KBE vs. FNCL
Compare and contrast key facts about SPDR S&P Bank ETF (KBE) and Fidelity MSCI Financials Index ETF (FNCL).
KBE and FNCL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KBE is a passively managed fund by State Street that tracks the performance of the S&P Banks Select Industry Index. It was launched on Nov 8, 2005. FNCL is a passively managed fund by Fidelity that tracks the performance of the MSCI USA IMI Financials Index. It was launched on Oct 21, 2013. Both KBE and FNCL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
KBE vs. FNCL - Performance Comparison
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KBE vs. FNCL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KBE SPDR S&P Bank ETF | -1.31% | 12.36% | 23.78% | 5.30% | -14.83% | 33.46% | -8.75% | 29.78% | -19.65% | 10.49% |
FNCL Fidelity MSCI Financials Index ETF | -9.17% | 14.94% | 30.44% | 14.10% | -12.28% | 34.92% | -2.19% | 31.59% | -13.44% | 19.99% |
Returns By Period
In the year-to-date period, KBE achieves a -1.31% return, which is significantly higher than FNCL's -9.17% return. Over the past 10 years, KBE has underperformed FNCL with an annualized return of 9.58%, while FNCL has yielded a comparatively higher 12.25% annualized return.
KBE
- 1D
- 2.51%
- 1M
- -1.89%
- YTD
- -1.31%
- 6M
- 1.47%
- 1Y
- 15.33%
- 3Y*
- 20.45%
- 5Y*
- 5.49%
- 10Y*
- 9.58%
FNCL
- 1D
- 2.23%
- 1M
- -3.42%
- YTD
- -9.17%
- 6M
- -7.18%
- 1Y
- 2.69%
- 3Y*
- 17.96%
- 5Y*
- 9.30%
- 10Y*
- 12.25%
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KBE vs. FNCL - Expense Ratio Comparison
KBE has a 0.35% expense ratio, which is higher than FNCL's 0.08% expense ratio.
Return for Risk
KBE vs. FNCL — Risk / Return Rank
KBE
FNCL
KBE vs. FNCL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Bank ETF (KBE) and Fidelity MSCI Financials Index ETF (FNCL). 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.
| KBE | FNCL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.59 | 0.14 | +0.45 |
Sortino ratioReturn per unit of downside risk | 0.94 | 0.32 | +0.62 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.05 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.11 | 0.26 | +0.85 |
Martin ratioReturn relative to average drawdown | 2.83 | 0.79 | +2.04 |
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
| KBE | FNCL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | 0.14 | +0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.48 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 0.55 | -0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.52 | -0.43 |
Correlation
The correlation between KBE and FNCL is 0.90, 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.
Dividends
KBE vs. FNCL - Dividend Comparison
KBE's dividend yield for the trailing twelve months is around 2.49%, more than FNCL's 1.75% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBE SPDR S&P Bank ETF | 2.49% | 2.51% | 2.35% | 2.78% | 2.99% | 2.16% | 2.44% | 2.33% | 2.18% | 1.36% | 1.39% | 1.70% |
FNCL Fidelity MSCI Financials Index ETF | 1.75% | 1.45% | 1.52% | 1.91% | 2.29% | 1.75% | 2.26% | 2.17% | 2.37% | 1.60% | 1.81% | 2.17% |
Drawdowns
KBE vs. FNCL - Drawdown Comparison
The maximum KBE drawdown since its inception was -83.15%, which is greater than FNCL's maximum drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for KBE and FNCL.
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Drawdown Indicators
| KBE | FNCL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.15% | -44.38% | -38.77% |
Max Drawdown (1Y)Largest decline over 1 year | -14.63% | -14.78% | +0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -45.25% | -25.68% | -19.57% |
Max Drawdown (10Y)Largest decline over 10 years | -53.14% | -44.38% | -8.76% |
Current DrawdownCurrent decline from peak | -11.14% | -11.94% | +0.80% |
Average DrawdownAverage peak-to-trough decline | -27.72% | -6.89% | -20.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.76% | 4.92% | +0.84% |
Volatility
KBE vs. FNCL - Volatility Comparison
SPDR S&P Bank ETF (KBE) has a higher volatility of 5.27% compared to Fidelity MSCI Financials Index ETF (FNCL) at 4.88%. This indicates that KBE's price experiences larger fluctuations and is considered to be riskier than FNCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBE | FNCL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.27% | 4.88% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 16.69% | 11.75% | +4.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.13% | 20.02% | +6.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.44% | 19.34% | +8.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.90% | 22.35% | +7.55% |