KBE vs. GS
KBE (SPDR S&P Bank ETF) is Financials Equities fund tracking the S&P Banks Select Industry Index, while GS (The Goldman Sachs Group, Inc.) is a stock. Over the past 10 years, KBE returned 11.09%/yr vs 25.22%/yr for GS. A 0.72 correlation means they provide meaningful diversification when combined.
Performance
KBE vs. GS - Performance Comparison
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Returns By Period
In the year-to-date period, KBE achieves a 11.37% return, which is significantly lower than GS's 25.72% return. Over the past 10 years, KBE has underperformed GS with an annualized return of 11.09%, while GS has yielded a comparatively higher 25.22% annualized return.
KBE
- 1D
- 1.33%
- 1M
- 5.76%
- YTD
- 11.37%
- 6M
- 8.58%
- 1Y
- 26.10%
- 3Y*
- 27.71%
- 5Y*
- 8.00%
- 10Y*
- 11.09%
GS
- 1D
- -1.08%
- 1M
- 10.29%
- YTD
- 25.72%
- 6M
- 22.55%
- 1Y
- 72.59%
- 3Y*
- 55.10%
- 5Y*
- 27.35%
- 10Y*
- 25.22%
KBE vs. GS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KBE SPDR S&P Bank ETF | 11.37% | 12.36% | 23.78% | 5.30% | -14.83% | 33.46% | -8.75% | 29.78% | -19.65% | 10.49% |
GS The Goldman Sachs Group, Inc. | 25.72% | 56.64% | 52.03% | 15.91% | -7.87% | 47.61% | 17.45% | 40.48% | -33.53% | 7.73% |
Correlation
The correlation between KBE and GS is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2005 | 0.72 |
Over the past year, the correlation between KBE and GS has dropped to 0.51 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.
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Return for Risk
KBE vs. GS — Risk / Return Rank
KBE
GS
KBE vs. GS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Bank ETF (KBE) and The Goldman Sachs Group, Inc. (GS). 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.
| KBE | GS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.35 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.41 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 3.76 | -1.96 |
| Martin ratioReturn relative to average drawdown | 4.71 | 12.47 | -7.76 |
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Drawdowns
KBE vs. GS - Drawdown Comparison
The maximum KBE drawdown since its inception was -83.15%, which is greater than GS's maximum drawdown of -78.84%. Use the drawdown chart below to compare losses from any high point for KBE and GS.
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Drawdown Indicators
| KBE | GS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.15% | -78.84% | -4.31% |
Max Drawdown (1Y)Largest decline over 1 year | -14.63% | -19.42% | +4.79% |
Max Drawdown (3Y)Largest decline over 3 years | -25.97% | -30.90% | +4.93% |
Max Drawdown (5Y)Largest decline over 5 years | -45.25% | -32.84% | -12.41% |
Max Drawdown (10Y)Largest decline over 10 years | -53.14% | -48.75% | -4.39% |
Current DrawdownCurrent decline from peak | 0.00% | -1.08% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -27.47% | -22.63% | -4.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 5.84% | -0.28% |
Volatility
KBE vs. GS - Volatility Comparison
The current volatility for SPDR S&P Bank ETF (KBE) is 5.85%, while The Goldman Sachs Group, Inc. (GS) has a volatility of 10.15%. This indicates that KBE experiences smaller price fluctuations and is considered to be less risky than GS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBE | GS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.85% | 10.15% | -4.30% |
Volatility (6M)Calculated over the trailing 6-month period | 15.12% | 23.25% | -8.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.63% | 28.43% | -6.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.25% | 28.04% | -0.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.77% | 29.78% | -0.01% |
Dividends
KBE vs. GS - Dividend Comparison
KBE's dividend yield for the trailing twelve months is around 2.19%, more than GS's 1.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GS The Goldman Sachs Group, Inc. | 1.55% | 1.59% | 2.01% | 2.72% | 2.62% | 1.70% | 1.90% | 1.80% | 1.89% | 1.14% | 1.09% | 1.41% |
KBE SPDR S&P Bank ETF | 2.19% | 2.51% | 2.35% | 2.78% | 2.99% | 2.16% | 2.44% | 2.33% | 2.18% | 1.36% | 1.39% | 1.70% |
Frequently Asked Questions
KBE and GS have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GS has higher volatility (10.15%) compared to KBE (5.85%). In terms of maximum drawdown, KBE dropped -83.15% vs GS's -78.84%.
GS currently has the higher Sharpe Ratio (2.57 vs 1.22), 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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