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IYG vs. KIE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYG vs. KIE

Last updated Jul 16, 2026
Documentation

IYG (iShares U.S. Financial Services ETF) and KIE (SPDR S&P Insurance ETF) are both Financials Equities funds - IYG tracks the Dow Jones U.S. Financial Services TR while KIE tracks the S&P Insurance Select Industry Index. Both are passively managed. Over the past 10 years, IYG returned 14.86%/yr vs 12.01%/yr for KIE. Their correlation of 0.82 suggests significant overlap in exposure. IYG charges 0.42%/yr vs 0.35%/yr for KIE.

Performance

IYG vs. KIE - Performance Comparison

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

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Returns By Period

The year-to-date returns for both stocks are quite close, with IYG having a 4.22% return and KIE slightly lower at 4.21%. Over the past 10 years, IYG has outperformed KIE with an annualized return of 14.86%, while KIE has yielded a comparatively lower 12.01% annualized return.

IYG

1D
1.05%
1M
5.66%
6M
4.87%
YTD
4.22%
1Y
13.34%
3Y*
22.40%
5Y*
10.98%
10Y*
14.86%

KIE

1D
-2.13%
1M
6.82%
6M
6.33%
YTD
4.21%
1Y
11.82%
3Y*
16.88%
5Y*
12.37%
10Y*
12.01%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYG vs. KIE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYG
iShares U.S. Financial Services ETF		4.22%19.85%31.94%16.07%-16.76%30.36%0.99%37.62%-12.56%24.47%
KIE
SPDR S&P Insurance ETF		4.21%8.12%26.95%12.18%3.48%22.75%-3.04%27.19%-5.99%12.83%

Correlation

The correlation between IYG and KIE is 0.54, 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

0.54

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

0.65

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

0.74

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

0.78

Correlation (All Time)
Calculated using the full available price history since Nov 15, 2005

0.82

Over the past year, the correlation between IYG and KIE has dropped to 0.54 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

IYG vs. KIE - Sectors Allocation Comparison

Sectors
IYG
KIE

Financial Services

99.8%
96.9%

Technology

0.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

3.1%

Industrials

-

-

Real Estate

-

-

Utilities

-

-

Financial Services

IYG
99.8%
KIE
96.9%

Technology

IYG
0.0%
KIE

-

Basic Materials

IYG

-

KIE

-

Communication Services

IYG

-

KIE

-

Consumer Cyclical

IYG

-

KIE

-

Consumer Defensive

IYG

-

KIE

-

Energy

IYG

-

KIE

-

Healthcare

IYG

-

KIE
3.1%

Industrials

IYG

-

KIE

-

Real Estate

IYG

-

KIE

-

Utilities

IYG

-

KIE

-

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. Financial Services ETF

SPDR S&P Insurance ETF

Often compared with IYG:
IYG vs. IYFIYG vs. XLFIYG vs. IXGIYG vs. VFHIYG vs. FTXOIYG vs. GABFIYG vs. IYK
Often compared with KIE:
KIE vs. IAKKIE vs. KBWPKIE vs. XLFKIE vs. IAIKIE vs. RNRKIE vs. PAVEKIE vs. JQUA

Return for Risk

IYG vs. KIE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYG
IYG Risk / Return Rank: 2525
Overall Rank
IYG Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
IYG Sortino Ratio Rank: 2626
Sortino Ratio Rank
IYG Omega Ratio Rank: 2727
Omega Ratio Rank
IYG Calmar Ratio Rank: 2222
Calmar Ratio Rank
IYG Martin Ratio Rank: 2222
Martin Ratio Rank
KIE
KIE Risk / Return Rank: 2424
Overall Rank
KIE Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
KIE Sortino Ratio Rank: 2424
Sortino Ratio Rank
KIE Omega Ratio Rank: 2222
Omega Ratio Rank
KIE Calmar Ratio Rank: 2525
Calmar Ratio Rank
KIE Martin Ratio Rank: 2424
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.

IYG vs. KIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Financial Services ETF (IYG) 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.

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.

IYGKIEDifference
Sharpe ratioReturn per unit of total volatility
0.85
0.71

+0.15

Sortino ratioReturn per unit of downside risk
1.24
1.11

+0.12

Omega ratioGain probability vs. loss probability

1.16

1.13

+0.03

Calmar ratioReturn relative to maximum drawdown

0.84

1.01

-0.16

Martin ratioReturn relative to average drawdown

2.13

2.51

-0.38

IYG vs. KIE - Sharpe Ratio Comparison

The current IYG Sharpe Ratio is 0.85, which is comparable to the KIE Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of IYG and KIE, 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

IYG vs. KIE - Drawdown Comparison

The maximum IYG drawdown since its inception was -81.84%, which is greater than KIE's maximum drawdown of -75.30%. Use the drawdown chart below to compare losses from any high point for IYG and KIE.

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Drawdown Indicators

IYGKIEDifference

Max Drawdown

Largest peak-to-trough decline

-81.84%

-75.30%

-6.54%

Max Drawdown (1Y)

Largest decline over 1 year

-15.90%

-11.81%

-4.09%

Max Drawdown (3Y)

Largest decline over 3 years

-18.54%

-12.65%

-5.89%

Max Drawdown (5Y)

Largest decline over 5 years

-29.62%

-15.68%

-13.94%

Max Drawdown (10Y)

Largest decline over 10 years

-44.32%

-44.31%

-0.01%

Current Drawdown

Current decline from peak

0.00%

-3.61%

+3.61%

Average Drawdown

Average peak-to-trough decline

-20.67%

-11.99%

-8.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.27%

4.72%

+1.55%

Volatility

IYG vs. KIE - Volatility Comparison

The current volatility for iShares U.S. Financial Services ETF (IYG) is 4.34%, while SPDR S&P Insurance ETF (KIE) has a volatility of 6.57%. This indicates that IYG experiences smaller price fluctuations and is considered to be less risky than KIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IYGKIEDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.34%

6.57%

-2.23%

Volatility (6M)

Calculated over the trailing 6-month period

12.24%

12.96%

-0.72%

Volatility (1Y)

Calculated over the trailing 1-year period

15.76%

16.87%

-1.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.41%

18.44%

+1.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.37%

21.17%

+2.20%

IYG vs. KIE - Expense Ratio Comparison

IYG has a 0.42% expense ratio, which is higher than KIE's 0.35% expense ratio.

Dividends

IYG vs. KIE - Dividend Comparison

IYG's dividend yield for the trailing twelve months is around 1.03%, less than KIE's 1.57% yield.

PositionTTM20252024202320222021202020192018201720162015
IYG
iShares U.S. Financial Services ETF		1.03%1.00%1.16%1.77%2.07%1.25%1.71%1.59%1.81%1.24%1.28%1.33%
KIE
SPDR S&P Insurance ETF		1.57%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

IYG and KIE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KIE has higher volatility (6.57%) compared to IYG (4.34%). In terms of maximum drawdown, IYG dropped -81.84% vs KIE's -75.30%.

On 10-year performance, IYG leads with 14.86% vs 12.01% for KIE. On fees, KIE is cheaper at 0.35% per year. On volatility, IYG has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYG has performed better with a 14.86% return vs 12.01%. 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 0.42% for IYG.

KIE has the higher dividend yield at 1.57%, compared with 1.03% for IYG.

IYG tracks Dow Jones U.S. Financial Services TR, while KIE tracks S&P Insurance Select Industry Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.42% for IYG and 0.35% for KIE.

IYG currently has the higher Sharpe Ratio (0.85 vs 0.71), 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

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