KBE — State Street SPDR S&P Bank ETF
Financial Ranked #280 of 458 tracked ETFs · Issued by State Street Investment Management
KBE Price Performance — Growth of $10,000
Value of a $10,000 investment in KBE over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
KBE Drawdown
The "underwater" chart: KBE's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in KBE?
See what a lump sum in KBE would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The State Street SPDR S&P Bank ETF (KBE) is a Financial category fund managed by State Street Investment Management with $1.48 billion in assets under management. Tracked across 9 ETFs in this specific category, the fund holds an overall rank of #280 out of 458 ETFs monitored by ETFValuer across all sectors. It carries an ETFValuer grade of C, reflecting a composite score of 57.8 out of 100. Investors pay an expense ratio of 0.35% to hold the fund, which currently trades at a price of $69.36. The fund offers a dividend yield of 2.15%, providing income relative to its current market price. The asset size of $1.48 billion suggests a moderate level of investor adoption compared to larger industry peers. This combination of rank, grade, and cost structure defines the fund's current standing within the broader investment landscape.
Over the most recent trading day, the fund posted a gain of +0.86% before retreating to a -1.25% loss over the one-week period. Monthly performance showed a recovery with a +2.77% return, which accelerated significantly to +8.40% over the three-month horizon. The six-month return of +8.19% indicates a slight deceleration compared to the three-month pace, while year-to-date gains have reached +14.66%. The one-year return stands at +20.90%, demonstrating strong annual performance relative to shorter timeframes. Extending the view to three years, the fund has generated a cumulative return of +79.31%. This trajectory illustrates a pattern where short-term volatility exists alongside substantial long-term appreciation.
The fund is assigned a Moderate volatility label, which aligns with its Beta of 1.12 indicating slightly higher sensitivity to market movements than the broader benchmark. A Sharpe ratio of 0.75 suggests the fund has generated reasonable risk-adjusted returns over the measured period. However, the maximum drawdown of -25.98% highlights the potential for significant capital erosion during market downturns. This combination of a Beta above 1.0 and a deep drawdown implies the fund experiences amplified swings in both rising and falling markets. The Moderate volatility classification reflects this balance between the fund's aggressive beta and its historical drawdown severity. Investors should note that the Sharpe ratio of 0.75 represents the net result of these high volatility periods against the fund's returns.
AI-generated summary based on the data on this page.
KBE Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | State Street Global Advisors | 1.62% | $21M |
| 2 | Flagstar Bank NA | 1.06% | $14M |
| 3 | First BanCorp/Puerto Rico | 1.05% | $13M |
| 4 | United Bankshares Inc/WV | 1.04% | $13M |
| 5 | Zions Bancorp NA | 1.04% | $13M |
| 6 | Apollo Global Management Inc | 1.04% | $13M |
| 7 | Beacon Financial Corp | 1.04% | $13M |
| 8 | Banc of California Inc | 1.04% | $13M |
| 9 | WSFS Financial Corp | 1.04% | $13M |
| 10 | Triumph Financial Inc | 1.04% | $13M |
Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 11.0% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how KBE's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With KBE
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with KBE's top 10 — KRE overlaps most, holding 2 of the same companies as KBE's top 10 (2.1% of KBE's assets).
| ETF | Name | Shared Companies | KBE Weight | Examples |
|---|---|---|---|---|
| KRE | State Street SPDR S&P Regional Banking ETF | 2 | 2.1% | Flagstar Bank NA, Zions Bancorp NA |
| SPDW | State Street SPDR Portfolio Developed World ex-US ETF | 1 | 1.6% | State Street Global Advisors |
| SPEM | State Street SPDR Portfolio Emerging Markets ETF | 1 | 1.6% | State Street Global Advisors |
| JNK | State Street SPDR Bloomberg High Yield Bond ETF | 1 | 1.6% | State Street Global Advisors |
| BCI | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 1 | 1.6% | State Street Global Advisors |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
Market Backdrop
10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What KBE's Fees Cost You
KBE charges an expense ratio of 0.35% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
KBE Dividend Income Estimator
KBE currently yields 2.15%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
KBE Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 0.03% and average daily volume is 2.0M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $1.48B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: KBE is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
KBE Performance History
| Period | Return |
|---|---|
| 1-Day | +0.86% |
| 1-Week | -1.25% |
| 1-Month | +2.77% |
| 3-Month | +8.40% |
| 6-Month | +8.19% |
| YTD | +14.66% |
| 1-Year | +20.90% |
| 3-Year | +79.31% |
How KBE Compares to Other Financial ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #89 | B |
KBWB | Invesco KBW Bank ETF | +32.22% | 0.35% | $6.51B |
| #173 | C |
XLF | State Street Financial Select Sector SPDR ETF | +7.69% | 0.08% | $51.4B |
| #188 | C |
IAK | iShares U.S. Insurance ETF | +17.55% | 0.38% | $422M |
| #215 | C |
VFH | Vanguard Financials Index Fund ETF Shares | +8.24% | 0.09% | $13.8B |
| #265 | C |
KRE | State Street SPDR S&P Regional Banking ETF | +22.43% | 0.35% | $4.74B |
| #269 | C |
FNCL | Fidelity MSCI Financials Index ETF | +8.14% | 0.084% | $2.23B |
| #275 | C |
IYF | iShares U.S. Financials ETF | +10.10% | 0.38% | $3.90B |
| #280 | C |
KBE | State Street SPDR S&P Bank ETF | +20.90% | 0.35% | $1.48B |
| #373 | C |
IAI | iShares U.S. Broker-Dealers & Securities Exchanges ETF | +9.23% | 0.38% | $1.33B |