KBWD vs. QQQ

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco KBW High Dividend Yield Financial ETF (KBWD) and Invesco QQQ ETF (QQQ).

KBWD and QQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999. Both KBWD and QQQ 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

KBWD vs. QQQ - Performance Comparison

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

KBWD vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KBWD Invesco KBW High Dividend Yield Financial ETF	-5.14%	5.59%	4.30%	20.21%	-19.14%	31.89%	-15.58%	20.72%	-8.70%	12.06%
QQQ Invesco QQQ ETF	-5.93%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Returns By Period

In the year-to-date period, KBWD achieves a -5.14% return, which is significantly higher than QQQ's -5.93% return. Over the past 10 years, KBWD has underperformed QQQ with an annualized return of 5.16%, while QQQ has yielded a comparatively higher 18.85% annualized return.

KBWD

• 1D: 2.45%
• 1M: -2.89%
• YTD: -5.14%
• 6M: -1.01%
• 1Y: -1.20%
• 3Y*: 7.16%
• 5Y*: 1.84%
• 10Y*: 5.16%

QQQ

• 1D: 3.39%
• 1M: -4.84%
• YTD: -5.93%
• 6M: -3.62%
• 1Y: 23.68%
• 3Y*: 22.32%
• 5Y*: 12.88%
• 10Y*: 18.85%

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

KBWD vs. QQQ - Expense Ratio Comparison

KBWD has a 1.24% expense ratio, which is higher than QQQ's 0.18% expense ratio.

KBWD

Invesco KBW High Dividend Yield Financial ETF

QQQ

Invesco QQQ ETF

Return for Risk

KBWD vs. QQQ — Risk / Return Rank

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

KBWD

KBWD Risk / Return Rank: 11
KBWD Sharpe Ratio Rank: 11
KBWD Sortino Ratio Rank: 11
KBWD Omega Ratio Rank: 11
KBWD Calmar Ratio Rank: 11
KBWD Martin Ratio Rank: 11

QQQ

QQQ Risk / Return Rank: 69
QQQ Sharpe Ratio Rank: 63
QQQ Sortino Ratio Rank: 68
QQQ Omega Ratio Rank: 67
QQQ Calmar Ratio Rank: 76
QQQ Martin Ratio Rank: 73

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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW High Dividend Yield Financial ETF (KBWD) and Invesco QQQ ETF (QQQ). 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	QQQ	Difference
Sharpe ratio Return per unit of total volatility	-0.06	1.05	-1.11
Sortino ratio Return per unit of downside risk	0.05	1.63	-1.58
Omega ratio Gain probability vs. loss probability	1.01	1.23	-0.23
Calmar ratio Return relative to maximum drawdown	-0.07	1.88	-1.94
Martin ratio Return relative to average drawdown	-0.18	6.95	-7.13
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. QQQ - Sharpe Ratio Comparison

The current KBWD Sharpe Ratio is -0.06, which is lower than the QQQ Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of KBWD and QQQ, 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	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.06	1.05	-1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.58	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	0.85	-0.63
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.37	-0.10

Correlation

The correlation between KBWD and QQQ is 0.53, 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. QQQ - Dividend Comparison

KBWD's dividend yield for the trailing twelve months is around 14.06%, more than QQQ's 0.49% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KBWD Invesco KBW High Dividend Yield Financial ETF	14.06%	12.83%	12.45%	11.45%	11.32%	7.26%	9.68%	8.63%	9.47%	8.77%	8.68%	8.89%
QQQ Invesco QQQ ETF	0.49%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Drawdowns

KBWD vs. QQQ - Drawdown Comparison

The maximum KBWD drawdown since its inception was -58.63%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for KBWD and QQQ.

Drawdown Indicators

	KBWD	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-58.63%	-82.97%	+24.34%
Max Drawdown (1Y) Largest decline over 1 year	-15.05%	-12.62%	-2.43%
Max Drawdown (5Y) Largest decline over 5 years	-30.74%	-35.12%	+4.38%
Max Drawdown (10Y) Largest decline over 10 years	-58.63%	-35.12%	-23.51%
Current Drawdown Current decline from peak	-11.88%	-8.98%	-2.90%
Average Drawdown Average peak-to-trough decline	-7.39%	-32.99%	+25.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.54%	3.41%	+2.13%

Volatility

KBWD vs. QQQ - Volatility Comparison

Invesco KBW High Dividend Yield Financial ETF (KBWD) and Invesco QQQ ETF (QQQ) have volatilities of 6.66% and 6.51%, 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	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.66%	6.51%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	11.53%	12.77%	-1.24%
Volatility (1Y) Calculated over the trailing 1-year period	19.67%	22.67%	-3.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.81%	22.39%	-2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.18%	22.25%	+0.93%