IAI vs. KIE
IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF) and KIE (SPDR S&P Insurance ETF) are both Financials Equities funds - IAI tracks the DJ US Select / Investment Services while KIE tracks the S&P Insurance Select Industry Index. Both are passively managed. Over the past 10 years, IAI returned 18.46%/yr vs 10.42%/yr for KIE. A 0.78 correlation means they provide meaningful diversification when combined. IAI charges 0.41%/yr vs 0.35%/yr for KIE.
Performance
IAI vs. KIE - Performance Comparison
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Returns By Period
In the year-to-date period, IAI achieves a 0.24% return, which is significantly higher than KIE's -9.36% return. Over the past 10 years, IAI has outperformed KIE with an annualized return of 18.46%, while KIE has yielded a comparatively lower 10.42% annualized return.
IAI
- 1D
- -1.71%
- 1M
- 1.75%
- YTD
- 0.24%
- 6M
- 1.73%
- 1Y
- 16.52%
- 3Y*
- 27.84%
- 5Y*
- 13.43%
- 10Y*
- 18.46%
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%
IAI vs. KIE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 0.24% | 25.80% | 34.37% | 15.27% | -10.87% | 40.48% | 18.61% | 24.26% | -9.47% | 28.86% |
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 IAI and KIE is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since May 8, 2006 | 0.78 |
Over the past year, the correlation between IAI and KIE has dropped to 0.39 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.
IAI vs. KIE - Sectors Allocation Comparison
Sectors
IAI
KIE
Financial Services
Technology
-
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
-
Healthcare
-
Industrials
-
-
Real Estate
-
-
Utilities
-
-
Financial Services
IAI
KIE
Technology
IAI
KIE
-
Basic Materials
IAI
-
KIE
-
Communication Services
IAI
-
KIE
-
Consumer Cyclical
IAI
-
KIE
-
Consumer Defensive
IAI
-
KIE
-
Energy
IAI
-
KIE
-
Healthcare
IAI
-
KIE
Industrials
IAI
-
KIE
-
Real Estate
IAI
-
KIE
-
Utilities
IAI
-
KIE
-
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Return for Risk
IAI vs. KIE — Risk / Return Rank
IAI
KIE
IAI vs. KIE - Risk-Adjusted Trends 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 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.
| IAI | KIE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.87 | -0.47 | +1.34 |
Sortino ratioReturn per unit of downside risk | 1.27 | -0.55 | +1.82 |
Omega ratioGain probability vs. loss probability | 1.16 | 0.94 | +0.22 |
Calmar ratioReturn relative to maximum drawdown | 1.00 | -0.64 | +1.65 |
Martin ratioReturn relative to average drawdown | 2.88 | -1.57 | +4.45 |
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
| IAI | KIE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | -0.47 | +1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.45 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | 0.49 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.28 | 0.00 |
Drawdowns
IAI vs. KIE - Drawdown Comparison
The maximum IAI drawdown since its inception was -75.46%, roughly equal to the maximum KIE drawdown of -75.30%. Use the drawdown chart below to compare losses from any high point for IAI and KIE.
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Drawdown Indicators
| IAI | KIE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.46% | -75.30% | -0.16% |
Max Drawdown (1Y)Largest decline over 1 year | -16.52% | -11.81% | -4.71% |
Max Drawdown (3Y)Largest decline over 3 years | -23.14% | -12.65% | -10.49% |
Max Drawdown (5Y)Largest decline over 5 years | -28.84% | -15.68% | -13.16% |
Max Drawdown (10Y)Largest decline over 10 years | -40.38% | -44.31% | +3.93% |
Current DrawdownCurrent decline from peak | -5.57% | -10.67% | +5.10% |
Average DrawdownAverage peak-to-trough decline | -22.66% | -12.04% | -10.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.75% | 4.81% | +0.94% |
Volatility
IAI vs. KIE - Volatility Comparison
iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and SPDR S&P Insurance ETF (KIE) have volatilities of 4.48% and 4.59%, 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.
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Volatility by Period
| IAI | KIE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.48% | 4.59% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 14.92% | 11.16% | +3.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.05% | 16.10% | +2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.42% | 18.37% | +3.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.84% | 21.17% | +1.67% |
IAI vs. KIE - Expense Ratio Comparison
IAI has a 0.41% expense ratio, which is higher than KIE's 0.35% expense ratio.
Dividends
IAI vs. KIE - Dividend Comparison
IAI's dividend yield for the trailing twelve months is around 1.08%, less than KIE's 1.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 1.08% | 0.95% | 1.05% | 1.80% | 2.14% | 1.31% | 1.55% | 1.52% | 1.58% | 1.37% | 1.49% | 1.31% |
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
IAI and KIE have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KIE has higher volatility (4.59%) compared to IAI (4.48%). In terms of maximum drawdown, IAI dropped -75.46% vs KIE's -75.30%.
On 10-year performance, IAI leads with 18.46% vs 10.42% for KIE. On fees, KIE is cheaper at 0.35% per year. On volatility, IAI has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IAI has performed better with a 18.46% return vs 10.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KIE is cheaper with a 0.35% expense ratio, compared with 0.41% for IAI.
KIE has the higher dividend yield at 1.71%, compared with 1.08% for IAI.
IAI tracks DJ US Select / Investment Services, while KIE tracks S&P Insurance Select Industry Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.41% for IAI and 0.35% for KIE.
IAI currently has the higher Sharpe Ratio (0.87 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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