USA vs. KBWD
USA (Liberty All-Star Equity Fund) is a stock, while KBWD (Invesco KBW High Dividend Yield Financial ETF) is Financials Equities fund tracking the KBW Nasdaq Financial Sector Dividend Yield Index. Over the past 10 years, USA returned 12.13%/yr vs 5.25%/yr for KBWD. A 0.62 correlation means they provide meaningful diversification when combined.
Performance
USA vs. KBWD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, USA achieves a -3.46% return, which is significantly higher than KBWD's -3.74% return. Over the past 10 years, USA has outperformed KBWD with an annualized return of 12.13%, while KBWD has yielded a comparatively lower 5.25% annualized return.
USA
- 1D
- -0.52%
- 1M
- 0.17%
- YTD
- -3.46%
- 6M
- -1.58%
- 1Y
- -4.32%
- 3Y*
- 7.82%
- 5Y*
- 1.42%
- 10Y*
- 12.13%
KBWD
- 1D
- 0.80%
- 1M
- -1.25%
- YTD
- -3.74%
- 6M
- -4.15%
- 1Y
- 3.52%
- 3Y*
- 5.00%
- 5Y*
- 0.34%
- 10Y*
- 5.25%
USA vs. KBWD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USA Liberty All-Star Equity Fund | -3.46% | 0.09% | 20.81% | 23.17% | -25.20% | 33.76% | 12.89% | 39.70% | -5.06% | 34.66% |
KBWD Invesco KBW High Dividend Yield Financial ETF | -3.74% | 5.59% | 4.30% | 20.21% | -19.14% | 31.89% | -15.58% | 20.72% | -8.70% | 12.06% |
Correlation
The correlation between USA and KBWD is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2010 | 0.62 |
The correlation between USA and KBWD shifts across timeframes, from 0.51 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
USA vs. KBWD — Risk / Return Rank
USA
KBWD
USA vs. KBWD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Liberty All-Star Equity Fund (USA) and Invesco KBW High Dividend Yield Financial ETF (KBWD). 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.
| USA | KBWD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.03 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 0.13 | -0.45 |
| Martin ratioReturn relative to average drawdown | -0.76 | 0.32 | -1.08 |
Loading charts...
Drawdowns
USA vs. KBWD - Drawdown Comparison
The maximum USA drawdown since its inception was -69.15%, which is greater than KBWD's maximum drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for USA and KBWD.
Loading charts...
Drawdown Indicators
| USA | KBWD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.15% | -58.63% | -10.52% |
Max Drawdown (1Y)Largest decline over 1 year | -15.28% | -15.05% | -0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -17.69% | -19.65% | +1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -34.05% | -30.74% | -3.31% |
Max Drawdown (10Y)Largest decline over 10 years | -47.07% | -58.63% | +11.56% |
Current DrawdownCurrent decline from peak | -8.65% | -10.58% | +1.93% |
Average DrawdownAverage peak-to-trough decline | -11.52% | -7.41% | -4.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.43% | 6.10% | +0.33% |
Volatility
USA vs. KBWD - Volatility Comparison
The current volatility for Liberty All-Star Equity Fund (USA) is 3.16%, while Invesco KBW High Dividend Yield Financial ETF (KBWD) has a volatility of 4.70%. This indicates that USA experiences smaller price fluctuations and is considered to be less risky than KBWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| USA | KBWD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.16% | 4.70% | -1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 10.42% | 12.36% | -1.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.64% | 15.59% | -1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.26% | 19.89% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.56% | 23.25% | -0.69% |
Dividends
USA vs. KBWD - Dividend Comparison
USA's dividend yield for the trailing twelve months is around 11.85%, less than KBWD's 14.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWD Invesco KBW High Dividend Yield Financial ETF | 14.14% | 12.83% | 12.45% | 11.45% | 11.32% | 7.26% | 9.68% | 8.63% | 9.47% | 8.77% | 8.68% | 8.89% |
USA Liberty All-Star Equity Fund | 11.85% | 10.67% | 10.22% | 9.56% | 12.11% | 9.67% | 9.13% | 9.75% | 12.64% | 8.89% | 9.30% | 9.53% |
Frequently Asked Questions
USA and KBWD have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KBWD has higher volatility (4.70%) compared to USA (3.16%). In terms of maximum drawdown, USA dropped -69.15% vs KBWD's -58.63%.
KBWD currently has the higher Sharpe Ratio (0.13 vs -0.36), 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.
Find the right allocation for USA and KBWD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer