PGX vs. KBWD
Compare and contrast key facts about Invesco Preferred ETF (PGX) and Invesco KBW High Dividend Yield Financial ETF (KBWD).
PGX and KBWD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGX is a passively managed fund by Invesco that tracks the performance of the BofA Merrill Lynch Core Fixed Rate Preferred Securities Index. It was launched on Jan 31, 2008. KBWD is a passively managed fund by Invesco that tracks the performance of the KBW Nasdaq Financial Sector Dividend Yield Index. It was launched on Dec 2, 2010. Both PGX and KBWD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PGX or KBWD.
Key characteristics
| PGX | KBWD | |
|---|---|---|
| YTD Return | 10.27% | 6.18% |
| 1Y Return | 15.56% | 16.58% |
| 3Y Return (Ann) | -1.21% | -0.12% |
| 5Y Return (Ann) | 1.31% | 3.58% |
| 10Y Return (Ann) | 3.72% | 4.28% |
| Sharpe Ratio | 1.84 | 1.19 |
| Sortino Ratio | 2.65 | 1.66 |
| Omega Ratio | 1.33 | 1.21 |
| Calmar Ratio | 0.95 | 1.28 |
| Martin Ratio | 8.96 | 4.93 |
| Ulcer Index | 1.96% | 4.20% |
| Daily Std Dev | 9.54% | 17.41% |
| Max Drawdown | -66.43% | -58.63% |
| Current Drawdown | -5.09% | -2.60% |
Correlation
The correlation between PGX and KBWD is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PGX vs. KBWD - Performance Comparison
In the year-to-date period, PGX achieves a 10.27% return, which is significantly higher than KBWD's 6.18% return. Over the past 10 years, PGX has underperformed KBWD with an annualized return of 3.72%, while KBWD has yielded a comparatively higher 4.28% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PGX vs. KBWD - Expense Ratio Comparison
PGX has a 0.52% expense ratio, which is lower than KBWD's 1.24% expense ratio.
Risk-Adjusted Performance
PGX vs. KBWD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Preferred ETF (PGX) 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.
Dividends
PGX vs. KBWD - Dividend Comparison
PGX's dividend yield for the trailing twelve months is around 5.83%, less than KBWD's 11.96% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGX Invesco Preferred ETF | 5.83% | 6.42% | 6.29% | 4.82% | 4.89% | 5.30% | 6.08% | 5.66% | 6.02% | 5.84% | 5.98% | 6.78% |
KBWD Invesco KBW High Dividend Yield Financial ETF | 11.96% | 11.46% | 11.31% | 7.27% | 9.66% | 8.64% | 9.47% | 8.78% | 8.68% | 8.89% | 8.31% | 7.68% |
Drawdowns
PGX vs. KBWD - Drawdown Comparison
The maximum PGX drawdown since its inception was -66.43%, which is greater than KBWD's maximum drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for PGX and KBWD. For additional features, visit the drawdowns tool.
Volatility
PGX vs. KBWD - Volatility Comparison
The current volatility for Invesco Preferred ETF (PGX) is 3.43%, while Invesco KBW High Dividend Yield Financial ETF (KBWD) has a volatility of 5.10%. This indicates that PGX 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.