PKB vs. XHB

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Dynamic Building & Construction ETF (PKB) and SPDR S&P Homebuilders ETF (XHB).

PKB and XHB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PKB is a passively managed fund by Invesco that tracks the performance of the Dynamic Building & Construction Intellidex Index. It was launched on Oct 26, 2005. XHB is a passively managed fund by State Street that tracks the performance of the S&P Homebuilders Select Industry Index. It was launched on Jan 31, 2006. Both PKB and XHB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PKB vs. XHB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Building & Construction ETF (PKB) and SPDR S&P Homebuilders ETF (XHB). The values are adjusted to include any dividend payments, if applicable.

PKB vs. XHB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PKB Invesco Dynamic Building & Construction ETF	5.41%	22.47%	20.24%	55.29%	-24.88%	32.96%	24.49%	40.15%	-31.11%	24.67%
XHB SPDR S&P Homebuilders ETF	-3.97%	-0.69%	9.87%	60.10%	-28.93%	49.70%	27.97%	41.30%	-25.73%	31.80%

Returns By Period

In the year-to-date period, PKB achieves a 5.41% return, which is significantly higher than XHB's -3.97% return. Over the past 10 years, PKB has outperformed XHB with an annualized return of 14.91%, while XHB has yielded a comparatively lower 12.17% annualized return.

PKB

• 1D: 3.55%
• 1M: -10.19%
• YTD: 5.41%
• 6M: 2.13%
• 1Y: 45.16%
• 3Y*: 28.90%
• 5Y*: 14.83%
• 10Y*: 14.91%

XHB

• 1D: 3.31%
• 1M: -14.28%
• YTD: -3.97%
• 6M: -10.61%
• 1Y: 2.52%
• 3Y*: 14.20%
• 5Y*: 7.48%
• 10Y*: 12.17%

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

PKB vs. XHB - Expense Ratio Comparison

PKB has a 0.60% expense ratio, which is higher than XHB's 0.35% expense ratio.

PKB

Invesco Dynamic Building & Construction ETF

XHB

SPDR S&P Homebuilders ETF

Return for Risk

PKB vs. XHB — Risk / Return Rank

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

PKB

PKB Risk / Return Rank: 87
PKB Sharpe Ratio Rank: 87
PKB Sortino Ratio Rank: 90
PKB Omega Ratio Rank: 82
PKB Calmar Ratio Rank: 90
PKB Martin Ratio Rank: 88

XHB

XHB Risk / Return Rank: 16
XHB Sharpe Ratio Rank: 15
XHB Sortino Ratio Rank: 17
XHB Omega Ratio Rank: 15
XHB Calmar Ratio Rank: 16
XHB Martin Ratio Rank: 16

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.

PKB vs. XHB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Building & Construction ETF (PKB) and SPDR S&P Homebuilders ETF (XHB). 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.

	PKB	XHB	Difference
Sharpe ratio Return per unit of total volatility	1.77	0.09	+1.68
Sortino ratio Return per unit of downside risk	2.53	0.36	+2.17
Omega ratio Gain probability vs. loss probability	1.31	1.04	+0.27
Calmar ratio Return relative to maximum drawdown	2.94	0.16	+2.78
Martin ratio Return relative to average drawdown	10.52	0.40	+10.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PKB vs. XHB - Sharpe Ratio Comparison

The current PKB Sharpe Ratio is 1.77, which is higher than the XHB Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of PKB and XHB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PKB	XHB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	0.09	+1.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.27	+0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.45	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.16	+0.21

Correlation

The correlation between PKB and XHB is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PKB vs. XHB - Dividend Comparison

PKB's dividend yield for the trailing twelve months is around 0.15%, less than XHB's 0.65% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PKB Invesco Dynamic Building & Construction ETF	0.15%	0.14%	0.23%	0.33%	0.43%	0.25%	0.30%	0.37%	0.54%	0.17%	0.31%	0.11%
XHB SPDR S&P Homebuilders ETF	0.65%	0.78%	0.59%	0.77%	1.06%	0.51%	0.73%	0.89%	1.25%	0.72%	0.67%	0.50%

Drawdowns

PKB vs. XHB - Drawdown Comparison

The maximum PKB drawdown since its inception was -65.21%, smaller than the maximum XHB drawdown of -81.61%. Use the drawdown chart below to compare losses from any high point for PKB and XHB.

Drawdown Indicators

	PKB	XHB	Difference
Max Drawdown Largest peak-to-trough decline	-65.21%	-81.61%	+16.40%
Max Drawdown (1Y) Largest decline over 1 year	-15.41%	-21.14%	+5.73%
Max Drawdown (5Y) Largest decline over 5 years	-34.85%	-39.46%	+4.61%
Max Drawdown (10Y) Largest decline over 10 years	-52.29%	-49.57%	-2.72%
Current Drawdown Current decline from peak	-11.67%	-20.48%	+8.81%
Average Drawdown Average peak-to-trough decline	-15.86%	-27.69%	+11.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.31%	8.48%	-4.17%

Volatility

PKB vs. XHB - Volatility Comparison

Invesco Dynamic Building & Construction ETF (PKB) has a higher volatility of 9.07% compared to SPDR S&P Homebuilders ETF (XHB) at 8.26%. This indicates that PKB's price experiences larger fluctuations and is considered to be riskier than XHB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PKB	XHB	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.07%	8.26%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	17.21%	18.20%	-0.99%
Volatility (1Y) Calculated over the trailing 1-year period	25.66%	29.22%	-3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.54%	27.40%	-1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.09%	27.18%	-0.09%