KBWP vs VOO
Invesco KBW Property & Casualty Insurance ETF vs Vanguard S&P 500 ETF
Which is better, KBWP or VOO?
Mid Cap Value against Large Cap Blend.
VOO has a lower expense ratio. KBWP led over 5Y, VOO over 1Y, 3Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 61.3%.
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 | KBWP | VOO |
|---|---|---|
| Expense Ratio | 0.35% | 0.03%Best |
| AUM | $289M | $997.4B |
| Dividend Yield | 1.82% | 1.08% |
| Holdings | 26 | 509 |
| YTD Return | +7.60% | +13.37%Best |
| 1Y Return | +9.90% | +20.08%Best |
| 3Y Return (annualized) | +19.54% | +21.29%Best |
| 5Y Return (annualized) | +13.39%Best | +12.89% |
| Volatility (annualized) | 15.6% | 14.1%Best |
| Max Drawdown | -40.3% | -34.3%Best |
| $10,000 over 5 years | $18,744Best | $18,335 |
| Top 10 Weight | 61.3% | 36.4%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Dec 2, 2010 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Dec 2, 2010 to Sep 4, 2026 (15.8 years).
KBWP 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 15.8 years both funds cover.
KBWP vs VOO Performance
Invesco KBW Property & Casualty Insurance ETF (KBWP) is an ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year KBWP returned +9.90% while VOO returned +20.08%. Year to date, KBWP is up 7.60% versus a gain of 13.37% for VOO.
Over three years, KBWP compounded at +19.54% per year against +21.29% for VOO; over five years the annualized figures are +13.39% and +12.89% respectively. Across the full 16-year window we track, VOO has the edge at +12.97% annualized vs +11.97%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KBWP has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 14.1% 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 -40.3% for KBWP 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 0.57. They move together some of the time, and apart the rest.
Fees and Cost Over Time
KBWP 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, KBWP currently yields 1.82% against 1.08% for VOO.
Holdings Overlap
75.4% of KBWP's money is in holdings VOO also owns. 1.1% of VOO's money is in holdings KBWP also owns.
Most of KBWP is already inside VOO. Owning both mostly buys the same companies twice.
15 positions in common, counted across the 25 positions we hold weights for in KBWP and 505 in VOO, against full books of 26 and 509.
What only one of them owns
Our book lists 483 positions for VOO that do not appear in our book for KBWP (98.4% of the fund), and 10 for KBWP that do not appear in VOO (24.6%).
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 KBWP | Weight in VOO | Difference |
|---|---|---|---|
| TRVThe Travelers Cos, Inc. | 8.82% | 0.11% | 8.71% |
| AONAon Public Limited Company Cl. A | 7.72% | 0.11% | 7.61% |
| CBChubb Ltd Common Stock Usd 24.15 | 7.62% | 0.19% | 7.43% |
| PGRProgressive Corporation | 7.55% | 0.20% | 7.35% |
| WTW:LNWillis Towers Watson Plc Ordinary Shares | 4.64% | 0.04% | 4.60% |
| ALLAllstate Corp. | 4.35% | 0.09% | 4.26% |
| BROBrown & Brown Inc | 4.32% | 0.03% | 4.29% |
| AJGArthur J Gallagher & Co. | 4.21% | 0.09% | 4.12% |
| CINFCincinnati Financial Corp. | 3.89% | 0.04% | 3.85% |
| HIGHartford Financial Services Group Inc. | 3.81% | 0.06% | 3.75% |
75.4% of KBWP 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, KBWP or VOO?
KBWP 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, KBWP or VOO?
Over the past year KBWP returned +9.90% vs +20.08% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), KBWP annualized +11.97% vs +12.97% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KBWP or VOO?
KBWP has been the more volatile fund at 15.6% annualized versus 14.1% for VOO. Worst drawdown: KBWP -40.3% vs VOO -34.3%.
Should I hold both KBWP and VOO?
KBWP and VOO have a monthly-return correlation of 0.57, 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 KBWP and VOO?
75.4% of KBWP's money is in holdings VOO also owns. 1.1% of VOO's is in holdings KBWP also owns. They hold 15 positions in common, counted across the 25 positions we hold weights for in KBWP and 505 in VOO.
Which pays a higher dividend, KBWP or VOO?
KBWP yields 1.82% while VOO yields 1.08%, so KBWP currently pays the higher dividend yield.
Is VOO better than KBWP?
VOO has a lower expense ratio. KBWP led over 5Y, VOO over 1Y, 3Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 61.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.