KBWP vs. KBWD

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco KBW Property & Casualty Insurance ETF (KBWP) and Invesco KBW High Dividend Yield Financial ETF (KBWD).

KBWP and KBWD 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. KBWD is a passively managed fund by Invesco that tracks the performance of the KBW Nasdaq Financial Sector Dividend Yield Index. It was launched on Dec 2, 2010. Both KBWP and KBWD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

KBWP vs. KBWD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco KBW Property & Casualty Insurance ETF (KBWP) and Invesco KBW High Dividend Yield Financial ETF (KBWD). The values are adjusted to include any dividend payments, if applicable.

KBWP vs. KBWD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KBWP Invesco KBW Property & Casualty Insurance ETF	-5.76%	11.49%	30.45%	7.09%	10.16%	20.61%	-2.05%	28.67%	-2.76%	8.86%
KBWD Invesco KBW High Dividend Yield Financial ETF	-5.14%	5.59%	4.30%	20.21%	-19.14%	31.89%	-15.58%	20.72%	-8.70%	12.06%

Returns By Period

In the year-to-date period, KBWP achieves a -5.76% return, which is significantly lower than KBWD's -5.14% return. Over the past 10 years, KBWP has outperformed KBWD with an annualized return of 11.51%, while KBWD has yielded a comparatively lower 5.16% annualized return.

KBWP

• 1D: 0.13%
• 1M: -5.12%
• YTD: -5.76%
• 6M: -2.54%
• 1Y: -2.65%
• 3Y*: 14.71%
• 5Y*: 11.89%
• 10Y*: 11.51%

KBWD

• 1D: 2.45%
• 1M: -2.89%
• YTD: -5.14%
• 6M: -1.01%
• 1Y: -1.20%
• 3Y*: 7.16%
• 5Y*: 1.84%
• 10Y*: 5.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

KBWP vs. KBWD - Expense Ratio Comparison

KBWP has a 0.35% expense ratio, which is lower than KBWD's 1.24% expense ratio.

KBWD

Invesco KBW High Dividend Yield Financial ETF

KBWP

Invesco KBW Property & Casualty Insurance ETF

Return for Risk

KBWP vs. KBWD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KBWP

KBWP Risk / Return Rank: 9
KBWP Sharpe Ratio Rank: 9
KBWP Sortino Ratio Rank: 9
KBWP Omega Ratio Rank: 9
KBWP Calmar Ratio Rank: 10
KBWP Martin Ratio Rank: 9

KBWD

KBWD Risk / Return Rank: 11
KBWD Sharpe Ratio Rank: 11
KBWD Sortino Ratio Rank: 11
KBWD Omega Ratio Rank: 11
KBWD Calmar Ratio Rank: 11
KBWD Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

KBWP vs. KBWD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and Invesco KBW High Dividend Yield Financial ETF (KBWD). 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.

	KBWP	KBWD	Difference
Sharpe ratio Return per unit of total volatility	-0.14	-0.06	-0.08
Sortino ratio Return per unit of downside risk	-0.06	0.05	-0.11
Omega ratio Gain probability vs. loss probability	0.99	1.01	-0.01
Calmar ratio Return relative to maximum drawdown	-0.14	-0.07	-0.08
Martin ratio Return relative to average drawdown	-0.37	-0.18	-0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KBWP vs. KBWD - Sharpe Ratio Comparison

The current KBWP Sharpe Ratio is -0.14, which is lower than the KBWD Sharpe Ratio of -0.06. The chart below compares the historical Sharpe Ratios of KBWP and KBWD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	KBWP	KBWD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.14	-0.06	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.09	+0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.22	+0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.27	+0.44

Correlation

The correlation between KBWP and KBWD is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

KBWP vs. KBWD - Dividend Comparison

KBWP's dividend yield for the trailing twelve months is around 1.97%, less than KBWD's 14.06% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KBWP Invesco KBW Property & Casualty Insurance ETF	1.97%	1.58%	1.64%	1.68%	1.99%	3.02%	1.93%	1.99%	2.11%	1.90%	2.14%	1.35%
KBWD Invesco KBW High Dividend Yield Financial ETF	14.06%	12.83%	12.45%	11.45%	11.32%	7.26%	9.68%	8.63%	9.47%	8.77%	8.68%	8.89%

Drawdowns

KBWP vs. KBWD - Drawdown Comparison

The maximum KBWP drawdown since its inception was -39.76%, smaller than the maximum KBWD drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for KBWP and KBWD.

Drawdown Indicators

	KBWP	KBWD	Difference
Max Drawdown Largest peak-to-trough decline	-39.76%	-58.63%	+18.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.59%	-15.05%	+3.46%
Max Drawdown (5Y) Largest decline over 5 years	-17.00%	-30.74%	+13.74%
Max Drawdown (10Y) Largest decline over 10 years	-39.76%	-58.63%	+18.87%
Current Drawdown Current decline from peak	-6.54%	-11.88%	+5.34%
Average Drawdown Average peak-to-trough decline	-4.35%	-7.39%	+3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	5.54%	-1.06%

Volatility

KBWP vs. KBWD - Volatility Comparison

The current volatility for Invesco KBW Property & Casualty Insurance ETF (KBWP) is 4.31%, while Invesco KBW High Dividend Yield Financial ETF (KBWD) has a volatility of 6.66%. This indicates that KBWP experiences smaller price fluctuations and is considered to be less risky than KBWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KBWP	KBWD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	6.66%	-2.35%
Volatility (6M) Calculated over the trailing 6-month period	11.79%	11.53%	+0.26%
Volatility (1Y) Calculated over the trailing 1-year period	19.27%	19.67%	-0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.49%	19.81%	-1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.65%	23.18%	-2.53%