IAI vs. KCE
Compare and contrast key facts about iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and SPDR S&P Capital Markets ETF (KCE).
IAI and KCE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IAI is a passively managed fund by iShares that tracks the performance of the DJ US Select / Investment Services. It was launched on May 1, 2006. KCE is a passively managed fund by State Street that tracks the performance of the S&P Capital Markets Select Industry Index. It was launched on Nov 8, 2005. Both IAI and KCE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IAI or KCE.
Key characteristics
| IAI | KCE | |
|---|---|---|
| YTD Return | 38.05% | 41.64% |
| 1Y Return | 58.53% | 64.99% |
| 3Y Return (Ann) | 11.52% | 11.42% |
| 5Y Return (Ann) | 19.54% | 22.53% |
| 10Y Return (Ann) | 15.71% | 13.77% |
| Sharpe Ratio | 3.72 | 3.85 |
| Sortino Ratio | 5.15 | 5.04 |
| Omega Ratio | 1.68 | 1.67 |
| Calmar Ratio | 4.18 | 4.25 |
| Martin Ratio | 29.01 | 30.00 |
| Ulcer Index | 2.12% | 2.33% |
| Daily Std Dev | 16.54% | 18.11% |
| Max Drawdown | -75.33% | -74.00% |
| Current Drawdown | -1.35% | -2.23% |
Correlation
The correlation between IAI and KCE is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
IAI vs. KCE - Performance Comparison
In the year-to-date period, IAI achieves a 38.05% return, which is significantly lower than KCE's 41.64% return. Over the past 10 years, IAI has outperformed KCE with an annualized return of 15.71%, while KCE has yielded a comparatively lower 13.77% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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IAI vs. KCE - Expense Ratio Comparison
IAI has a 0.41% expense ratio, which is higher than KCE's 0.35% expense ratio.
Risk-Adjusted Performance
IAI vs. KCE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and SPDR S&P Capital Markets ETF (KCE). 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.
Dividends
IAI vs. KCE - Dividend Comparison
IAI's dividend yield for the trailing twelve months is around 1.02%, less than KCE's 1.58% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 1.02% | 1.80% | 2.14% | 1.31% | 1.55% | 1.52% | 1.58% | 1.37% | 1.48% | 1.31% | 1.13% | 1.13% |
KCE SPDR S&P Capital Markets ETF | 1.58% | 1.82% | 2.42% | 1.53% | 2.20% | 2.32% | 2.67% | 1.95% | 2.30% | 2.43% | 1.59% | 1.73% |
Drawdowns
IAI vs. KCE - Drawdown Comparison
The maximum IAI drawdown since its inception was -75.33%, roughly equal to the maximum KCE drawdown of -74.00%. Use the drawdown chart below to compare losses from any high point for IAI and KCE. For additional features, visit the drawdowns tool.
Volatility
IAI vs. KCE - Volatility Comparison
iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and SPDR S&P Capital Markets ETF (KCE) have volatilities of 9.00% and 8.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.