KBWY vs. PIT
KBWY (Invesco KBW Premium Yield Equity REIT ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - KBWY is a REIT fund tracking the KBW Nasdaq Premium Yield Equity REIT Index, while PIT is a Commodities fund actively managed by VanEck. KBWY is passively managed, while PIT is actively managed. Over the past 3 years, KBWY returned 11.51%/yr vs 19.51%/yr for PIT. At a 0.03 correlation, their price movements are largely independent. KBWY charges 0.35%/yr vs 0.55%/yr for PIT.
Performance
KBWY vs. PIT - Performance Comparison
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Returns By Period
In the year-to-date period, KBWY achieves a 21.05% return, which is significantly lower than PIT's 27.31% return.
KBWY
- 1D
- 0.06%
- 1M
- 3.43%
- YTD
- 21.05%
- 6M
- 22.09%
- 1Y
- 24.91%
- 3Y*
- 11.51%
- 5Y*
- 2.89%
- 10Y*
- 1.34%
PIT
- 1D
- -0.75%
- 1M
- -10.60%
- YTD
- 27.31%
- 6M
- 26.74%
- 1Y
- 38.33%
- 3Y*
- 19.51%
- 5Y*
- —
- 10Y*
- —
KBWY vs. PIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 21.05% | -5.30% | -3.49% | 12.88% | -0.26% |
PIT VanEck Commodity Strategy ETF | 27.31% | 21.63% | 6.77% | -4.54% | 1.67% |
Correlation
The correlation between KBWY and PIT is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022 | 0.03 |
The correlation between KBWY and PIT shifts across timeframes, from -0.14 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KBWY vs. PIT — Risk / Return Rank
KBWY
PIT
KBWY vs. PIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Premium Yield Equity REIT ETF (KBWY) and VanEck Commodity Strategy ETF (PIT). 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 | PIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.32 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 2.74 | -0.03 |
| Martin ratioReturn relative to average drawdown | 6.43 | 10.88 | -4.45 |
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Drawdowns
KBWY vs. PIT - Drawdown Comparison
The maximum KBWY drawdown since its inception was -57.68%, which is greater than PIT's maximum drawdown of -14.05%. Use the drawdown chart below to compare losses from any high point for KBWY and PIT.
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Drawdown Indicators
| KBWY | PIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.68% | -14.05% | -43.63% |
Max Drawdown (1Y)Largest decline over 1 year | -9.24% | -14.05% | +4.81% |
Max Drawdown (3Y)Largest decline over 3 years | -29.93% | -14.05% | -15.88% |
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 | -7.79% | -14.05% | +6.26% |
Average DrawdownAverage peak-to-trough decline | -14.15% | -4.07% | -10.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 3.59% | +0.29% |
Volatility
KBWY vs. PIT - Volatility Comparison
Invesco KBW Premium Yield Equity REIT ETF (KBWY) and VanEck Commodity Strategy ETF (PIT) have volatilities of 4.76% and 4.67%, 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 | PIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.76% | 4.67% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 12.12% | 19.36% | -7.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.78% | 21.66% | -4.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.61% | 17.50% | +4.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.08% | 17.50% | +9.58% |
KBWY vs. PIT - Expense Ratio Comparison
KBWY has a 0.35% expense ratio, which is lower than PIT's 0.55% expense ratio.
Dividends
KBWY vs. PIT - Dividend Comparison
KBWY's dividend yield for the trailing twelve months is around 9.09%, more than PIT's 7.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 9.09% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
PIT VanEck Commodity Strategy ETF | 7.00% | 8.92% | 3.59% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KBWY and PIT have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KBWY has higher volatility (4.76%) compared to PIT (4.67%). In terms of maximum drawdown, KBWY dropped -57.68% vs PIT's -14.05%.
On 3-year performance, PIT leads with 19.51% vs 11.51% for KBWY. On fees, KBWY is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PIT has performed better with a 19.51% return vs 11.51%. 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 0.55% for PIT.
KBWY has the higher dividend yield at 9.09%, compared with 7.00% for PIT.
KBWY is categorized as REIT, while PIT is Commodities. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.35% for KBWY and 0.55% for PIT.
PIT currently has the higher Sharpe Ratio (1.78 vs 1.49), 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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