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 0.63% for DFNL. KBWB is up 2.74% year-to-date (YTD) with -$586M in YTD flows. DFNL performs worse with -3.03% YTD performance, and +$80M 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 04/29/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | KBWB DFNL | +12.65%+6.80% | +0.38%-2.95% | +2.74%-3.03% | +44.88%+20.60% | +128.91%+76.81% | +48.22%+59.69% |
| Flows | KBWB DFNL | +$154M+$58K | -$649M+$9M | -$586M+$80M | +$355M+$159M | +$2.24B+$182M | +$2.02B+$155M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | KBWB DFNL | +25.11%+17.66% | +20.55%+14.67% | +24.36%+16.88% | +26.53%+19.06% |
| Max drawdown | KBWB DFNL | -16.41%-12.61% | -16.41%-12.61% | -25.42%-16.11% | -49.65%-26.10% |
| Max drawdown duration | KBWB DFNL | 79d80d | 79d80d | 141d164d | 1043d788d |
Trading data
KBWB | DFNL | |
Last sale 4/30/2026 at 4:48 PM | $87.19 | $46.67 |
| Previous close 04/29/2026 | $86.03 | $47.23 |
| Consolidated volume 04/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 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 4/30/2026 at 4:48 PM
Live
Closed
KBWB | DFNL | |
|---|---|---|
| Last price | $87.19 | $46.67 |
| 1D performance | +1.35% | -1.20% |
| AuM | $5.42 B | $463.19 M |
| E/R | 0.35% | 0.63% |
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
100%
Other
-0%
DFNL
USA
70.63%
Switzerland
9.26%
Bermuda
7.59%
Other
12.52%
Sectors
KBWB
Financials
98.29%
Other
1.71%
DFNL
Financials
95.21%
Other
4.79%
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Diversification
KBWB
Total weight of top 15 holdings out of 15
80.08%
DFNL
Total weight of top 15 holdings out of 15
71.05%
Top 15 holdings
Data as of March 31, 2026
KBWB
MORGAN STANLEY
8.13%
WELLS FARGO
8.10%
BK OF AMERICA CO
8.06%
JPMORGAN CHASE
8.05%
THE GOLDMAN SACHS GROUP
7.99%
CITIGROUP
4.17%
BANK OF NEW YORK MELLON
4.12%
PNC FINL SVC
4.07%
STATE STREET
4.07%
US
3.98%
M&T BANK
3.96%
TRUIST FINANCIAL CORP
3.86%
FIFTH THIRD BANCORP
3.85%
CAPITAL ONE FINANCIAL
3.85%
HUNTINGTON BANCSHARES
3.84%
DFNL
CAPITAL ONE FINANCIAL
9.90%
BERKSHIRE HATHWAY
5.90%
US
5.59%
FIFTH THIRD BANCORP
5.17%
MARKET CORPORATION
5.04%
CHUBB LTD
4.98%
WELLS FARGO
4.95%
PNC FINL SVC
4.81%
JPMORGAN CHASE
4.40%
JULIUS BAER
4.28%
AMERICAN EXPRESS
3.63%
LOEWS
3.44%
RENAISSANCERE
3.31%
DBS GROUP HOLDINGS
2.94%
EXOR SPA
2.72%
Frequently asked questions about KBWB and DFNL
How have the KBWB and DFNL ETFs performed in 2026?
As of April 29, 2026, KBWB is up 2.74% year-to-date (YTD), while DFNL has lost -3.03%. 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 -$586M in flows, compared to +$80M for DFNL.
Which ETF is more volatile: KBWB or DFNL?
Over the past year, KBWB had a volatility of 20.55%, while DFNL experienced 14.67%.
Which ETF is bigger: KBWB or DFNL?
As of April 29, 2026, KBWB holds $5.42 B in assets under management (AUM), while DFNL manages $463.19 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, WELLS FARGO and BK OF AMERICA CO. DFNL holds in its top three: CAPITAL ONE FINANCIAL, BERKSHIRE HATHWAY and US.
Which ETF is more diversified: KBWB or DFNL?
KBWB holds 24 securities with 80.08% of its assets in the top 15. DFNL has 31 securities and a top 15 weight of 71.05%.
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