KBWP vs. KIE
Compare and contrast key facts about Invesco KBW Property & Casualty Insurance ETF (KBWP) and SPDR S&P Insurance ETF (KIE).
KBWP and KIE 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. KIE is a passively managed fund by State Street that tracks the performance of the S&P Insurance Select Industry Index. It was launched on Nov 8, 2005. Both KBWP and KIE 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 KIE.
Performance
KBWP vs. KIE - Performance Comparison
Returns By Period
In the year-to-date period, KBWP achieves a 35.39% return, which is significantly higher than KIE's 33.03% return. Over the past 10 years, KBWP has outperformed KIE with an annualized return of 13.77%, while KIE has yielded a comparatively lower 12.53% annualized return.
KBWP
35.39%
0.92%
13.26%
38.52%
13.78%
13.77%
KIE
33.03%
1.93%
15.63%
37.18%
13.24%
12.53%
Key characteristics
| KBWP | KIE | |
|---|---|---|
| Sharpe Ratio | 2.48 | 2.62 |
| Sortino Ratio | 3.22 | 3.45 |
| Omega Ratio | 1.45 | 1.46 |
| Calmar Ratio | 5.85 | 4.52 |
| Martin Ratio | 15.86 | 14.64 |
| Ulcer Index | 2.44% | 2.58% |
| Daily Std Dev | 15.66% | 14.47% |
| Max Drawdown | -39.77% | -75.30% |
| Current Drawdown | -0.17% | 0.00% |
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KBWP vs. KIE - Expense Ratio Comparison
Both KBWP and KIE have an expense ratio of 0.35%.
Correlation
The correlation between KBWP and KIE 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.
Risk-Adjusted Performance
KBWP vs. KIE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and SPDR S&P Insurance ETF (KIE). 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. KIE - Dividend Comparison
KBWP's dividend yield for the trailing twelve months is around 1.29%, more than KIE's 1.27% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWP Invesco KBW Property & Casualty Insurance ETF | 1.29% | 1.68% | 1.99% | 3.02% | 1.93% | 1.99% | 2.11% | 1.90% | 2.14% | 1.35% | 2.73% | 1.72% |
KIE SPDR S&P Insurance ETF | 1.27% | 1.45% | 1.90% | 1.95% | 1.85% | 1.76% | 1.83% | 1.56% | 1.55% | 1.65% | 1.81% | 1.38% |
Drawdowns
KBWP vs. KIE - Drawdown Comparison
The maximum KBWP drawdown since its inception was -39.77%, smaller than the maximum KIE drawdown of -75.30%. Use the drawdown chart below to compare losses from any high point for KBWP and KIE. For additional features, visit the drawdowns tool.
Volatility
KBWP vs. KIE - Volatility Comparison
Invesco KBW Property & Casualty Insurance ETF (KBWP) and SPDR S&P Insurance ETF (KIE) have volatilities of 6.23% and 6.01%, 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.