KBWP vs. BAI
KBWP (Invesco KBW Property & Casualty Insurance ETF) and BAI (iShares A.I. Innovation and Tech Active ETF) are both exchange-traded funds - KBWP is a Financials Equities fund tracking the KBW Nasdaq Property & Casualty (TR), while BAI is a Technology Equities fund actively managed by iShares. KBWP is passively managed, while BAI is actively managed. Over the past year, KBWP returned 16.77% vs 60.51% for BAI. At a correlation of -0.19, they often move in opposite directions. KBWP charges 0.35%/yr vs 0.55%/yr for BAI.
Performance
KBWP vs. BAI - Performance Comparison
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Returns By Period
In the year-to-date period, KBWP achieves a 7.17% return, which is significantly lower than BAI's 36.40% return.
KBWP
- 1D
- 1.89%
- 1M
- 11.00%
- 6M
- 9.15%
- YTD
- 7.17%
- 1Y
- 16.77%
- 3Y*
- 21.34%
- 5Y*
- 14.45%
- 10Y*
- 12.86%
BAI
- 1D
- -4.80%
- 1M
- -7.19%
- 6M
- 30.48%
- YTD
- 36.40%
- 1Y
- 60.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KBWP vs. BAI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KBWP Invesco KBW Property & Casualty Insurance ETF | 7.17% | 11.49% | -1.64% |
BAI iShares A.I. Innovation and Tech Active ETF | 36.40% | 25.22% | 8.89% |
Correlation
The correlation between KBWP and BAI is -0.40, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.40 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024 | -0.19 |
Over the past year, the inverse relationship between KBWP and BAI has strengthened: their correlation has moved from -0.19 to -0.40, meaning they now move in opposite directions more often than their long-term average.
KBWP vs. BAI - Sectors Allocation Comparison
Sectors
KBWP
BAI
Financial Services
-
Basic Materials
-
-
Communication Services
-
Consumer Cyclical
-
Consumer Defensive
-
-
Energy
-
-
Healthcare
-
Industrials
-
Real Estate
-
-
Technology
-
Utilities
-
-
Financial Services
KBWP
BAI
-
Basic Materials
KBWP
-
BAI
-
Communication Services
KBWP
-
BAI
Consumer Cyclical
KBWP
-
BAI
Consumer Defensive
KBWP
-
BAI
-
Energy
KBWP
-
BAI
-
Healthcare
KBWP
-
BAI
Industrials
KBWP
-
BAI
Real Estate
KBWP
-
BAI
-
Technology
KBWP
-
BAI
Utilities
KBWP
-
BAI
-
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Return for Risk
KBWP vs. BAI — Risk / Return Rank
KBWP
BAI
KBWP vs. BAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and iShares A.I. Innovation and Tech Active ETF (BAI). 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 | BAI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.26 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 3.74 | -1.98 |
| Martin ratioReturn relative to average drawdown | 4.01 | 9.15 | -5.14 |
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Drawdowns
KBWP vs. BAI - Drawdown Comparison
The maximum KBWP drawdown since its inception was -39.76%, which is greater than BAI's maximum drawdown of -34.09%. Use the drawdown chart below to compare losses from any high point for KBWP and BAI.
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Drawdown Indicators
| KBWP | BAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.76% | -34.09% | -5.67% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | -16.25% | +6.69% |
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 DrawdownCurrent decline from peak | 0.00% | -16.25% | +16.25% |
Average DrawdownAverage peak-to-trough decline | -4.36% | -6.98% | +2.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.19% | 6.63% | -2.44% |
Volatility
KBWP vs. BAI - Volatility Comparison
The current volatility for Invesco KBW Property & Casualty Insurance ETF (KBWP) is 6.38%, while iShares A.I. Innovation and Tech Active ETF (BAI) has a volatility of 20.74%. This indicates that KBWP experiences smaller price fluctuations and is considered to be less risky than BAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBWP | BAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.38% | 20.74% | -14.36% |
Volatility (6M)Calculated over the trailing 6-month period | 13.09% | 34.32% | -21.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.08% | 39.76% | -22.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.60% | 38.40% | -19.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.76% | 38.40% | -17.64% |
KBWP vs. BAI - Expense Ratio Comparison
KBWP has a 0.35% expense ratio, which is lower than BAI's 0.55% expense ratio.
Dividends
KBWP vs. BAI - Dividend Comparison
KBWP's dividend yield for the trailing twelve months is around 1.83%, more than BAI's 1.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAI iShares A.I. Innovation and Tech Active ETF | 1.31% | 1.80% | 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 | 1.83% | 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
KBWP and BAI 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.
BAI has higher volatility (20.74%) compared to KBWP (6.38%). In terms of maximum drawdown, KBWP dropped -39.76% vs BAI's -34.09%.
On 1-year performance, BAI leads with 60.51% vs 16.77% for KBWP. On fees, KBWP is cheaper at 0.35% per year. On volatility, KBWP has been the lower-risk option at 6.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BAI has performed better with a 60.51% return vs 16.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBWP is cheaper with a 0.35% expense ratio, compared with 0.55% for BAI.
KBWP has the higher dividend yield at 1.83%, compared with 1.31% for BAI.
KBWP is categorized as Financials Equities, while BAI is Technology Equities. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for KBWP and 0.55% for BAI.
BAI currently has the higher Sharpe Ratio (1.53 vs 0.99), 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.
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