KBWB vs. XLFI

Last updated Aug 2, 2026

KBWB (Invesco KBW Bank ETF) and XLFI (State Street Financial Select Sector SPDR Premium Income ETF) are both exchange-traded funds - KBWB is a Financials Equities fund tracking the KBW Nasdaq Bank Index, while XLFI is a Derivative Income fund actively managed by State Street. KBWB is passively managed, while XLFI is actively managed. Over the past year, KBWB returned 36.87% vs 11.31% for XLFI. Their correlation of 0.81 means they have usually moved in the same direction. Both charge a 0.35% expense ratio.

Performance

KBWB vs. XLFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco KBW Bank ETF (KBWB) and State Street Financial Select Sector SPDR Premium Income ETF (XLFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KBWB achieves a 15.29% return, which is significantly higher than XLFI's 3.17% 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%

XLFI

• 1D: -0.41%
• 1M: 2.09%
• 6M: 4.95%
• YTD: 3.17%
• 1Y: 11.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.72%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KBWB Invesco KBW Bank ETF	$147.63M	$184.17M	$155.76M
XLFI State Street Financial Select Sector SPDR Premium Income ETF	$205.39K	$226.21K	$175.11K

KBWB vs. XLFI - Yearly Performance Comparison

	2026 (YTD)	2025
KBWB Invesco KBW Bank ETF	15.29%	14.15%
XLFI State Street Financial Select Sector SPDR Premium Income ETF	3.17%	5.40%

Correlation

The correlation between KBWB and XLFI is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.81

The correlation between KBWB and XLFI has been stable across timeframes, ranging from 0.81 to 0.81 - a consistent structural relationship.

KBWB vs. XLFI - Sectors Allocation Comparison

Sectors	KBWB	XLFI
Financial Services	100.0%	100.4%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

KBWB vs. XLFI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KBWB

KBWB Risk / Return Rank: 65
KBWB Sharpe Ratio Rank: 73
KBWB Sortino Ratio Rank: 67
KBWB Omega Ratio Rank: 69
KBWB Calmar Ratio Rank: 59
KBWB Martin Ratio Rank: 55

XLFI

XLFI Risk / Return Rank: 29
XLFI Sharpe Ratio Rank: 33
XLFI Sortino Ratio Rank: 29
XLFI Omega Ratio Rank: 31
XLFI Calmar Ratio Rank: 26
XLFI Martin Ratio Rank: 27

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KBWB vs. XLFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Bank ETF (KBWB) and State Street Financial Select Sector SPDR Premium Income ETF (XLFI). 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	XLFI	Difference
Sharpe ratio: Return per unit of total volatility	1.64	0.81	+0.84
Sortino ratio: Return per unit of downside risk	2.20	1.12	+1.09
Omega ratio: Gain probability vs. loss probability	1.29	1.15	+0.14
Calmar ratio: Return relative to maximum drawdown	2.06	0.80	+1.26
Martin ratio: Return relative to average drawdown	6.52	2.26	+4.26

KBWB vs. XLFI - Sharpe Ratio Comparison

The current KBWB Sharpe Ratio is 1.64, which is higher than the XLFI Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of KBWB and XLFI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KBWB vs. XLFI - Drawdown Comparison

The maximum KBWB drawdown since its inception was -50.27%, which is greater than XLFI's maximum drawdown of -11.89%. Use the drawdown chart below to compare losses from any high point for KBWB and XLFI.

Drawdown Indicators

	KBWB	XLFI	Difference
Max Drawdown Largest peak-to-trough decline	-50.27%	-11.89%	-38.38%
Max Drawdown (1Y) Largest decline over 1 year	-16.38%	-11.89%	-4.49%
Max Drawdown (3Y) Largest decline over 3 years	-25.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-49.31%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.27%	—	—
Current Drawdown Current decline from peak	-2.41%	-1.11%	-1.30%
Average Drawdown Average peak-to-trough decline	-11.62%	-3.02%	-8.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	4.22%	+0.96%

Volatility

KBWB vs. XLFI - Volatility Comparison

Invesco KBW Bank ETF (KBWB) has a higher volatility of 5.81% compared to State Street Financial Select Sector SPDR Premium Income ETF (XLFI) at 2.78%. This indicates that KBWB's price experiences larger fluctuations and is considered to be riskier than XLFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KBWB	XLFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.81%	2.78%	+3.03%
Volatility (6M) Calculated over the trailing 6-month period	15.94%	9.08%	+6.86%
Volatility (1Y) Calculated over the trailing 1-year period	20.60%	11.88%	+8.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.39%	11.85%	+14.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.06%	11.85%	+17.21%

KBWB vs. XLFI - Expense Ratio Comparison

Both KBWB and XLFI have an expense ratio of 0.35%.

Dividends

KBWB vs. XLFI - Dividend Comparison

KBWB's dividend yield for the trailing twelve months is around 1.93%, less than XLFI's 11.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XLFI State Street Financial Select Sector SPDR Premium Income ETF	11.29%	5.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KBWB and XLFI in my portfolio?

KBWB and XLFI have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KBWB or XLFI?

KBWB has higher volatility (5.81%) compared to XLFI (2.78%). In terms of maximum drawdown, KBWB dropped -50.27% vs XLFI's -11.89%.

Which ETF is better, KBWB or XLFI?

On 1-year performance, KBWB leads with 36.87% vs 11.31% for XLFI. Both ETFs have the same 0.35% expense ratio. On volatility, XLFI has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KBWB or XLFI?

Over the 1-year period, KBWB has performed better with a 36.87% return vs 11.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KBWB or XLFI?

KBWB and XLFI have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, KBWB or XLFI?

XLFI has the higher dividend yield at 11.29%, compared with 1.93% for KBWB.

What is the main difference between KBWB and XLFI?

KBWB is categorized as Financials Equities, while XLFI is Derivative Income. They also come from different issuers: Invesco and State Street.

Which has better risk-adjusted returns?

KBWB currently has the higher Sharpe Ratio (1.64 vs 0.81), 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.