KBWY vs. PPTY
KBWY (Invesco KBW Premium Yield Equity REIT ETF) and PPTY (US Diversified Real Estate ETF) are both REIT funds - KBWY tracks the KBW Nasdaq Premium Yield Equity REIT Index while PPTY tracks the USREX - U.S. Diversified Real Estate Index. Both are passively managed. Over the past 5 years, KBWY returned 3.00%/yr vs 3.03%/yr for PPTY. Their correlation of 0.87 suggests significant overlap in exposure. KBWY charges 0.35%/yr vs 0.49%/yr for PPTY.
Performance
KBWY vs. PPTY - 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 PPTY's 13.64% 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%
PPTY
- 1D
- 1.21%
- 1M
- 2.70%
- YTD
- 13.64%
- 6M
- 14.29%
- 1Y
- 13.03%
- 3Y*
- 11.23%
- 5Y*
- 3.03%
- 10Y*
- —
KBWY vs. PPTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 22.56% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -5.88% |
PPTY US Diversified Real Estate ETF | 13.64% | -3.47% | 9.85% | 12.66% | -26.10% | 40.36% | -7.25% | 30.19% | 4.86% |
Correlation
The correlation between KBWY and PPTY is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018 | 0.87 |
The correlation between KBWY and PPTY has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.
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Return for Risk
KBWY vs. PPTY — Risk / Return Rank
KBWY
PPTY
KBWY vs. PPTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Premium Yield Equity REIT ETF (KBWY) and US Diversified Real Estate ETF (PPTY). 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 | PPTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.16 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 1.62 | +1.11 |
| Martin ratioReturn relative to average drawdown | 6.48 | 4.68 | +1.80 |
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Drawdowns
KBWY vs. PPTY - Drawdown Comparison
The maximum KBWY drawdown since its inception was -57.68%, which is greater than PPTY's maximum drawdown of -41.69%. Use the drawdown chart below to compare losses from any high point for KBWY and PPTY.
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Drawdown Indicators
| KBWY | PPTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.68% | -41.69% | -15.99% |
Max Drawdown (1Y)Largest decline over 1 year | -9.24% | -8.09% | -1.15% |
Max Drawdown (3Y)Largest decline over 3 years | -29.93% | -21.06% | -8.87% |
Max Drawdown (5Y)Largest decline over 5 years | -32.29% | -32.37% | +0.08% |
Max Drawdown (10Y)Largest decline over 10 years | -57.68% | — | — |
Current DrawdownCurrent decline from peak | -6.64% | -0.86% | -5.78% |
Average DrawdownAverage peak-to-trough decline | -14.15% | -11.28% | -2.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 2.79% | +1.09% |
Volatility
KBWY vs. PPTY - Volatility Comparison
Invesco KBW Premium Yield Equity REIT ETF (KBWY) and US Diversified Real Estate ETF (PPTY) have volatilities of 4.85% and 4.88%, 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 | PPTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.85% | 4.88% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 12.16% | 10.08% | +2.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.79% | 14.15% | +2.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.61% | 18.60% | +3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.08% | 21.90% | +5.18% |
KBWY vs. PPTY - Expense Ratio Comparison
KBWY has a 0.35% expense ratio, which is lower than PPTY's 0.49% expense ratio.
Dividends
KBWY vs. PPTY - Dividend Comparison
KBWY's dividend yield for the trailing twelve months is around 8.28%, more than PPTY's 2.56% 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% |
PPTY US Diversified Real Estate ETF | 2.56% | 3.04% | 3.29% | 4.08% | 4.29% | 2.87% | 3.43% | 3.30% | 1.97% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KBWY and PPTY have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PPTY has higher volatility (4.88%) compared to KBWY (4.85%). In terms of maximum drawdown, KBWY dropped -57.68% vs PPTY's -41.69%.
On 5-year performance, PPTY leads with 3.03% vs 3.00% 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 5-year period, PPTY has performed better with a 3.03% return vs 3.00%. 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 0.49% for PPTY.
KBWY has the higher dividend yield at 8.28%, compared with 2.56% for PPTY.
KBWY tracks KBW Nasdaq Premium Yield Equity REIT Index, while PPTY tracks USREX - U.S. Diversified Real Estate Index. They also come from different issuers: Invesco and Vident. Their fees differ too: 0.35% for KBWY and 0.49% for PPTY.
KBWY currently has the higher Sharpe Ratio (1.50 vs 0.93), 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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