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GSIB vs. KRE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GSIB vs. KRE

Last updated Jun 4, 2026

GSIB (Themes Global Systemically Important Banks ETF) and KRE (SPDR S&P Regional Banking ETF) are both Financials Equities funds. GSIB is actively managed, while KRE is passively managed. Over the past year, GSIB returned 42.41% vs 21.36% for KRE. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

GSIB vs. KRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Global Systemically Important Banks ETF (GSIB) and SPDR S&P Regional Banking ETF (KRE). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, GSIB achieves a 9.75% return, which is significantly higher than KRE's 5.35% return.

GSIB

1D
-1.07%
1M
5.66%
YTD
9.75%
6M
16.02%
1Y
42.41%
3Y*
—
5Y*
—
10Y*
—

KRE

1D
-2.39%
1M
-1.61%
YTD
5.35%
6M
6.27%
1Y
21.36%
3Y*
20.63%
5Y*
1.92%
10Y*
7.80%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GSIB vs. KRE - Yearly Performance Comparison

2026 (YTD)202520242023
GSIB
Themes Global Systemically Important Banks ETF		9.75%61.67%32.86%2.35%
KRE
SPDR S&P Regional Banking ETF		5.35%10.21%18.58%-0.19%

Correlation

The correlation between GSIB and KRE is 0.58, 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

0.58

Correlation (All Time)
Calculated using the full available price history since Dec 18, 2023

0.61

The correlation between GSIB and KRE has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.

GSIB vs. KRE - Sectors Allocation Comparison

Sectors
GSIB
KRE

Financial Services

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

GSIB
100.0%
KRE
100.0%

Basic Materials

GSIB

-

KRE

-

Communication Services

GSIB

-

KRE

-

Consumer Cyclical

GSIB

-

KRE

-

Consumer Defensive

GSIB

-

KRE

-

Energy

GSIB

-

KRE

-

Healthcare

GSIB

-

KRE

-

Industrials

GSIB

-

KRE

-

Real Estate

GSIB

-

KRE

-

Technology

GSIB

-

KRE

-

Utilities

GSIB

-

KRE

-

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Themes Global Systemically Important Banks ETF

SPDR S&P Regional Banking ETF

Often compared with GSIB:
GSIB vs. EUFNGSIB vs. ATMPGSIB vs. PCGGGSIB vs. FTXOGSIB vs. GDEGSIB vs. XLFGSIB vs. FNGS
Often compared with KRE:
KRE vs. XLFKRE vs. KBEKRE vs. KBWBKRE vs. DPSTKRE vs. IATKRE vs. VFHKRE vs. VOO

Return for Risk

GSIB vs. KRE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GSIB
GSIB Risk / Return Rank: 6868
Overall Rank
GSIB Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
GSIB Sortino Ratio Rank: 7575
Sortino Ratio Rank
GSIB Omega Ratio Rank: 6868
Omega Ratio Rank
GSIB Calmar Ratio Rank: 6161
Calmar Ratio Rank
GSIB Martin Ratio Rank: 6060
Martin Ratio Rank
KRE
KRE Risk / Return Rank: 2626
Overall Rank
KRE Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
KRE Sortino Ratio Rank: 2525
Sortino Ratio Rank
KRE Omega Ratio Rank: 2626
Omega Ratio Rank
KRE Calmar Ratio Rank: 2929
Calmar Ratio Rank
KRE Martin Ratio Rank: 2626
Martin Ratio Rank
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.

GSIB vs. KRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Global Systemically Important Banks ETF (GSIB) and SPDR S&P Regional Banking ETF (KRE). 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.

GSIBKREDifference

Sharpe ratio

Return per unit of total volatility

2.47

0.92

+1.55

Sortino ratio

Return per unit of downside risk

3.43

1.39

+2.04

Omega ratio

Gain probability vs. loss probability

1.41

1.18

+0.23

Calmar ratio

Return relative to maximum drawdown

3.07

1.44

+1.63

Martin ratio

Return relative to average drawdown

10.80

3.72

+7.08

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSIB vs. KRE - Sharpe Ratio Comparison

The current GSIB Sharpe Ratio is 2.47, which is higher than the KRE Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of GSIB and KRE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

GSIBKREDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.47

0.92

+1.55

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.06

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.24

—

Sharpe Ratio (All Time)

Calculated using the full available price history

2.35

0.13

+2.22

Drawdowns

GSIB vs. KRE - Drawdown Comparison

The maximum GSIB drawdown since its inception was -17.71%, smaller than the maximum KRE drawdown of -68.54%. Use the drawdown chart below to compare losses from any high point for GSIB and KRE.

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Drawdown Indicators

GSIBKREDifference

Max Drawdown

Largest peak-to-trough decline

-17.71%

-68.54%

+50.83%

Max Drawdown (1Y)

Largest decline over 1 year

-13.90%

-14.95%

+1.05%

Max Drawdown (3Y)

Largest decline over 3 years

—

-28.20%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-52.69%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-54.92%

—

Current Drawdown

Current decline from peak

-1.07%

-7.27%

+6.20%

Average Drawdown

Average peak-to-trough decline

-2.06%

-21.90%

+19.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.94%

5.75%

-1.81%

Volatility

GSIB vs. KRE - Volatility Comparison

The current volatility for Themes Global Systemically Important Banks ETF (GSIB) is 5.26%, while SPDR S&P Regional Banking ETF (KRE) has a volatility of 6.14%. This indicates that GSIB experiences smaller price fluctuations and is considered to be less risky than KRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GSIBKREDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.26%

6.14%

-0.88%

Volatility (6M)

Calculated over the trailing 6-month period

13.97%

15.84%

-1.87%

Volatility (1Y)

Calculated over the trailing 1-year period

17.24%

23.37%

-6.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.45%

29.98%

-11.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.45%

31.92%

-13.47%

GSIB vs. KRE - Expense Ratio Comparison

Both GSIB and KRE have an expense ratio of 0.35%.

Dividends

GSIB vs. KRE - Dividend Comparison

GSIB's dividend yield for the trailing twelve months is around 1.74%, less than KRE's 2.32% yield.

PositionTTM20252024202320222021202020192018201720162015
GSIB
Themes Global Systemically Important Banks ETF		1.74%1.91%1.67%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
KRE
SPDR S&P Regional Banking ETF		2.32%2.45%2.59%2.99%2.51%1.97%2.78%2.21%2.48%1.40%1.40%1.80%

Frequently Asked Questions

GSIB and KRE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KRE has higher volatility (6.14%) compared to GSIB (5.26%). In terms of maximum drawdown, GSIB dropped -17.71% vs KRE's -68.54%.

On 1-year performance, GSIB leads with 42.41% vs 21.36% for KRE. Both ETFs have the same 0.35% expense ratio. On volatility, GSIB has been the lower-risk option at 5.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, GSIB has performed better with a 42.41% return vs 21.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GSIB and KRE have the same expense ratio: 0.35% per year.

KRE has the higher dividend yield at 2.32%, compared with 1.74% for GSIB.

They also come from different issuers: Themes and State Street.

GSIB currently has the higher Sharpe Ratio (2.47 vs 0.92), 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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