KBE vs. QABA

Last updated Jun 4, 2026

KBE (SPDR S&P Bank ETF) and QABA (First Trust NASDAQ ABA Community Bank Index Fund) are both Financials Equities funds - KBE tracks the S&P Banks Select Industry Index while QABA tracks the NASDAQ OMX ABA Community Bank Index. Both are passively managed. Over the past 10 years, KBE returned 9.19%/yr vs 6.80%/yr for QABA. Their correlation of 0.92 suggests significant overlap in exposure. KBE charges 0.35%/yr vs 0.60%/yr for QABA.

Performance

KBE vs. QABA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Bank ETF (KBE) and First Trust NASDAQ ABA Community Bank Index Fund (QABA). 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 QABA's 8.16% return. Over the past 10 years, KBE has outperformed QABA with an annualized return of 9.19%, while QABA has yielded a comparatively lower 6.80% 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%

QABA

• 1D: -2.39%
• 1M: -0.32%
• YTD: 8.16%
• 6M: 7.37%
• 1Y: 18.48%
• 3Y*: 17.46%
• 5Y*: 3.09%
• 10Y*: 6.80%

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

KBE vs. QABA - 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%
QABA First Trust NASDAQ ABA Community Bank Index Fund	8.16%	4.62%	14.49%	-2.18%	-9.01%	34.20%	-10.70%	22.85%	-16.47%	0.75%

Correlation

The correlation between KBE and QABA is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jul 2, 2009	0.92

The correlation between KBE and QABA has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

KBE vs. QABA - Sectors Allocation Comparison

Sectors	KBE	QABA
Financial Services	100.0%	99.7%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	0.3%
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

KBE vs. QABA — 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

QABA

QABA Risk / Return Rank: 26
QABA Sharpe Ratio Rank: 24
QABA Sortino Ratio Rank: 24
QABA Omega Ratio Rank: 24
QABA Calmar Ratio Rank: 30
QABA Martin Ratio Rank: 27

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. QABA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Bank ETF (KBE) and First Trust NASDAQ ABA Community Bank Index Fund (QABA). 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	QABA	Difference
Sharpe ratio Return per unit of total volatility	0.87	0.83	+0.05
Sortino ratio Return per unit of downside risk	1.32	1.30	+0.02
Omega ratio Gain probability vs. loss probability	1.17	1.16	+0.01
Calmar ratio Return relative to maximum drawdown	1.29	1.49	-0.20
Martin ratio Return relative to average drawdown	3.39	3.69	-0.30
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. QABA - Sharpe Ratio Comparison

The current KBE Sharpe Ratio is 0.87, which is comparable to the QABA Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of KBE and QABA, 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	QABA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	0.83	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.12	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.24	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.34	-0.24

Drawdowns

KBE vs. QABA - Drawdown Comparison

The maximum KBE drawdown since its inception was -83.15%, which is greater than QABA's maximum drawdown of -49.30%. Use the drawdown chart below to compare losses from any high point for KBE and QABA.

Drawdown Indicators

	KBE	QABA	Difference
Max Drawdown Largest peak-to-trough decline	-83.15%	-49.30%	-33.85%
Max Drawdown (1Y) Largest decline over 1 year	-14.63%	-12.49%	-2.14%
Max Drawdown (3Y) Largest decline over 3 years	-25.97%	-25.82%	-0.15%
Max Drawdown (5Y) Largest decline over 5 years	-45.25%	-42.93%	-2.32%
Max Drawdown (10Y) Largest decline over 10 years	-53.14%	-49.30%	-3.84%
Current Drawdown Current decline from peak	-7.38%	-4.25%	-3.13%
Average Drawdown Average peak-to-trough decline	-27.54%	-11.43%	-16.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.55%	5.02%	+0.53%

Volatility

KBE vs. QABA - Volatility Comparison

SPDR S&P Bank ETF (KBE) and First Trust NASDAQ ABA Community Bank Index Fund (QABA) have volatilities of 5.65% and 5.63%, 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.

Volatility by Period

	KBE	QABA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	5.63%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	14.93%	15.22%	-0.29%
Volatility (1Y) Calculated over the trailing 1-year period	21.62%	22.50%	-0.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.36%	26.50%	+0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.85%	28.69%	+1.16%

KBE vs. QABA - Expense Ratio Comparison

KBE has a 0.35% expense ratio, which is lower than QABA's 0.60% expense ratio.

Dividends

KBE vs. QABA - Dividend Comparison

KBE's dividend yield for the trailing twelve months is around 2.39%, which matches QABA's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
QABA First Trust NASDAQ ABA Community Bank Index Fund	2.40%	2.52%	2.37%	2.71%	2.10%	1.68%	2.55%	1.95%	1.90%	1.42%	1.13%	1.39%

Frequently Asked Questions

Can I hold both KBE and QABA in my portfolio?

With a correlation of 0.96, KBE and QABA 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.

Which is riskier, KBE or QABA?

KBE has higher volatility (5.65%) compared to QABA (5.63%). In terms of maximum drawdown, KBE dropped -83.15% vs QABA's -49.30%.

Which ETF is better, KBE or QABA?

On 10-year performance, KBE leads with 9.19% vs 6.80% for QABA. On fees, KBE 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.

Which ETF has performed better, KBE or QABA?

Over the 10-year period, KBE has performed better with a 9.19% return vs 6.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KBE or QABA?

KBE is cheaper with a 0.35% expense ratio, compared with 0.60% for QABA.

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

KBE and QABA have nearly identical dividend yields, around 2.39%.

What is the main difference between KBE and QABA?

KBE tracks S&P Banks Select Industry Index, while QABA tracks NASDAQ OMX ABA Community Bank Index. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.35% for KBE and 0.60% for QABA.

Which has better risk-adjusted returns?

KBE currently has the higher Sharpe Ratio (0.87 vs 0.83), 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.