KBWP vs. GDE
KBWP (Invesco KBW Property & Casualty Insurance ETF) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both exchange-traded funds - KBWP is a Financials Equities fund tracking the KBW Nasdaq Property & Casualty (TR), while GDE is a Gold fund actively managed by WisdomTree. KBWP is passively managed, while GDE is actively managed. Over the past 3 years, KBWP returned 16.13%/yr vs 42.64%/yr for GDE. At a 0.22 correlation, their price movements are largely independent. KBWP charges 0.35%/yr vs 0.20%/yr for GDE.
Performance
KBWP vs. GDE - Performance Comparison
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Returns By Period
In the year-to-date period, KBWP achieves a -3.45% return, which is significantly lower than GDE's 3.16% return.
KBWP
- 1D
- 0.54%
- 1M
- 3.51%
- YTD
- -3.45%
- 6M
- -2.31%
- 1Y
- 1.98%
- 3Y*
- 16.13%
- 5Y*
- 11.67%
- 10Y*
- 12.09%
GDE
- 1D
- 0.67%
- 1M
- -9.22%
- YTD
- 3.16%
- 6M
- 4.00%
- 1Y
- 40.98%
- 3Y*
- 42.64%
- 5Y*
- —
- 10Y*
- —
KBWP vs. GDE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
KBWP Invesco KBW Property & Casualty Insurance ETF | -3.45% | 11.49% | 30.45% | 7.09% | 5.60% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 3.16% | 73.76% | 44.79% | 33.85% | -8.58% |
Correlation
The correlation between KBWP and GDE is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.22 |
The correlation between KBWP and GDE shifts across timeframes, from -0.04 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KBWP vs. GDE — Risk / Return Rank
KBWP
GDE
KBWP vs. GDE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). 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 | GDE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.26 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 1.83 | -1.72 |
| Martin ratioReturn relative to average drawdown | 0.24 | 5.36 | -5.12 |
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Drawdowns
KBWP vs. GDE - Drawdown Comparison
The maximum KBWP drawdown since its inception was -39.76%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for KBWP and GDE.
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Drawdown Indicators
| KBWP | GDE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.76% | -32.01% | -7.75% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | -22.66% | +13.10% |
Max Drawdown (3Y)Largest decline over 3 years | -12.29% | -22.66% | +10.37% |
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 | -4.25% | -16.53% | +12.28% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -7.93% | +3.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.31% | 7.73% | -3.42% |
Volatility
KBWP vs. GDE - Volatility Comparison
The current volatility for Invesco KBW Property & Casualty Insurance ETF (KBWP) is 5.73%, while WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) has a volatility of 10.77%. This indicates that KBWP experiences smaller price fluctuations and is considered to be less risky than GDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBWP | GDE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.73% | 10.77% | -5.04% |
Volatility (6M)Calculated over the trailing 6-month period | 12.10% | 25.97% | -13.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.50% | 29.88% | -13.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.60% | 27.09% | -8.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.73% | 27.09% | -6.36% |
KBWP vs. GDE - Expense Ratio Comparison
KBWP has a 0.35% expense ratio, which is higher than GDE's 0.20% expense ratio.
Dividends
KBWP vs. GDE - Dividend Comparison
KBWP's dividend yield for the trailing twelve months is around 1.92%, less than GDE's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 4.19% | 4.32% | 7.14% | 2.22% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KBWP Invesco KBW Property & Casualty Insurance ETF | 1.92% | 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 GDE have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDE has higher volatility (10.77%) compared to KBWP (5.73%). In terms of maximum drawdown, KBWP dropped -39.76% vs GDE's -32.01%.
On 3-year performance, GDE leads with 42.64% vs 16.13% for KBWP. On fees, GDE is cheaper at 0.20% per year. On volatility, KBWP has been the lower-risk option at 5.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GDE has performed better with a 42.64% return vs 16.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDE is cheaper with a 0.20% expense ratio, compared with 0.35% for KBWP.
GDE has the higher dividend yield at 4.19%, compared with 1.92% for KBWP.
KBWP is categorized as Financials Equities, while GDE is Gold. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.35% for KBWP and 0.20% for GDE.
GDE currently has the higher Sharpe Ratio (1.39 vs 0.06), 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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