KBWP vs. PBEU
KBWP (Invesco KBW Property & Casualty Insurance ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both Financials Equities funds - KBWP tracks the KBW Nasdaq Property & Casualty Index while PBEU tracks the BITA European Banks Index. Both are passively managed. Their -0.13 correlation means they have often moved in opposite directions in the past. KBWP charges 0.35%/yr vs 0.13%/yr for PBEU.
Performance
KBWP vs. PBEU - Performance Comparison
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Returns By Period
In the year-to-date period, KBWP achieves a 7.40% return, which is significantly lower than PBEU's 21.81% return.
KBWP
- 1D
- -0.46%
- 1M
- 0.93%
- 6M
- 10.54%
- YTD
- 7.40%
- 1Y
- 18.27%
- 3Y*
- 19.15%
- 5Y*
- 14.28%
- 10Y*
- 12.93%
- ALL TIME*
- 13.72%
PBEU
- 1D
- -0.11%
- 1M
- 5.63%
- 6M
- 13.95%
- YTD
- 21.81%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.91M | $3.13M | $2.04M | |
| $1.85M | $6.79M | $5.48M |
KBWP vs. PBEU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KBWP Invesco KBW Property & Casualty Insurance ETF | 7.40% | 3.83% |
PBEU Portfolio Building Block European Banks Index ETF | 21.81% | 11.42% |
Correlation
The correlation between KBWP and PBEU is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025 | -0.13 |
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Return for Risk
KBWP vs. PBEU — Risk / Return Rank
KBWP
PBEU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
KBWP vs. PBEU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and Portfolio Building Block European Banks Index ETF (PBEU). 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 | PBEU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.18 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | — | — |
| Martin ratioReturn relative to average drawdown | 4.15 | — | — |
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Drawdowns
KBWP vs. PBEU - Drawdown Comparison
The maximum KBWP drawdown since its inception was -39.76%, which is greater than PBEU's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for KBWP and PBEU.
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Drawdown Indicators
| KBWP | PBEU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.76% | -17.26% | -22.50% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | — | — |
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 | -3.41% | -0.11% | -3.30% |
Average DrawdownAverage peak-to-trough decline | -4.35% | -3.54% | -0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.20% | — | — |
Volatility
KBWP vs. PBEU - Volatility Comparison
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Volatility by Period
| KBWP | PBEU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.95% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 14.30% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 17.84% | 27.34% | -9.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.72% | 27.34% | -8.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.85% | 27.34% | -6.49% |
KBWP vs. PBEU - Expense Ratio Comparison
KBWP has a 0.35% expense ratio, which is higher than PBEU's 0.13% expense ratio.
Dividends
KBWP vs. PBEU - Dividend Comparison
KBWP's dividend yield for the trailing twelve months is around 1.82%, more than PBEU's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWP Invesco KBW Property & Casualty Insurance ETF | 1.82% | 1.58% | 1.64% | 1.68% | 1.99% | 3.02% | 1.93% | 1.99% | 2.11% | 1.90% | 2.14% | 1.35% |
PBEU Portfolio Building Block European Banks Index ETF | 0.01% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KBWP and PBEU have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBEU is cheaper with a 0.13% expense ratio, compared with 0.35% for KBWP.
KBWP has the higher dividend yield at 1.82%, compared with 0.01% for PBEU.
KBWP tracks KBW Nasdaq Property & Casualty Index, while PBEU tracks BITA European Banks Index. They also come from different issuers: Invesco and Portfolio Building Block. Their fees differ too: 0.35% for KBWP and 0.13% for PBEU.
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