KBWD vs. SPY
Compare and contrast key facts about Invesco KBW High Dividend Yield Financial ETF (KBWD) and SPDR S&P 500 ETF (SPY).
KBWD and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both KBWD and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: KBWD or SPY.
Key characteristics
| KBWD | SPY | |
|---|---|---|
| YTD Return | 2.29% | 9.93% |
| 1Y Return | 26.21% | 28.39% |
| 3Y Return (Ann) | 0.94% | 9.37% |
| 5Y Return (Ann) | 3.68% | 14.68% |
| 10Y Return (Ann) | 4.70% | 12.76% |
| Sharpe Ratio | 1.32 | 2.46 |
| Daily Std Dev | 19.11% | 11.52% |
| Max Drawdown | -58.63% | -55.19% |
| Current Drawdown | -5.13% | -0.43% |
Correlation
The correlation between KBWD and SPY is 0.70, 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.
Performance
KBWD vs. SPY - Performance Comparison
In the year-to-date period, KBWD achieves a 2.29% return, which is significantly lower than SPY's 9.93% return. Over the past 10 years, KBWD has underperformed SPY with an annualized return of 4.70%, while SPY has yielded a comparatively higher 12.76% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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KBWD vs. SPY - Expense Ratio Comparison
KBWD has a 1.24% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
KBWD vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW High Dividend Yield Financial ETF (KBWD) and SPDR S&P 500 ETF (SPY). 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.
Dividends
KBWD vs. SPY - Dividend Comparison
KBWD's dividend yield for the trailing twelve months is around 11.60%, more than SPY's 1.29% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWD Invesco KBW High Dividend Yield Financial ETF | 11.60% | 11.45% | 11.32% | 7.26% | 9.68% | 8.63% | 9.47% | 8.77% | 8.68% | 8.89% | 8.31% | 7.68% |
SPY SPDR S&P 500 ETF | 1.29% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
KBWD vs. SPY - Drawdown Comparison
The maximum KBWD drawdown since its inception was -58.63%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for KBWD and SPY. For additional features, visit the drawdowns tool.
Volatility
KBWD vs. SPY - Volatility Comparison
Invesco KBW High Dividend Yield Financial ETF (KBWD) has a higher volatility of 4.25% compared to SPDR S&P 500 ETF (SPY) at 3.62%. This indicates that KBWD's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.