PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IAT vs. KRE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAT vs. KRE

Last updated Aug 2, 2026
Documentation

IAT (iShares U.S. Regional Banks ETF) and KRE (SPDR S&P Regional Banking ETF) are both Financials Equities funds - IAT tracks the Dow Jones U.S. Select Regional Banks Index while KRE tracks the S&P Regional Banks Select Industry Index. Both are passively managed. Over the past 10 years, IAT returned 9.76%/yr vs 9.54%/yr for KRE. Their 0.95 correlation means they have historically moved very closely together. IAT charges 0.42%/yr vs 0.35%/yr for KRE.

Performance

IAT vs. KRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Regional Banks ETF (IAT) 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, IAT achieves a 16.55% return, which is significantly lower than KRE's 18.73% return. Both investments have delivered pretty close results over the past 10 years, with IAT having a 9.76% annualized return and KRE not far behind at 9.54%.

IAT

1D
0.05%
1M
1.29%
6M
10.79%
YTD
16.55%
1Y
33.38%
3Y*
22.18%
5Y*
5.94%
10Y*
9.76%
ALL TIME*
3.78%

KRE

1D
0.21%
1M
1.39%
6M
11.83%
YTD
18.73%
1Y
32.45%
3Y*
19.76%
5Y*
6.87%
10Y*
9.54%
ALL TIME*
4.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IAT

iShares U.S. Regional Banks ETF
$7.75M$9.87M$9.53M

KRE

SPDR S&P Regional Banking ETF
$961.35M$999.45M$1.05B

IAT vs. KRE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAT
iShares U.S. Regional Banks ETF		16.55%13.05%24.36%-8.53%-20.61%38.89%-7.60%31.38%-17.45%10.42%
KRE
SPDR S&P Regional Banking ETF		18.73%10.21%18.58%-7.61%-15.08%39.29%-7.43%27.44%-18.81%7.49%

Correlation

The correlation between IAT and KRE is 0.94, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.94

Correlation (3Y)
Balances recent behavior with more history.

0.96

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.96

Correlation (10Y)
Provides a long-term view across more market conditions.

0.97

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

0.95

The correlation between IAT and KRE has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

IAT vs. KRE - Sectors Allocation Comparison

Sectors
IAT
KRE

Financial Services

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

IAT
100.0%
KRE
100.0%

Basic Materials

IAT

-

KRE

-

Communication Services

IAT

-

KRE

-

Consumer Cyclical

IAT

-

KRE

-

Consumer Defensive

IAT

-

KRE

-

Energy

IAT

-

KRE

-

Healthcare

IAT

-

KRE

-

Industrials

IAT

-

KRE

-

Real Estate

IAT

-

KRE

-

Technology

IAT

-

KRE

-

Utilities

IAT

-

KRE

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares U.S. Regional Banks ETF

SPDR S&P Regional Banking ETF

Often compared with IAT:
IAT vs. KCEIAT vs. MTBIAT vs. PKWIAT vs. XLFIAT vs. JPMIAT vs. SPYIAT vs. SWPPX
Often compared with KRE:
KRE vs. XLFKRE vs. KBEKRE vs. KBWBKRE vs. DPSTKRE vs. VFHKRE vs. NVDAKRE vs. VOO

Return for Risk

IAT vs. KRE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IAT
IAT Risk / Return Rank: 5353
Overall Rank
IAT Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
IAT Sortino Ratio Rank: 5656
Sortino Ratio Rank
IAT Omega Ratio Rank: 5858
Omega Ratio Rank
IAT Calmar Ratio Rank: 4949
Calmar Ratio Rank
IAT Martin Ratio Rank: 4242
Martin Ratio Rank
KRE
KRE Risk / Return Rank: 5353
Overall Rank
KRE Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
KRE Sortino Ratio Rank: 5353
Sortino Ratio Rank
KRE Omega Ratio Rank: 5555
Omega Ratio Rank
KRE Calmar Ratio Rank: 5757
Calmar Ratio Rank
KRE Martin Ratio Rank: 4747
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IAT vs. KRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Regional Banks ETF (IAT) 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.

IATKREDifference
Sharpe ratioReturn per unit of total volatility
1.40
1.31

+0.09

Sortino ratioReturn per unit of downside risk
1.93
1.85

+0.07

Omega ratioGain probability vs. loss probability

1.25

1.24

+0.01

Calmar ratioReturn relative to maximum drawdown

1.75

2.00

-0.25

Martin ratioReturn relative to average drawdown

4.51

5.30

-0.78

IAT vs. KRE - Sharpe Ratio Comparison

The current IAT Sharpe Ratio is 1.40, which is comparable to the KRE Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of IAT 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.

Loading charts...

Drawdowns

IAT vs. KRE - Drawdown Comparison

The maximum IAT drawdown since its inception was -77.22%, which is greater than KRE's maximum drawdown of -68.54%. Use the drawdown chart below to compare losses from any high point for IAT and KRE.

Loading charts...

Drawdown Indicators

IATKREDifference

Max Drawdown

Largest peak-to-trough decline

-77.22%

-68.54%

-8.68%

Max Drawdown (1Y)

Largest decline over 1 year

-17.49%

-14.95%

-2.54%

Max Drawdown (3Y)

Largest decline over 3 years

-29.29%

-28.20%

-1.09%

Max Drawdown (5Y)

Largest decline over 5 years

-55.55%

-52.69%

-2.86%

Max Drawdown (10Y)

Largest decline over 10 years

-55.55%

-54.92%

-0.63%

Current Drawdown

Current decline from peak

-2.53%

-2.39%

-0.14%

Average Drawdown

Average peak-to-trough decline

-26.77%

-21.74%

-5.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.77%

5.63%

+1.14%

Volatility

IAT vs. KRE - Volatility Comparison

iShares U.S. Regional Banks ETF (IAT) and SPDR S&P Regional Banking ETF (KRE) have volatilities of 5.49% and 5.56%, 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.

Loading charts...

Volatility by Period

IATKREDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.49%

5.56%

-0.07%

Volatility (6M)

Calculated over the trailing 6-month period

16.01%

15.30%

+0.71%

Volatility (1Y)

Calculated over the trailing 1-year period

21.95%

22.91%

-0.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.76%

29.63%

-0.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

30.67%

31.76%

-1.09%

IAT vs. KRE - Expense Ratio Comparison

IAT has a 0.42% expense ratio, which is higher than KRE's 0.35% expense ratio.

Dividends

IAT vs. KRE - Dividend Comparison

IAT's dividend yield for the trailing twelve months is around 2.54%, more than KRE's 2.10% yield.

PositionTTM20252024202320222021202020192018201720162015
IAT
iShares U.S. Regional Banks ETF		2.54%2.94%2.95%3.56%3.12%1.88%2.87%2.49%2.48%1.55%1.52%1.78%
KRE
SPDR S&P Regional Banking ETF		2.10%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

With a correlation of 0.94, IAT and KRE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

KRE has higher volatility (5.56%) compared to IAT (5.49%). In terms of maximum drawdown, IAT dropped -77.22% vs KRE's -68.54%.

On 10-year performance, IAT leads with 9.76% vs 9.54% for KRE. On fees, KRE is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IAT has performed better with a 9.76% return vs 9.54%. 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 0.42% for IAT.

IAT has the higher dividend yield at 2.54%, compared with 2.10% for KRE.

IAT tracks Dow Jones U.S. Select Regional Banks 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: 0.42% for IAT and 0.35% for KRE.

IAT currently has the higher Sharpe Ratio (1.40 vs 1.31), 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.

Portfolio Optimizer

Find the right allocation for IAT and KRE

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer