KBWP vs. VGT

Last updated Jun 14, 2026

KBWP (Invesco KBW Property & Casualty Insurance ETF) and VGT (Vanguard Information Technology ETF) are both exchange-traded funds - KBWP is a Financials Equities fund tracking the KBW Nasdaq Property & Casualty (TR), while VGT is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, KBWP returned 12.09%/yr vs 25.19%/yr for VGT. At a 0.30 correlation, their price movements are largely independent. KBWP charges 0.35%/yr vs 0.09%/yr for VGT.

Performance

KBWP vs. VGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco KBW Property & Casualty Insurance ETF (KBWP) and Vanguard Information Technology ETF (VGT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KBWP achieves a -3.45% return, which is significantly lower than VGT's 24.03% return. Over the past 10 years, KBWP has underperformed VGT with an annualized return of 12.09%, while VGT has yielded a comparatively higher 25.19% 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%

VGT

• 1D: 0.58%
• 1M: 1.35%
• YTD: 24.03%
• 6M: 24.13%
• 1Y: 50.48%
• 3Y*: 29.84%
• 5Y*: 20.35%
• 10Y*: 25.19%

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

KBWP vs. VGT - 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%
VGT Vanguard Information Technology ETF	24.03%	21.77%	29.30%	52.66%	-29.70%	30.45%	46.04%	48.62%	2.46%	37.08%

Correlation

The correlation between KBWP and VGT is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.00
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Dec 22, 2010	0.30

The correlation between KBWP and VGT shifts across timeframes, from -0.18 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

KBWP vs. VGT - Sectors Allocation Comparison

Sectors	KBWP	VGT
Financial Services	100.0%	0.5%
Basic Materials	-	0.0%
Communication Services	-	0.5%
Consumer Cyclical	-	0.1%
Consumer Defensive	-	-
Energy	-	0.3%
Healthcare	-	0.0%
Industrials	-	0.4%
Real Estate	-	-
Technology	-	98.5%
Utilities	-	-

Return for Risk

KBWP vs. VGT — Risk / Return Rank

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

KBWP

KBWP Risk / Return Rank: 10
KBWP Sharpe Ratio Rank: 10
KBWP Sortino Ratio Rank: 10
KBWP Omega Ratio Rank: 10
KBWP Calmar Ratio Rank: 11
KBWP Martin Ratio Rank: 11

VGT

VGT Risk / Return Rank: 70
VGT Sharpe Ratio Rank: 79
VGT Sortino Ratio Rank: 71
VGT Omega Ratio Rank: 72
VGT Calmar Ratio Rank: 67
VGT Martin Ratio Rank: 59

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. VGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Property & Casualty Insurance ETF (KBWP) and Vanguard Information Technology ETF (VGT). 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	VGT	Difference
Sharpe ratio: Return per unit of total volatility	0.06	2.19	-2.13
Sortino ratio: Return per unit of downside risk	0.20	2.74	-2.54
Omega ratio: Gain probability vs. loss probability	1.02	1.36	-0.34
Calmar ratio: Return relative to maximum drawdown	0.11	2.94	-2.83
Martin ratio: Return relative to average drawdown	0.24	9.11	-8.86

KBWP vs. VGT - Sharpe Ratio Comparison

The current KBWP Sharpe Ratio is 0.06, which is lower than the VGT Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of KBWP and VGT, 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. VGT - Drawdown Comparison

The maximum KBWP drawdown since its inception was -39.76%, smaller than the maximum VGT drawdown of -54.63%. Use the drawdown chart below to compare losses from any high point for KBWP and VGT.

Drawdown Indicators

	KBWP	VGT	Difference
Max Drawdown Largest peak-to-trough decline	-39.76%	-54.63%	+14.87%
Max Drawdown (1Y) Largest decline over 1 year	-9.56%	-16.40%	+6.84%
Max Drawdown (3Y) Largest decline over 3 years	-12.29%	-27.23%	+14.94%
Max Drawdown (5Y) Largest decline over 5 years	-17.00%	-35.07%	+18.07%
Max Drawdown (10Y) Largest decline over 10 years	-39.76%	-35.07%	-4.69%
Current Drawdown Current decline from peak	-4.25%	-7.18%	+2.93%
Average Drawdown Average peak-to-trough decline	-4.37%	-7.95%	+3.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.31%	5.28%	-0.97%

Volatility

KBWP vs. VGT - Volatility Comparison

The current volatility for Invesco KBW Property & Casualty Insurance ETF (KBWP) is 5.73%, while Vanguard Information Technology ETF (VGT) has a volatility of 10.00%. This indicates that KBWP experiences smaller price fluctuations and is considered to be less risky than VGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KBWP	VGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.73%	10.00%	-4.27%
Volatility (6M) Calculated over the trailing 6-month period	12.10%	18.00%	-5.90%
Volatility (1Y) Calculated over the trailing 1-year period	16.50%	22.00%	-5.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.60%	25.40%	-6.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.73%	24.72%	-3.99%

KBWP vs. VGT - Expense Ratio Comparison

KBWP has a 0.35% expense ratio, which is higher than VGT's 0.09% expense ratio.

Dividends

KBWP vs. VGT - Dividend Comparison

KBWP's dividend yield for the trailing twelve months is around 1.92%, more than VGT's 0.33% 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%
VGT Vanguard Information Technology ETF	0.33%	0.40%	0.60%	0.65%	0.91%	0.64%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Frequently Asked Questions

Can I hold both KBWP and VGT in my portfolio?

KBWP and VGT have a correlation of -0.18, 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 VGT?

VGT has higher volatility (10.00%) compared to KBWP (5.73%). In terms of maximum drawdown, KBWP dropped -39.76% vs VGT's -54.63%.

Which ETF is better, KBWP or VGT?

On 10-year performance, VGT leads with 25.19% vs 12.09% for KBWP. On fees, VGT is cheaper at 0.09% per year. On volatility, KBWP has been the lower-risk option at 5.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KBWP or VGT?

Over the 10-year period, VGT has performed better with a 25.19% return vs 12.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KBWP or VGT?

VGT is cheaper with a 0.09% expense ratio, compared with 0.35% for KBWP.

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

KBWP has the higher dividend yield at 1.92%, compared with 0.33% for VGT.

What is the main difference between KBWP and VGT?

KBWP is categorized as Financials Equities, while VGT is Technology Equities. KBWP tracks KBW Nasdaq Property & Casualty (TR), while VGT tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.35% for KBWP and 0.09% for VGT.

Which has better risk-adjusted returns?

VGT currently has the higher Sharpe Ratio (2.19 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.