IVV vs KBWP
iShares Core S&P 500 ETF vs Invesco KBW Property & Casualty Insurance ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | KBWP | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.35% | |
| AUM | $865.2B | $270M | |
| Dividend Yield | 1.09% | 1.94% | |
| Holdings | 508 | 27 | |
| YTD Return | +13.72% | +7.66% | |
| 1Y Return | +21.64% | +14.26% | |
| 3Y Return (annualized) | +21.55% | +19.14% | |
| 5Y Return (annualized) | +13.27% | +12.99% | |
| Volatility (annualized) | 15.1% | 15.7% | |
| Max Drawdown | -56.5% | -40.3% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Dec 2, 2010 |
IVV vs KBWP Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco KBW Property & Casualty Insurance ETF (KBWP) is a ETF from Invesco (US). Over the past year IVV returned +21.64% while KBWP returned +14.26%. Year to date, IVV is up 13.72% versus a gain of 7.66% for KBWP.
Over three years, IVV compounded at +21.55% per year against +19.14% for KBWP; over five years the annualized figures are +13.27% and +12.99% respectively. Across the full 16-year window we track, KBWP has the edge at +12.03% annualized vs +7.04%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KBWP has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -40.3% for KBWP. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while KBWP charges 0.35%. On a $10,000 position that is $3 vs $35 annually, a gap of $32 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 1.94% for KBWP.
Holdings Overlap
IVV and KBWP share 15 holdings out of 514 unique holdings combined, representing a 1.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or KBWP?
IVV has an expense ratio of 0.03% while KBWP charges 0.35%. IVV is the cheaper option. On a $10,000 investment, that is $32 per year of difference.
Which performed better, IVV or KBWP?
Over the past year IVV returned +21.64% vs +14.26% for KBWP, so IVV leads on 1-year performance. Over the longest common window we track (16 years), IVV annualized +7.04% vs +12.03% for KBWP. Past performance does not guarantee future results.
Which is riskier, IVV or KBWP?
KBWP has been the more volatile fund at 15.7% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs KBWP -40.3%.
Should I hold both IVV and KBWP?
IVV and KBWP have a monthly-return correlation of 0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and KBWP?
IVV and KBWP share 15 common holdings with a 1.3% weight overlap. Combined, they hold 514 unique securities.
Which pays a higher dividend, IVV or KBWP?
IVV yields 1.09% while KBWP yields 1.94%, so KBWP currently pays the higher dividend yield.
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