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KBWP vs. PSCF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KBWP vs. PSCF

Last updated Jun 23, 2026

KBWP (Invesco KBW Property & Casualty Insurance ETF) and PSCF (Invesco S&P SmallCap Financials ETF) are both Financials Equities funds from Invesco - KBWP tracks the KBW Nasdaq Property & Casualty (TR) while PSCF tracks the S&P SmallCap 600 Financials Index. Both are passively managed. Over the past 10 years, KBWP returned 12.12%/yr vs 7.84%/yr for PSCF. A 0.58 correlation means they provide meaningful diversification when combined. KBWP charges 0.35%/yr vs 0.29%/yr for PSCF.

Performance

KBWP vs. PSCF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco KBW Property & Casualty Insurance ETF (KBWP) and Invesco S&P SmallCap Financials ETF (PSCF). 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 -4.29% return, which is significantly lower than PSCF's 11.50% return. Over the past 10 years, KBWP has outperformed PSCF with an annualized return of 12.12%, while PSCF has yielded a comparatively lower 7.84% annualized return.

KBWP

1D
0.30%
1M
0.17%
YTD
-4.29%
6M
-4.73%
1Y
1.52%
3Y*
16.24%
5Y*
12.16%
10Y*
12.12%

PSCF

1D
0.34%
1M
3.42%
YTD
11.50%
6M
9.11%
1Y
23.90%
3Y*
19.36%
5Y*
4.49%
10Y*
7.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

KBWP vs. PSCF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
KBWP
Invesco KBW Property & Casualty Insurance ETF		-4.29%11.49%30.45%7.09%10.16%20.61%-2.05%28.67%-2.76%8.86%
PSCF
Invesco S&P SmallCap Financials ETF		11.50%6.19%15.50%6.02%-19.34%27.82%-9.07%23.13%-8.43%6.71%

Correlation

The correlation between KBWP and PSCF is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.50

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

0.50

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

0.58

Correlation (10Y)
Calculated over the trailing 10-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Dec 22, 2010

0.58

The correlation between KBWP and PSCF shifts across timeframes, from 0.50 (3 years) to 0.63 (10 years), reflecting how their relationship changes across market environments.

KBWP vs. PSCF - Sectors Allocation Comparison

Sectors
KBWP
PSCF

Financial Services

100.0%
67.3%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

0.4%

Real Estate

-

28.8%

Technology

-

3.5%

Utilities

-

-

Financial Services

KBWP
100.0%
PSCF
67.3%

Basic Materials

KBWP

-

PSCF

-

Communication Services

KBWP

-

PSCF

-

Consumer Cyclical

KBWP

-

PSCF

-

Consumer Defensive

KBWP

-

PSCF

-

Energy

KBWP

-

PSCF

-

Healthcare

KBWP

-

PSCF

-

Industrials

KBWP

-

PSCF
0.4%

Real Estate

KBWP

-

PSCF
28.8%

Technology

KBWP

-

PSCF
3.5%

Utilities

KBWP

-

PSCF

-

Compare stocks, funds, or ETFs

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Invesco KBW Property & Casualty Insurance ETF

Invesco S&P SmallCap Financials ETF

Often compared with KBWP:
KBWP vs. IAKKBWP vs. KIEKBWP vs. KBEKBWP vs. ACGLKBWP vs. TRVKBWP vs. VOOKBWP vs. QQQ
Often compared with PSCF:
PSCF vs. PFFDPSCF vs. FNCLPSCF vs. MMSCPSCF vs. PSCIPSCF vs. GABFPSCF vs. VOOPSCF vs. BALI

Return for Risk

KBWP vs. PSCF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
KBWP
KBWP Risk / Return Rank: 99
Overall Rank
KBWP Sharpe Ratio Rank: 99
Sharpe Ratio Rank
KBWP Sortino Ratio Rank: 99
Sortino Ratio Rank
KBWP Omega Ratio Rank: 99
Omega Ratio Rank
KBWP Calmar Ratio Rank: 1010
Calmar Ratio Rank
KBWP Martin Ratio Rank: 1010
Martin Ratio Rank
PSCF
PSCF Risk / Return Rank: 4242
Overall Rank
PSCF Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
PSCF Sortino Ratio Rank: 4141
Sortino Ratio Rank
PSCF Omega Ratio Rank: 3838
Omega Ratio Rank
PSCF Calmar Ratio Rank: 5050
Calmar Ratio Rank
PSCF Martin Ratio Rank: 4141
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. PSCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and Invesco S&P SmallCap Financials ETF (PSCF). 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.

KBWPPSCFDifference
Sharpe ratioReturn per unit of total volatility
0.09
1.37

-1.28

Sortino ratioReturn per unit of downside risk
0.24
2.01

-1.77

Omega ratioGain probability vs. loss probability

1.03

1.25

-0.22

Calmar ratioReturn relative to maximum drawdown

0.16

2.42

-2.26

Martin ratioReturn relative to average drawdown

0.35

6.45

-6.10

KBWP vs. PSCF - Sharpe Ratio Comparison

The current KBWP Sharpe Ratio is 0.09, which is lower than the PSCF Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of KBWP and PSCF, 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. PSCF - Drawdown Comparison

The maximum KBWP drawdown since its inception was -39.76%, smaller than the maximum PSCF drawdown of -45.46%. Use the drawdown chart below to compare losses from any high point for KBWP and PSCF.

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Drawdown Indicators

KBWPPSCFDifference

Max Drawdown

Largest peak-to-trough decline

-39.76%

-45.46%

+5.70%

Max Drawdown (1Y)

Largest decline over 1 year

-9.56%

-9.91%

+0.35%

Max Drawdown (3Y)

Largest decline over 3 years

-12.29%

-24.34%

+12.05%

Max Drawdown (5Y)

Largest decline over 5 years

-17.00%

-36.77%

+19.77%

Max Drawdown (10Y)

Largest decline over 10 years

-39.76%

-45.46%

+5.70%

Current Drawdown

Current decline from peak

-5.08%

-0.41%

-4.67%

Average Drawdown

Average peak-to-trough decline

-4.37%

-8.57%

+4.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.36%

3.71%

+0.65%

Volatility

KBWP vs. PSCF - Volatility Comparison

Invesco KBW Property & Casualty Insurance ETF (KBWP) has a higher volatility of 5.29% compared to Invesco S&P SmallCap Financials ETF (PSCF) at 4.56%. This indicates that KBWP's price experiences larger fluctuations and is considered to be riskier than PSCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

KBWPPSCFDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.29%

4.56%

+0.73%

Volatility (6M)

Calculated over the trailing 6-month period

11.82%

11.93%

-0.11%

Volatility (1Y)

Calculated over the trailing 1-year period

16.45%

17.53%

-1.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.51%

22.42%

-3.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.74%

24.81%

-4.07%

KBWP vs. PSCF - Expense Ratio Comparison

KBWP has a 0.35% expense ratio, which is higher than PSCF's 0.29% expense ratio.

Dividends

KBWP vs. PSCF - Dividend Comparison

KBWP's dividend yield for the trailing twelve months is around 2.36%, less than PSCF's 2.78% yield.

PositionTTM20252024202320222021202020192018201720162015
KBWP
Invesco KBW Property & Casualty Insurance ETF		2.36%1.58%1.64%1.68%1.99%3.02%1.93%1.99%2.11%1.90%2.14%1.35%
PSCF
Invesco S&P SmallCap Financials ETF		2.78%2.09%2.48%3.32%2.93%1.83%3.57%4.27%4.21%2.26%3.01%2.37%

Frequently Asked Questions

KBWP and PSCF have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KBWP has higher volatility (5.29%) compared to PSCF (4.56%). In terms of maximum drawdown, KBWP dropped -39.76% vs PSCF's -45.46%.

On 10-year performance, KBWP leads with 12.12% vs 7.84% for PSCF. On fees, PSCF is cheaper at 0.29% per year. On volatility, PSCF has been the lower-risk option at 4.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, KBWP has performed better with a 12.12% return vs 7.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PSCF is cheaper with a 0.29% expense ratio, compared with 0.35% for KBWP.

PSCF has the higher dividend yield at 2.78%, compared with 2.36% for KBWP.

KBWP tracks KBW Nasdaq Property & Casualty (TR), while PSCF tracks S&P SmallCap 600 Financials Index. Their fees differ too: 0.35% for KBWP and 0.29% for PSCF.

PSCF currently has the higher Sharpe Ratio (1.37 vs 0.09), 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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