KBWY vs. XLG
KBWY (Invesco KBW Premium Yield Equity REIT ETF) and XLG (Invesco S&P 500 Top 50 ETF) are both exchange-traded funds - KBWY is a REIT fund tracking the KBW Nasdaq Premium Yield Equity REIT Index, while XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index. Both are passively managed. Over the past 10 years, KBWY returned 1.46%/yr vs 16.94%/yr for XLG. At a 0.46 correlation, their price movements are largely independent. KBWY charges 0.35%/yr vs 0.20%/yr for XLG.
Performance
KBWY vs. XLG - 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 XLG's 1.60% return. Over the past 10 years, KBWY has underperformed XLG with an annualized return of 1.46%, while XLG has yielded a comparatively higher 16.94% 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%
XLG
- 1D
- -1.88%
- 1M
- -5.41%
- YTD
- 1.60%
- 6M
- 0.73%
- 1Y
- 19.95%
- 3Y*
- 21.35%
- 5Y*
- 14.28%
- 10Y*
- 16.94%
KBWY vs. XLG - 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% |
XLG Invesco S&P 500 Top 50 ETF | 1.60% | 19.51% | 33.49% | 38.16% | -24.29% | 30.77% | 24.15% | 32.04% | -3.59% | 23.04% |
Correlation
The correlation between KBWY and XLG is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2010 | 0.46 |
Over the past year, the correlation between KBWY and XLG has dropped to 0.18 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.
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Return for Risk
KBWY vs. XLG — Risk / Return Rank
KBWY
XLG
KBWY vs. XLG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Premium Yield Equity REIT ETF (KBWY) and Invesco S&P 500 Top 50 ETF (XLG). 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 | XLG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.26 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 1.61 | +1.11 |
| Martin ratioReturn relative to average drawdown | 6.48 | 5.77 | +0.70 |
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Drawdowns
KBWY vs. XLG - Drawdown Comparison
The maximum KBWY drawdown since its inception was -57.68%, which is greater than XLG's maximum drawdown of -52.39%. Use the drawdown chart below to compare losses from any high point for KBWY and XLG.
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Drawdown Indicators
| KBWY | XLG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.68% | -52.39% | -5.29% |
Max Drawdown (1Y)Largest decline over 1 year | -9.24% | -12.41% | +3.17% |
Max Drawdown (3Y)Largest decline over 3 years | -29.93% | -20.70% | -9.23% |
Max Drawdown (5Y)Largest decline over 5 years | -32.29% | -28.02% | -4.27% |
Max Drawdown (10Y)Largest decline over 10 years | -57.68% | -30.46% | -27.22% |
Current DrawdownCurrent decline from peak | -6.64% | -6.91% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -14.15% | -7.63% | -6.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 3.46% | +0.42% |
Volatility
KBWY vs. XLG - Volatility Comparison
Invesco KBW Premium Yield Equity REIT ETF (KBWY) and Invesco S&P 500 Top 50 ETF (XLG) have volatilities of 4.85% and 5.04%, 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 | XLG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.85% | 5.04% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.16% | 10.74% | +1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.79% | 13.98% | +2.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.61% | 18.79% | +2.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.08% | 18.88% | +8.20% |
KBWY vs. XLG - Expense Ratio Comparison
KBWY has a 0.35% expense ratio, which is higher than XLG's 0.20% expense ratio.
Dividends
KBWY vs. XLG - Dividend Comparison
KBWY's dividend yield for the trailing twelve months is around 8.28%, more than XLG's 0.66% 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% |
XLG Invesco S&P 500 Top 50 ETF | 0.66% | 0.64% | 0.72% | 0.97% | 1.34% | 0.94% | 1.25% | 1.58% | 2.00% | 1.85% | 2.00% | 2.09% |
Frequently Asked Questions
KBWY and XLG have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLG has higher volatility (5.04%) compared to KBWY (4.85%). In terms of maximum drawdown, KBWY dropped -57.68% vs XLG's -52.39%.
On 10-year performance, XLG leads with 16.94% vs 1.46% for KBWY. On fees, XLG is cheaper at 0.20% 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, XLG has performed better with a 16.94% return vs 1.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLG is cheaper with a 0.20% expense ratio, compared with 0.35% for KBWY.
KBWY has the higher dividend yield at 8.28%, compared with 0.66% for XLG.
KBWY is categorized as REIT, while XLG is S&P 500. KBWY tracks KBW Nasdaq Premium Yield Equity REIT Index, while XLG tracks S&P 500 Top 50 Index. Their fees differ too: 0.35% for KBWY and 0.20% for XLG.
KBWY currently has the higher Sharpe Ratio (1.50 vs 1.44), 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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