PK vs. KBWY

Last updated Jun 24, 2026

PK (Park Hotels & Resorts Inc.) is a stock, while KBWY (Invesco KBW Premium Yield Equity REIT ETF) is REIT fund tracking the KBW Nasdaq Premium Yield Equity REIT Index. Over the past 5 years, PK returned -0.55%/yr vs 3.00%/yr for KBWY. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

PK vs. KBWY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Park Hotels & Resorts Inc. (PK) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PK achieves a 41.30% return, which is significantly higher than KBWY's 22.56% return.

PK

• 1D: -0.96%
• 1M: 25.37%
• YTD: 41.30%
• 6M: 41.53%
• 1Y: 54.25%
• 3Y*: 18.03%
• 5Y*: -0.55%
• 10Y*: —

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%

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

PK vs. KBWY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PK Park Hotels & Resorts Inc.	41.30%	-18.45%	0.98%	49.45%	-36.03%	10.09%	-30.13%	6.86%	1.69%	12.59%
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%	-0.01%

Correlation

The correlation between PK and KBWY is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.63

The correlation between PK and KBWY has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

Return for Risk

PK vs. KBWY — Risk / Return Rank

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

PK

PK Risk / Return Rank: 84
PK Sharpe Ratio Rank: 85
PK Sortino Ratio Rank: 85
PK Omega Ratio Rank: 79
PK Calmar Ratio Rank: 85
PK Martin Ratio Rank: 85

KBWY

KBWY Risk / Return Rank: 46
KBWY Sharpe Ratio Rank: 45
KBWY Sortino Ratio Rank: 45
KBWY Omega Ratio Rank: 40
KBWY Calmar Ratio Rank: 58
KBWY Martin Ratio Rank: 42

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.

PK vs. KBWY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Park Hotels & Resorts Inc. (PK) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). 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.

	PK	KBWY	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.50	+0.22
Sortino ratio: Return per unit of downside risk	2.65	2.17	+0.48
Omega ratio: Gain probability vs. loss probability	1.28	1.25	+0.03
Calmar ratio: Return relative to maximum drawdown	3.19	2.72	+0.47
Martin ratio: Return relative to average drawdown	8.15	6.48	+1.68

PK vs. KBWY - Sharpe Ratio Comparison

The current PK Sharpe Ratio is 1.72, which is comparable to the KBWY Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of PK and KBWY, 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

PK vs. KBWY - Drawdown Comparison

The maximum PK drawdown since its inception was -84.22%, which is greater than KBWY's maximum drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for PK and KBWY.

Drawdown Indicators

	PK	KBWY	Difference
Max Drawdown Largest peak-to-trough decline	-84.22%	-57.68%	-26.54%
Max Drawdown (1Y) Largest decline over 1 year	-17.08%	-9.24%	-7.84%
Max Drawdown (3Y) Largest decline over 3 years	-44.83%	-29.93%	-14.90%
Max Drawdown (5Y) Largest decline over 5 years	-48.41%	-32.29%	-16.12%
Max Drawdown (10Y) Largest decline over 10 years	—	-57.68%	—
Current Drawdown Current decline from peak	-29.01%	-6.64%	-22.37%
Average Drawdown Average peak-to-trough decline	-34.05%	-14.15%	-19.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.67%	3.88%	+2.79%

Volatility

PK vs. KBWY - Volatility Comparison

Park Hotels & Resorts Inc. (PK) has a higher volatility of 9.34% compared to Invesco KBW Premium Yield Equity REIT ETF (KBWY) at 4.85%. This indicates that PK's price experiences larger fluctuations and is considered to be riskier than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PK	KBWY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.34%	4.85%	+4.49%
Volatility (6M) Calculated over the trailing 6-month period	22.49%	12.16%	+10.33%
Volatility (1Y) Calculated over the trailing 1-year period	31.68%	16.79%	+14.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.49%	21.61%	+15.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.01%	27.08%	+18.93%

Dividends

PK vs. KBWY - Dividend Comparison

PK's dividend yield for the trailing twelve months is around 6.93%, less than KBWY's 8.28% 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%
PK Park Hotels & Resorts Inc.	6.93%	9.56%	9.95%	14.05%	2.37%	0.00%	2.62%	7.34%	12.86%	16.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PK and KBWY in my portfolio?

PK and KBWY have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PK or KBWY?

PK has higher volatility (9.34%) compared to KBWY (4.85%). In terms of maximum drawdown, PK dropped -84.22% vs KBWY's -57.68%.

Which has better risk-adjusted returns?

PK currently has the higher Sharpe Ratio (1.72 vs 1.50), 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.