PSR vs. KBWY
PSR (Invesco Active U.S. Real Estate Fund) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both REIT funds from Invesco. PSR is actively managed, while KBWY is passively managed. Over the past 10 years, PSR returned 5.88%/yr vs 1.46%/yr for KBWY. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.
Performance
PSR vs. KBWY - Performance Comparison
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Returns By Period
In the year-to-date period, PSR achieves a 16.36% return, which is significantly lower than KBWY's 22.56% return. Over the past 10 years, PSR has outperformed KBWY with an annualized return of 5.88%, while KBWY has yielded a comparatively lower 1.46% annualized return.
PSR
- 1D
- 1.41%
- 1M
- 1.61%
- YTD
- 16.36%
- 6M
- 16.93%
- 1Y
- 14.68%
- 3Y*
- 11.12%
- 5Y*
- 2.80%
- 10Y*
- 5.88%
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%
PSR vs. KBWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSR Invesco Active U.S. Real Estate Fund | 16.36% | 2.63% | 1.79% | 8.34% | -25.52% | 41.71% | -6.04% | 28.76% | -4.58% | 11.95% |
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% | 0.81% |
Correlation
The correlation between PSR and KBWY 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 | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2010 | 0.77 |
The correlation between PSR and KBWY has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.
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Return for Risk
PSR vs. KBWY — Risk / Return Rank
PSR
KBWY
PSR vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Active U.S. Real Estate Fund (PSR) 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.
| PSR | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.25 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | 2.72 | -0.96 |
| Martin ratioReturn relative to average drawdown | 5.53 | 6.48 | -0.95 |
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Drawdowns
PSR vs. KBWY - Drawdown Comparison
The maximum PSR drawdown since its inception was -42.31%, smaller than the maximum KBWY drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for PSR and KBWY.
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Drawdown Indicators
| PSR | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.31% | -57.68% | +15.37% |
Max Drawdown (1Y)Largest decline over 1 year | -8.33% | -9.24% | +0.91% |
Max Drawdown (3Y)Largest decline over 3 years | -16.58% | -29.93% | +13.35% |
Max Drawdown (5Y)Largest decline over 5 years | -34.81% | -32.29% | -2.52% |
Max Drawdown (10Y)Largest decline over 10 years | -42.31% | -57.68% | +15.37% |
Current DrawdownCurrent decline from peak | -1.92% | -6.64% | +4.72% |
Average DrawdownAverage peak-to-trough decline | -9.31% | -14.15% | +4.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 3.88% | -1.22% |
Volatility
PSR vs. KBWY - Volatility Comparison
Invesco Active U.S. Real Estate Fund (PSR) has a higher volatility of 5.32% compared to Invesco KBW Premium Yield Equity REIT ETF (KBWY) at 4.85%. This indicates that PSR'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.
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Volatility by Period
| PSR | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 4.85% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.46% | 12.16% | -1.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.80% | 16.79% | -2.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.58% | 21.61% | -3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.36% | 27.08% | -6.72% |
PSR vs. KBWY - Expense Ratio Comparison
Both PSR and KBWY have an expense ratio of 0.35%.
Dividends
PSR vs. KBWY - Dividend Comparison
PSR's dividend yield for the trailing twelve months is around 2.54%, 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% |
PSR Invesco Active U.S. Real Estate Fund | 2.54% | 2.56% | 3.06% | 2.93% | 2.95% | 2.12% | 3.09% | 2.55% | 2.64% | 0.14% | 3.60% | 3.20% |
Frequently Asked Questions
PSR and KBWY 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.
PSR has higher volatility (5.32%) compared to KBWY (4.85%). In terms of maximum drawdown, PSR dropped -42.31% vs KBWY's -57.68%.
On 10-year performance, PSR leads with 5.88% vs 1.46% for KBWY. Both ETFs have the same 0.35% expense ratio. On volatility, KBWY has been the lower-risk option at 4.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PSR has performed better with a 5.88% return vs 1.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSR and KBWY have the same expense ratio: 0.35% per year.
KBWY has the higher dividend yield at 8.28%, compared with 2.54% for PSR.
KBWY currently has the higher Sharpe Ratio (1.50 vs 1.07), 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.
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