KBWY vs. LPRE

Last updated Jun 5, 2026

KBWY (Invesco KBW Premium Yield Equity REIT ETF) and LPRE (Long Pond Real Estate Select ETF) are both REIT funds. KBWY is passively managed, while LPRE is actively managed. Over the past year, KBWY returned 25.66% vs 19.82% for LPRE. Their correlation of 0.81 suggests significant overlap in exposure. KBWY charges 0.35%/yr vs 1.00%/yr for LPRE.

Performance

KBWY vs. LPRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco KBW Premium Yield Equity REIT ETF (KBWY) and Long Pond Real Estate Select ETF (LPRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KBWY achieves a 19.61% return, which is significantly higher than LPRE's 10.78% 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%

LPRE

• 1D: 1.68%
• 1M: 4.92%
• YTD: 10.78%
• 6M: 14.50%
• 1Y: 19.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KBWY vs. LPRE - Yearly Performance Comparison

	2026 (YTD)	2025
KBWY Invesco KBW Premium Yield Equity REIT ETF	19.61%	7.17%
LPRE Long Pond Real Estate Select ETF	10.78%	17.18%

Correlation

The correlation between KBWY and LPRE is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025	0.81

The correlation between KBWY and LPRE has been stable across timeframes, ranging from 0.81 to 0.81 - a consistent structural relationship.

Return for Risk

KBWY vs. LPRE — Risk / Return Rank

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

KBWY

KBWY Risk / Return Rank: 46
KBWY Sharpe Ratio Rank: 45
KBWY Sortino Ratio Rank: 46
KBWY Omega Ratio Rank: 41
KBWY Calmar Ratio Rank: 58
KBWY Martin Ratio Rank: 42

LPRE

LPRE Risk / Return Rank: 39
LPRE Sharpe Ratio Rank: 37
LPRE Sortino Ratio Rank: 39
LPRE Omega Ratio Rank: 35
LPRE Calmar Ratio Rank: 40
LPRE Martin Ratio Rank: 42

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.

KBWY vs. LPRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Premium Yield Equity REIT ETF (KBWY) and Long Pond Real Estate Select ETF (LPRE). 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	LPRE	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.29	+0.27
Sortino ratio: Return per unit of downside risk	2.24	1.93	+0.31
Omega ratio: Gain probability vs. loss probability	1.26	1.23	+0.04
Calmar ratio: Return relative to maximum drawdown	2.79	1.93	+0.86
Martin ratio: Return relative to average drawdown	6.63	6.61	+0.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KBWY vs. LPRE - Sharpe Ratio Comparison

The current KBWY Sharpe Ratio is 1.56, which is comparable to the LPRE Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of KBWY and LPRE, 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

	KBWY	LPRE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	1.29	+0.27
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	1.39	-1.19

Drawdowns

KBWY vs. LPRE - Drawdown Comparison

The maximum KBWY drawdown since its inception was -57.68%, which is greater than LPRE's maximum drawdown of -10.33%. Use the drawdown chart below to compare losses from any high point for KBWY and LPRE.

Drawdown Indicators

	KBWY	LPRE	Difference
Max Drawdown Largest peak-to-trough decline	-57.68%	-10.33%	-47.35%
Max Drawdown (1Y) Largest decline over 1 year	-9.24%	-10.33%	+1.09%
Max Drawdown (3Y) Largest decline over 3 years	-29.93%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.29%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-57.68%	—	—
Current Drawdown Current decline from peak	-8.88%	-0.07%	-8.81%
Average Drawdown Average peak-to-trough decline	-14.18%	-2.13%	-12.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.88%	3.00%	+0.88%

Volatility

KBWY vs. LPRE - Volatility Comparison

Invesco KBW Premium Yield Equity REIT ETF (KBWY) and Long Pond Real Estate Select ETF (LPRE) have volatilities of 4.49% and 4.69%, 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.

Volatility by Period

	KBWY	LPRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	4.69%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	11.79%	11.00%	+0.79%
Volatility (1Y) Calculated over the trailing 1-year period	16.56%	15.47%	+1.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.63%	18.17%	+3.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.05%	18.17%	+8.88%

KBWY vs. LPRE - Expense Ratio Comparison

KBWY has a 0.35% expense ratio, which is lower than LPRE's 1.00% expense ratio.

Dividends

KBWY vs. LPRE - Dividend Comparison

KBWY's dividend yield for the trailing twelve months is around 8.46%, more than LPRE's 1.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
LPRE Long Pond Real Estate Select ETF	1.14%	0.93%	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 KBWY and LPRE in my portfolio?

KBWY and LPRE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KBWY or LPRE?

LPRE has higher volatility (4.69%) compared to KBWY (4.49%). In terms of maximum drawdown, KBWY dropped -57.68% vs LPRE's -10.33%.

Which ETF is better, KBWY or LPRE?

On 1-year performance, KBWY leads with 25.66% vs 19.82% for LPRE. On fees, KBWY is cheaper at 0.35% per year. On volatility, KBWY has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KBWY or LPRE?

Over the 1-year period, KBWY has performed better with a 25.66% return vs 19.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KBWY or LPRE?

KBWY is cheaper with a 0.35% expense ratio, compared with 1.00% for LPRE.

Which ETF pays a higher dividend yield, KBWY or LPRE?

KBWY has the higher dividend yield at 8.46%, compared with 1.14% for LPRE.

What is the main difference between KBWY and LPRE?

They also come from different issuers: Invesco and Long Pond. Their fees differ too: 0.35% for KBWY and 1.00% for LPRE.

Which has better risk-adjusted returns?

KBWY currently has the higher Sharpe Ratio (1.56 vs 1.29), 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.