KBWY vs. USRT

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco KBW Premium Yield Equity REIT ETF (KBWY) and iShares Core U.S. REIT ETF (USRT).

KBWY and USRT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KBWY is a passively managed fund by Invesco that tracks the performance of the KBW Premium Yield Equity REIT Index. It was launched on Dec 2, 2010. USRT is a passively managed fund by iShares that tracks the performance of the FTSE NAREIT Equity REITs Index. It was launched on May 4, 2007. Both KBWY and USRT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

KBWY vs. USRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco KBW Premium Yield Equity REIT ETF (KBWY) and iShares Core U.S. REIT ETF (USRT). The values are adjusted to include any dividend payments, if applicable.

KBWY vs. USRT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KBWY Invesco KBW Premium Yield Equity REIT ETF	1.36%	-5.30%	-3.49%	12.88%	-19.00%	31.22%	-25.83%	23.36%	-18.20%	0.81%
USRT iShares Core U.S. REIT ETF	4.27%	2.44%	8.58%	13.64%	-24.43%	43.26%	-8.06%	25.98%	-4.67%	5.27%

Returns By Period

In the year-to-date period, KBWY achieves a 1.36% return, which is significantly lower than USRT's 4.27% return. Over the past 10 years, KBWY has underperformed USRT with an annualized return of 0.27%, while USRT has yielded a comparatively higher 5.42% annualized return.

KBWY

• 1D: 1.46%
• 1M: -5.95%
• YTD: 1.36%
• 6M: 0.50%
• 1Y: 0.75%
• 3Y*: 2.80%
• 5Y*: -0.24%
• 10Y*: 0.27%

USRT

• 1D: 1.42%
• 1M: -6.02%
• YTD: 4.27%
• 6M: 2.38%
• 1Y: 5.82%
• 3Y*: 8.72%
• 5Y*: 5.12%
• 10Y*: 5.42%

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

KBWY vs. USRT - Expense Ratio Comparison

KBWY has a 0.35% expense ratio, which is higher than USRT's 0.08% expense ratio.

KBWY

Invesco KBW Premium Yield Equity REIT ETF

USRT

iShares Core U.S. REIT ETF

Return for Risk

KBWY vs. USRT — Risk / Return Rank

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

KBWY

KBWY Risk / Return Rank: 13
KBWY Sharpe Ratio Rank: 13
KBWY Sortino Ratio Rank: 13
KBWY Omega Ratio Rank: 13
KBWY Calmar Ratio Rank: 14
KBWY Martin Ratio Rank: 14

USRT

USRT Risk / Return Rank: 25
USRT Sharpe Ratio Rank: 23
USRT Sortino Ratio Rank: 23
USRT Omega Ratio Rank: 23
USRT Calmar Ratio Rank: 26
USRT Martin Ratio Rank: 29

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. USRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Premium Yield Equity REIT ETF (KBWY) and iShares Core U.S. REIT ETF (USRT). 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	USRT	Difference
Sharpe ratio Return per unit of total volatility	0.04	0.35	-0.31
Sortino ratio Return per unit of downside risk	0.19	0.59	-0.40
Omega ratio Gain probability vs. loss probability	1.02	1.08	-0.06
Calmar ratio Return relative to maximum drawdown	0.08	0.53	-0.45
Martin ratio Return relative to average drawdown	0.23	2.23	-2.00
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. USRT - Sharpe Ratio Comparison

The current KBWY Sharpe Ratio is 0.04, which is lower than the USRT Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of KBWY and USRT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	KBWY	USRT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.04	0.35	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	0.27	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.01	0.26	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.17	-0.01

Correlation

The correlation between KBWY and USRT is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

KBWY vs. USRT - Dividend Comparison

KBWY's dividend yield for the trailing twelve months is around 9.87%, more than USRT's 2.89% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KBWY Invesco KBW Premium Yield Equity REIT ETF	9.87%	9.79%	8.74%	7.90%	7.41%	5.05%	10.35%	6.19%	8.64%	7.25%	6.55%	5.72%
USRT iShares Core U.S. REIT ETF	2.89%	3.07%	2.85%	3.18%	3.46%	2.27%	3.12%	3.34%	5.66%	3.44%	3.98%	3.59%

Drawdowns

KBWY vs. USRT - Drawdown Comparison

The maximum KBWY drawdown since its inception was -57.68%, smaller than the maximum USRT drawdown of -69.91%. Use the drawdown chart below to compare losses from any high point for KBWY and USRT.

Drawdown Indicators

	KBWY	USRT	Difference
Max Drawdown Largest peak-to-trough decline	-57.68%	-69.91%	+12.23%
Max Drawdown (1Y) Largest decline over 1 year	-13.71%	-12.95%	-0.76%
Max Drawdown (5Y) Largest decline over 5 years	-32.29%	-31.03%	-1.26%
Max Drawdown (10Y) Largest decline over 10 years	-57.68%	-44.38%	-13.30%
Current Drawdown Current decline from peak	-22.78%	-6.38%	-16.40%
Average Drawdown Average peak-to-trough decline	-14.17%	-13.08%	-1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.89%	3.09%	+1.80%

Volatility

KBWY vs. USRT - Volatility Comparison

Invesco KBW Premium Yield Equity REIT ETF (KBWY) has a higher volatility of 5.91% compared to iShares Core U.S. REIT ETF (USRT) at 4.44%. This indicates that KBWY's price experiences larger fluctuations and is considered to be riskier than USRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KBWY	USRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.91%	4.44%	+1.47%
Volatility (6M) Calculated over the trailing 6-month period	11.75%	9.21%	+2.54%
Volatility (1Y) Calculated over the trailing 1-year period	19.26%	16.84%	+2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.58%	18.92%	+2.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.04%	21.28%	+5.76%