KBWY vs. JRE
KBWY (Invesco KBW Premium Yield Equity REIT ETF) and JRE (Janus Henderson U.S. Real Estate ETF) are both exchange-traded funds - KBWY is a REIT fund tracking the KBW Premium Yield Equity REIT Index, while JRE is a fund fund actively managed by Janus Henderson. KBWY is passively managed, while JRE is actively managed. Over the past 3 years, KBWY returned 10.27%/yr vs 10.22%/yr for JRE. Their correlation of 0.82 suggests significant overlap in exposure. KBWY charges 0.35%/yr vs 0.65%/yr for JRE.
Performance
KBWY vs. JRE - Performance Comparison
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Returns By Period
In the year-to-date period, KBWY achieves a 19.61% return, which is significantly higher than JRE's 13.17% return.
KBWY
- 1D
- 2.17%
- 1M
- 5.12%
- YTD
- 19.61%
- 6M
- 21.19%
- 1Y
- 25.66%
- 3Y*
- 10.27%
- 5Y*
- 2.59%
- 10Y*
- 1.43%
JRE
- 1D
- 0.87%
- 1M
- -0.63%
- YTD
- 13.17%
- 6M
- 12.26%
- 1Y
- 15.89%
- 3Y*
- 10.22%
- 5Y*
- —
- 10Y*
- —
KBWY vs. JRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 19.61% | -5.30% | -3.49% | 12.88% | -19.00% | 14.01% |
JRE Janus Henderson U.S. Real Estate ETF | 13.17% | 2.97% | 7.65% | 8.79% | -23.47% | 16.45% |
Correlation
The correlation between KBWY and JRE is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2021 | 0.82 |
The correlation between KBWY and JRE has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.
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Return for Risk
KBWY vs. JRE — Risk / Return Rank
KBWY
JRE
KBWY vs. JRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Premium Yield Equity REIT ETF (KBWY) and Janus Henderson U.S. Real Estate ETF (JRE). 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.
| KBWY | JRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.22 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 2.23 | +0.55 |
| Martin ratioReturn relative to average drawdown | 6.63 | 6.92 | -0.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KBWY | JRE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 1.21 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.05 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.22 | -0.01 |
Drawdowns
KBWY vs. JRE - Drawdown Comparison
The maximum KBWY drawdown since its inception was -57.68%, which is greater than JRE's maximum drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for KBWY and JRE.
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Drawdown Indicators
| KBWY | JRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.68% | -31.69% | -25.99% |
Max Drawdown (1Y)Largest decline over 1 year | -9.24% | -7.14% | -2.10% |
Max Drawdown (3Y)Largest decline over 3 years | -29.93% | -18.38% | -11.55% |
Max Drawdown (5Y)Largest decline over 5 years | -32.29% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -57.68% | — | — |
Current DrawdownCurrent decline from peak | -8.88% | -2.51% | -6.37% |
Average DrawdownAverage peak-to-trough decline | -14.18% | -12.62% | -1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 2.30% | +1.58% |
Volatility
KBWY vs. JRE - Volatility Comparison
Invesco KBW Premium Yield Equity REIT ETF (KBWY) and Janus Henderson U.S. Real Estate ETF (JRE) have volatilities of 4.49% and 4.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBWY | JRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 4.30% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 11.79% | 9.44% | +2.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.56% | 13.18% | +3.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.63% | 18.71% | +2.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.05% | 18.71% | +8.34% |
KBWY vs. JRE - Expense Ratio Comparison
KBWY has a 0.35% expense ratio, which is lower than JRE's 0.65% expense ratio.
Dividends
KBWY vs. JRE - Dividend Comparison
KBWY's dividend yield for the trailing twelve months is around 8.46%, more than JRE's 4.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JRE Janus Henderson U.S. Real Estate ETF | 4.99% | 5.81% | 2.20% | 2.77% | 2.87% | 0.90% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.46% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
Frequently Asked Questions
KBWY and JRE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KBWY has higher volatility (4.49%) compared to JRE (4.30%). In terms of maximum drawdown, KBWY dropped -57.68% vs JRE's -31.69%.
On 3-year performance, KBWY leads with 10.27% vs 10.22% for JRE. On fees, KBWY is cheaper at 0.35% per year. On volatility, JRE has been the lower-risk option at 4.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, KBWY has performed better with a 10.27% return vs 10.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBWY is cheaper with a 0.35% expense ratio, compared with 0.65% for JRE.
KBWY has the higher dividend yield at 8.46%, compared with 4.99% for JRE.
They also come from different issuers: Invesco and Janus Henderson. Their fees differ too: 0.35% for KBWY and 0.65% for JRE.
KBWY currently has the higher Sharpe Ratio (1.56 vs 1.21), 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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