KHYB vs. KBWD
KHYB (KraneShares Asia Pacific High Income Bond ETF) and KBWD (Invesco KBW High Dividend Yield Financial ETF) are both exchange-traded funds - KHYB is a Emerging Markets Bonds fund tracking the JP Morgan Asia Credit Index Non-Investment Grade Corporate Index., while KBWD is a Financials Equities fund tracking the KBW Nasdaq Financial Sector Dividend Yield Index. Both are passively managed. Over the past 5 years, KHYB returned 0.16%/yr vs 0.44%/yr for KBWD. At a 0.19 correlation, their price movements are largely independent. KHYB charges 0.69%/yr vs 5.39%/yr for KBWD.
Performance
KHYB vs. KBWD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, KHYB achieves a 2.69% return, which is significantly higher than KBWD's -6.32% return.
KHYB
- 1D
- -0.12%
- 1M
- 0.97%
- YTD
- 2.69%
- 6M
- 2.67%
- 1Y
- 9.82%
- 3Y*
- 8.40%
- 5Y*
- 0.16%
- 10Y*
- —
KBWD
- 1D
- -1.41%
- 1M
- -2.29%
- YTD
- -6.32%
- 6M
- -7.30%
- 1Y
- 1.04%
- 3Y*
- 5.06%
- 5Y*
- 0.44%
- 10Y*
- 4.94%
KHYB vs. KBWD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
KHYB KraneShares Asia Pacific High Income Bond ETF | 2.69% | 9.59% | 10.79% | 3.50% | -10.15% | -12.32% | 2.00% | 8.87% | 0.45% |
KBWD Invesco KBW High Dividend Yield Financial ETF | -6.32% | 5.59% | 4.30% | 20.21% | -19.14% | 31.89% | -15.58% | 20.72% | -10.49% |
Correlation
The correlation between KHYB and KBWD is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2018 | 0.19 |
Over the past year, KHYB and KBWD have become more correlated (0.46) than their long-term average of 0.19, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
KHYB vs. KBWD — Risk / Return Rank
KHYB
KBWD
KHYB vs. KBWD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Asia Pacific High Income Bond ETF (KHYB) and Invesco KBW High Dividend Yield Financial ETF (KBWD). 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.
| KHYB | KBWD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.80 | ||
| Sortino ratioReturn per unit of downside risk | +4.25 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.02 | +0.62 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | 0.07 | +2.42 |
| Martin ratioReturn relative to average drawdown | 11.15 | 0.17 | +10.98 |
Loading charts...
Drawdowns
KHYB vs. KBWD - Drawdown Comparison
The maximum KHYB drawdown since its inception was -33.63%, smaller than the maximum KBWD drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for KHYB and KBWD.
Loading charts...
Drawdown Indicators
| KHYB | KBWD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -58.63% | +25.00% |
Max Drawdown (1Y)Largest decline over 1 year | -3.97% | -15.05% | +11.08% |
Max Drawdown (3Y)Largest decline over 3 years | -5.44% | -19.65% | +14.21% |
Max Drawdown (5Y)Largest decline over 5 years | -32.73% | -30.74% | -1.99% |
Max Drawdown (10Y)Largest decline over 10 years | — | -58.63% | — |
Current DrawdownCurrent decline from peak | -0.43% | -12.97% | +12.54% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -7.42% | -2.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 6.31% | -5.43% |
Volatility
KHYB vs. KBWD - Volatility Comparison
The current volatility for KraneShares Asia Pacific High Income Bond ETF (KHYB) is 0.86%, while Invesco KBW High Dividend Yield Financial ETF (KBWD) has a volatility of 4.90%. This indicates that KHYB experiences smaller price fluctuations and is considered to be less risky than KBWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| KHYB | KBWD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 4.90% | -4.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | 12.55% | -9.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 15.68% | -12.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 19.84% | -13.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.70% | 23.27% | -17.57% |
KHYB vs. KBWD - Expense Ratio Comparison
KHYB has a 0.69% expense ratio, which is lower than KBWD's 5.39% expense ratio.
Dividends
KHYB vs. KBWD - Dividend Comparison
KHYB's dividend yield for the trailing twelve months is around 8.12%, less than KBWD's 15.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWD Invesco KBW High Dividend Yield Financial ETF | 15.85% | 12.83% | 12.45% | 11.45% | 11.32% | 7.26% | 9.68% | 8.63% | 9.47% | 8.77% | 8.68% | 8.89% |
KHYB KraneShares Asia Pacific High Income Bond ETF | 8.12% | 7.59% | 10.11% | 15.55% | 9.67% | 6.22% | 4.76% | 4.86% | 2.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KHYB and KBWD have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KBWD has higher volatility (4.90%) compared to KHYB (0.86%). In terms of maximum drawdown, KHYB dropped -33.63% vs KBWD's -58.63%.
On 5-year performance, KBWD leads with 0.44% vs 0.16% for KHYB. On fees, KHYB is cheaper at 0.69% per year. On volatility, KHYB has been the lower-risk option at 0.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KBWD has performed better with a 0.44% return vs 0.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KHYB is cheaper with a 0.69% expense ratio, compared with 5.39% for KBWD.
KBWD has the higher dividend yield at 15.85%, compared with 8.12% for KHYB.
KHYB is categorized as Emerging Markets Bonds, while KBWD is Financials Equities. KHYB tracks JP Morgan Asia Credit Index Non-Investment Grade Corporate Index., while KBWD tracks KBW Nasdaq Financial Sector Dividend Yield Index. They also come from different issuers: KraneShares and Invesco. Their fees differ too: 0.69% for KHYB and 5.39% for KBWD.
KHYB currently has the higher Sharpe Ratio (2.87 vs 0.07), 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.
Find the right allocation for KHYB and KBWD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer