CNA vs. KIE
CNA (CNA Financial Corporation) is a stock, while KIE (SPDR S&P Insurance ETF) is Financials Equities fund tracking the S&P Insurance Select Industry Index. Over the past 10 years, CNA returned 10.36%/yr vs 10.42%/yr for KIE. A 0.75 correlation means they provide meaningful diversification when combined.
Performance
CNA vs. KIE - Performance Comparison
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Returns By Period
In the year-to-date period, CNA achieves a -6.60% return, which is significantly higher than KIE's -9.36% return. Both investments have delivered pretty close results over the past 10 years, with CNA having a 10.36% annualized return and KIE not far ahead at 10.42%.
CNA
- 1D
- -0.78%
- 1M
- -4.17%
- YTD
- -6.60%
- 6M
- -3.09%
- 1Y
- -5.30%
- 3Y*
- 11.87%
- 5Y*
- 5.19%
- 10Y*
- 10.36%
KIE
- 1D
- -1.61%
- 1M
- -3.59%
- YTD
- -9.36%
- 6M
- -7.05%
- 1Y
- -7.54%
- 3Y*
- 12.94%
- 5Y*
- 8.23%
- 10Y*
- 10.42%
CNA vs. KIE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNA CNA Financial Corporation | -6.60% | 6.96% | 23.96% | 7.14% | 3.82% | 19.07% | -5.42% | 9.47% | -11.12% | 36.94% |
KIE SPDR S&P Insurance ETF | -9.36% | 8.12% | 26.95% | 12.18% | 3.48% | 22.75% | -3.04% | 27.19% | -5.99% | 12.83% |
Correlation
The correlation between CNA and KIE is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2005 | 0.75 |
The correlation between CNA and KIE has been stable across timeframes, ranging from 0.74 to 0.78 - a consistent structural relationship.
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Return for Risk
CNA vs. KIE — Risk / Return Rank
CNA
KIE
CNA vs. KIE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CNA Financial Corporation (CNA) and SPDR S&P Insurance ETF (KIE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CNA | KIE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.94 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | -0.64 | +0.28 |
| Martin ratioReturn relative to average drawdown | -0.85 | -1.57 | +0.72 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CNA | KIE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.28 | -0.47 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.45 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.49 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.28 | -0.13 |
Drawdowns
CNA vs. KIE - Drawdown Comparison
The maximum CNA drawdown since its inception was -87.48%, which is greater than KIE's maximum drawdown of -75.30%. Use the drawdown chart below to compare losses from any high point for CNA and KIE.
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Drawdown Indicators
| CNA | KIE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.48% | -75.30% | -12.18% |
Max Drawdown (1Y)Largest decline over 1 year | -14.55% | -11.81% | -2.74% |
Max Drawdown (3Y)Largest decline over 3 years | -14.55% | -12.65% | -1.90% |
Max Drawdown (5Y)Largest decline over 5 years | -25.67% | -15.68% | -9.99% |
Max Drawdown (10Y)Largest decline over 10 years | -45.91% | -44.31% | -1.60% |
Current DrawdownCurrent decline from peak | -14.53% | -10.67% | -3.86% |
Average DrawdownAverage peak-to-trough decline | -25.55% | -12.04% | -13.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.49% | 4.81% | +1.68% |
Volatility
CNA vs. KIE - Volatility Comparison
CNA Financial Corporation (CNA) has a higher volatility of 5.56% compared to SPDR S&P Insurance ETF (KIE) at 4.59%. This indicates that CNA's price experiences larger fluctuations and is considered to be riskier than KIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNA | KIE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.56% | 4.59% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 14.95% | 11.16% | +3.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.25% | 16.10% | +3.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.44% | 18.37% | +3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.93% | 21.17% | +3.76% |
Dividends
CNA vs. KIE - Dividend Comparison
CNA's dividend yield for the trailing twelve months is around 9.26%, more than KIE's 1.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNA CNA Financial Corporation | 9.26% | 8.04% | 7.77% | 6.81% | 8.51% | 5.15% | 8.93% | 7.59% | 7.47% | 5.84% | 7.23% | 8.53% |
KIE SPDR S&P Insurance ETF | 1.71% | 1.57% | 1.48% | 1.45% | 1.90% | 1.95% | 1.85% | 1.76% | 1.83% | 1.56% | 1.55% | 1.65% |
Frequently Asked Questions
CNA and KIE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNA has higher volatility (5.56%) compared to KIE (4.59%). In terms of maximum drawdown, CNA dropped -87.48% vs KIE's -75.30%.
CNA currently has the higher Sharpe Ratio (-0.28 vs -0.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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