XSHD vs. KBWY
XSHD (Invesco S&P SmallCap High Dividend Low Volatility ETF) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both exchange-traded funds - XSHD is a Volatility Hedged Equity fund tracking the S&P SmallCap 600 Low Volatility High Dividend Index, while KBWY is a REIT fund tracking the KBW Premium Yield Equity REIT Index. Both are passively managed. Over the past 5 years, XSHD returned -5.26%/yr vs 2.15%/yr for KBWY. Their correlation of 0.80 suggests significant overlap in exposure. XSHD charges 0.30%/yr vs 0.35%/yr for KBWY.
Performance
XSHD vs. KBWY - Performance Comparison
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Returns By Period
In the year-to-date period, XSHD achieves a 6.99% return, which is significantly lower than KBWY's 17.06% return.
XSHD
- 1D
- -1.25%
- 1M
- -1.41%
- YTD
- 6.99%
- 6M
- 6.10%
- 1Y
- 6.80%
- 3Y*
- 1.31%
- 5Y*
- -5.26%
- 10Y*
- —
KBWY
- 1D
- -0.81%
- 1M
- 5.63%
- YTD
- 17.06%
- 6M
- 17.05%
- 1Y
- 22.51%
- 3Y*
- 9.10%
- 5Y*
- 2.15%
- 10Y*
- 1.18%
XSHD vs. KBWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF | 6.99% | -6.41% | -5.25% | 3.00% | -19.48% | 18.31% | -13.55% | 17.91% | -7.86% | 1.52% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 17.06% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -18.20% | 0.81% |
Correlation
The correlation between XSHD and KBWY is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2016 | 0.80 |
The correlation between XSHD and KBWY has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.
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Return for Risk
XSHD vs. KBWY — Risk / Return Rank
XSHD
KBWY
XSHD vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD) 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.
| XSHD | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.23 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 2.45 | -1.80 |
| Martin ratioReturn relative to average drawdown | 1.75 | 5.82 | -4.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XSHD | KBWY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 1.38 | -0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | 0.10 | -0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.04 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.20 | -0.23 |
Drawdowns
XSHD vs. KBWY - Drawdown Comparison
The maximum XSHD drawdown since its inception was -49.53%, smaller than the maximum KBWY drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for XSHD and KBWY.
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Drawdown Indicators
| XSHD | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.53% | -57.68% | +8.15% |
Max Drawdown (1Y)Largest decline over 1 year | -10.51% | -9.24% | -1.27% |
Max Drawdown (3Y)Largest decline over 3 years | -20.77% | -29.93% | +9.16% |
Max Drawdown (5Y)Largest decline over 5 years | -36.84% | -32.29% | -4.55% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.68% | — |
Current DrawdownCurrent decline from peak | -25.49% | -10.82% | -14.67% |
Average DrawdownAverage peak-to-trough decline | -16.36% | -14.18% | -2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 3.88% | +0.01% |
Volatility
XSHD vs. KBWY - Volatility Comparison
The current volatility for Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD) is 3.52%, while Invesco KBW Premium Yield Equity REIT ETF (KBWY) has a volatility of 4.73%. This indicates that XSHD experiences smaller price fluctuations and is considered to be less risky 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
| XSHD | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.52% | 4.73% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 9.77% | 11.61% | -1.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.77% | 16.44% | -1.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.88% | 21.61% | -2.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.24% | 27.05% | -4.81% |
XSHD vs. KBWY - Expense Ratio Comparison
XSHD has a 0.30% expense ratio, which is lower than KBWY's 0.35% expense ratio.
Dividends
XSHD vs. KBWY - Dividend Comparison
XSHD's dividend yield for the trailing twelve months is around 5.40%, less than KBWY's 8.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.64% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF | 5.40% | 6.45% | 7.25% | 7.62% | 6.77% | 3.86% | 5.55% | 4.88% | 5.49% | 4.11% | 0.41% | 0.00% |
Frequently Asked Questions
XSHD and KBWY have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KBWY has higher volatility (4.73%) compared to XSHD (3.52%). In terms of maximum drawdown, XSHD dropped -49.53% vs KBWY's -57.68%.
On 5-year performance, KBWY leads with 2.15% vs -5.26% for XSHD. On fees, XSHD is cheaper at 0.30% per year. On volatility, XSHD has been the lower-risk option at 3.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KBWY has performed better with a 2.15% return vs -5.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSHD is cheaper with a 0.30% expense ratio, compared with 0.35% for KBWY.
KBWY has the higher dividend yield at 8.64%, compared with 5.40% for XSHD.
XSHD is categorized as Volatility Hedged Equity, while KBWY is REIT. XSHD tracks S&P SmallCap 600 Low Volatility High Dividend Index, while KBWY tracks KBW Premium Yield Equity REIT Index. Their fees differ too: 0.30% for XSHD and 0.35% for KBWY.
KBWY currently has the higher Sharpe Ratio (1.38 vs 0.46), 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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