KBWP vs. IAK
Compare and contrast key facts about Invesco KBW Property & Casualty Insurance ETF (KBWP) and iShares U.S. Insurance ETF (IAK).
KBWP and IAK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KBWP is a passively managed fund by Invesco that tracks the performance of the KBW Nasdaq Property & Casualty (TR). It was launched on Dec 2, 2010. IAK is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Insurance Index. It was launched on May 5, 2006. Both KBWP and IAK are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: KBWP or IAK.
Key characteristics
| KBWP | IAK | |
|---|---|---|
| YTD Return | 19.54% | 18.13% |
| 1Y Return | 30.42% | 37.14% |
| 3Y Return (Ann) | 13.19% | 15.36% |
| 5Y Return (Ann) | 12.28% | 13.76% |
| 10Y Return (Ann) | 13.47% | 12.04% |
| Sharpe Ratio | 2.17 | 2.82 |
| Daily Std Dev | 14.60% | 13.56% |
| Max Drawdown | -39.77% | -77.38% |
| Current Drawdown | -0.05% | 0.00% |
Correlation
The correlation between KBWP and IAK is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
KBWP vs. IAK - Performance Comparison
In the year-to-date period, KBWP achieves a 19.54% return, which is significantly higher than IAK's 18.13% return. Over the past 10 years, KBWP has outperformed IAK with an annualized return of 13.47%, while IAK has yielded a comparatively lower 12.04% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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KBWP vs. IAK - Expense Ratio Comparison
KBWP has a 0.35% expense ratio, which is lower than IAK's 0.43% expense ratio.
Risk-Adjusted Performance
KBWP vs. IAK - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and iShares U.S. Insurance ETF (IAK). 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.
Dividends
KBWP vs. IAK - Dividend Comparison
KBWP's dividend yield for the trailing twelve months is around 1.46%, more than IAK's 1.34% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWP Invesco KBW Property & Casualty Insurance ETF | 1.46% | 1.68% | 1.99% | 3.02% | 1.93% | 1.99% | 2.11% | 1.90% | 2.14% | 1.35% | 2.73% | 1.72% |
IAK iShares U.S. Insurance ETF | 1.34% | 1.44% | 1.69% | 2.26% | 2.07% | 1.84% | 2.33% | 1.62% | 1.68% | 1.62% | 1.57% | 1.13% |
Drawdowns
KBWP vs. IAK - Drawdown Comparison
The maximum KBWP drawdown since its inception was -39.77%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for KBWP and IAK. For additional features, visit the drawdowns tool.
Volatility
KBWP vs. IAK - Volatility Comparison
Invesco KBW Property & Casualty Insurance ETF (KBWP) and iShares U.S. Insurance ETF (IAK) have volatilities of 3.98% and 3.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.