KBWP vs SPY
Comparison between INVESCO KBW PROPERTY & CASUALTY INSURANCE ETF (KBWP, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed KBWP, delivering a return of +13.3% compared to +11.0%
KBWP vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
KBWP
$250M
Winner
SPY
$735B
Expense Ratio
KBWP
0.35%
Winner
SPY
0.09%
Max Drawdown
Winner
KBWP
40.31%
SPY
56.47%
Sharpe Ratio
KBWP
-0.21
Winner
SPY
1.62
5Y Beta
Winner
KBWP
0.37
SPY
1.00
P/E Ratio
Winner
KBWP
10.22
SPY
28.99
Forward P/E
Winner
KBWP
10.88
SPY
22.37
PEG Ratio
KBWP
0.14
SPY
N/A
5Y Dividends CAGR
Winner
KBWP
10.12%
SPY
5.43%
5Y EPS CAGR
KBWP
20.55%
Winner
SPY
26.05%
Debt to Equity
KBWP
36.13%
Winner
SPY
32.40%
P/S Ratio
Winner
KBWP
1.43
SPY
3.74
P/B Ratio
Winner
KBWP
1.85
SPY
5.61
KBWP vs SPY - Holdings Comparison
KBWP and SPY have 17 common holdings. Overlap is 1.21%
KBWP's top 25 holdings weight is 99.99%. SPY's top 25 holdings weight is 52.37%.
| Rank | KBWP | SPY |
|---|---|---|
| #1 | THE TRAVELERS COMPANIES INC (TRV) - 8.29% | NVIDIA CORP (NVDA) - 8.10% |
| #2 | CHUBB LTD (CB) - 8.01% | APPLE INC (AAPL) - 7.02% |
| #3 | AON PLC CLASS A (AON) - 7.99% | MICROSOFT CORP (MSFT) - 4.79% |
| #4 | PROGRESSIVE CORP (PGR) - 7.81% | AMAZON.COM INC (AMZN) - 4.02% |
| #5 | MARSH (MRSH) - 7.28% | ALPHABET INC CLASS A (GOOGL) - 3.51% |
| #6 | CINCINNATI FINANCIAL CORP (CINF) - 4.27% | BROADCOM INC (AVGO) - 3.10% |
| #7 | EVEREST GROUP LTD (EG) - 4.25% | ALPHABET INC CLASS C (GOOG) - 2.79% |
| #8 | ALLSTATE CORP (ALL) - 4.16% | META PLATFORMS INC CLASS A (META) - 2.08% |
| #9 | THE HARTFORD INSURANCE GROUP INC (HIG) - 4.03% | TESLA INC (TSLA) - 1.89% |
| #10 | AMERICAN INTERNATIONAL GROUP INC (AIG) - 4.02% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | ARCH CAPITAL GROUP LTD (ACGL) - 4.00% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #12 | WR BERKLEY CORP (WRB) - 3.94% | ELI LILLY AND CO (LLY) - 1.31% |
| #13 | RENAISSANCERE HOLDINGS LTD (RNR) - 3.83% | JPMORGAN CHASE & CO (JPM) - 1.28% |
| #14 | ASSURANT INC (AIZ) - 3.80% | ADVANCED MICRO DEVICES INC (AMD) - 1.27% |
| #15 | ARTHUR J. GALLAGHER & CO (AJG) - 3.75% | EXXON MOBIL CORP (XOM) - 0.97% |
| #16 | WILLIS TOWERS WATSON PLC (WTW) - 3.52% | INTEL CORP (INTC) - 0.90% |
| #17 | AMERICAN FINANCIAL GROUP INC (AFG) - 3.38% | JOHNSON & JOHNSON (JNJ) - 0.86% |
| #18 | BROWN & BROWN INC (BRO) - 3.33% | VISA INC CLASS A (V) - 0.85% |
| #19 | AXIS CAPITAL HOLDINGS LTD (AXS) - 2.19% | WALMART INC (WMT) - 0.81% |
| #20 | THE HANOVER INSURANCE GROUP INC (THG) - 2.06% | CISCO SYSTEMS INC (CSCO) - 0.72% |
| #21 | MERCURY GENERAL CORP (MCY) - 1.68% | COSTCO WHOLESALE CORP (COST) - 0.69% |
| #22 | SELECTIVE INSURANCE GROUP INC (SIGI) - 1.61% | CATERPILLAR INC (CAT) - 0.66% |
| #23 | RLI CORP (RLI) - 1.44% | MASTERCARD INC CLASS A (MA) - 0.62% |
| #24 | RYAN SPECIALTY HOLDINGS INC CLASS A (RYAN) - 1.25% | LAM RESEARCH CORP (LRCX) - 0.62% |
| #25 | INVESCO SHRT-TRM INV GOV&AGCY INSTL (AGPXX) - 0.10% | ABBVIE INC (ABBV) - 0.58% |
| Total Holdings | 26 | 505 |
KBWP vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
KBWP
+1.53%
Winner
SPY
+1.90%
3M
KBWP
-3.09%
Winner
SPY
+8.55%
6M
KBWP
+0.75%
Winner
SPY
+8.18%
1Y
KBWP
-1.08%
Winner
SPY
+25.79%
5Y(CAGR)
KBWP
+10.97%
Winner
SPY
+13.32%
10Y(CAGR)
KBWP
+11.76%
Winner
SPY
+15.19%
Max(CAGR)
Winner
KBWP
+13.00%
SPY
+8.47%
KBWP vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | KBWP | SPY |
|---|---|---|
| 2026 | -2.91% | +8.26% |
| 2025 | +12.19% | +18.00% |
| 2024 | +28.79% | +25.59% |
| 2023 | +6.85% | +26.72% |
| 2022 | +10.93% | -18.64% |
| 2021 | +23.29% | +30.52% |
| 2020 | -1.94% | +17.28% |
| 2019 | +30.22% | +31.09% |
| 2018 | -0.62% | -5.24% |
| 2017 | +9.12% | +20.78% |
| 2016 | +22.06% | +13.59% |
| 2015 | +16.27% | +1.31% |
| 2014 | +12.15% | +14.56% |
| 2013 | +32.29% | +29.00% |
| 2012 | +24.21% | +14.17% |
| 2011 | -0.75% | +0.85% |
| 2010 | -0.04% | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
KBWP vs SPY Drawdown Comparison
The maximum drawdown for KBWP was -39.74%, occurring on Mar 23, 2020. Recovery took 269 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current KBWP drawdown is -5.33%. The current SPY drawdown is -2.90%.
| Rank | KBWP | SPY |
|---|---|---|
| #1 | -39.74% Feb 11, 2020 - Mar 8, 2021 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -19.06% Apr 29, 2011 - Feb 3, 2012 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -17.01% Apr 1, 2022 - Nov 25, 2022 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -16.57% Sep 21, 2018 - Apr 11, 2019 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -13.35% Feb 7, 2023 - Nov 22, 2023 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -12.29% Nov 27, 2024 - Apr 1, 2025 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -12.27% Aug 4, 2017 - Nov 29, 2017 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -11.59% Apr 1, 2025 - May 19, 2025 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -10.43% Dec 31, 2013 - May 29, 2014 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -9.61% Dec 29, 2015 - Mar 17, 2016 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -9.57% Dec 30, 2025 - Jun 3, 2026 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -8.92% May 10, 2021 - Aug 20, 2021 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -8.45% Jun 2, 2025 - Dec 12, 2025 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -8.30% Aug 18, 2015 - Oct 20, 2015 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -7.48% Oct 25, 2021 - Jan 4, 2022 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between KBWP and SPY is 0.98 which considered as a very strong positive correlation - the stocks move almost identically together.
0.98
-101
Dividend Comparison (1999 - 2026)
KBWP vs SPY dividend yield comparison.
| Year | KBWP | SPY |
|---|---|---|
| 2026 | 0.82% | 0.24% |
| 2025 | 1.58% | 1.07% |
| 2024 | 1.64% | 1.21% |
| 2023 | 1.68% | 1.40% |
| 2022 | 1.99% | 1.65% |
| 2021 | 3.02% | 1.20% |
| 2020 | 1.93% | 1.52% |
| 2019 | 1.99% | 1.75% |
| 2018 | 2.11% | 2.04% |
| 2017 | 1.90% | 1.80% |
| 2016 | 2.14% | 2.03% |
| 2015 | 1.35% | 2.06% |
| 2014 | 2.73% | 1.87% |
| 2013 | 1.72% | 1.81% |
| 2012 | 3.06% | 2.18% |
| 2011 | 2.86% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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