- ISIN
- US78464A7972
- CUSIP
- 78464A797
- Issuer
- State Street
- Inception Date
- Nov 8, 2005
- Region
- North America (U.S.)
- Category
- Financials Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P Banks Select Industry Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Value
- Assets Under Management
- $2B
Share Price Chart
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Performance
KBE Performance Chart
SPDR S&P Bank ETF (KBE) is up 9.9% since the beginning of the year. KBE is currently trading at $66 per share. Investors who bought $1,000 worth of KBE shares 5 years ago would now be looking at an investment worth $1,471.
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Returns By Period
SPDR S&P Bank ETF (KBE) has returned 9.90% so far this year and 27.34% over the past 12 months. Over the last ten years, KBE has returned 10.94% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
SPDR S&P Bank ETF
- 1D
- 0.92%
- 1M
- 4.37%
- YTD
- 9.90%
- 6M
- 6.59%
- 1Y
- 27.34%
- 3Y*
- 27.15%
- 5Y*
- 8.02%
- 10Y*
- 10.94%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
KBE Monthly Returns History
Based on dividend-adjusted daily data since Nov 15, 2005, KBE's average daily return is +0.04%, while the average monthly return is +0.61%. At this rate, an investment would double in approximately 9.5 years.
Historically, 56% of months were positive and 44% were negative. The best month was Nov 2016 with a return of +18.7%, while the worst month was Jan 2009 at -35.1%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 7 months.
On a daily basis, KBE closed higher 51% of trading days. The best single day was Apr 9, 2009 with a return of +20.2%, while the worst single day was Jan 20, 2009 at -19.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.75% | -3.96% | -1.89% | 7.79% | -1.09% | 4.45% | 9.90% | ||||||
| 2025 | 6.13% | -2.62% | -6.96% | -4.40% | 5.08% | 5.54% | 0.82% | 8.61% | -2.09% | -4.51% | 3.95% | 3.58% | 12.36% |
| 2024 | -2.69% | -0.80% | 6.78% | -5.90% | 4.31% | 1.09% | 16.30% | -0.17% | -1.20% | 3.33% | 13.16% | -9.75% | 23.78% |
| 2023 | 8.02% | -1.05% | -22.61% | -1.19% | -6.99% | 6.52% | 16.56% | -6.91% | -4.75% | -4.15% | 14.24% | 14.90% | 5.30% |
| 2022 | 0.86% | 2.89% | -6.95% | -10.11% | 4.55% | -10.22% | 10.64% | -1.79% | -6.53% | 9.62% | 2.00% | -7.95% | -14.83% |
| 2021 | 2.18% | 16.38% | 4.95% | 3.37% | 2.52% | -6.20% | -3.62% | 5.40% | 2.02% | 4.59% | -3.02% | 2.35% | 33.46% |
Benchmark Metrics
SPDR S&P Bank ETF has an annualized alpha of -4.75%, beta of 1.35, and R2 of 0.58 versus S&P 500 Index. Calculated based on daily prices since November 15, 2005.
- This ETF participated in 124.64% of S&P 500 Index downside but only 101.70% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -4.75% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Alpha
- -4.75%
- Beta
- 1.35
- R²
- 0.58
- Upside Capture
- 101.70%
- Downside Capture
- 124.64%
Expense Ratio
KBE has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Risk / Return Rank
KBE ranks 36 for risk / return — below 36% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for SPDR S&P Bank ETF (KBE) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| KBE | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.37 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 2.78 | -0.91 |
| Martin ratioReturn relative to average drawdown | 4.93 | 12.44 | -7.51 |
Dividends
Dividend History
SPDR S&P Bank ETF provided a 2.78% dividend yield over the last twelve months, with an annual payout of $1.83 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.83 | $1.52 | $1.30 | $1.28 | $1.35 | $1.18 | $1.02 | $1.10 | $0.82 | $0.64 | $0.60 | $0.57 |
Dividend yield | 2.78% | 2.51% | 2.35% | 2.78% | 2.99% | 2.16% | 2.44% | 2.33% | 2.18% | 1.36% | 1.39% | 1.70% |
Monthly Dividends
The table displays the monthly dividend distributions for SPDR S&P Bank ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.34 | $0.00 | $0.00 | $0.35 | $0.69 | ||||||
| 2025 | $0.00 | $0.00 | $0.38 | $0.00 | $0.00 | $0.37 | $0.00 | $0.00 | $0.37 | $0.00 | $0.00 | $0.41 | $1.52 |
| 2024 | $0.00 | $0.00 | $0.31 | $0.00 | $0.00 | $0.33 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.34 | $1.30 |
| 2023 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.37 | $0.00 | $0.00 | $0.34 | $1.28 |
| 2022 | $0.00 | $0.00 | $0.35 | $0.00 | $0.00 | $0.29 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.42 | $1.35 |
| 2021 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.36 | $1.18 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the SPDR S&P Bank ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the SPDR S&P Bank ETF was 83.15%, occurring on Mar 6, 2009. Recovery took 2203 trading sessions.
The current SPDR S&P Bank ETF drawdown is 1.05%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -83.15%Mar 2009 | 2y 14d | 8y 9mo | 10y 9moFeb 2007 - Dec 2017 |
COVID crash2020 | -53.14%Mar 2020 | 2y 12d | 11mo | 2y 11moMar 2018 - Feb 2021 |
2023 bear market2023 | -45.25%May 2023 | 1y 3mo | 1y 5mo | 2y 9moJan 2022 - Oct 2024 |
2025 selloff2025 | -25.97%Apr 2025 | 4mo 13d | 4mo 29d | 9mo 12dNov 2024 - Sep 2025 |
2026 correction2026 | -14.63%Mar 2026 | 1mo 7d | — | 4mo 14dFeb 2026 - now |
Drawdown Indicators
| KBE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.15% | -56.78% | -26.37% |
Max Drawdown (1Y)Largest decline over 1 year | -14.63% | -9.10% | -5.53% |
Max Drawdown (3Y)Largest decline over 3 years | -25.97% | -18.90% | -7.07% |
Max Drawdown (5Y)Largest decline over 5 years | -45.25% | -25.43% | -19.82% |
Max Drawdown (10Y)Largest decline over 10 years | -53.14% | -33.92% | -19.22% |
Current DrawdownCurrent decline from peak | -1.05% | -1.80% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -27.47% | -10.71% | -16.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 2.03% | +3.53% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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