KBWD vs. BMEZ

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco KBW High Dividend Yield Financial ETF (KBWD) and BlackRock Health Sciences Trust II (BMEZ).

KBWD is a passively managed fund by Invesco that tracks the performance of the KBW Nasdaq Financial Sector Dividend Yield Index. It was launched on Dec 2, 2010.

Performance

KBWD vs. BMEZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco KBW High Dividend Yield Financial ETF (KBWD) and BlackRock Health Sciences Trust II (BMEZ). The values are adjusted to include any dividend payments, if applicable.

KBWD vs. BMEZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KBWD Invesco KBW High Dividend Yield Financial ETF	-5.42%	5.59%	4.30%	20.21%	-19.14%	31.89%	-17.02%
BMEZ BlackRock Health Sciences Trust II	-1.47%	18.69%	9.54%	5.07%	-32.65%	-6.00%	48.77%

Returns By Period

In the year-to-date period, KBWD achieves a -5.42% return, which is significantly lower than BMEZ's -1.47% return.

KBWD

• 1D: -0.29%
• 1M: -4.13%
• YTD: -5.42%
• 6M: -1.52%
• 1Y: -1.83%
• 3Y*: 7.06%
• 5Y*: 1.78%
• 10Y*: 5.13%

BMEZ

• 1D: 0.97%
• 1M: -2.45%
• YTD: -1.47%
• 6M: 3.68%
• 1Y: 11.42%
• 3Y*: 6.55%
• 5Y*: -2.37%
• 10Y*: —

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

Return for Risk

KBWD vs. BMEZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KBWD

KBWD Risk / Return Rank: 10
KBWD Sharpe Ratio Rank: 10
KBWD Sortino Ratio Rank: 9
KBWD Omega Ratio Rank: 9
KBWD Calmar Ratio Rank: 10
KBWD Martin Ratio Rank: 10

BMEZ

BMEZ Risk / Return Rank: 59
BMEZ Sharpe Ratio Rank: 63
BMEZ Sortino Ratio Rank: 54
BMEZ Omega Ratio Rank: 53
BMEZ Calmar Ratio Rank: 60
BMEZ Martin Ratio Rank: 63

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.

KBWD vs. BMEZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW High Dividend Yield Financial ETF (KBWD) and BlackRock Health Sciences Trust II (BMEZ). 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.

	KBWD	BMEZ	Difference
Sharpe ratio Return per unit of total volatility	-0.09	0.63	-0.72
Sortino ratio Return per unit of downside risk	0.01	1.00	-1.00
Omega ratio Gain probability vs. loss probability	1.00	1.13	-0.13
Calmar ratio Return relative to maximum drawdown	-0.10	0.82	-0.92
Martin ratio Return relative to average drawdown	-0.27	2.42	-2.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KBWD vs. BMEZ - Sharpe Ratio Comparison

The current KBWD Sharpe Ratio is -0.09, which is lower than the BMEZ Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of KBWD and BMEZ, 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

	KBWD	BMEZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.09	0.63	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	-0.12	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.16	+0.11

Correlation

The correlation between KBWD and BMEZ is 0.42, 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

KBWD vs. BMEZ - Dividend Comparison

KBWD's dividend yield for the trailing twelve months is around 14.11%, more than BMEZ's 11.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KBWD Invesco KBW High Dividend Yield Financial ETF	14.11%	12.83%	12.45%	11.45%	11.32%	7.26%	9.68%	8.63%	9.47%	8.77%	8.68%	8.89%
BMEZ BlackRock Health Sciences Trust II	11.51%	12.43%	11.74%	10.80%	11.28%	6.51%	3.14%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

KBWD vs. BMEZ - Drawdown Comparison

The maximum KBWD drawdown since its inception was -58.63%, which is greater than BMEZ's maximum drawdown of -46.19%. Use the drawdown chart below to compare losses from any high point for KBWD and BMEZ.

Drawdown Indicators

	KBWD	BMEZ	Difference
Max Drawdown Largest peak-to-trough decline	-58.63%	-46.19%	-12.44%
Max Drawdown (1Y) Largest decline over 1 year	-15.05%	-11.24%	-3.81%
Max Drawdown (5Y) Largest decline over 5 years	-30.74%	-46.17%	+15.43%
Max Drawdown (10Y) Largest decline over 10 years	-58.63%	—	—
Current Drawdown Current decline from peak	-12.14%	-20.96%	+8.82%
Average Drawdown Average peak-to-trough decline	-7.40%	-24.24%	+16.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.59%	3.79%	+1.80%

Volatility

KBWD vs. BMEZ - Volatility Comparison

Invesco KBW High Dividend Yield Financial ETF (KBWD) and BlackRock Health Sciences Trust II (BMEZ) have volatilities of 6.64% and 6.65%, 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

	KBWD	BMEZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	6.65%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	11.52%	11.48%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	19.67%	18.46%	+1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.80%	20.06%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.18%	24.35%	-1.17%