KBWD vs. TFNS

Last updated Jun 24, 2026

KBWD (Invesco KBW High Dividend Yield Financial ETF) and TFNS (T. Rowe Price Financials ETF) are both Financials Equities funds. KBWD is passively managed, while TFNS is actively managed. Over the past year, KBWD returned 1.75% vs 11.45% for TFNS. A 0.60 correlation means they provide meaningful diversification when combined. KBWD charges 5.39%/yr vs 0.44%/yr for TFNS.

Performance

KBWD vs. TFNS - Performance Comparison

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

Returns By Period

In the year-to-date period, KBWD achieves a -5.53% return, which is significantly lower than TFNS's 0.45% return.

KBWD

• 1D: 0.83%
• 1M: -1.47%
• YTD: -5.53%
• 6M: -5.36%
• 1Y: 1.75%
• 3Y*: 5.35%
• 5Y*: 0.47%
• 10Y*: 5.03%

TFNS

• 1D: 0.34%
• 1M: 4.00%
• YTD: 0.45%
• 6M: -0.86%
• 1Y: 11.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KBWD vs. TFNS - Yearly Performance Comparison

	2026 (YTD)	2025
KBWD Invesco KBW High Dividend Yield Financial ETF	-5.53%	6.22%
TFNS T. Rowe Price Financials ETF	0.45%	11.06%

Correlation

The correlation between KBWD and TFNS is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.60

The correlation between KBWD and TFNS has been stable across timeframes, ranging from 0.60 to 0.60 - a consistent structural relationship.

KBWD vs. TFNS - Sectors Allocation Comparison

Sectors	KBWD	TFNS
Financial Services	60.8%	96.9%
Real Estate	39.2%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	1.1%
Technology	-	2.0%
Utilities	-	-

Return for Risk

KBWD vs. TFNS — 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

TFNS

TFNS Risk / Return Rank: 21
TFNS Sharpe Ratio Rank: 23
TFNS Sortino Ratio Rank: 21
TFNS Omega Ratio Rank: 21
TFNS Calmar Ratio Rank: 20
TFNS Martin Ratio Rank: 20

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. TFNS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW High Dividend Yield Financial ETF (KBWD) and T. Rowe Price Financials ETF (TFNS). 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	TFNS	Difference
Sharpe ratio: Return per unit of total volatility	0.11	0.77	-0.66
Sortino ratio: Return per unit of downside risk	0.27	1.12	-0.85
Omega ratio: Gain probability vs. loss probability	1.03	1.14	-0.11
Calmar ratio: Return relative to maximum drawdown	0.12	0.82	-0.70
Martin ratio: Return relative to average drawdown	0.28	2.21	-1.93

KBWD vs. TFNS - Sharpe Ratio Comparison

The current KBWD Sharpe Ratio is 0.11, which is lower than the TFNS Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of KBWD and TFNS, 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

KBWD vs. TFNS - Drawdown Comparison

The maximum KBWD drawdown since its inception was -58.63%, which is greater than TFNS's maximum drawdown of -14.00%. Use the drawdown chart below to compare losses from any high point for KBWD and TFNS.

Drawdown Indicators

	KBWD	TFNS	Difference
Max Drawdown Largest peak-to-trough decline	-58.63%	-14.00%	-44.63%
Max Drawdown (1Y) Largest decline over 1 year	-15.05%	-14.00%	-1.05%
Max Drawdown (3Y) Largest decline over 3 years	-19.65%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.74%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-58.63%	—	—
Current Drawdown Current decline from peak	-12.25%	-2.36%	-9.89%
Average Drawdown Average peak-to-trough decline	-7.42%	-3.82%	-3.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.35%	5.19%	+1.16%

Volatility

KBWD vs. TFNS - Volatility Comparison

Invesco KBW High Dividend Yield Financial ETF (KBWD) has a higher volatility of 4.99% compared to T. Rowe Price Financials ETF (TFNS) at 4.03%. This indicates that KBWD's price experiences larger fluctuations and is considered to be riskier than TFNS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KBWD	TFNS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.99%	4.03%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	12.57%	11.45%	+1.12%
Volatility (1Y) Calculated over the trailing 1-year period	15.67%	15.00%	+0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.84%	15.06%	+4.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.26%	15.06%	+8.20%

KBWD vs. TFNS - Expense Ratio Comparison

KBWD has a 5.39% expense ratio, which is higher than TFNS's 0.44% expense ratio.

Dividends

KBWD vs. TFNS - Dividend Comparison

KBWD's dividend yield for the trailing twelve months is around 14.50%, more than TFNS's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TFNS T. Rowe Price Financials ETF	0.49%	0.49%	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 KBWD and TFNS in my portfolio?

KBWD and TFNS have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KBWD or TFNS?

KBWD has higher volatility (4.99%) compared to TFNS (4.03%). In terms of maximum drawdown, KBWD dropped -58.63% vs TFNS's -14.00%.

Which ETF is better, KBWD or TFNS?

On 1-year performance, TFNS leads with 11.45% vs 1.75% for KBWD. On fees, TFNS is cheaper at 0.44% per year. On volatility, TFNS has been the lower-risk option at 4.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KBWD or TFNS?

Over the 1-year period, TFNS has performed better with a 11.45% return vs 1.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KBWD or TFNS?

TFNS is cheaper with a 0.44% expense ratio, compared with 5.39% for KBWD.

Which ETF pays a higher dividend yield, KBWD or TFNS?

KBWD has the higher dividend yield at 14.50%, compared with 0.49% for TFNS.

What is the main difference between KBWD and TFNS?

They also come from different issuers: Invesco and T. Rowe Price. Their fees differ too: 5.39% for KBWD and 0.44% for TFNS.

Which has better risk-adjusted returns?

TFNS currently has the higher Sharpe Ratio (0.77 vs 0.11), 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.