KBWP
Invesco KBW Property & Casualty Insurance ETF
Invesco KBW Property & Casualty Insurance Portfolio seeks investment results that correspond (before fees and expenses) generally to the price and yield of the index called the KBW Property
US
EQUITY
Rules-Based
MANAGEMENT STYLE
463.7 M
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 02, 2010 |
| Assets (mns) | $464 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Committee |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| PROGRESSIVE CORP | 8.1 % |
| ALLSTATE CORP | 8.0 % |
| CHUBB LIMITED | 7.9 % |
| TRAVELERS COS INC/THE | 7.9 % |
| AMERICAN INTERNATIONAL GROUP | 7.8 % |
| HARTFORD FINANCIAL SVCS GRP | 4.2 % |
| CINCINNATI FINANCIAL CORP | 4.2 % |
| KEMPER CORP | 4.1 % |
| HANOVER INSURANCE GROUP INC/ | 4.1 % |
| RLI CORP | 4.0 % |
Constituent Breakdown
| Number of holdings | 26 |
| Herfindahl-Hirschman Index | 541 |
| Wgt avg mkt cap (mns) | $43,932 |
| Large cap (>$10bn) | 72.1% |
| Mid cap ($2-10bn) | 25.1% |
| Small cap (<$2bn) | 2.8% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 73.7 % |
 |
BERMUDA | 18.3 % |
 |
SWITZERLAND | 7.9 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 27.2% | 32.0% | 18.3% | 15.3% | 12.9% | 13.1% | 13.9% | Volatility | 15.5% | 15.4% | 16.9% | 18.7% | 24.8% | 20.2% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.46 | 21% |
| MSCI EAFE | 0.53 | 29% |
| MSCI Emg Mkts | 0.24 | 6% |
Liquidity Measures
| Avg. volume (000) | 22 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.16% |
| ADV of underlying (mns) | $2,710 |
Technical Indicators
| Recent close | $123.33 |
| 30d moving avg. | $116.19 |
| Annualized volatility | 17.6% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 0.5% |
| Short interest (underlying) | 1.4% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. KBWP |
Expenses vs. KBWP |
ALTAR Score™ vs. KBWP |
|---|---|---|---|---|
| IAK | iShares U.S. Insurance ETF | 50.9% | +5 bp | +0.2% |
| KIE | SPDR S&P Insurance ETF | 35.4% | 0 bp | +0.4% |
| FXO | First Trust Financials AlphaDEX Fund | 14.4% | +27 bp | +1.7% |
| RSPF | Invesco S&P 500 Equal Weight Financials ETF | 14.1% | +5 bp | +0.5% |
| DVLU | First Trust Dorsey Wright Momentum & Value ETF | 13.6% | +25 bp | +3.0% |
| USCF | Themes US Cash Flow Champions ETF | 11.7% | -6 bp | +2.2% |
| IYF | iShares U.S. Financials ETF | 10.4% | +5 bp | -0.2% |
| FTDS | First Trust Dividend Strength ETF | 10.3% | +35 bp | +2.5% |
Risk and Returns: KBWP vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/21/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
KBWP
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
KBWP
5.5%
Cat. Avg
5.4%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.4% and a standard deviation of
2.4%. KBWP's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places KBWP in the 53rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
KBWPSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| KBWP (35 bp) Percentile rank | 37 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| KBWP | 35.0 | 15.7 | 50.7 |
| Peer Avg. | 46.6 | 16.9 | 63.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .