KBWP vs. AMTR

Last updated Jun 3, 2026

KBWP (Invesco KBW Property & Casualty Insurance ETF) and AMTR (ETRACS Alerian Midstream Energy Total Return Index ETN) are both exchange-traded funds - KBWP is a Financials Equities fund tracking the KBW Nasdaq Property & Casualty (TR), while AMTR is a MLPs fund tracking the Alerian Midstream Energy Index. Both are passively managed. At a 0.40 correlation, their price movements are largely independent. KBWP charges 0.35%/yr vs 0.75%/yr for AMTR.

Performance

KBWP vs. AMTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco KBW Property & Casualty Insurance ETF (KBWP) and ETRACS Alerian Midstream Energy Total Return Index ETN (AMTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KBWP

• 1D: 0.13%
• 1M: -2.49%
• YTD: -8.05%
• 6M: -4.56%
• 1Y: -6.56%
• 3Y*: 14.80%
• 5Y*: 10.19%
• 10Y*: 11.32%

AMTR

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KBWP vs. AMTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KBWP Invesco KBW Property & Casualty Insurance ETF	-8.05%	11.49%	30.45%	7.09%	10.16%	20.61%	14.56%
AMTR ETRACS Alerian Midstream Energy Total Return Index ETN	0.00%	0.00%	44.68%	12.75%	20.41%	36.99%	15.24%

Correlation

The correlation between KBWP and AMTR is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Oct 22, 2020	0.40

The correlation between KBWP and AMTR shifts across timeframes, from 0.24 (3 years) to 0.40 (all time), reflecting how their relationship changes across market environments.

KBWP vs. AMTR - Sectors Allocation Comparison

Sectors	KBWP	AMTR
Financial Services	100.0%	0.0%
Basic Materials	-	0.0%
Communication Services	-	0.0%
Consumer Cyclical	-	0.0%
Consumer Defensive	-	0.0%
Energy	-	0.0%
Healthcare	-	0.0%
Industrials	-	0.0%
Real Estate	-	0.0%
Technology	-	0.0%
Utilities	-	0.0%

Return for Risk

KBWP vs. AMTR — Risk / Return Rank

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

KBWP

KBWP Risk / Return Rank: 4
KBWP Sharpe Ratio Rank: 5
KBWP Sortino Ratio Rank: 5
KBWP Omega Ratio Rank: 5
KBWP Calmar Ratio Rank: 3
KBWP Martin Ratio Rank: 3

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.

KBWP vs. AMTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and ETRACS Alerian Midstream Energy Total Return Index ETN (AMTR). 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.

	KBWP	AMTR	Difference
Sharpe ratio Return per unit of total volatility	-0.41	—	—
Sortino ratio Return per unit of downside risk	-0.45	—	—
Omega ratio Gain probability vs. loss probability	0.95	—	—
Calmar ratio Return relative to maximum drawdown	-0.60	—	—
Martin ratio Return relative to average drawdown	-1.19	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	KBWP	AMTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.41	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	—	—

Drawdowns

Drawdown Indicators

	KBWP	AMTR	Difference
Max Drawdown Largest peak-to-trough decline	-39.76%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.76%	—	—
Current Drawdown Current decline from peak	-8.81%	—	—
Average Drawdown Average peak-to-trough decline	-4.36%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.78%	—	—

Volatility

Volatility by Period

	KBWP	AMTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.52%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.70%	—	—

KBWP vs. AMTR - Expense Ratio Comparison

KBWP has a 0.35% expense ratio, which is lower than AMTR's 0.75% expense ratio.

Dividends

KBWP vs. AMTR - Dividend Comparison

KBWP's dividend yield for the trailing twelve months is around 2.02%, while AMTR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMTR ETRACS Alerian Midstream Energy Total Return Index ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KBWP Invesco KBW Property & Casualty Insurance ETF	2.02%	1.58%	1.64%	1.68%	1.99%	3.02%	1.93%	1.99%	2.11%	1.90%	2.14%	1.35%

Frequently Asked Questions

Can I hold both KBWP and AMTR in my portfolio?

KBWP and AMTR have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KBWP or AMTR?

On fees, KBWP is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KBWP or AMTR?

KBWP is cheaper with a 0.35% expense ratio, compared with 0.75% for AMTR.

Which ETF pays a higher dividend yield, KBWP or AMTR?

KBWP has the higher dividend yield at 2.02%, compared with 0.00% for AMTR.

What is the main difference between KBWP and AMTR?

KBWP is categorized as Financials Equities, while AMTR is MLPs. KBWP tracks KBW Nasdaq Property & Casualty (TR), while AMTR tracks Alerian Midstream Energy Index. They also come from different issuers: Invesco and UBS. Their fees differ too: 0.35% for KBWP and 0.75% for AMTR.