KBWP vs. AMTR

Last updated Aug 2, 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 Index, while AMTR is a MLPs fund tracking the Alerian Midstream Energy Index. Both are passively managed. Their 0.39 correlation means their historical movements had little consistent relationship. 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: -0.46%
• 1M: 0.93%
• 6M: 10.54%
• YTD: 7.40%
• 1Y: 18.27%
• 3Y*: 19.15%
• 5Y*: 14.28%
• 10Y*: 12.93%
• ALL TIME*: 13.72%

AMTR

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

*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)
KBWP Invesco KBW Property & Casualty Insurance ETF	$2.91M	$3.13M	$2.04M

KBWP vs. AMTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KBWP Invesco KBW Property & Casualty Insurance ETF	7.40%	11.49%	30.45%	7.09%	10.16%	20.61%	18.07%
AMTR ETRACS Alerian Midstream Energy Total Return Index ETN	0.00%	0.00%	44.68%	12.75%	20.41%	36.99%	14.40%

Correlation

The correlation between KBWP and AMTR is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.21
Correlation (5Y) Shows whether the relationship held over a longer period.	0.36
Correlation (All Time) Calculated using the full available price history since Oct 21, 2020	0.39

The correlation between KBWP and AMTR shifts across timeframes, from 0.21 (3 years) to 0.39 (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 historical risk-adjusted metric ranks over the past 12 months.

KBWP

KBWP Risk / Return Rank: 41
KBWP Sharpe Ratio Rank: 40
KBWP Sortino Ratio Rank: 39
KBWP Omega Ratio Rank: 38
KBWP Calmar Ratio Rank: 51
KBWP Martin Ratio Rank: 39

AMTR

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

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.

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.

	KBWP	AMTR	Difference
Sharpe ratio: Return per unit of total volatility	0.98	—	—
Sortino ratio: Return per unit of downside risk	1.46	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.83	—	—
Martin ratio: Return relative to average drawdown	4.15	—	—

Drawdowns

Drawdown Indicators

	KBWP	AMTR	Difference
Max Drawdown Largest peak-to-trough decline	-39.76%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.56%	—	—
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	-3.41%	—	—
Average Drawdown Average peak-to-trough decline	-4.35%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.20%	—	—

Volatility

Volatility by Period

	KBWP	AMTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.30%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.84%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.72%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.85%	—	—

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 1.82%, 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	1.82%	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 0.39, 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 1.82%, 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 Index, 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.