KBWB vs. KCE
Compare and contrast key facts about Invesco KBW Bank ETF (KBWB) and SPDR S&P Capital Markets ETF (KCE).
KBWB and KCE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KBWB is a passively managed fund by Invesco that tracks the performance of the KBW Nasdaq Bank Index. It was launched on Nov 1, 2011. KCE is a passively managed fund by State Street that tracks the performance of the S&P Capital Markets Select Industry Index. It was launched on Nov 8, 2005. Both KBWB and KCE 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
KBWB vs. KCE - Performance Comparison
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KBWB vs. KCE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KBWB Invesco KBW Bank ETF | -5.53% | 32.05% | 36.73% | -1.18% | -21.68% | 37.72% | -10.46% | 35.90% | -18.30% | 18.11% |
KCE SPDR S&P Capital Markets ETF | -7.74% | 10.76% | 37.51% | 32.04% | -22.14% | 40.05% | 30.82% | 27.13% | -15.63% | 32.01% |
Returns By Period
In the year-to-date period, KBWB achieves a -5.53% return, which is significantly higher than KCE's -7.74% return. Over the past 10 years, KBWB has underperformed KCE with an annualized return of 11.89%, while KCE has yielded a comparatively higher 15.87% annualized return.
KBWB
- 1D
- 3.56%
- 1M
- -2.73%
- YTD
- -5.53%
- 6M
- 2.34%
- 1Y
- 29.02%
- 3Y*
- 27.16%
- 5Y*
- 7.87%
- 10Y*
- 11.89%
KCE
- 1D
- 2.64%
- 1M
- -4.53%
- YTD
- -7.74%
- 6M
- -9.06%
- 1Y
- 11.03%
- 3Y*
- 20.54%
- 5Y*
- 11.98%
- 10Y*
- 15.87%
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KBWB vs. KCE - Expense Ratio Comparison
Both KBWB and KCE have an expense ratio of 0.35%.
Return for Risk
KBWB vs. KCE — Risk / Return Rank
KBWB
KCE
KBWB vs. KCE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco KBW Bank ETF (KBWB) and SPDR S&P Capital Markets ETF (KCE). 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.
| KBWB | KCE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.12 | 0.43 | +0.69 |
Sortino ratioReturn per unit of downside risk | 1.53 | 0.75 | +0.78 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.10 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 1.88 | 0.66 | +1.22 |
Martin ratioReturn relative to average drawdown | 5.58 | 1.76 | +3.82 |
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
| KBWB | KCE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.12 | 0.43 | +0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.52 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.69 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.24 | +0.23 |
Correlation
The correlation between KBWB and KCE is 0.82, 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
KBWB vs. KCE - Dividend Comparison
KBWB's dividend yield for the trailing twelve months is around 2.27%, more than KCE's 1.87% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWB Invesco KBW Bank ETF | 2.27% | 2.04% | 2.46% | 3.20% | 3.05% | 2.13% | 2.62% | 2.38% | 2.54% | 1.35% | 1.53% | 1.53% |
KCE SPDR S&P Capital Markets ETF | 1.87% | 1.63% | 1.56% | 1.82% | 2.42% | 1.53% | 2.20% | 2.32% | 2.67% | 1.95% | 2.30% | 2.43% |
Drawdowns
KBWB vs. KCE - Drawdown Comparison
The maximum KBWB drawdown since its inception was -50.27%, smaller than the maximum KCE drawdown of -74.00%. Use the drawdown chart below to compare losses from any high point for KBWB and KCE.
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Drawdown Indicators
| KBWB | KCE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.27% | -74.00% | +23.73% |
Max Drawdown (1Y)Largest decline over 1 year | -16.38% | -17.44% | +1.06% |
Max Drawdown (5Y)Largest decline over 5 years | -49.31% | -34.45% | -14.86% |
Max Drawdown (10Y)Largest decline over 10 years | -50.27% | -40.78% | -9.49% |
Current DrawdownCurrent decline from peak | -12.21% | -14.34% | +2.13% |
Average DrawdownAverage peak-to-trough decline | -11.82% | -22.94% | +11.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.51% | 6.49% | -0.98% |
Volatility
KBWB vs. KCE - Volatility Comparison
Invesco KBW Bank ETF (KBWB) and SPDR S&P Capital Markets ETF (KCE) have volatilities of 6.61% and 6.33%, 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.
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Volatility by Period
| KBWB | KCE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.61% | 6.33% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 15.99% | 15.64% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.00% | 25.68% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.65% | 22.97% | +3.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.25% | 23.21% | +6.04% |