KBWBvsDFNLETF Comparison
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Invesco KBW Bank ETF (KBWB) belongs to the US Financials segment. Davis Select Financial ETF (DFNL) is part of the Uncategorized Equities segment. Both ETFs have the same top 3 sector exposures: and Financials. KBWB is less expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.61% for DFNL. KBWB is up 10.59% year-to-date (YTD) with -$92M in YTD flows. DFNL performs worse with -0.27% YTD performance, and +$54M in YTD flows. Run a side-by-side ETF comparison of KBWB and DFNL below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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KBWB vs DFNL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 06/18/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | KBWB DFNL | +9.88%+4.03% | +21.69%+8.86% | +10.59%-0.27% | +40.98%+16.98% | +141.97%+78.79% | +72.14%+71.31% |
| Flows | KBWB DFNL | +$601M-$24M | +$328M-$24M | -$92M+$54M | +$833M+$130M | +$2.72B+$156M | +$3.01B+$129M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | KBWB DFNL | +20.24%+15.65% | +20.27%+14.43% | +23.69%+16.64% | +26.48%+19.01% |
| Max drawdown | KBWB DFNL | -4.75%-5.89% | -16.41%-12.61% | -25.42%-16.11% | -49.65%-26.10% |
| Max drawdown duration | KBWB DFNL | 42d56d | 114d130d | 141d164d | 1043d788d |
Trading data
KBWB | DFNL | |
Last sale 6/18/2026 at 1:30 PM | $92.64 | $47.94 |
| Previous close 06/18/2026 | $93.23 | $48.00 |
| Consolidated volume 06/18/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of May 29, 2026
1-year trailing difference
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DFNL
is actively managed and doesn’t replicate an indexKBWB | DFNL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 6/18/2026 at 1:30 PM
Live
Closed
KBWB | DFNL | |
|---|---|---|
| Last price | $92.64 | $47.94 |
| 1D performance | -0.63% | -0.13% |
| AuM | $6.32 B | $449.98 M |
| E/R | 0.35% | 0.61% |
Characteristics
KBWB | DFNL | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Invesco | Davis ETFs |
| Benchmark | KBW Nasdaq Bank Index | - |
| N° of holdings | 24 | 30 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 1, 2011 | January 11, 2017 |
| ESG | No | No |
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Exposure
Countries
KBWB
USA
99.99%
Other
0.01%
DFNL
USA
71.4%
Switzerland
8.94%
Bermuda
7.53%
Other
12.14%
Sectors
KBWB
Financials
98.21%
Other
1.79%
DFNL
Financials
94.81%
Other
5.19%
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Diversification
KBWB
Total weight of top 15 holdings out of 15
79.75%
DFNL
Total weight of top 15 holdings out of 15
70.33%
Top 15 holdings
Data as of April 30, 2026
KBWB
MORGAN STANLEY
8.57%
THE GOLDMAN SACHS GROUP
8.19%
BK OF AMERICA CO
7.93%
JPMORGAN CHASE
7.79%
WELLS FARGO
7.43%
STATE STREET
4.49%
CITIGROUP
4.40%
BANK OF NEW YORK MELLON
4.24%
PNC FINL SVC
3.91%
TRUIST FINANCIAL CORP
3.90%
US
3.84%
FIFTH THIRD BANCORP
3.82%
M&T BANK
3.77%
NORTHERN TRUST
3.74%
CAPITAL ONE FINANCIAL
3.72%
DFNL
CAPITAL ONE FINANCIAL
9.96%
US
5.72%
BERKSHIRE HATHWAY
5.49%
FIFTH THIRD BANCORP
5.41%
PNC FINL SVC
4.84%
WELLS FARGO
4.72%
MARKET CORPORATION
4.70%
CHUBB LTD
4.66%
JPMORGAN CHASE
4.39%
JULIUS BAER
4.28%
AMERICAN EXPRESS
3.62%
LOEWS
3.34%
RENAISSANCERE
3.25%
ROCKET COMPANIES
3.13%
BANK OF NEW YORK MELLON
2.82%
Frequently asked questions about KBWB and DFNL
How have the KBWB and DFNL ETFs performed in 2026?
As of June 18, 2026, KBWB is up 10.59% year-to-date (YTD), while DFNL has lost -0.27%. That puts KBWB better performer ahead so far this year.
Which ETF is attracting more investor money: KBWB or DFNL?
Year-to-date, the KBWB ETF saw -$92M in flows, compared to +$54M for DFNL.
Which ETF is more volatile: KBWB or DFNL?
Over the past year, KBWB had a volatility of 20.27%, while DFNL experienced 14.43%.
Which ETF is bigger: KBWB or DFNL?
As of June 18, 2026, KBWB holds $6.32 B in assets under management (AUM), while DFNL manages $449.98 M.
What sectors do the KBWB and DFNL ETFs invest in?
KBWB leans toward sectors like Financials. Meanwhile, DFNL focuses on Financials.
What are the top holdings of the KBWB ETF and DFNL ETF?
KBWB top holdings include MORGAN STANLEY, THE GOLDMAN SACHS GROUP and BK OF AMERICA CO. DFNL holds in its top three: CAPITAL ONE FINANCIAL, US and BERKSHIRE HATHWAY.
Which ETF is more diversified: KBWB or DFNL?
KBWB holds 24 securities with 79.75% of its assets in the top 15. DFNL has 31 securities and a top 15 weight of 70.33%.
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