KBWP vs. SOXY

Last updated Aug 2, 2026

KBWP (Invesco KBW Property & Casualty Insurance ETF) and SOXY (YieldMax Target 12™ Semiconductor Option Income ETF) are both exchange-traded funds - KBWP is a Financials Equities fund tracking the KBW Nasdaq Property & Casualty Index, while SOXY is a Derivative Income fund actively managed by YieldMax. KBWP is passively managed, while SOXY is actively managed. Over the past year, KBWP returned 18.27% vs 93.60% for SOXY. Their -0.23 correlation means they have often moved in opposite directions in the past. KBWP charges 0.35%/yr vs 1.06%/yr for SOXY.

Performance

KBWP vs. SOXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco KBW Property & Casualty Insurance ETF (KBWP) and YieldMax Target 12™ Semiconductor Option Income ETF (SOXY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KBWP achieves a 7.40% return, which is significantly lower than SOXY's 58.34% 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%

SOXY

• 1D: 0.60%
• 1M: -12.01%
• 6M: 42.45%
• YTD: 58.34%
• 1Y: 93.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 58.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KBWP Invesco KBW Property & Casualty Insurance ETF	$2.91M	$3.13M	$2.04M
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	$2.13M	$2.44M	$2.09M

KBWP vs. SOXY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KBWP Invesco KBW Property & Casualty Insurance ETF	7.40%	11.49%	-6.56%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	58.34%	37.00%	-0.99%

Correlation

The correlation between KBWP and SOXY is -0.41, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.41
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024	-0.23

The correlation between KBWP and SOXY shifts across timeframes, from -0.41 (1 year) to -0.23 (all time), reflecting how their relationship changes across market environments.

KBWP vs. SOXY - Sectors Allocation Comparison

Sectors	KBWP	SOXY
Financial Services	100.0%	0.1%
Basic Materials	-	0.0%
Communication Services	-	0.0%
Consumer Cyclical	-	0.0%
Consumer Defensive	-	0.0%
Energy	-	0.0%
Healthcare	-	0.0%
Industrials	-	0.0%
Real Estate	-	-
Technology	-	100.0%
Utilities	-	0.0%

Return for Risk

KBWP vs. SOXY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KBWP

KBWP Risk / Return Rank: 41
KBWP Sharpe Ratio Rank: 40
KBWP Sortino Ratio Rank: 39
KBWP Omega Ratio Rank: 38
KBWP Calmar Ratio Rank: 51
KBWP Martin Ratio Rank: 39

SOXY

SOXY Risk / Return Rank: 87
SOXY Sharpe Ratio Rank: 91
SOXY Sortino Ratio Rank: 83
SOXY Omega Ratio Rank: 85
SOXY Calmar Ratio Rank: 85
SOXY Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KBWP vs. SOXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and YieldMax Target 12™ Semiconductor Option Income ETF (SOXY). 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	SOXY	Difference
Sharpe ratio: Return per unit of total volatility	0.98	2.30	-1.32
Sortino ratio: Return per unit of downside risk	1.46	2.73	-1.27
Omega ratio: Gain probability vs. loss probability	1.18	1.37	-0.18
Calmar ratio: Return relative to maximum drawdown	1.83	3.21	-1.38
Martin ratio: Return relative to average drawdown	4.15	14.50	-10.35

KBWP vs. SOXY - Sharpe Ratio Comparison

The current KBWP Sharpe Ratio is 0.98, which is lower than the SOXY Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of KBWP and SOXY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KBWP vs. SOXY - Drawdown Comparison

The maximum KBWP drawdown since its inception was -39.76%, which is greater than SOXY's maximum drawdown of -30.22%. Use the drawdown chart below to compare losses from any high point for KBWP and SOXY.

Drawdown Indicators

	KBWP	SOXY	Difference
Max Drawdown Largest peak-to-trough decline	-39.76%	-30.22%	-9.54%
Max Drawdown (1Y) Largest decline over 1 year	-9.56%	-28.56%	+19.00%
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 Drawdown Current decline from peak	-3.41%	-21.71%	+18.30%
Average Drawdown Average peak-to-trough decline	-4.35%	-5.49%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.20%	6.31%	-2.11%

Volatility

KBWP vs. SOXY - Volatility Comparison

The current volatility for Invesco KBW Property & Casualty Insurance ETF (KBWP) is 7.95%, while YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) has a volatility of 18.62%. This indicates that KBWP experiences smaller price fluctuations and is considered to be less risky than SOXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KBWP	SOXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.95%	18.62%	-10.67%
Volatility (6M) Calculated over the trailing 6-month period	14.30%	35.73%	-21.43%
Volatility (1Y) Calculated over the trailing 1-year period	17.84%	39.94%	-22.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.72%	39.31%	-20.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.85%	39.31%	-18.46%

KBWP vs. SOXY - Expense Ratio Comparison

KBWP has a 0.35% expense ratio, which is lower than SOXY's 1.06% expense ratio.

Dividends

KBWP vs. SOXY - Dividend Comparison

KBWP's dividend yield for the trailing twelve months is around 1.82%, less than SOXY's 9.41% 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%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	9.41%	11.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KBWP and SOXY in my portfolio?

KBWP and SOXY 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 SOXY?

SOXY has higher volatility (18.62%) compared to KBWP (7.95%). In terms of maximum drawdown, KBWP dropped -39.76% vs SOXY's -30.22%.

Which ETF is better, KBWP or SOXY?

On 1-year performance, SOXY leads with 93.60% vs 18.27% for KBWP. On fees, KBWP is cheaper at 0.35% per year. On volatility, KBWP has been the lower-risk option at 7.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KBWP or SOXY?

Over the 1-year period, SOXY has performed better with a 93.60% return vs 18.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KBWP or SOXY?

KBWP is cheaper with a 0.35% expense ratio, compared with 1.06% for SOXY.

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

SOXY has the higher dividend yield at 9.41%, compared with 1.82% for KBWP.

What is the main difference between KBWP and SOXY?

KBWP is categorized as Financials Equities, while SOXY is Derivative Income. They also come from different issuers: Invesco and YieldMax. Their fees differ too: 0.35% for KBWP and 1.06% for SOXY.

Which has better risk-adjusted returns?

SOXY currently has the higher Sharpe Ratio (2.30 vs 0.98), 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.