KBWB vs VOO
Invesco KBW Bank ETF vs Vanguard S&P 500 ETF
Which is better, KBWB or VOO?
Large Cap Value against Large Cap Blend.
VOO has a lower expense ratio. KBWB led over 1Y and 3Y, VOO over 5Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 60.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | KBWB | VOO |
|---|---|---|
| Expense Ratio | 0.35% | 0.03%Best |
| AUM | $6.7B | $997.4B |
| Dividend Yield | 1.95% | 1.04% |
| Holdings | 30 | 509 |
| YTD Return | +13.56%Best | +11.55% |
| 1Y Return | +27.41%Best | +17.54% |
| 3Y Return (annualized) | +35.99%Best | +20.71% |
| 5Y Return (annualized) | +11.45% | +12.80%Best |
| Volatility (annualized) | 23.9% | 14.0%Best |
| Max Drawdown | -52.0% | -34.3%Best |
| $10,000 over 5 years | $17,195 | $18,262Best |
| Top 10 Weight | 60.5% | 36.4%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Nov 1, 2011 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Nov 1, 2011 to Sep 10, 2026 (14.9 years).
KBWB vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 14.9 years both funds cover.
KBWB vs VOO Performance
Invesco KBW Bank ETF (KBWB) is an ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year KBWB returned +27.41% while VOO returned +17.54%. Year to date, KBWB is up 13.56% versus a gain of 11.55% for VOO.
Over three years, KBWB compounded at +35.99% per year against +20.71% for VOO; over five years the annualized figures are +11.45% and +12.80% respectively. Across the full 15-year window we track, VOO has the edge at +13.71% annualized vs +12.31%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KBWB has been the more volatile fund, with annualized monthly volatility of 23.9% compared with 14.0% for VOO. 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 -52.0% for KBWB and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
KBWB charges 0.35% per year while VOO charges 0.03%. On a $10,000 position that is $35 vs $3 annually, a gap of $32 per year that compounds over a long holding period. On income, KBWB currently yields 1.95% against 1.04% for VOO.
Holdings Overlap
92.7% of KBWB's money is in holdings VOO also owns. 4.6% of VOO's money is in holdings KBWB also owns.
Most of KBWB is already inside VOO. Owning both mostly buys the same companies twice.
19 positions in common, counted across the 25 positions we hold weights for in KBWB and 505 in VOO, against full books of 30 and 509.
What only one of them owns
Our book lists 477 positions for VOO that do not appear in our book for KBWB (94.8% of the fund), and 6 for KBWB that do not appear in VOO (7.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in KBWB | Weight in VOO | Difference |
|---|---|---|---|
| JPMJpmorgan Chase & Co. | 8.44% | 1.26% | 7.18% |
| BACBank Of America Corp. | 8.62% | 0.58% | 8.04% |
| WFCWells Fargo & Co. | 8.06% | 0.39% | 7.67% |
| MSMorgan Stanley | 7.42% | 0.39% | 7.03% |
| GSGoldman Sachs Group Inc. | 7.26% | 0.44% | 6.82% |
| COFCapital One Financial Corp. | 4.17% | 0.19% | 3.98% |
| USBUS Bancorp | 4.14% | 0.15% | 3.99% |
| STTState Street Corp. | 4.21% | 0.07% | 4.14% |
| PNCPnc Financial Services Group Inc. | 4.10% | 0.15% | 3.95% |
| CCitigroup Inc. | 3.86% | 0.36% | 3.50% |
92.7% of KBWB is already inside VOO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, KBWB or VOO?
KBWB has an expense ratio of 0.35% while VOO charges 0.03%. VOO is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, KBWB or VOO?
Over the past year KBWB returned +27.41% vs +17.54% for VOO, so KBWB leads on 1-year performance. Over the longest common window we track (15 years), KBWB annualized +12.31% vs +13.71% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KBWB or VOO?
KBWB has been the more volatile fund at 23.9% annualized versus 14.0% for VOO. Worst drawdown: KBWB -52.0% vs VOO -34.3%.
Should I hold both KBWB and VOO?
KBWB and VOO have a monthly-return correlation of 0.71, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between KBWB and VOO?
92.7% of KBWB's money is in holdings VOO also owns. 4.6% of VOO's is in holdings KBWB also owns. They hold 19 positions in common, counted across the 25 positions we hold weights for in KBWB and 505 in VOO.
Which pays a higher dividend, KBWB or VOO?
KBWB yields 1.95% while VOO yields 1.04%, so KBWB currently pays the higher dividend yield.
Is VOO better than KBWB?
VOO has a lower expense ratio. KBWB led over 1Y and 3Y, VOO over 5Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 60.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.