison
KBWB has a 0.35% expense ratio, which is higher than SPHQ's 0.15% expense ratio.
Return for Risk
KBWB vs. SPHQ — Risk / Return Rank
KBWB
SPHQ
KBWB vs. SPHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Bank ETF (KBWB) and Invesco S&P 500 Quality ETF (SPHQ). 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 | SPHQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.12 | 0.86 | +0.26 |
Sortino ratioReturn per unit of downside risk | 1.53 | 1.34 | +0.19 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.18 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.88 | 1.46 | +0.42 |
Martin ratioReturn relative to average drawdown | 5.58 | 6.45 | -0.87 |
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
| KBWB | SPHQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.12 | 0.86 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.77 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.76 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.50 | -0.02 |
Correlation
The correlation between KBWB and SPHQ is 0.64, 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
KBWB vs. SPHQ - Dividend Comparison
KBWB's dividend yield for the trailing twelve months is around 2.27%, more than SPHQ's 1.19% 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% |
SPHQ Invesco S&P 500 Quality ETF | 1.19% | 1.09% | 1.15% | 1.42% | 1.85% | 1.19% | 1.55% | 1.51% | 1.85% | 1.57% | 1.67% | 2.29% |
Drawdowns
KBWB vs. SPHQ - Drawdown Comparison
The maximum KBWB drawdown since its inception was -50.27%, smaller than the maximum SPHQ drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for KBWB and SPHQ.
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Drawdown Indicators
| KBWB | SPHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.27% | -57.83% | +7.56% |
Max Drawdown (1Y)Largest decline over 1 year | -16.38% | -10.84% | -5.54% |
Max Drawdown (5Y)Largest decline over 5 years | -49.31% | -25.04% | -24.27% |
Max Drawdown (10Y)Largest decline over 10 years | -50.27% | -31.60% | -18.67% |
Current DrawdownCurrent decline from peak | -12.21% | -6.75% | -5.46% |
Average DrawdownAverage peak-to-trough decline | -11.82% | -10.78% | -1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.51% | 2.45% | +3.06% |
Volatility
KBWB vs. SPHQ - Volatility Comparison
Invesco KBW Bank ETF (KBWB) has a higher volatility of 6.61% compared to Invesco S&P 500 Quality ETF (SPHQ) at 5.40%. This indicates that KBWB's price experiences larger fluctuations and is considered to be riskier than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBWB | SPHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.61% | 5.40% | +1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 15.99% | 9.64% | +6.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.00% | 17.13% | +8.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.65% | 16.40% | +10.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.25% | 17.81% | +11.44% |