KBWP vs VYM
Invesco KBW Property & Casualty Insurance ETF vs Vanguard High Dividend Yield ETF
Which is better, KBWP or VYM?
Mid Cap Value against Large Cap Value.
VYM has a lower expense ratio. KBWP led over 3Y, 5Y and the full window, VYM over 1Y. VYM is less concentrated, with 25.9% 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 | VYM |
|---|---|---|
| Expense Ratio | 0.35% | 0.04%Best |
| AUM | $289M | $81.6B |
| Dividend Yield | 1.82% | 2.24% |
| Holdings | 26 | 613 |
| YTD Return | +7.60% | +14.82%Best |
| 1Y Return | +9.90% | +20.84%Best |
| 3Y Return (annualized) | +19.54%Best | +18.64% |
| 5Y Return (annualized) | +13.39%Best | +12.28% |
| Volatility (annualized) | 15.6% | 12.9%Best |
| Max Drawdown | -40.3% | -35.7%Best |
| $10,000 over 5 years | $18,744Best | $17,845 |
| Top 10 Weight | 61.3% | 25.9%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Value |
| Inception | Dec 2, 2010 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Dec 2, 2010 to Sep 4, 2026 (15.8 years).
KBWP vs VYM 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 VYM Performance
Invesco KBW Property & Casualty Insurance ETF (KBWP) is an ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year KBWP returned +9.90% while VYM returned +20.84%. Year to date, KBWP is up 7.60% versus a gain of 14.82% for VYM.
Over three years, KBWP compounded at +19.54% per year against +18.64% for VYM; over five years the annualized figures are +13.39% and +12.28% respectively. Across the full 16-year window we track, KBWP has the edge at +11.97% annualized vs +10.26%.
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 12.9% for VYM. 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 -35.7% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
KBWP charges 0.35% per year while VYM charges 0.04%. On a $10,000 position that is $35 vs $4 annually, a gap of $31 per year that compounds over a long holding period. On income, KBWP currently yields 1.82% against 2.24% for VYM.
Holdings Overlap
63.5% of KBWP's money is in holdings VYM also owns. 2.4% of VYM's money is in holdings KBWP also owns.
The two portfolios partly overlap.
17 positions in common, counted across the 25 positions we hold weights for in KBWP and 603 in VYM, against full books of 26 and 613.
What only one of them owns
Our book lists 553 positions for VYM that do not appear in our book for KBWP (95.1% of the fund), and 7 for KBWP that do not appear in VYM (31.8%).
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 VYM | Difference |
|---|---|---|---|
| TRVThe Travelers Cos, Inc. | 8.82% | 0.29% | 8.53% |
| CBChubb Ltd Common Stock Usd 24.15 | 7.62% | 0.50% | 7.12% |
| PGRProgressive Corporation | 7.55% | 0.53% | 7.02% |
| ALLAllstate Corp. | 4.35% | 0.25% | 4.10% |
| CINFCincinnati Financial Corp. | 3.89% | 0.12% | 3.77% |
| HIGHartford Financial Services Group Inc. | 3.81% | 0.15% | 3.66% |
| WRBWr Berkley Corp. | 3.83% | 0.07% | 3.76% |
| AIGAmerican International Gr | 3.65% | 0.16% | 3.49% |
| EGEverest Group Ltd Common Stock | 3.70% | 0.06% | 3.64% |
| AIZAssurant, Inc. | 3.53% | 0.06% | 3.47% |
63.5% of KBWP is already inside VYM.
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 VYM?
KBWP has an expense ratio of 0.35% while VYM charges 0.04%. VYM is the cheaper option, by $31 a year on a $10,000 investment.
Which performed better, KBWP or VYM?
Over the past year KBWP returned +9.90% vs +20.84% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (16 years), KBWP annualized +11.97% vs +10.26% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KBWP or VYM?
KBWP has been the more volatile fund at 15.6% annualized versus 12.9% for VYM. Worst drawdown: KBWP -40.3% vs VYM -35.7%.
Should I hold both KBWP and VYM?
KBWP and VYM have a monthly-return correlation of 0.69, 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 VYM?
63.5% of KBWP's money is in holdings VYM also owns. 2.4% of VYM's is in holdings KBWP also owns. They hold 17 positions in common, counted across the 25 positions we hold weights for in KBWP and 603 in VYM.
Which pays a higher dividend, KBWP or VYM?
KBWP yields 1.82% while VYM yields 2.24%, so VYM currently pays the higher dividend yield.
Is VYM better than KBWP?
VYM has a lower expense ratio. KBWP led over 3Y, 5Y and the full window, VYM over 1Y. VYM is less concentrated, with 25.9% 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.