PSP vs. KCE
Compare and contrast key facts about Invesco Global Listed Private Equity ETF (PSP) and SPDR S&P Capital Markets ETF (KCE).
PSP and KCE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PSP is a passively managed fund by Invesco that tracks the performance of the Red Rocks Global Listed Private Equity Index. It was launched on Oct 24, 2006. KCE is a passively managed fund by State Street that tracks the performance of the S&P Capital Markets Select Industry Index. It was launched on Nov 8, 2005. Both PSP and KCE 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: PSP or KCE.
Performance
PSP vs. KCE - Performance Comparison
Returns By Period
In the year-to-date period, PSP achieves a 18.39% return, which is significantly lower than KCE's 41.88% return. Over the past 10 years, PSP has underperformed KCE with an annualized return of 8.73%, while KCE has yielded a comparatively higher 13.81% annualized return.
PSP
18.39%
0.31%
10.53%
38.52%
9.30%
8.73%
KCE
41.88%
6.51%
27.62%
65.43%
22.53%
13.81%
Key characteristics
| PSP | KCE | |
|---|---|---|
| Sharpe Ratio | 2.09 | 3.59 |
| Sortino Ratio | 2.75 | 4.73 |
| Omega Ratio | 1.35 | 1.63 |
| Calmar Ratio | 1.29 | 3.92 |
| Martin Ratio | 13.88 | 27.57 |
| Ulcer Index | 2.70% | 2.33% |
| Daily Std Dev | 17.91% | 17.90% |
| Max Drawdown | -85.40% | -74.00% |
| Current Drawdown | -3.30% | -2.07% |
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PSP vs. KCE - Expense Ratio Comparison
PSP has a 1.44% expense ratio, which is higher than KCE's 0.35% expense ratio.
Correlation
The correlation between PSP and KCE is 0.79, 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.
Risk-Adjusted Performance
PSP vs. KCE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) and SPDR S&P Capital Markets ETF (KCE). 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
PSP vs. KCE - Dividend Comparison
PSP's dividend yield for the trailing twelve months is around 7.75%, more than KCE's 1.57% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSP Invesco Global Listed Private Equity ETF | 7.75% | 3.96% | 2.87% | 10.33% | 4.66% | 5.86% | 6.80% | 10.18% | 4.11% | 6.23% | 4.94% | 13.48% |
KCE SPDR S&P Capital Markets ETF | 1.57% | 1.82% | 2.42% | 1.53% | 2.20% | 2.32% | 2.67% | 1.95% | 2.30% | 2.43% | 1.59% | 1.73% |
Drawdowns
PSP vs. KCE - Drawdown Comparison
The maximum PSP drawdown since its inception was -85.40%, which is greater than KCE's maximum drawdown of -74.00%. Use the drawdown chart below to compare losses from any high point for PSP and KCE. For additional features, visit the drawdowns tool.
Volatility
PSP vs. KCE - Volatility Comparison
The current volatility for Invesco Global Listed Private Equity ETF (PSP) is 5.83%, while SPDR S&P Capital Markets ETF (KCE) has a volatility of 8.73%. This indicates that PSP experiences smaller price fluctuations and is considered to be less risky than KCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.