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KBWP vs. RSP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KBWP vs. RSP

Last updated Jun 24, 2026

KBWP (Invesco KBW Property & Casualty Insurance ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - KBWP is a Financials Equities fund tracking the KBW Nasdaq Property & Casualty (TR), while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. Both are passively managed. Over the past 10 years, KBWP returned 12.39%/yr vs 12.23%/yr for RSP. A 0.55 correlation means they provide meaningful diversification when combined. KBWP charges 0.35%/yr vs 0.20%/yr for RSP.

Performance

KBWP vs. RSP - 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 500 Equal Weight ETF (RSP). 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 -1.94% return, which is significantly lower than RSP's 9.94% return. Both investments have delivered pretty close results over the past 10 years, with KBWP having a 12.39% annualized return and RSP not far behind at 12.23%.

KBWP

1D
2.46%
1M
2.63%
YTD
-1.94%
6M
-2.38%
1Y
2.45%
3Y*
17.19%
5Y*
12.41%
10Y*
12.39%

RSP

1D
-0.34%
1M
1.51%
YTD
9.94%
6M
9.07%
1Y
18.97%
3Y*
14.87%
5Y*
8.63%
10Y*
12.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

KBWP vs. RSP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
KBWP
Invesco KBW Property & Casualty Insurance ETF		-1.94%11.49%30.45%7.09%10.16%20.61%-2.05%28.67%-2.76%8.86%
RSP
Invesco S&P 500 Equal Weight ETF		9.94%11.21%12.79%13.70%-11.62%29.41%12.66%28.91%-7.84%18.52%

Correlation

The correlation between KBWP and RSP is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.30

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

0.43

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

0.55

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

0.60

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

0.55

Over the past year, the correlation between KBWP and RSP has dropped to 0.30 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

KBWP vs. RSP - Sectors Allocation Comparison

Sectors
KBWP
RSP

Financial Services

100.0%
13.9%

Basic Materials

-

3.9%

Communication Services

-

3.9%

Consumer Cyclical

-

10.0%

Consumer Defensive

-

6.4%

Energy

-

4.0%

Healthcare

-

11.1%

Industrials

-

14.2%

Real Estate

-

6.1%

Technology

-

20.9%

Utilities

-

5.7%

Financial Services

KBWP
100.0%
RSP
13.9%

Basic Materials

KBWP

-

RSP
3.9%

Communication Services

KBWP

-

RSP
3.9%

Consumer Cyclical

KBWP

-

RSP
10.0%

Consumer Defensive

KBWP

-

RSP
6.4%

Energy

KBWP

-

RSP
4.0%

Healthcare

KBWP

-

RSP
11.1%

Industrials

KBWP

-

RSP
14.2%

Real Estate

KBWP

-

RSP
6.1%

Technology

KBWP

-

RSP
20.9%

Utilities

KBWP

-

RSP
5.7%

Compare stocks, funds, or ETFs

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Invesco KBW Property & Casualty Insurance ETF

Invesco S&P 500 Equal Weight ETF

Often compared with KBWP:
KBWP vs. IAKKBWP vs. KIEKBWP vs. KBEKBWP vs. ACGLKBWP vs. PSCFKBWP vs. TRVKBWP vs. VOO
Often compared with RSP:
RSP vs. SPYRSP vs. VOORSP vs. VTIRSP vs. FXAIXRSP vs. IVVRSP vs. EUSARSP vs. GSEW

Return for Risk

KBWP vs. RSP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
KBWP
KBWP Risk / Return Rank: 1111
Overall Rank
KBWP Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
KBWP Sortino Ratio Rank: 1010
Sortino Ratio Rank
KBWP Omega Ratio Rank: 1010
Omega Ratio Rank
KBWP Calmar Ratio Rank: 1111
Calmar Ratio Rank
KBWP Martin Ratio Rank: 1111
Martin Ratio Rank
RSP
RSP Risk / Return Rank: 4949
Overall Rank
RSP Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
RSP Sortino Ratio Rank: 4949
Sortino Ratio Rank
RSP Omega Ratio Rank: 4545
Omega Ratio Rank
RSP Calmar Ratio Rank: 5151
Calmar Ratio Rank
RSP Martin Ratio Rank: 5454
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. RSP - 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 500 Equal Weight ETF (RSP). 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.

KBWPRSPDifference
Sharpe ratioReturn per unit of total volatility
0.15
1.62

-1.47

Sortino ratioReturn per unit of downside risk
0.32
2.34

-2.02

Omega ratioGain probability vs. loss probability

1.04

1.28

-0.24

Calmar ratioReturn relative to maximum drawdown

0.26

2.43

-2.17

Martin ratioReturn relative to average drawdown

0.56

9.17

-8.60

KBWP vs. RSP - Sharpe Ratio Comparison

The current KBWP Sharpe Ratio is 0.15, which is lower than the RSP Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of KBWP and RSP, 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. RSP - Drawdown Comparison

The maximum KBWP drawdown since its inception was -39.76%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for KBWP and RSP.

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Drawdown Indicators

KBWPRSPDifference

Max Drawdown

Largest peak-to-trough decline

-39.76%

-59.92%

+20.16%

Max Drawdown (1Y)

Largest decline over 1 year

-9.56%

-7.85%

-1.71%

Max Drawdown (3Y)

Largest decline over 3 years

-12.29%

-17.81%

+5.52%

Max Drawdown (5Y)

Largest decline over 5 years

-17.00%

-21.38%

+4.38%

Max Drawdown (10Y)

Largest decline over 10 years

-39.76%

-39.04%

-0.72%

Current Drawdown

Current decline from peak

-2.75%

-1.49%

-1.26%

Average Drawdown

Average peak-to-trough decline

-4.37%

-6.64%

+2.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.36%

2.07%

+2.29%

Volatility

KBWP vs. RSP - Volatility Comparison

Invesco KBW Property & Casualty Insurance ETF (KBWP) has a higher volatility of 5.82% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 3.63%. This indicates that KBWP's price experiences larger fluctuations and is considered to be riskier than RSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

KBWPRSPDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.82%

3.63%

+2.19%

Volatility (6M)

Calculated over the trailing 6-month period

12.07%

8.68%

+3.39%

Volatility (1Y)

Calculated over the trailing 1-year period

16.60%

11.82%

+4.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.54%

16.20%

+2.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.73%

18.33%

+2.40%

KBWP vs. RSP - Expense Ratio Comparison

KBWP has a 0.35% expense ratio, which is higher than RSP's 0.20% expense ratio.

Dividends

KBWP vs. RSP - Dividend Comparison

KBWP's dividend yield for the trailing twelve months is around 2.00%, more than RSP's 1.53% yield.

PositionTTM20252024202320222021202020192018201720162015
KBWP
Invesco KBW Property & Casualty Insurance ETF		2.00%1.58%1.64%1.68%1.99%3.02%1.93%1.99%2.11%1.90%2.14%1.35%
RSP
Invesco S&P 500 Equal Weight ETF		1.53%1.64%1.52%1.64%1.82%1.28%1.64%1.69%2.02%1.52%1.20%1.70%

Frequently Asked Questions

KBWP and RSP have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KBWP has higher volatility (5.82%) compared to RSP (3.63%). In terms of maximum drawdown, KBWP dropped -39.76% vs RSP's -59.92%.

On 10-year performance, KBWP leads with 12.39% vs 12.23% for RSP. On fees, RSP is cheaper at 0.20% per year. On volatility, RSP has been the lower-risk option at 3.63%. 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 12.39% return vs 12.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

RSP is cheaper with a 0.20% expense ratio, compared with 0.35% for KBWP.

KBWP has the higher dividend yield at 2.00%, compared with 1.53% for RSP.

KBWP is categorized as Financials Equities, while RSP is S&P 500. KBWP tracks KBW Nasdaq Property & Casualty (TR), while RSP tracks S&P 500 Equal Weight Index. Their fees differ too: 0.35% for KBWP and 0.20% for RSP.

RSP currently has the higher Sharpe Ratio (1.62 vs 0.15), 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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