KBWP vs. IBIT
KBWP (Invesco KBW Property & Casualty Insurance ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - KBWP is a Financials Equities fund tracking the KBW Nasdaq Property & Casualty (TR), while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, KBWP returned 1.98% vs -39.67% for IBIT. At a 0.07 correlation, their price movements are largely independent. KBWP charges 0.35%/yr vs 0.25%/yr for IBIT.
Performance
KBWP vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, KBWP achieves a -3.45% return, which is significantly higher than IBIT's -27.41% 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%
IBIT
- 1D
- -0.03%
- 1M
- -21.94%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KBWP vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KBWP Invesco KBW Property & Casualty Insurance ETF | -3.45% | 11.49% | 28.05% |
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
Correlation
The correlation between KBWP and IBIT 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 (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.07 |
The correlation between KBWP and IBIT shifts across timeframes, from -0.04 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KBWP vs. IBIT — Risk / Return Rank
KBWP
IBIT
KBWP vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.85 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | -0.78 | +0.89 |
| Martin ratioReturn relative to average drawdown | 0.24 | -1.37 | +1.61 |
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Drawdowns
KBWP vs. IBIT - Drawdown Comparison
The maximum KBWP drawdown since its inception was -39.76%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for KBWP and IBIT.
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Drawdown Indicators
| KBWP | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.76% | -52.11% | +12.35% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | -52.11% | +42.55% |
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 | -4.25% | -49.45% | +45.20% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -16.53% | +12.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.31% | 29.64% | -25.33% |
Volatility
KBWP vs. IBIT - Volatility Comparison
The current volatility for Invesco KBW Property & Casualty Insurance ETF (KBWP) is 5.73%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 12.07%. This indicates that KBWP experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBWP | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.73% | 12.07% | -6.34% |
Volatility (6M)Calculated over the trailing 6-month period | 12.10% | 34.45% | -22.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.50% | 44.10% | -27.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.60% | 50.26% | -31.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.73% | 50.26% | -29.53% |
KBWP vs. IBIT - Expense Ratio Comparison
KBWP has a 0.35% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
KBWP vs. IBIT - Dividend Comparison
KBWP's dividend yield for the trailing twelve months is around 1.92%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 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 | 1.92% | 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 IBIT 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.
IBIT has higher volatility (12.07%) compared to KBWP (5.73%). In terms of maximum drawdown, KBWP dropped -39.76% vs IBIT's -52.11%.
On 1-year performance, KBWP leads with 1.98% vs -39.67% for IBIT. On fees, IBIT is cheaper at 0.25% 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 1-year period, KBWP has performed better with a 1.98% return vs -39.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.35% for KBWP.
KBWP has the higher dividend yield at 1.92%, compared with 0.00% for IBIT.
KBWP is categorized as Financials Equities, while IBIT is Cryptocurrency. KBWP tracks KBW Nasdaq Property & Casualty (TR), while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for KBWP and 0.25% for IBIT.
KBWP currently has the higher Sharpe Ratio (0.06 vs -0.92), 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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