FDFF vs. KIE

Last updated Jun 24, 2026

FDFF (Fidelity Disruptive Finance ETF) and KIE (SPDR S&P Insurance ETF) are both Financials Equities funds. FDFF is actively managed, while KIE is passively managed. Over the past 3 years, FDFF returned 10.23%/yr vs 16.55%/yr for KIE. A 0.55 correlation means they provide meaningful diversification when combined. FDFF charges 0.50%/yr vs 0.35%/yr for KIE.

Performance

FDFF vs. KIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Disruptive Finance ETF (FDFF) and SPDR S&P Insurance ETF (KIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FDFF

• 1D: -0.70%
• 1M: -1.05%
• YTD: -7.76%
• 6M: -9.14%
• 1Y: -10.47%
• 3Y*: 10.23%
• 5Y*: —
• 10Y*: —

KIE

• 1D: 2.35%
• 1M: 3.87%
• YTD: -0.00%
• 6M: -1.09%
• 1Y: 1.69%
• 3Y*: 16.55%
• 5Y*: 11.03%
• 10Y*: 12.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FDFF vs. KIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FDFF Fidelity Disruptive Finance ETF	-7.76%	-2.75%	27.86%	16.58%
KIE SPDR S&P Insurance ETF	-0.00%	8.12%	26.95%	14.19%

Correlation

The correlation between FDFF and KIE is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 12, 2023	0.55

The correlation between FDFF and KIE has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.

FDFF vs. KIE - Sectors Allocation Comparison

Sectors	FDFF	KIE
Financial Services	75.4%	96.9%
Technology	18.8%	-
Industrials	4.2%	-
Real Estate	0.8%	-
Consumer Cyclical	0.8%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	3.1%
Utilities	-	-

Return for Risk

FDFF vs. KIE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FDFF

FDFF Risk / Return Rank: 5
FDFF Sharpe Ratio Rank: 4
FDFF Sortino Ratio Rank: 4
FDFF Omega Ratio Rank: 4
FDFF Calmar Ratio Rank: 5
FDFF Martin Ratio Rank: 5

KIE

KIE Risk / Return Rank: 10
KIE Sharpe Ratio Rank: 10
KIE Sortino Ratio Rank: 9
KIE Omega Ratio Rank: 9
KIE Calmar Ratio Rank: 10
KIE Martin Ratio Rank: 10

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FDFF vs. KIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Finance ETF (FDFF) 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.

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.

	FDFF	KIE	Difference
Sharpe ratio: Return per unit of total volatility	-0.57	0.10	-0.67
Sortino ratio: Return per unit of downside risk	-0.68	0.26	-0.94
Omega ratio: Gain probability vs. loss probability	0.92	1.03	-0.11
Calmar ratio: Return relative to maximum drawdown	-0.47	0.14	-0.61
Martin ratio: Return relative to average drawdown	-0.92	0.34	-1.26

FDFF vs. KIE - Sharpe Ratio Comparison

The current FDFF Sharpe Ratio is -0.57, which is lower than the KIE Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of FDFF and KIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FDFF vs. KIE - Drawdown Comparison

The maximum FDFF drawdown since its inception was -23.06%, smaller than the maximum KIE drawdown of -75.30%. Use the drawdown chart below to compare losses from any high point for FDFF and KIE.

Drawdown Indicators

	FDFF	KIE	Difference
Max Drawdown Largest peak-to-trough decline	-23.06%	-75.30%	+52.24%
Max Drawdown (1Y) Largest decline over 1 year	-22.31%	-11.81%	-10.50%
Max Drawdown (3Y) Largest decline over 3 years	-23.06%	-12.65%	-10.41%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.31%	—
Current Drawdown Current decline from peak	-16.23%	-1.45%	-14.78%
Average Drawdown Average peak-to-trough decline	-6.49%	-12.02%	+5.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.41%	4.92%	+6.49%

Volatility

FDFF vs. KIE - Volatility Comparison

The current volatility for Fidelity Disruptive Finance ETF (FDFF) is 5.51%, while SPDR S&P Insurance ETF (KIE) has a volatility of 5.85%. This indicates that FDFF experiences smaller price fluctuations and is considered to be less risky than KIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDFF	KIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.51%	5.85%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	14.47%	11.85%	+2.62%
Volatility (1Y) Calculated over the trailing 1-year period	18.40%	16.46%	+1.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.00%	18.38%	+0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.00%	21.16%	-2.16%

FDFF vs. KIE - Expense Ratio Comparison

FDFF has a 0.50% expense ratio, which is higher than KIE's 0.35% expense ratio.

Dividends

FDFF vs. KIE - Dividend Comparison

FDFF's dividend yield for the trailing twelve months is around 1.07%, less than KIE's 1.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDFF Fidelity Disruptive Finance ETF	1.07%	0.86%	0.70%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KIE SPDR S&P Insurance ETF	1.64%	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

Can I hold both FDFF and KIE in my portfolio?

FDFF and KIE have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDFF or KIE?

KIE has higher volatility (5.85%) compared to FDFF (5.51%). In terms of maximum drawdown, FDFF dropped -23.06% vs KIE's -75.30%.

Which ETF is better, FDFF or KIE?

On 3-year performance, KIE leads with 16.55% vs 10.23% for FDFF. On fees, KIE is cheaper at 0.35% per year. On volatility, FDFF has been the lower-risk option at 5.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDFF or KIE?

Over the 3-year period, KIE has performed better with a 16.55% return vs 10.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDFF or KIE?

KIE is cheaper with a 0.35% expense ratio, compared with 0.50% for FDFF.

Which ETF pays a higher dividend yield, FDFF or KIE?

KIE has the higher dividend yield at 1.64%, compared with 1.07% for FDFF.

What is the main difference between FDFF and KIE?

They also come from different issuers: Fidelity and State Street. Their fees differ too: 0.50% for FDFF and 0.35% for KIE.

Which has better risk-adjusted returns?

KIE currently has the higher Sharpe Ratio (0.10 vs -0.57), 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.