KBWP vs. QABA

Last updated Jun 3, 2026

KBWP (Invesco KBW Property & Casualty Insurance ETF) and QABA (First Trust NASDAQ ABA Community Bank Index Fund) are both Financials Equities funds - KBWP tracks the KBW Nasdaq Property & Casualty (TR) while QABA tracks the NASDAQ OMX ABA Community Bank Index. Both are passively managed. Over the past 10 years, KBWP returned 11.32%/yr vs 7.05%/yr for QABA. A 0.53 correlation means they provide meaningful diversification when combined. KBWP charges 0.35%/yr vs 0.60%/yr for QABA.

Performance

KBWP vs. QABA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco KBW Property & Casualty Insurance ETF (KBWP) and First Trust NASDAQ ABA Community Bank Index Fund (QABA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KBWP achieves a -8.05% return, which is significantly lower than QABA's 10.82% return. Over the past 10 years, KBWP has outperformed QABA with an annualized return of 11.32%, while QABA has yielded a comparatively lower 7.05% annualized return.

KBWP

• 1D: 0.13%
• 1M: -2.49%
• YTD: -8.05%
• 6M: -4.56%
• 1Y: -6.56%
• 3Y*: 14.80%
• 5Y*: 10.19%
• 10Y*: 11.32%

QABA

• 1D: 1.62%
• 1M: 0.70%
• YTD: 10.82%
• 6M: 12.24%
• 1Y: 23.24%
• 3Y*: 18.41%
• 5Y*: 3.56%
• 10Y*: 7.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

KBWP vs. QABA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KBWP Invesco KBW Property & Casualty Insurance ETF	-8.05%	11.49%	30.45%	7.09%	10.16%	20.61%	-2.05%	28.67%	-2.76%	8.86%
QABA First Trust NASDAQ ABA Community Bank Index Fund	10.82%	4.62%	14.49%	-2.18%	-9.01%	34.20%	-10.70%	22.85%	-16.47%	0.75%

Correlation

The correlation between KBWP and QABA is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Dec 23, 2010	0.53

The correlation between KBWP and QABA shifts across timeframes, from 0.41 (1 year) to 0.59 (10 years), reflecting how their relationship changes across market environments.

KBWP vs. QABA - Sectors Allocation Comparison

Sectors	KBWP	QABA
Financial Services	100.0%	99.7%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	0.3%
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

KBWP vs. QABA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KBWP

KBWP Risk / Return Rank: 4
KBWP Sharpe Ratio Rank: 5
KBWP Sortino Ratio Rank: 5
KBWP Omega Ratio Rank: 5
KBWP Calmar Ratio Rank: 3
KBWP Martin Ratio Rank: 3

QABA

QABA Risk / Return Rank: 30
QABA Sharpe Ratio Rank: 29
QABA Sortino Ratio Rank: 29
QABA Omega Ratio Rank: 30
QABA Calmar Ratio Rank: 34
QABA Martin Ratio Rank: 29

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. QABA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and First Trust NASDAQ ABA Community Bank Index Fund (QABA). 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.

	KBWP	QABA	Difference
Sharpe ratio Return per unit of total volatility	-0.41	1.04	-1.45
Sortino ratio Return per unit of downside risk	-0.45	1.58	-2.03
Omega ratio Gain probability vs. loss probability	0.95	1.20	-0.26
Calmar ratio Return relative to maximum drawdown	-0.60	1.74	-2.34
Martin ratio Return relative to average drawdown	-1.19	4.33	-5.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KBWP vs. QABA - Sharpe Ratio Comparison

The current KBWP Sharpe Ratio is -0.41, which is lower than the QABA Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of KBWP and QABA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KBWP	QABA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.41	1.04	-1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.14	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.25	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.35	+0.35

Drawdowns

KBWP vs. QABA - Drawdown Comparison

The maximum KBWP drawdown since its inception was -39.76%, smaller than the maximum QABA drawdown of -49.30%. Use the drawdown chart below to compare losses from any high point for KBWP and QABA.

Drawdown Indicators

	KBWP	QABA	Difference
Max Drawdown Largest peak-to-trough decline	-39.76%	-49.30%	+9.54%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-12.49%	+3.08%
Max Drawdown (3Y) Largest decline over 3 years	-12.29%	-25.82%	+13.53%
Max Drawdown (5Y) Largest decline over 5 years	-17.00%	-42.93%	+25.93%
Max Drawdown (10Y) Largest decline over 10 years	-39.76%	-49.30%	+9.54%
Current Drawdown Current decline from peak	-8.81%	-1.91%	-6.90%
Average Drawdown Average peak-to-trough decline	-4.36%	-11.43%	+7.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.78%	5.01%	-0.23%

Volatility

KBWP vs. QABA - Volatility Comparison

The current volatility for Invesco KBW Property & Casualty Insurance ETF (KBWP) is 4.10%, while First Trust NASDAQ ABA Community Bank Index Fund (QABA) has a volatility of 5.25%. This indicates that KBWP experiences smaller price fluctuations and is considered to be less risky than QABA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KBWP	QABA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.10%	5.25%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	11.41%	15.03%	-3.62%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	22.40%	-6.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.52%	26.47%	-7.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.70%	28.69%	-7.99%

KBWP vs. QABA - Expense Ratio Comparison

KBWP has a 0.35% expense ratio, which is lower than QABA's 0.60% expense ratio.

Dividends

KBWP vs. QABA - Dividend Comparison

KBWP's dividend yield for the trailing twelve months is around 2.02%, less than QABA's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KBWP Invesco KBW Property & Casualty Insurance ETF	2.02%	1.58%	1.64%	1.68%	1.99%	3.02%	1.93%	1.99%	2.11%	1.90%	2.14%	1.35%
QABA First Trust NASDAQ ABA Community Bank Index Fund	2.34%	2.52%	2.37%	2.71%	2.10%	1.68%	2.55%	1.95%	1.90%	1.42%	1.13%	1.39%

Frequently Asked Questions

Can I hold both KBWP and QABA in my portfolio?

KBWP and QABA have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KBWP or QABA?

QABA has higher volatility (5.25%) compared to KBWP (4.10%). In terms of maximum drawdown, KBWP dropped -39.76% vs QABA's -49.30%.

Which ETF is better, KBWP or QABA?

On 10-year performance, KBWP leads with 11.32% vs 7.05% for QABA. On fees, KBWP is cheaper at 0.35% per year. On volatility, KBWP has been the lower-risk option at 4.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KBWP or QABA?

Over the 10-year period, KBWP has performed better with a 11.32% return vs 7.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KBWP or QABA?

KBWP is cheaper with a 0.35% expense ratio, compared with 0.60% for QABA.

Which ETF pays a higher dividend yield, KBWP or QABA?

QABA has the higher dividend yield at 2.34%, compared with 2.02% for KBWP.

What is the main difference between KBWP and QABA?

KBWP tracks KBW Nasdaq Property & Casualty (TR), while QABA tracks NASDAQ OMX ABA Community Bank Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.35% for KBWP and 0.60% for QABA.

Which has better risk-adjusted returns?

QABA currently has the higher Sharpe Ratio (1.04 vs -0.41), 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.