KBWD vs. CCAP
KBWD (Invesco KBW High Dividend Yield Financial ETF) is Financials Equities fund tracking the KBW Nasdaq Financial Sector Dividend Yield Index, while CCAP (Crescent Capital BDC, Inc.) is a stock. Over the past 5 years, KBWD returned 0.90%/yr vs 1.26%/yr for CCAP. Their 0.45 correlation means their historical movements had little consistent relationship.
Performance
KBWD vs. CCAP - Performance Comparison
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Returns By Period
In the year-to-date period, KBWD achieves a -5.22% return, which is significantly higher than CCAP's -16.75% return.
KBWD
- 1D
- -0.75%
- 1M
- -2.41%
- 6M
- -7.83%
- YTD
- -5.22%
- 1Y
- 0.00%
- 3Y*
- 1.98%
- 5Y*
- 0.90%
- 10Y*
- 4.42%
- ALL TIME*
- 5.57%
CCAP
- 1D
- 0.74%
- 1M
- -1.71%
- 6M
- -18.71%
- YTD
- -16.75%
- 1Y
- -11.88%
- 3Y*
- -2.24%
- 5Y*
- 1.26%
- 10Y*
- —
- ALL TIME*
- 5.56%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.58M | $2.63M | $2.84M | |
| $5.79M | $4.78M | $4.61M |
KBWD vs. CCAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KBWD Invesco KBW High Dividend Yield Financial ETF | -5.22% | 5.59% | 4.30% | 20.21% | -19.14% | 31.89% | -16.50% |
CCAP Crescent Capital BDC, Inc. | -16.75% | -17.51% | 23.51% | 52.61% | -17.99% | 32.51% | 0.98% |
Correlation
The correlation between KBWD and CCAP is 0.65, 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. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2020 | 0.45 |
Over the past year, KBWD and CCAP have become more correlated (0.65) than their long-term average of 0.45, meaning their price movements have been converging.
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Return for Risk
KBWD vs. CCAP — Risk / Return Rank
KBWD
CCAP
KBWD vs. CCAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW High Dividend Yield Financial ETF (KBWD) and Crescent Capital BDC, Inc. (CCAP). 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.
| KBWD | CCAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.94 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | -0.50 | +0.46 |
| Martin ratioReturn relative to average drawdown | -0.08 | -0.96 | +0.88 |
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Drawdowns
KBWD vs. CCAP - Drawdown Comparison
The maximum KBWD drawdown since its inception was -58.63%, smaller than the maximum CCAP drawdown of -63.68%. Use the drawdown chart below to compare losses from any high point for KBWD and CCAP.
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Drawdown Indicators
| KBWD | CCAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.63% | -63.68% | +5.05% |
Max Drawdown (1Y)Largest decline over 1 year | -15.05% | -24.39% | +9.34% |
Max Drawdown (3Y)Largest decline over 3 years | -19.65% | -35.83% | +16.18% |
Max Drawdown (5Y)Largest decline over 5 years | -30.74% | -35.83% | +5.09% |
Max Drawdown (10Y)Largest decline over 10 years | -58.63% | — | — |
Current DrawdownCurrent decline from peak | -11.95% | -34.00% | +22.05% |
Average DrawdownAverage peak-to-trough decline | -7.44% | -13.29% | +5.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.19% | 12.70% | -5.51% |
Volatility
KBWD vs. CCAP - Volatility Comparison
The current volatility for Invesco KBW High Dividend Yield Financial ETF (KBWD) is 4.54%, while Crescent Capital BDC, Inc. (CCAP) has a volatility of 5.75%. This indicates that KBWD experiences smaller price fluctuations and is considered to be less risky than CCAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBWD | CCAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 5.75% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 12.49% | 20.48% | -7.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.87% | 25.62% | -9.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.78% | 22.36% | -2.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.26% | 33.67% | -10.41% |
Dividends
KBWD vs. CCAP - Dividend Comparison
KBWD's dividend yield for the trailing twelve months is around 14.50%, less than CCAP's 15.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCAP Crescent Capital BDC, Inc. | 15.37% | 13.02% | 10.61% | 10.41% | 14.83% | 9.63% | 11.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KBWD Invesco KBW High Dividend Yield Financial ETF | 14.50% | 12.83% | 12.45% | 11.45% | 11.32% | 7.26% | 9.68% | 8.63% | 9.47% | 8.77% | 8.68% | 8.89% |
Frequently Asked Questions
KBWD and CCAP have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CCAP has higher volatility (5.75%) compared to KBWD (4.54%). In terms of maximum drawdown, KBWD dropped -58.63% vs CCAP's -63.68%.
KBWD currently has the higher Sharpe Ratio (-0.04 vs -0.48), 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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