KBWY: A High-Yield Is A Lure, Don't Be A Fish

  • KBWY's 9.63% dividend yield is misleading, masking deep problems in portfolio quality and sector concentration. The ETF is overexposed to struggling office and hotel REITs, with insufficient diversification and heavy small-cap risk. Valuation is unattractive, with an astronomical P/E ratio and poor historical performance compared to alternatives like XLRE and SCHH.