KBWP vs. PH
KBWP (Invesco KBW Property & Casualty Insurance ETF) is Financials Equities fund tracking the KBW Nasdaq Property & Casualty (TR), while PH (Parker-Hannifin Corporation) is a stock. Over the past 10 years, KBWP returned 12.09%/yr vs 25.12%/yr for PH. At a 0.42 correlation, their price movements are largely independent.
Performance
KBWP vs. PH - Performance Comparison
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Returns By Period
In the year-to-date period, KBWP achieves a -3.45% return, which is significantly lower than PH's 3.21% return. Over the past 10 years, KBWP has underperformed PH with an annualized return of 12.09%, while PH has yielded a comparatively higher 25.12% annualized 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%
PH
- 1D
- 0.12%
- 1M
- 4.72%
- YTD
- 3.21%
- 6M
- 2.52%
- 1Y
- 39.33%
- 3Y*
- 36.33%
- 5Y*
- 26.12%
- 10Y*
- 25.12%
KBWP vs. PH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KBWP Invesco KBW Property & Casualty Insurance ETF | -3.45% | 11.49% | 30.45% | 7.09% | 10.16% | 20.61% | -2.05% | 28.67% | -2.76% | 8.86% |
PH Parker-Hannifin Corporation | 3.21% | 39.54% | 39.58% | 60.81% | -6.91% | 18.30% | 34.78% | 40.75% | -24.00% | 44.91% |
Correlation
The correlation between KBWP and PH is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2010 | 0.42 |
Over the past year, the correlation between KBWP and PH has dropped to 0.17 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
KBWP vs. PH — Risk / Return Rank
KBWP
PH
KBWP vs. PH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and Parker-Hannifin Corporation (PH). 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 | PH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.26 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 1.90 | -1.79 |
| Martin ratioReturn relative to average drawdown | 0.24 | 5.64 | -5.40 |
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Drawdowns
KBWP vs. PH - Drawdown Comparison
The maximum KBWP drawdown since its inception was -39.76%, smaller than the maximum PH drawdown of -66.92%. Use the drawdown chart below to compare losses from any high point for KBWP and PH.
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Drawdown Indicators
| KBWP | PH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.76% | -66.92% | +27.16% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | -19.34% | +9.78% |
Max Drawdown (3Y)Largest decline over 3 years | -12.29% | -26.79% | +14.50% |
Max Drawdown (5Y)Largest decline over 5 years | -17.00% | -28.64% | +11.64% |
Max Drawdown (10Y)Largest decline over 10 years | -39.76% | -54.68% | +14.92% |
Current DrawdownCurrent decline from peak | -4.25% | -11.49% | +7.24% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -15.33% | +10.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.31% | 6.52% | -2.21% |
Volatility
KBWP vs. PH - Volatility Comparison
The current volatility for Invesco KBW Property & Casualty Insurance ETF (KBWP) is 5.73%, while Parker-Hannifin Corporation (PH) has a volatility of 7.58%. This indicates that KBWP experiences smaller price fluctuations and is considered to be less risky than PH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBWP | PH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.73% | 7.58% | -1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 12.10% | 18.96% | -6.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.50% | 25.10% | -8.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.60% | 28.68% | -10.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.73% | 31.70% | -10.97% |
Dividends
KBWP vs. PH - Dividend Comparison
KBWP's dividend yield for the trailing twelve months is around 1.92%, more than PH's 0.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PH Parker-Hannifin Corporation | 0.82% | 0.80% | 1.00% | 1.25% | 1.73% | 1.25% | 1.29% | 1.65% | 1.97% | 1.32% | 1.80% | 2.60% |
Frequently Asked Questions
KBWP and PH have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PH has higher volatility (7.58%) compared to KBWP (5.73%). In terms of maximum drawdown, KBWP dropped -39.76% vs PH's -66.92%.
PH currently has the higher Sharpe Ratio (1.47 vs 0.06), 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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