KBE vs. ITOT

Last updated Jun 4, 2026

KBE (SPDR S&P Bank ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both exchange-traded funds - KBE is a Financials Equities fund tracking the S&P Banks Select Industry Index, while ITOT is a Large Cap Blend Equities fund tracking the S&P Total Market Index. Both are passively managed. Over the past 10 years, KBE returned 9.19%/yr vs 15.01%/yr for ITOT. A 0.72 correlation means they provide meaningful diversification when combined. KBE charges 0.35%/yr vs 0.03%/yr for ITOT.

Performance

KBE vs. ITOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Bank ETF (KBE) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KBE achieves a 2.87% return, which is significantly lower than ITOT's 11.25% return. Over the past 10 years, KBE has underperformed ITOT with an annualized return of 9.19%, while ITOT has yielded a comparatively higher 15.01% annualized return.

KBE

• 1D: -2.28%
• 1M: -1.94%
• YTD: 2.87%
• 6M: 4.27%
• 1Y: 18.75%
• 3Y*: 22.67%
• 5Y*: 5.28%
• 10Y*: 9.19%

ITOT

• 1D: -0.73%
• 1M: 5.01%
• YTD: 11.25%
• 6M: 11.12%
• 1Y: 28.12%
• 3Y*: 22.09%
• 5Y*: 12.69%
• 10Y*: 15.01%

*Multi-year figures are annualized to reflect compound growth (CAGR)

KBE vs. ITOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KBE SPDR S&P Bank ETF	2.87%	12.36%	23.78%	5.30%	-14.83%	33.46%	-8.75%	29.78%	-19.65%	10.49%
ITOT iShares Core S&P Total U.S. Stock Market ETF	11.25%	17.00%	23.80%	26.12%	-19.47%	25.68%	20.71%	30.67%	-5.33%	21.37%

Correlation

The correlation between KBE and ITOT is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Nov 16, 2005	0.72

The correlation between KBE and ITOT shifts across timeframes, from 0.56 (1 year) to 0.72 (all time), reflecting how their relationship changes across market environments.

KBE vs. ITOT - Sectors Allocation Comparison

Sectors	KBE	ITOT
Financial Services	100.0%	12.1%
Basic Materials	-	2.1%
Communication Services	-	10.3%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.7%
Energy	-	3.7%
Healthcare	-	9.0%
Industrials	-	9.5%
Real Estate	-	2.4%
Technology	-	33.8%
Utilities	-	2.3%

Return for Risk

KBE vs. ITOT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KBE

KBE Risk / Return Rank: 25
KBE Sharpe Ratio Rank: 24
KBE Sortino Ratio Rank: 24
KBE Omega Ratio Rank: 25
KBE Calmar Ratio Rank: 26
KBE Martin Ratio Rank: 25

ITOT

ITOT Risk / Return Rank: 68
ITOT Sharpe Ratio Rank: 69
ITOT Sortino Ratio Rank: 68
ITOT Omega Ratio Rank: 67
ITOT Calmar Ratio Rank: 63
ITOT Martin Ratio Rank: 75

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.

KBE vs. ITOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Bank ETF (KBE) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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	ITOT	Difference
Sharpe ratio: Return per unit of total volatility	0.87	2.32	-1.45
Sortino ratio: Return per unit of downside risk	1.32	3.17	-1.86
Omega ratio: Gain probability vs. loss probability	1.17	1.42	-0.25
Calmar ratio: Return relative to maximum drawdown	1.29	3.17	-1.89
Martin ratio: Return relative to average drawdown	3.39	14.57	-11.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KBE vs. ITOT - Sharpe Ratio Comparison

The current KBE Sharpe Ratio is 0.87, which is lower than the ITOT Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of KBE and ITOT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KBE	ITOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	2.32	-1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.74	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.82	-0.52
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.57	-0.47

Drawdowns

KBE vs. ITOT - Drawdown Comparison

The maximum KBE drawdown since its inception was -83.15%, which is greater than ITOT's maximum drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for KBE and ITOT.

Drawdown Indicators

	KBE	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-83.15%	-55.20%	-27.95%
Max Drawdown (1Y) Largest decline over 1 year	-14.63%	-8.90%	-5.73%
Max Drawdown (3Y) Largest decline over 3 years	-25.97%	-19.44%	-6.53%
Max Drawdown (5Y) Largest decline over 5 years	-45.25%	-25.36%	-19.89%
Max Drawdown (10Y) Largest decline over 10 years	-53.14%	-35.00%	-18.14%
Current Drawdown Current decline from peak	-7.38%	-0.73%	-6.65%
Average Drawdown Average peak-to-trough decline	-27.54%	-6.97%	-20.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.55%	1.94%	+3.61%

Volatility

KBE vs. ITOT - Volatility Comparison

SPDR S&P Bank ETF (KBE) has a higher volatility of 5.65% compared to iShares Core S&P Total U.S. Stock Market ETF (ITOT) at 2.99%. This indicates that KBE's price experiences larger fluctuations and is considered to be riskier than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KBE	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	2.99%	+2.66%
Volatility (6M) Calculated over the trailing 6-month period	14.93%	9.13%	+5.80%
Volatility (1Y) Calculated over the trailing 1-year period	21.62%	12.20%	+9.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.36%	17.36%	+10.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.85%	18.26%	+11.59%

KBE vs. ITOT - Expense Ratio Comparison

KBE has a 0.35% expense ratio, which is higher than ITOT's 0.03% expense ratio.

Dividends

KBE vs. ITOT - Dividend Comparison

KBE's dividend yield for the trailing twelve months is around 2.39%, more than ITOT's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITOT iShares Core S&P Total U.S. Stock Market ETF	0.98%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%
KBE SPDR S&P Bank ETF	2.39%	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

Can I hold both KBE and ITOT in my portfolio?

KBE and ITOT have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KBE or ITOT?

KBE has higher volatility (5.65%) compared to ITOT (2.99%). In terms of maximum drawdown, KBE dropped -83.15% vs ITOT's -55.20%.

Which ETF is better, KBE or ITOT?

On 10-year performance, ITOT leads with 15.01% vs 9.19% for KBE. On fees, ITOT is cheaper at 0.03% per year. On volatility, ITOT has been the lower-risk option at 2.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KBE or ITOT?

Over the 10-year period, ITOT has performed better with a 15.01% return vs 9.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KBE or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 0.35% for KBE.

Which ETF pays a higher dividend yield, KBE or ITOT?

KBE has the higher dividend yield at 2.39%, compared with 0.98% for ITOT.

What is the main difference between KBE and ITOT?

KBE is categorized as Financials Equities, while ITOT is Large Cap Blend Equities. KBE tracks S&P Banks Select Industry Index, while ITOT tracks S&P Total Market Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for KBE and 0.03% for ITOT.

Which has better risk-adjusted returns?

ITOT currently has the higher Sharpe Ratio (2.32 vs 0.87), 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.