KBWD vs KBWY: Performance, Holdings, Fees & Risk
KBWD and KBWY are ETFs, but they can differ materially in exposure, yield, fees and risk. KBWD is Invesco KBW High Dividend Yield Financial ETF, while KBWY is Invesco KBW Premium Yield Equity REIT ETF. KBWD is broader by holdings count, with 40 positions versus 31 for KBWY. KBWY is more concentrated at the top, based on top-10 holdings weight. Current AlgovestIQ evidence has KBWD ahead on AIQ Score, 52 versus 46.
What is the main difference between KBWD and KBWY?
KBWD and KBWY have little in common: 0% of their weight is in the same securities.
| Metric | KBWD | KBWY |
|---|---|---|
| Fund | ||
| Expense ratio | 5.39% | 0.35% |
| Holdings | 40 | 31 |
| Top-10 concentration | 37.1% | 46.5% |
| Distribution yieldTrailing 12 months | 16.6% | 9.08% |
| Average volume | 498,131 | 207,889 |
| Performance | ||
| 1Y return | -22.7% | +5.3% |
| YTD return | -23.3% | +5.2% |
| 5Y annualized returnTotal return, distributions reinvested | -2.8% | +0.2% |
| Risk | ||
| Annualized volatility | 17.5% | 16.7% |
| Max drawdown (1Y) | -31.5% | -17.4% |
| Max drawdown (5Y)Total return, distributions reinvested | -30.7% | -32.3% |
| Beta | 0.67 | 0.38 |
| Sharpe ratio | -1.66 | 0.15 |
| Sortino ratio | -2.48 | 0.24 |
| AlgovestIQ | ||
| AIQ Score | 52/100 | 46/100 |
| AIQ Edge Score | 4/10 | 3/10 |
| Momentum | 25/100 | 35/100 |
| Risk Resilience | 64/100 | 74/100 |
AlgovestIQ AIQ Comparison
Invesco KBW High Dividend Yield Financial ETF vs Invesco KBW Premium Yield Equity REIT ETF
KBWD leads
KBWD leads by 6 AIQ points, primarily on Value and Quality, but the lead has narrowed from 9 points over 30 sessions.
Fragile: 2 of 4 evidence groups support KBWD, its lead is narrowing, and its current signal state is conflicted.
Invesco KBW High Dividend Yield Financial ETF
Invesco KBW Premium Yield Equity REIT ETF
The Algovestiq AIQ Score currently favors KBWD over KBWY, 52 versus 46 as of Oct 21, 2026. KBWD's advantage is driven primarily by stronger value and quality, while KBWY holds the stronger momentum profile. KBWD also shows the weaker technical structure relative to its 50-day moving average. 2 of 4 covered evidence groups favor KBWD today, and the comparison is rated Fragile on stability: only 2 of 4 covered evidence groups agree. KBWD lead: Weakening — the AIQ differential moved from 9 to 6 points over 30 sessions.
Compare Invesco KBW High Dividend Yield Financial ETF and Invesco KBW Premium Yield Equity REIT ETF across performance, expense ratio, dividend yield, drawdown, volatility and the Algovestiq AIQ Score.
KBWD vs KBWY: which fits what
Each row is settled by a single measure. Where the gap is too small to matter it reads Similar, and no row decides the comparison as a whole.
| If you want | KBWD | KBWY | Fits |
|---|---|---|---|
| Lower costExpense ratio | 5.39% | 0.35% | KBWY |
| Broader diversificationNumber of holdings | 40 | 31 | KBWD |
| Lower concentrationWeight of the 10 largest holdings | 37.1% | 46.5% | KBWD |
| Higher incomeTrailing 12-month distribution yield | 16.6% | 9.08% | KBWD |
| Smaller drawdownsMax drawdown, 5 years | -30.7% | -32.3% | Similar |
| Lower volatilityAnnualized volatility, 1 year | 17.5% | 16.7% | Similar |
Similar means the gap is within 0.01 percentage points of expense ratio, 25% more holdings, 3 points of top-10 weight, 0.2 points of yield, 2 points of drawdown or 1 point of volatility. Past drawdowns and volatility describe the funds’ history, not their future.
Performance over time
Total return with distributions reinvested, from daily closes for both ETFs.
Total return comparison
Growth of $10,000, distributions reinvested
Split-adjusted closes; each distribution is reinvested at the close on its ex-dividend date. Taxes and trading costs are not modeled.
Compare KBWD and KBWY against another ticker
Open a multi-ticker workspace without changing this focused pair page.
AIQ Factor Divergence
Where the two separate, on the four dimensions behind the AIQ Score. Bars read outward from a shared zero: further from the centre is a wider gap.
- Value73 vs 46KBWD +27
- Momentum25 vs 35KBWY +10
- Risk Resilience64 vs 74KBWY +10
- Quality46 vs 42KBWD +4
2 of 4 evidence groups favor KBWD. KBWD’s edge is concentrated in value and quality; KBWY keeps a meaningful momentum edge.
What changed since the last close
Latest scored session 2026-10-20, compared against the prior scored session 2026-10-19.
Largest factor move: Value +1
No signal started or stopped since the prior session; its 7 active signals are unchanged.
Largest factor move: Momentum +10
New signals
- MACD Bullish Crossover — bullish, momentum, short horizon
KBWD's lead narrowed by 1 AIQ point in the latest session.
Deeper signal detail for each name lives on its own signals page — KBWD and KBWY both carry a full feed there.
The central trade-off
KBWD (Invesco KBW High Dividend Yield Financial ETF): the stronger current systematic profile, led by value and quality.
KBWY (Invesco KBW Premium Yield Equity REIT ETF): the counter-case, on momentum, risk resilience, technicals.
Fund facts, side by side
Two funds tracking overlapping universes are separated by cost and risk far more than by holdings. Those lead here.
| Measure | KBWD | KBWY | Why it matters |
|---|---|---|---|
| Expense ratio | 5.39% | 0.35% | Lower is better — it compounds against you every year you hold. |
| Holdings | 40 | 31 | More holdings means broader diversification, not better returns. |
| Average volume | 498,131 | 207,889 | Liquidity — matters most if you trade size. |
| Annualized volatility | 17.5% | 16.7% | Lower is a steadier ride for the same exposure. |
| Max drawdown (1Y) | -31.5% | -17.4% | The worst peak-to-trough loss over the past year. |
| Sharpe ratio | -1.66 | 0.15 | Return per unit of risk. Higher is better. |
| Beta | 0.67 | 0.38 | Sensitivity to the broad market. Neither direction is better — it depends on the role in your portfolio. |
How much of the same holdings they own
KBWD and KBWY share 0% of their weighted exposure across 0 common holdings.
38 holdings are unique to KBWD, and 28 holdings are unique to KBWY. Owning both is genuinely additive — most of the capital sits in different securities.
KBWY is the more concentrated of the two: its ten largest positions are 46.47% of the fund, against 37.07% for KBWD (31 holdings vs 40). Concentration cuts both ways — it is what drives outperformance when the top names work, and what makes the drawdown deeper when they do not.
What KBWD adds that KBWY doesn’t
| Holding | KBWD | KBWY |
|---|---|---|
| FSKFS KKR Capital Corp | 4.2% | Not held |
| GSBDGoldman Sachs BDC Inc | 4.03% | Not held |
| ORCOrchid Island Capital Inc | 4% | Not held |
| IVRInvesco Mortgage Capital Inc | 3.82% | Not held |
| DXDynex Capital Inc | 3.7% | Not held |
| ARRARMOUR Residential REIT Inc | 3.67% | Not held |
What KBWY adds that KBWD doesn’t
| Holding | KBWY | KBWD |
|---|---|---|
| IIPRInnovative Industrial Properties Inc | 6.29% | Not held |
| MRPMillrose Properties Inc | 5.66% | Not held |
| PKPark Hotels & Resorts Inc | 5.21% | Not held |
| GOODGladstone Commercial Corp | 4.83% | Not held |
| CHCTCommunity Healthcare Trust Inc | 4.74% | Not held |
| HIWHighwoods Properties Inc | 4.47% | Not held |
Each list is a fund’s largest positions by weight that the other fund does not hold, or holds at less than half the weight.
KBWD vs KBWY: five-year payout growth
KBWD grew its split-adjusted payout faster over 2020-2025 — 1.85% a year against KBWY's -6.75%. KBWD: The 2020 payout was 15.6% below 2019, so the growth rate measures a recovery from a weak starting year.
| Dividend metric | KBWD | KBWY |
|---|---|---|
| 5Y payout CAGR | 1.85% | -6.75% |
| 2020 annual payout | $1.600 | $2.143 |
| 2025 annual payout | $1.754 | $1.511 |
| Calendar-year declines | 2 | 3 |
| Peer rank | #29 of 33 | #132 of 138 |
Split-adjusted annual distributions, 2020–2025. Research as of Sep 19, 2026. Yield and expense ratio above are current values, not part of this window.
AIQ Agreement Matrix
2 of 4 covered evidence groups favor KBWD. A wide gap backed by one group is a weaker case than a narrow gap backed by five.
| Evidence group | Favors | Reading |
|---|---|---|
| AIQ Score | KBWD | 52 vs 46 |
| Fundamentals | Not covered | Not covered |
| Valuation | KBWD | Value 73 vs 46 |
| Technicals | KBWY | Price vs 50-day -12.9% vs -7.4%; vs 200-day -18.8% vs -4.8% |
| Risk Resilience | KBWY | Risk Resilience 64 vs 74 |
| Analyst expectations | Not covered | Not covered |
✓ agrees with the overall verdict · ✕ points the other way. Groups marked “not covered” lack data on one or both of KBWD and KBWY and are excluded from the count.
AIQ Decision Stability
The conclusion is sensitive to small changes. Treat the lead as provisional and watch the flip conditions below.
- The AIQ gap is moderate at 6 points.
- Only 2 of 4 covered evidence groups agree. (argues the conclusion is provisional)
- The leader's advantage has been narrowing. (argues the conclusion is provisional)
- The lead has been steady session to session. (supports the conclusion holding)
- The leader is throwing conflicting signals. (argues the conclusion is provisional)
- Signal direction runs against the verdict: the leader is net-bearish while the laggard is net-bullish. (argues the conclusion is provisional)
Stability combines the score gap, how broadly the evidence agrees, how steady the lead has been across daily snapshots, the current signal state on both names, and analyst dispersion on KBWD.
How the comparison changed
41 daily snapshots · Sep 8 – Oct 20KBWD lead: Weakening — the AIQ differential moved from 9 to 6 points over 30 sessions.
- Today
- KBWD +6
- 52 vs 46
- 7 sessions ago
- KBWD +7
- 52 vs 45
- 30 sessions ago
- KBWD +9
- 52 vs 43
- 90 sessions ago
- Not covered
The lead has not changed hands in this window.
AIQ Signal Divergence
Only the signals that bear on the head-to-head. A conflicted name is carrying bullish and bearish rules at the same time — the technical evidence is not pointing one way.
1 bullish / 5 bearish / 1 neutral, conflicted
Only KBWD
- Death Cross Active — bearish, trend, long horizon (7.86%)
- Keltner Channel Breakdown — bearish, volatility, short horizon
- RSI Oversold - Potential Bounce — bullish, momentum, short horizon
- 52-Week Low Proximity — bearish, risk, long horizon (0.4%)
- Downtrend Structure Active — bearish, trend, long horizon
- MACD Bearish Crossover — bearish, momentum, short horizon
2 bullish / 0 bearish / 1 neutral
Only KBWY
- Golden Cross Active — bullish, trend, long horizon (1.28%)
- MACD Bullish Crossover — bullish, momentum, short horizon
Both carry 1 more signal that do not separate them: Bollinger Band Squeeze.
KBWD leads the comparison while carrying a conflicted signal state, which is one reason the stability rating is not higher.
Price vs model alignment
Whether the latest session's price move confirms what the model did over the same session, or contradicts it.
Price is down while the AIQ Score moved up 1 points over the same session — price and model disagree (price -0.39%, AIQ +1 points).
Price is down while the AIQ Score moved up 2 points over the same session — price and model disagree (price -1.41%, AIQ +2 points).
What would flip this result
A state, not a forecast. These are the specific, observable changes that would reverse the verdict — not a price prediction.
- 1KBWY closes the Value gap — currently 27 points behind, the largest single contributor to KBWD's edge.
- 2KBWY's Bollinger Band Squeeze turns directional — it is neutral today and would confirm a change in trend.
- 3KBWD's conflicting signal state resolves bearish — it currently carries 1 bullish and 5 bearish rules at once.
- 4The narrowing continues — the lead has already given back 3 points over 30 sessions, and a further 6-point move would eliminate KBWD's advantage entirely.
The full evidence
Every number behind the verdict. The leader is called above each group so you are not left to solve it from the table.
Performance
KBWY leads 6 of 6 windows| Metric | KBWD | KBWY |
|---|---|---|
| 1 week (5 sessions) | -2.7% | -1.3% |
| 1 month (20 sessions) | -12.5% | -5.7% |
| 3 months (63 sessions) | -15.6% | -13.2% |
| 6 months (126 sessions) | -21.9% | -2.4% |
| Year to date | -23.3% | 5.2% |
| 1 year (252 sessions) | -22.7% | 5.3% |
Technicals
KBWY has the stronger structure| Metric | KBWD | KBWY |
|---|---|---|
| RSI (14) | 28.9 | 41.4 |
| ADX (14) | 53.4 | 53.1 |
| Price vs 50-day | -12.9% | -7.4% |
| Price vs 200-day | -18.8% | -4.8% |
| Volatility (1M, annualized) | 22.1% | 20.4% |
Risk
KBWY is the more resilient| Metric | KBWD | KBWY |
|---|---|---|
| Beta | 0.67 | 0.38 |
| Sharpe ratio | -1.66 | 0.15 |
| Sortino ratio | -2.48 | 0.24 |
| Max drawdown | -31.5% | -17.4% |
| Current drawdown | -30.3% | -15.4% |
| Annualized volatility | 17.5% | 16.7% |
| Value at risk (95%) | -1.9% | -1.6% |
Straight answers
Short answers to the questions fund investors ask about this pair, from the figures above.
What is the difference between KBWD and KBWY?
KBWD and KBWY have little in common: 0% of their weight is in the same securities.
How much do KBWD and KBWY overlap?
KBWD and KBWY share 0% of their weighted exposure across 0 common holdings. 38 holdings are unique to KBWD, and 28 holdings are unique to KBWY. Owning both is genuinely additive — most of the capital sits in different securities.
Which ETF is more diversified, KBWD or KBWY?
KBWD holds more positions: 40 versus 31 for KBWY.
Which has the lower expense ratio?
KBWY has the lower expense ratio, 0.35% a year against 5.39% for KBWD.
Which ETF has the higher distribution yield?
KBWD, with a trailing 12-month distribution yield of 16.6% against 9.08% for KBWY.
Which ETF has been more volatile?
Their volatility over the past year is similar: 17.5% annualized for KBWD and 16.7% for KBWY.
Which ETF has had the smaller drawdown?
Their worst peak-to-trough falls over the past five years are similar: -30.7% for KBWD and -32.3% for KBWY.
Compare KBWD and KBWY with others
Continue your research
This page answers which of the two. These answer the questions on either side of it.
How this comparison is scored
The Algovestiq AIQ Score composites four factors — Quality, Value, Momentum and Risk, each carrying a fixed weight. Sentiment is reported separately as SentimentPulse and is not folded into the composite. Scores refresh every trading day, and this page regenerates from the latest snapshot rather than being written once.
The verdict names a leader, states how broadly six independent evidence groups agree, and rates how durable that conclusion is given the score gap, its recent trajectory and the current signal state on both names.
How to use side-by-side comparison →This comparison is informational and educational, not investment advice. AIQ scores update daily; re-check after earnings, guidance or macro data that materially changes either name’s factor profile.