KBWY vs. SCHH
KBWY (Invesco KBW Premium Yield Equity REIT ETF) and SCHH (Schwab US REIT ETF) are both REIT funds - KBWY tracks the KBW Nasdaq Premium Yield Equity REIT Index while SCHH tracks the Dow Jones Equity All REIT Capped Index. Both are passively managed. Over the past 10 years, KBWY returned 1.46%/yr vs 4.29%/yr for SCHH. Their correlation of 0.83 suggests significant overlap in exposure. KBWY charges 0.35%/yr vs 0.07%/yr for SCHH.
Performance
KBWY vs. SCHH - 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 SCHH's 15.41% return. Over the past 10 years, KBWY has underperformed SCHH with an annualized return of 1.46%, while SCHH has yielded a comparatively higher 4.29% annualized 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%
SCHH
- 1D
- 1.31%
- 1M
- 1.22%
- YTD
- 15.41%
- 6M
- 16.02%
- 1Y
- 14.47%
- 3Y*
- 12.09%
- 5Y*
- 3.68%
- 10Y*
- 4.29%
KBWY vs. SCHH - 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% | 0.81% |
SCHH Schwab US REIT ETF | 15.41% | 2.20% | 4.99% | 11.18% | -24.99% | 41.07% | -14.81% | 22.85% | -4.26% | 3.68% |
Correlation
The correlation between KBWY and SCHH 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 (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2011 | 0.83 |
The correlation between KBWY and SCHH has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.
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Return for Risk
KBWY vs. SCHH — Risk / Return Rank
KBWY
SCHH
KBWY vs. SCHH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Premium Yield Equity REIT ETF (KBWY) and Schwab US REIT ETF (SCHH). 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 | SCHH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.19 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 1.75 | +0.97 |
| Martin ratioReturn relative to average drawdown | 6.48 | 5.48 | +0.99 |
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Drawdowns
KBWY vs. SCHH - Drawdown Comparison
The maximum KBWY drawdown since its inception was -57.68%, which is greater than SCHH's maximum drawdown of -44.22%. Use the drawdown chart below to compare losses from any high point for KBWY and SCHH.
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Drawdown Indicators
| KBWY | SCHH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.68% | -44.22% | -13.46% |
Max Drawdown (1Y)Largest decline over 1 year | -9.24% | -8.28% | -0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -29.93% | -17.76% | -12.17% |
Max Drawdown (5Y)Largest decline over 5 years | -32.29% | -33.28% | +0.99% |
Max Drawdown (10Y)Largest decline over 10 years | -57.68% | -44.22% | -13.46% |
Current DrawdownCurrent decline from peak | -6.64% | -0.79% | -5.85% |
Average DrawdownAverage peak-to-trough decline | -14.15% | -9.42% | -4.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 2.65% | +1.23% |
Volatility
KBWY vs. SCHH - Volatility Comparison
The current volatility for Invesco KBW Premium Yield Equity REIT ETF (KBWY) is 4.85%, while Schwab US REIT ETF (SCHH) has a volatility of 5.37%. This indicates that KBWY experiences smaller price fluctuations and is considered to be less risky than SCHH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBWY | SCHH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.85% | 5.37% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 12.16% | 10.42% | +1.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.79% | 13.89% | +2.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.61% | 18.77% | +2.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.08% | 21.02% | +6.06% |
KBWY vs. SCHH - Expense Ratio Comparison
KBWY has a 0.35% expense ratio, which is higher than SCHH's 0.07% expense ratio.
Dividends
KBWY vs. SCHH - Dividend Comparison
KBWY's dividend yield for the trailing twelve months is around 8.28%, more than SCHH's 2.72% 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% |
SCHH Schwab US REIT ETF | 2.72% | 3.04% | 3.22% | 3.24% | 2.55% | 1.50% | 2.86% | 2.86% | 3.64% | 2.22% | 2.81% | 2.48% |
Frequently Asked Questions
KBWY and SCHH 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.
SCHH has higher volatility (5.37%) compared to KBWY (4.85%). In terms of maximum drawdown, KBWY dropped -57.68% vs SCHH's -44.22%.
On 10-year performance, SCHH leads with 4.29% vs 1.46% for KBWY. On fees, SCHH is cheaper at 0.07% per year. On volatility, KBWY has been the lower-risk option at 4.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHH has performed better with a 4.29% return vs 1.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHH is cheaper with a 0.07% expense ratio, compared with 0.35% for KBWY.
KBWY has the higher dividend yield at 8.28%, compared with 2.72% for SCHH.
KBWY tracks KBW Nasdaq Premium Yield Equity REIT Index, while SCHH tracks Dow Jones Equity All REIT Capped Index. They also come from different issuers: Invesco and Charles Schwab. Their fees differ too: 0.35% for KBWY and 0.07% for SCHH.
KBWY currently has the higher Sharpe Ratio (1.50 vs 1.05), 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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