KNG vs. FIW

Last updated Jun 24, 2026

KNG (FT Vest S&P 500 Dividend Aristocrats Target Income ETF) and FIW (First Trust Water ETF) are both exchange-traded funds - KNG is a Dividend fund tracking the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series, while FIW is a Water Equities fund tracking the ISE Clean Edge Water Index. Both are passively managed. Over the past 5 years, KNG returned 5.39%/yr vs 5.63%/yr for FIW. Their correlation of 0.84 suggests significant overlap in exposure. KNG charges 0.75%/yr vs 0.50%/yr for FIW.

Performance

KNG vs. FIW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) and First Trust Water ETF (FIW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KNG achieves a 4.84% return, which is significantly higher than FIW's -3.00% return.

KNG

• 1D: 0.65%
• 1M: 2.07%
• YTD: 4.84%
• 6M: 4.41%
• 1Y: 10.46%
• 3Y*: 7.42%
• 5Y*: 5.39%
• 10Y*: —

FIW

• 1D: -0.33%
• 1M: 2.90%
• YTD: -3.00%
• 6M: -4.67%
• 1Y: -1.15%
• 3Y*: 7.63%
• 5Y*: 5.63%
• 10Y*: 12.64%

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

KNG vs. FIW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF	4.84%	6.63%	5.99%	7.48%	-7.03%	24.78%	7.21%	26.64%	-1.56%
FIW First Trust Water ETF	-3.00%	7.20%	8.38%	20.35%	-15.70%	32.00%	21.15%	37.37%	-7.23%

Correlation

The correlation between KNG and FIW is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018	0.84

The correlation between KNG and FIW has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.

KNG vs. FIW - Sectors Allocation Comparison

Sectors	KNG	FIW
Consumer Defensive	23.6%	2.7%
Industrials	20.2%	54.1%
Financial Services	12.8%	-
Healthcare	10.2%	8.1%
Basic Materials	10.2%	5.4%
Utilities	5.7%	16.2%
Consumer Cyclical	5.3%	2.7%
Technology	4.6%	8.1%
Real Estate	4.6%	-
Energy	2.9%	-
Communication Services	-	-

Return for Risk

KNG vs. FIW — Risk / Return Rank

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

KNG

KNG Risk / Return Rank: 27
KNG Sharpe Ratio Rank: 29
KNG Sortino Ratio Rank: 30
KNG Omega Ratio Rank: 26
KNG Calmar Ratio Rank: 26
KNG Martin Ratio Rank: 24

FIW

FIW Risk / Return Rank: 8
FIW Sharpe Ratio Rank: 8
FIW Sortino Ratio Rank: 8
FIW Omega Ratio Rank: 7
FIW Calmar Ratio Rank: 8
FIW Martin Ratio Rank: 8

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.

KNG vs. FIW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) and First Trust Water ETF (FIW). 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.

	KNG	FIW	Difference
Sharpe ratio: Return per unit of total volatility	1.01	-0.07	+1.09
Sortino ratio: Return per unit of downside risk	1.55	0.01	+1.54
Omega ratio: Gain probability vs. loss probability	1.18	1.00	+0.17
Calmar ratio: Return relative to maximum drawdown	1.22	-0.08	+1.30
Martin ratio: Return relative to average drawdown	3.07	-0.20	+3.27

KNG vs. FIW - Sharpe Ratio Comparison

The current KNG Sharpe Ratio is 1.01, which is higher than the FIW Sharpe Ratio of -0.07. The chart below compares the historical Sharpe Ratios of KNG and FIW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KNG vs. FIW - Drawdown Comparison

The maximum KNG drawdown since its inception was -35.12%, smaller than the maximum FIW drawdown of -52.75%. Use the drawdown chart below to compare losses from any high point for KNG and FIW.

Drawdown Indicators

	KNG	FIW	Difference
Max Drawdown Largest peak-to-trough decline	-35.12%	-52.75%	+17.63%
Max Drawdown (1Y) Largest decline over 1 year	-8.61%	-13.81%	+5.20%
Max Drawdown (3Y) Largest decline over 3 years	-14.24%	-18.32%	+4.08%
Max Drawdown (5Y) Largest decline over 5 years	-18.20%	-28.53%	+10.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.60%	—
Current Drawdown Current decline from peak	-3.46%	-9.03%	+5.57%
Average Drawdown Average peak-to-trough decline	-4.13%	-8.30%	+4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	5.70%	-2.28%

Volatility

KNG vs. FIW - Volatility Comparison

The current volatility for FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) is 3.00%, while First Trust Water ETF (FIW) has a volatility of 4.68%. This indicates that KNG experiences smaller price fluctuations and is considered to be less risky than FIW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KNG	FIW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	4.68%	-1.68%
Volatility (6M) Calculated over the trailing 6-month period	7.59%	11.92%	-4.33%
Volatility (1Y) Calculated over the trailing 1-year period	10.41%	15.78%	-5.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.58%	18.39%	-4.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.15%	19.89%	-2.74%

KNG vs. FIW - Expense Ratio Comparison

KNG has a 0.75% expense ratio, which is higher than FIW's 0.50% expense ratio.

Dividends

KNG vs. FIW - Dividend Comparison

KNG's dividend yield for the trailing twelve months is around 8.45%, more than FIW's 0.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIW First Trust Water ETF	0.78%	0.69%	0.69%	0.68%	0.67%	0.37%	0.56%	0.55%	0.73%	1.13%	0.51%	0.76%
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF	8.45%	8.61%	9.08%	5.91%	4.00%	3.45%	3.62%	4.09%	3.46%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KNG and FIW in my portfolio?

KNG and FIW have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KNG or FIW?

FIW has higher volatility (4.68%) compared to KNG (3.00%). In terms of maximum drawdown, KNG dropped -35.12% vs FIW's -52.75%.

Which ETF is better, KNG or FIW?

On 5-year performance, FIW leads with 5.63% vs 5.39% for KNG. On fees, FIW is cheaper at 0.50% per year. On volatility, KNG has been the lower-risk option at 3.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KNG or FIW?

Over the 5-year period, FIW has performed better with a 5.63% return vs 5.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KNG or FIW?

FIW is cheaper with a 0.50% expense ratio, compared with 0.75% for KNG.

Which ETF pays a higher dividend yield, KNG or FIW?

KNG has the higher dividend yield at 8.45%, compared with 0.78% for FIW.

What is the main difference between KNG and FIW?

KNG is categorized as Dividend, while FIW is Water Equities. KNG tracks Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series, while FIW tracks ISE Clean Edge Water Index. Their fees differ too: 0.75% for KNG and 0.50% for FIW.

Which has better risk-adjusted returns?

KNG currently has the higher Sharpe Ratio (1.01 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.