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KBWP vs. KWT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KBWP vs. KWT

Last updated Jul 17, 2026
Documentation

KBWP (Invesco KBW Property & Casualty Insurance ETF) and KWT (iShares MSCI Kuwait ETF) are both Financials Equities funds - KBWP tracks the KBW Nasdaq Property & Casualty (TR) while KWT tracks the MSCI All Kuwait Select Size Liquidity Capped Index. Both are passively managed. Over the past 5 years, KBWP returned 13.58%/yr vs 8.57%/yr for KWT. At a 0.19 correlation, their price movements are largely independent. KBWP charges 0.35%/yr vs 0.74%/yr for KWT.

Performance

KBWP vs. KWT - Performance Comparison

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

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Returns By Period

In the year-to-date period, KBWP achieves a 4.12% return, which is significantly higher than KWT's -3.12% return.

KBWP

1D
2.17%
1M
7.68%
6M
8.35%
YTD
4.12%
1Y
13.34%
3Y*
19.39%
5Y*
13.58%
10Y*
12.58%

KWT

1D
0.40%
1M
-3.47%
6M
-0.93%
YTD
-3.12%
1Y
-0.91%
3Y*
7.70%
5Y*
8.57%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

KBWP vs. KWT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
KBWP
Invesco KBW Property & Casualty Insurance ETF		4.12%11.49%30.45%7.09%10.16%20.61%13.32%
KWT
iShares MSCI Kuwait ETF		-3.12%25.38%11.29%-4.71%5.16%30.73%7.37%

Correlation

The correlation between KBWP and KWT is -0.00, 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

-0.00

Correlation (3Y)
Calculated over the trailing 3-year period

0.14

Correlation (5Y)
Calculated over the trailing 5-year period

0.17

Correlation (All Time)
Calculated using the full available price history since Sep 3, 2020

0.19

The correlation between KBWP and KWT shifts across timeframes, from -0.00 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.

KBWP vs. KWT - Sectors Allocation Comparison

Sectors
KBWP
KWT

Financial Services

100.0%
66.0%

Basic Materials

-

2.0%

Communication Services

-

6.3%

Consumer Cyclical

-

1.7%

Consumer Defensive

-

2.6%

Energy

-

-

Healthcare

-

-

Industrials

-

9.5%

Real Estate

-

11.3%

Technology

-

-

Utilities

-

0.6%

Financial Services

KBWP
100.0%
KWT
66.0%

Basic Materials

KBWP

-

KWT
2.0%

Communication Services

KBWP

-

KWT
6.3%

Consumer Cyclical

KBWP

-

KWT
1.7%

Consumer Defensive

KBWP

-

KWT
2.6%

Energy

KBWP

-

KWT

-

Healthcare

KBWP

-

KWT

-

Industrials

KBWP

-

KWT
9.5%

Real Estate

KBWP

-

KWT
11.3%

Technology

KBWP

-

KWT

-

Utilities

KBWP

-

KWT
0.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco KBW Property & Casualty Insurance ETF

iShares MSCI Kuwait ETF

Often compared with KBWP:
KBWP vs. IAKKBWP vs. KIEKBWP vs. KBEKBWP vs. ACGLKBWP vs. PSCFKBWP vs. VOOKBWP vs. TRV
Often compared with KWT:
KWT vs. FLSAKWT vs. RAYSKWT vs. TANKWT vs. VOOKWT vs. SPYKWT vs. ESPOKWT vs. SCHD

Return for Risk

KBWP vs. KWT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
KBWP
KBWP Risk / Return Rank: 2828
Overall Rank
KBWP Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
KBWP Sortino Ratio Rank: 2525
Sortino Ratio Rank
KBWP Omega Ratio Rank: 2525
Omega Ratio Rank
KBWP Calmar Ratio Rank: 3333
Calmar Ratio Rank
KBWP Martin Ratio Rank: 2929
Martin Ratio Rank
KWT
KWT Risk / Return Rank: 88
Overall Rank
KWT Sharpe Ratio Rank: 99
Sharpe Ratio Rank
KWT Sortino Ratio Rank: 88
Sortino Ratio Rank
KWT Omega Ratio Rank: 88
Omega Ratio Rank
KWT Calmar Ratio Rank: 99
Calmar Ratio Rank
KWT Martin Ratio Rank: 99
Martin Ratio Rank
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. KWT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and iShares MSCI Kuwait ETF (KWT). 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.

KBWPKWTDifference
Sharpe ratioReturn per unit of total volatility
0.77
-0.07

+0.84

Sortino ratioReturn per unit of downside risk
1.18
-0.00

+1.18

Omega ratioGain probability vs. loss probability

1.15

1.00

+0.15

Calmar ratioReturn relative to maximum drawdown

1.40

-0.08

+1.48

Martin ratioReturn relative to average drawdown

3.18

-0.17

+3.35

KBWP vs. KWT - Sharpe Ratio Comparison

The current KBWP Sharpe Ratio is 0.77, which is higher than the KWT Sharpe Ratio of -0.07. The chart below compares the historical Sharpe Ratios of KBWP and KWT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

KBWP vs. KWT - Drawdown Comparison

The maximum KBWP drawdown since its inception was -39.76%, which is greater than KWT's maximum drawdown of -24.37%. Use the drawdown chart below to compare losses from any high point for KBWP and KWT.

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Drawdown Indicators

KBWPKWTDifference

Max Drawdown

Largest peak-to-trough decline

-39.76%

-24.37%

-15.39%

Max Drawdown (1Y)

Largest decline over 1 year

-9.56%

-11.54%

+1.98%

Max Drawdown (3Y)

Largest decline over 3 years

-12.29%

-15.12%

+2.83%

Max Drawdown (5Y)

Largest decline over 5 years

-17.00%

-24.37%

+7.37%

Max Drawdown (10Y)

Largest decline over 10 years

-39.76%

—

—

Current Drawdown

Current decline from peak

-2.85%

-7.80%

+4.95%

Average Drawdown

Average peak-to-trough decline

-4.35%

-7.29%

+2.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.21%

5.31%

-1.10%

Volatility

KBWP vs. KWT - Volatility Comparison

Invesco KBW Property & Casualty Insurance ETF (KBWP) has a higher volatility of 7.84% compared to iShares MSCI Kuwait ETF (KWT) at 3.24%. This indicates that KBWP's price experiences larger fluctuations and is considered to be riskier than KWT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

KBWPKWTDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.84%

3.24%

+4.60%

Volatility (6M)

Calculated over the trailing 6-month period

13.50%

10.20%

+3.30%

Volatility (1Y)

Calculated over the trailing 1-year period

17.41%

13.38%

+4.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.70%

13.64%

+5.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.80%

13.91%

+6.89%

KBWP vs. KWT - Expense Ratio Comparison

KBWP has a 0.35% expense ratio, which is lower than KWT's 0.74% expense ratio.

Dividends

KBWP vs. KWT - Dividend Comparison

KBWP's dividend yield for the trailing twelve months is around 1.88%, less than KWT's 5.68% yield.

PositionTTM20252024202320222021202020192018201720162015
KBWP
Invesco KBW Property & Casualty Insurance ETF		1.88%1.58%1.64%1.68%1.99%3.02%1.93%1.99%2.11%1.90%2.14%1.35%
KWT
iShares MSCI Kuwait ETF		5.68%5.40%6.09%2.25%5.87%7.65%0.27%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

KBWP and KWT have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KBWP has higher volatility (7.84%) compared to KWT (3.24%). In terms of maximum drawdown, KBWP dropped -39.76% vs KWT's -24.37%.

On 5-year performance, KBWP leads with 13.58% vs 8.57% for KWT. On fees, KBWP is cheaper at 0.35% per year. On volatility, KWT has been the lower-risk option at 3.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, KBWP has performed better with a 13.58% return vs 8.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

KBWP is cheaper with a 0.35% expense ratio, compared with 0.74% for KWT.

KWT has the higher dividend yield at 5.68%, compared with 1.88% for KBWP.

KBWP tracks KBW Nasdaq Property & Casualty (TR), while KWT tracks MSCI All Kuwait Select Size Liquidity Capped Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for KBWP and 0.74% for KWT.

KBWP currently has the higher Sharpe Ratio (0.77 vs -0.07), 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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