QABA vs. KBWP

Last updated Jun 24, 2026

QABA (First Trust NASDAQ ABA Community Bank Index Fund) and KBWP (Invesco KBW Property & Casualty Insurance ETF) are both Financials Equities funds - QABA tracks the NASDAQ OMX ABA Community Bank Index while KBWP tracks the KBW Nasdaq Property & Casualty (TR). Both are passively managed. Over the past 10 years, QABA returned 8.33%/yr vs 12.39%/yr for KBWP. A 0.53 correlation means they provide meaningful diversification when combined. QABA charges 0.60%/yr vs 0.35%/yr for KBWP.

Performance

QABA vs. KBWP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ ABA Community Bank Index Fund (QABA) and Invesco KBW Property & Casualty Insurance ETF (KBWP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QABA achieves a 16.85% return, which is significantly higher than KBWP's -1.94% return. Over the past 10 years, QABA has underperformed KBWP with an annualized return of 8.33%, while KBWP has yielded a comparatively higher 12.39% annualized return.

QABA

• 1D: 1.68%
• 1M: 5.99%
• YTD: 16.85%
• 6M: 13.71%
• 1Y: 26.59%
• 3Y*: 22.25%
• 5Y*: 5.53%
• 10Y*: 8.33%

KBWP

• 1D: 2.46%
• 1M: 2.63%
• YTD: -1.94%
• 6M: -2.38%
• 1Y: 2.45%
• 3Y*: 17.19%
• 5Y*: 12.41%
• 10Y*: 12.39%

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

QABA vs. KBWP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QABA First Trust NASDAQ ABA Community Bank Index Fund	16.85%	4.62%	14.49%	-2.18%	-9.01%	34.20%	-10.70%	22.85%	-16.47%	0.75%
KBWP Invesco KBW Property & Casualty Insurance ETF	-1.94%	11.49%	30.45%	7.09%	10.16%	20.61%	-2.05%	28.67%	-2.76%	8.86%

Correlation

The correlation between QABA and KBWP is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Dec 22, 2010	0.53

The correlation between QABA and KBWP shifts across timeframes, from 0.43 (1 year) to 0.59 (10 years), reflecting how their relationship changes across market environments.

QABA vs. KBWP - Sectors Allocation Comparison

Sectors	QABA	KBWP
Financial Services	99.7%	100.0%
Industrials	0.3%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

QABA vs. KBWP — Risk / Return Rank

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

QABA

QABA Risk / Return Rank: 38
QABA Sharpe Ratio Rank: 35
QABA Sortino Ratio Rank: 36
QABA Omega Ratio Rank: 36
QABA Calmar Ratio Rank: 46
QABA Martin Ratio Rank: 37

KBWP

KBWP Risk / Return Rank: 11
KBWP Sharpe Ratio Rank: 10
KBWP Sortino Ratio Rank: 10
KBWP Omega Ratio Rank: 10
KBWP Calmar Ratio Rank: 11
KBWP Martin Ratio Rank: 11

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.

QABA vs. KBWP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ ABA Community Bank Index Fund (QABA) and Invesco KBW Property & Casualty Insurance ETF (KBWP). 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.

	QABA	KBWP	Difference
Sharpe ratio: Return per unit of total volatility	1.19	0.15	+1.04
Sortino ratio: Return per unit of downside risk	1.75	0.32	+1.43
Omega ratio: Gain probability vs. loss probability	1.23	1.04	+0.19
Calmar ratio: Return relative to maximum drawdown	2.14	0.26	+1.88
Martin ratio: Return relative to average drawdown	5.34	0.56	+4.78

QABA vs. KBWP - Sharpe Ratio Comparison

The current QABA Sharpe Ratio is 1.19, which is higher than the KBWP Sharpe Ratio of 0.15. The chart below compares the historical Sharpe Ratios of QABA and KBWP, 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

QABA vs. KBWP - Drawdown Comparison

The maximum QABA drawdown since its inception was -49.30%, which is greater than KBWP's maximum drawdown of -39.76%. Use the drawdown chart below to compare losses from any high point for QABA and KBWP.

Drawdown Indicators

	QABA	KBWP	Difference
Max Drawdown Largest peak-to-trough decline	-49.30%	-39.76%	-9.54%
Max Drawdown (1Y) Largest decline over 1 year	-12.49%	-9.56%	-2.93%
Max Drawdown (3Y) Largest decline over 3 years	-25.82%	-12.29%	-13.53%
Max Drawdown (5Y) Largest decline over 5 years	-42.93%	-17.00%	-25.93%
Max Drawdown (10Y) Largest decline over 10 years	-49.30%	-39.76%	-9.54%
Current Drawdown Current decline from peak	0.00%	-2.75%	+2.75%
Average Drawdown Average peak-to-trough decline	-11.40%	-4.37%	-7.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.99%	4.36%	+0.63%

Volatility

QABA vs. KBWP - Volatility Comparison

First Trust NASDAQ ABA Community Bank Index Fund (QABA) and Invesco KBW Property & Casualty Insurance ETF (KBWP) have volatilities of 6.08% and 5.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QABA	KBWP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.08%	5.82%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	15.48%	12.07%	+3.41%
Volatility (1Y) Calculated over the trailing 1-year period	22.55%	16.60%	+5.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.39%	18.54%	+7.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.64%	20.73%	+7.91%

QABA vs. KBWP - Expense Ratio Comparison

QABA has a 0.60% expense ratio, which is higher than KBWP's 0.35% expense ratio.

Dividends

QABA vs. KBWP - Dividend Comparison

QABA's dividend yield for the trailing twelve months is around 2.22%, more than KBWP's 2.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KBWP Invesco KBW Property & Casualty Insurance ETF	2.00%	1.58%	1.64%	1.68%	1.99%	3.02%	1.93%	1.99%	2.11%	1.90%	2.14%	1.35%
QABA First Trust NASDAQ ABA Community Bank Index Fund	2.22%	2.52%	2.37%	2.71%	2.10%	1.68%	2.55%	1.95%	1.90%	1.42%	1.13%	1.39%

Frequently Asked Questions

Can I hold both QABA and KBWP in my portfolio?

QABA and KBWP have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QABA or KBWP?

QABA has higher volatility (6.08%) compared to KBWP (5.82%). In terms of maximum drawdown, QABA dropped -49.30% vs KBWP's -39.76%.

Which ETF is better, QABA or KBWP?

On 10-year performance, KBWP leads with 12.39% vs 8.33% for QABA. On fees, KBWP is cheaper at 0.35% per year. On volatility, KBWP has been the lower-risk option at 5.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QABA or KBWP?

Over the 10-year period, KBWP has performed better with a 12.39% return vs 8.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QABA or KBWP?

KBWP is cheaper with a 0.35% expense ratio, compared with 0.60% for QABA.

Which ETF pays a higher dividend yield, QABA or KBWP?

QABA has the higher dividend yield at 2.22%, compared with 2.00% for KBWP.

What is the main difference between QABA and KBWP?

QABA tracks NASDAQ OMX ABA Community Bank Index, while KBWP tracks KBW Nasdaq Property & Casualty (TR). They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.60% for QABA and 0.35% for KBWP.

Which has better risk-adjusted returns?

QABA currently has the higher Sharpe Ratio (1.19 vs 0.15), 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.