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IAK vs. KRE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAK vs. KRE

Last updated Jun 25, 2026

IAK (iShares U.S. Insurance ETF) and KRE (SPDR S&P Regional Banking ETF) are both Financials Equities funds - IAK tracks the Dow Jones U.S. Select Insurance Index while KRE tracks the S&P Regional Banks Select Industry Index. Both are passively managed. Over the past 10 years, IAK returned 13.24%/yr vs 9.72%/yr for KRE. A 0.74 correlation means they provide meaningful diversification when combined. IAK charges 0.38%/yr vs 0.35%/yr for KRE.

Performance

IAK vs. KRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Insurance ETF (IAK) and SPDR S&P Regional Banking ETF (KRE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IAK achieves a 3.98% return, which is significantly lower than KRE's 15.47% return. Over the past 10 years, IAK has outperformed KRE with an annualized return of 13.24%, while KRE has yielded a comparatively lower 9.72% annualized return.

IAK

1D
0.35%
1M
3.96%
YTD
3.98%
6M
3.01%
1Y
7.11%
3Y*
19.83%
5Y*
14.32%
10Y*
13.24%

KRE

1D
1.16%
1M
7.25%
YTD
15.47%
6M
12.15%
1Y
29.69%
3Y*
26.68%
5Y*
4.63%
10Y*
9.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAK vs. KRE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAK
iShares U.S. Insurance ETF		3.98%9.50%28.25%11.28%11.33%26.84%-2.86%25.94%-11.48%14.18%
KRE
SPDR S&P Regional Banking ETF		15.47%10.21%18.58%-7.61%-15.08%39.29%-7.43%27.44%-18.81%7.49%

Correlation

The correlation between IAK and KRE is 0.52, 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

0.52

Correlation (3Y)
Calculated over the trailing 3-year period

0.50

Correlation (5Y)
Calculated over the trailing 5-year period

0.63

Correlation (10Y)
Calculated over the trailing 10-year period

0.70

Correlation (All Time)
Calculated using the full available price history since Jun 22, 2006

0.74

Over the past year, the correlation between IAK and KRE has dropped to 0.52 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

IAK vs. KRE - Sectors Allocation Comparison

Sectors
IAK
KRE

Financial Services

99.4%
100.0%

Healthcare

0.6%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

IAK
99.4%
KRE
100.0%

Healthcare

IAK
0.6%
KRE

-

Basic Materials

IAK

-

KRE

-

Communication Services

IAK

-

KRE

-

Consumer Cyclical

IAK

-

KRE

-

Consumer Defensive

IAK

-

KRE

-

Energy

IAK

-

KRE

-

Industrials

IAK

-

KRE

-

Real Estate

IAK

-

KRE

-

Technology

IAK

-

KRE

-

Utilities

IAK

-

KRE

-

Compare stocks, funds, or ETFs

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iShares U.S. Insurance ETF

SPDR S&P Regional Banking ETF

Often compared with IAK:
IAK vs. KIEIAK vs. KBWPIAK vs. IHEIAK vs. DIVBIAK vs. INFLIAK vs. VYMIAK vs. ^SP500TR
Often compared with KRE:
KRE vs. XLFKRE vs. KBEKRE vs. KBWBKRE vs. DPSTKRE vs. IATKRE vs. VFHKRE vs. VOO

Return for Risk

IAK vs. KRE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAK
IAK Risk / Return Rank: 1818
Overall Rank
IAK Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
IAK Sortino Ratio Rank: 1515
Sortino Ratio Rank
IAK Omega Ratio Rank: 1515
Omega Ratio Rank
IAK Calmar Ratio Rank: 2222
Calmar Ratio Rank
IAK Martin Ratio Rank: 2020
Martin Ratio Rank
KRE
KRE Risk / Return Rank: 4040
Overall Rank
KRE Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
KRE Sortino Ratio Rank: 3838
Sortino Ratio Rank
KRE Omega Ratio Rank: 4040
Omega Ratio Rank
KRE Calmar Ratio Rank: 4444
Calmar Ratio Rank
KRE Martin Ratio Rank: 3636
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.

IAK vs. KRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) 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.

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.

IAKKREDifference
Sharpe ratioReturn per unit of total volatility
0.47
1.28

-0.81

Sortino ratioReturn per unit of downside risk
0.75
1.82

-1.07

Omega ratioGain probability vs. loss probability

1.09

1.24

-0.15

Calmar ratioReturn relative to maximum drawdown

0.94

1.99

-1.06

Martin ratioReturn relative to average drawdown

2.09

5.18

-3.09

IAK vs. KRE - Sharpe Ratio Comparison

The current IAK Sharpe Ratio is 0.47, which is lower than the KRE Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of IAK 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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Drawdowns

IAK vs. KRE - Drawdown Comparison

The maximum IAK drawdown since its inception was -77.38%, which is greater than KRE's maximum drawdown of -68.54%. Use the drawdown chart below to compare losses from any high point for IAK and KRE.

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Drawdown Indicators

IAKKREDifference

Max Drawdown

Largest peak-to-trough decline

-77.38%

-68.54%

-8.84%

Max Drawdown (1Y)

Largest decline over 1 year

-7.62%

-14.95%

+7.33%

Max Drawdown (3Y)

Largest decline over 3 years

-11.58%

-28.20%

+16.62%

Max Drawdown (5Y)

Largest decline over 5 years

-14.76%

-52.69%

+37.93%

Max Drawdown (10Y)

Largest decline over 10 years

-44.95%

-54.92%

+9.97%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-16.09%

-21.84%

+5.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.41%

5.75%

-2.34%

Volatility

IAK vs. KRE - Volatility Comparison

The current volatility for iShares U.S. Insurance ETF (IAK) is 5.61%, while SPDR S&P Regional Banking ETF (KRE) has a volatility of 6.40%. This indicates that IAK 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

IAKKREDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.61%

6.40%

-0.79%

Volatility (6M)

Calculated over the trailing 6-month period

10.66%

16.08%

-5.42%

Volatility (1Y)

Calculated over the trailing 1-year period

15.13%

23.25%

-8.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.05%

29.84%

-11.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.87%

31.84%

-10.97%

IAK vs. KRE - Expense Ratio Comparison

IAK has a 0.38% expense ratio, which is higher than KRE's 0.35% expense ratio.

Dividends

IAK vs. KRE - Dividend Comparison

IAK's dividend yield for the trailing twelve months is around 2.57%, more than KRE's 2.16% yield.

PositionTTM20252024202320222021202020192018201720162015
IAK
iShares U.S. Insurance ETF		2.57%1.69%1.49%1.44%1.69%2.26%2.07%1.84%2.33%1.62%1.68%1.62%
KRE
SPDR S&P Regional Banking ETF		2.16%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

IAK and KRE have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KRE has higher volatility (6.40%) compared to IAK (5.61%). In terms of maximum drawdown, IAK dropped -77.38% vs KRE's -68.54%.

On 10-year performance, IAK leads with 13.24% vs 9.72% for KRE. On fees, KRE is cheaper at 0.35% per year. On volatility, IAK has been the lower-risk option at 5.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IAK has performed better with a 13.24% return vs 9.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

KRE is cheaper with a 0.35% expense ratio, compared with 0.38% for IAK.

IAK has the higher dividend yield at 2.57%, compared with 2.16% for KRE.

IAK tracks Dow Jones U.S. Select Insurance Index, while KRE tracks S&P Regional Banks Select Industry Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.38% for IAK and 0.35% for KRE.

KRE currently has the higher Sharpe Ratio (1.28 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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