KBWY vs. PFFR
KBWY (Invesco KBW Premium Yield Equity REIT ETF) and PFFR (InfraCap REIT Preferred ETF) are both exchange-traded funds - KBWY is a REIT fund tracking the KBW Nasdaq Premium Yield Equity REIT Index, while PFFR is a Preferred Stock/Convertible Bonds fund tracking the Indxx REIT Preferred Stock Index. Both are passively managed. Over the past 5 years, KBWY returned 3.00%/yr vs 0.99%/yr for PFFR. At a 0.39 correlation, their price movements are largely independent. KBWY charges 0.35%/yr vs 0.45%/yr for PFFR.
Performance
KBWY vs. PFFR - Performance Comparison
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Returns By Period
In the year-to-date period, KBWY achieves a 22.56% return, which is significantly higher than PFFR's 1.56% return.
KBWY
- 1D
- 1.25%
- 1M
- 4.73%
- YTD
- 22.56%
- 6M
- 24.93%
- 1Y
- 25.07%
- 3Y*
- 11.98%
- 5Y*
- 3.00%
- 10Y*
- 1.46%
PFFR
- 1D
- -0.54%
- 1M
- 1.00%
- YTD
- 1.56%
- 6M
- 1.11%
- 1Y
- 6.55%
- 3Y*
- 9.29%
- 5Y*
- 0.99%
- 10Y*
- —
KBWY vs. PFFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 22.56% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -18.20% | 0.94% |
PFFR InfraCap REIT Preferred ETF | 1.56% | 5.36% | 7.12% | 21.04% | -23.90% | 6.76% | 0.19% | 20.28% | -7.45% | 7.82% |
Correlation
The correlation between KBWY and PFFR is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2017 | 0.39 |
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Return for Risk
KBWY vs. PFFR — Risk / Return Rank
KBWY
PFFR
KBWY vs. PFFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Premium Yield Equity REIT ETF (KBWY) and InfraCap REIT Preferred ETF (PFFR). 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.
| KBWY | PFFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.15 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 1.00 | +1.72 |
| Martin ratioReturn relative to average drawdown | 6.48 | 2.30 | +4.18 |
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Drawdowns
KBWY vs. PFFR - Drawdown Comparison
The maximum KBWY drawdown since its inception was -57.68%, which is greater than PFFR's maximum drawdown of -53.02%. Use the drawdown chart below to compare losses from any high point for KBWY and PFFR.
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Drawdown Indicators
| KBWY | PFFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.68% | -53.02% | -4.66% |
Max Drawdown (1Y)Largest decline over 1 year | -9.24% | -6.57% | -2.67% |
Max Drawdown (3Y)Largest decline over 3 years | -29.93% | -11.16% | -18.77% |
Max Drawdown (5Y)Largest decline over 5 years | -32.29% | -29.80% | -2.49% |
Max Drawdown (10Y)Largest decline over 10 years | -57.68% | — | — |
Current DrawdownCurrent decline from peak | -6.64% | -2.32% | -4.32% |
Average DrawdownAverage peak-to-trough decline | -14.15% | -6.97% | -7.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 2.85% | +1.03% |
Volatility
KBWY vs. PFFR - Volatility Comparison
Invesco KBW Premium Yield Equity REIT ETF (KBWY) has a higher volatility of 4.85% compared to InfraCap REIT Preferred ETF (PFFR) at 2.10%. This indicates that KBWY's price experiences larger fluctuations and is considered to be riskier than PFFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBWY | PFFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.85% | 2.10% | +2.75% |
Volatility (6M)Calculated over the trailing 6-month period | 12.16% | 6.05% | +6.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.79% | 7.82% | +8.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.61% | 10.48% | +11.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.08% | 20.48% | +6.60% |
KBWY vs. PFFR - Expense Ratio Comparison
KBWY has a 0.35% expense ratio, which is lower than PFFR's 0.45% expense ratio.
Dividends
KBWY vs. PFFR - Dividend Comparison
KBWY's dividend yield for the trailing twelve months is around 8.28%, which matches PFFR's 8.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.28% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
PFFR InfraCap REIT Preferred ETF | 8.30% | 7.99% | 7.78% | 7.72% | 8.60% | 6.08% | 6.11% | 5.77% | 6.48% | 6.59% | 0.00% | 0.00% |
Frequently Asked Questions
KBWY and PFFR have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KBWY has higher volatility (4.85%) compared to PFFR (2.10%). In terms of maximum drawdown, KBWY dropped -57.68% vs PFFR's -53.02%.
On 5-year performance, KBWY leads with 3.00% vs 0.99% for PFFR. On fees, KBWY is cheaper at 0.35% per year. On volatility, PFFR has been the lower-risk option at 2.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KBWY has performed better with a 3.00% return vs 0.99%. 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 0.45% for PFFR.
PFFR has the higher dividend yield at 8.30%, compared with 8.28% for KBWY.
KBWY is categorized as REIT, while PFFR is Preferred Stock/Convertible Bonds. KBWY tracks KBW Nasdaq Premium Yield Equity REIT Index, while PFFR tracks Indxx REIT Preferred Stock Index. They also come from different issuers: Invesco and Virtus Investment Partners. Their fees differ too: 0.35% for KBWY and 0.45% for PFFR.
KBWY currently has the higher Sharpe Ratio (1.50 vs 0.84), 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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