KBWD vs. XLFI

Last updated Aug 2, 2026

KBWD (Invesco KBW High Dividend Yield Financial ETF) and XLFI (State Street Financial Select Sector SPDR Premium Income ETF) are both exchange-traded funds - KBWD is a Financials Equities fund tracking the KBW Nasdaq Financial Sector Dividend Yield Index, while XLFI is a Derivative Income fund actively managed by State Street. KBWD is passively managed, while XLFI is actively managed. Over the past year, KBWD returned -0.00% vs 11.31% for XLFI. Their 0.56 correlation means they have sometimes moved together and sometimes differently. KBWD charges 5.39%/yr vs 0.35%/yr for XLFI.

Performance

KBWD vs. XLFI - Performance Comparison

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

Returns By Period

In the year-to-date period, KBWD achieves a -5.22% return, which is significantly lower than XLFI's 3.17% 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%

XLFI

• 1D: -0.41%
• 1M: 2.09%
• 6M: 4.95%
• YTD: 3.17%
• 1Y: 11.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.72%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KBWD Invesco KBW High Dividend Yield Financial ETF	$5.79M	$4.78M	$4.61M
XLFI State Street Financial Select Sector SPDR Premium Income ETF	$205.39K	$226.21K	$175.11K

KBWD vs. XLFI - Yearly Performance Comparison

	2026 (YTD)	2025
KBWD Invesco KBW High Dividend Yield Financial ETF	-5.22%	2.57%
XLFI State Street Financial Select Sector SPDR Premium Income ETF	3.17%	5.40%

Correlation

The correlation between KBWD and XLFI is 0.55, 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.	0.55
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.56

The correlation between KBWD and XLFI has been stable across timeframes, ranging from 0.55 to 0.56 - a consistent structural relationship.

KBWD vs. XLFI - Sectors Allocation Comparison

Sectors	KBWD	XLFI
Financial Services	57.3%	100.4%
Real Estate	42.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

KBWD vs. XLFI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KBWD

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

XLFI

XLFI Risk / Return Rank: 29
XLFI Sharpe Ratio Rank: 33
XLFI Sortino Ratio Rank: 29
XLFI Omega Ratio Rank: 31
XLFI Calmar Ratio Rank: 26
XLFI Martin Ratio Rank: 27

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KBWD vs. XLFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW High Dividend Yield Financial ETF (KBWD) and State Street Financial Select Sector SPDR Premium Income ETF (XLFI). 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	XLFI	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	0.81	-0.84
Sortino ratio: Return per unit of downside risk	0.06	1.12	-1.06
Omega ratio: Gain probability vs. loss probability	1.01	1.15	-0.14
Calmar ratio: Return relative to maximum drawdown	-0.04	0.80	-0.84
Martin ratio: Return relative to average drawdown	-0.08	2.26	-2.34

KBWD vs. XLFI - Sharpe Ratio Comparison

The current KBWD Sharpe Ratio is -0.04, which is lower than the XLFI Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of KBWD and XLFI, 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. XLFI - Drawdown Comparison

The maximum KBWD drawdown since its inception was -58.63%, which is greater than XLFI's maximum drawdown of -11.89%. Use the drawdown chart below to compare losses from any high point for KBWD and XLFI.

Drawdown Indicators

	KBWD	XLFI	Difference
Max Drawdown Largest peak-to-trough decline	-58.63%	-11.89%	-46.74%
Max Drawdown (1Y) Largest decline over 1 year	-15.05%	-11.89%	-3.16%
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	-11.95%	-1.11%	-10.84%
Average Drawdown Average peak-to-trough decline	-7.44%	-3.02%	-4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.19%	4.22%	+2.97%

Volatility

KBWD vs. XLFI - Volatility Comparison

Invesco KBW High Dividend Yield Financial ETF (KBWD) has a higher volatility of 4.54% compared to State Street Financial Select Sector SPDR Premium Income ETF (XLFI) at 2.78%. This indicates that KBWD's price experiences larger fluctuations and is considered to be riskier than XLFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KBWD	XLFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	2.78%	+1.76%
Volatility (6M) Calculated over the trailing 6-month period	12.49%	9.08%	+3.41%
Volatility (1Y) Calculated over the trailing 1-year period	15.87%	11.88%	+3.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.78%	11.85%	+7.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.26%	11.85%	+11.41%

KBWD vs. XLFI - Expense Ratio Comparison

KBWD has a 5.39% expense ratio, which is higher than XLFI's 0.35% expense ratio.

Dividends

KBWD vs. XLFI - Dividend Comparison

KBWD's dividend yield for the trailing twelve months is around 14.50%, more than XLFI's 11.29% 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%
XLFI State Street Financial Select Sector SPDR Premium Income ETF	11.29%	5.57%	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 XLFI in my portfolio?

KBWD and XLFI have a correlation of 0.55, 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 XLFI?

KBWD has higher volatility (4.54%) compared to XLFI (2.78%). In terms of maximum drawdown, KBWD dropped -58.63% vs XLFI's -11.89%.

Which ETF is better, KBWD or XLFI?

On 1-year performance, XLFI leads with 11.31% vs -0.00% for KBWD. On fees, XLFI is cheaper at 0.35% per year. On volatility, XLFI has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KBWD or XLFI?

Over the 1-year period, XLFI has performed better with a 11.31% return vs -0.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KBWD or XLFI?

XLFI is cheaper with a 0.35% expense ratio, compared with 5.39% for KBWD.

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

KBWD has the higher dividend yield at 14.50%, compared with 11.29% for XLFI.

What is the main difference between KBWD and XLFI?

KBWD is categorized as Financials Equities, while XLFI is Derivative Income. They also come from different issuers: Invesco and State Street. Their fees differ too: 5.39% for KBWD and 0.35% for XLFI.

Which has better risk-adjusted returns?

XLFI currently has the higher Sharpe Ratio (0.81 vs -0.04), 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.