KBWB vs SPGP: Holdings Overlap
Invesco · 24 holdings · $6.8B · as of 2026-05-31
Invesco · 73 holdings · $2.3B · as of 2026-04-30
Holdings snapshots are 31 days apart (KBWB: 2026-05-31, SPGP: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are KBWB and SPGP?
Invesco KBW Bank ETF (KBWB, by Invesco) holds 24 positions; Invesco S&P 500 GARP ETF (SPGP, by Invesco) holds 73. They have 6 holdings in common, and by portfolio weight the two funds are 8.0% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 8.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 6KBWB holds 24 · SPGP holds 73
- Weight in Shared Holdings
- KBWB 23%·SPGP 8%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in KBWB
18 of 24 positions (77.3% of the fund) are not held by SPGP.
Sector Breakdown
| Sector | KBWB | SPGP |
|---|---|---|
| Financials | 99.8% | 25.7% |
| Industrials | 0.0% | 18.1% |
| Consumer Discretionary | 0.0% | 18.0% |
| Information Technology | 0.0% | 18.0% |
| Energy | 0.0% | 7.1% |
| Other Sectors | 0.0% | 13.1% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| KBWB | +1.5% | +17.1% | +39.1% | +32.5% | +11.4% | +13.3% | 1.90% |
| SPGP | +3.2% | +13.3% | +20.4% | +12.0% | +8.3% | +15.2% | 0.79% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in KBWB vs SPGP →
Shared Holdings(6)
The top 6 shared positions account for 100% of the overlap, led by NTRS, PNC and USB.
 NTRSNorthern Trust Corp. | 3.68% | 2.16% | 2.16% |
|---|---|---|---|
 PNCPNC Financial Services Group, Inc. (The) | 3.90% | 1.31% | 1.31% |
 USBU.S. Bancorp | 3.76% | 1.18% | 1.18% |
 MTBM&T Bank Corp. | 3.73% | 1.18% | 1.18% |
 HBANHuntington Bancshares Inc. | 3.65% | 1.13% | 1.13% |
 FITBFifth Third Bancorp | 3.78% | 1.07% | 1.07% |
Frequently Asked Questions
How much do KBWB and SPGP overlap?
KBWB and SPGP overlap by 8.0% of portfolio weight. They share 6 holdings (KBWB holds 24 positions and SPGP holds 73), based on each fund's latest SEC-reported holdings.
Is it redundant to own both KBWB and SPGP?
The two portfolios are 8.0% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of KBWB and SPGP?
The largest positions held by both funds are NTRS, PNC, USB, MTB and HBAN. Together the top 6 shared positions account for 100% of the total overlap.
What does KBWB own that SPGP doesn't?
18 positions (77.3% of KBWB) are unique to KBWB, led by MS, GS and BAC. In the other direction, 67 positions (92.0% of SPGP) are unique to SPGP.