KCE vs. PBEU
KCE (SPDR S&P Capital Markets ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both Financials Equities funds - KCE tracks the S&P Capital Markets Select Industry Index while PBEU tracks the BITA European Banks Index. Both are passively managed. Their 0.52 correlation means they have sometimes moved together and sometimes differently. KCE charges 0.35%/yr vs 0.13%/yr for PBEU.
Performance
KCE vs. PBEU - Performance Comparison
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Returns By Period
In the year-to-date period, KCE achieves a 10.39% return, which is significantly lower than PBEU's 23.70% return.
KCE
- 1D
- 2.41%
- 1M
- 6.88%
- 6M
- 6.20%
- YTD
- 10.39%
- 1Y
- 11.58%
- 3Y*
- 24.32%
- 5Y*
- 13.62%
- 10Y*
- 17.63%
- ALL TIME*
- 7.76%
PBEU
- 1D
- 1.56%
- 1M
- 7.27%
- 6M
- 13.44%
- YTD
- 23.70%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.49M | $2.29M | $2.43M | |
| $1.75M | $1.59M | $5.53M |
KCE vs. PBEU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KCE SPDR S&P Capital Markets ETF | 10.39% | 6.71% |
PBEU Portfolio Building Block European Banks Index ETF | 23.70% | 11.42% |
Correlation
The correlation between KCE and PBEU is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025 | 0.52 |
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Return for Risk
KCE vs. PBEU — Risk / Return Rank
KCE
PBEU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
KCE vs. PBEU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Capital Markets ETF (KCE) and Portfolio Building Block European Banks Index ETF (PBEU). 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.
| KCE | PBEU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.11 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | — | — |
| Martin ratioReturn relative to average drawdown | 1.70 | — | — |
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Drawdowns
KCE vs. PBEU - Drawdown Comparison
The maximum KCE drawdown since its inception was -74.00%, which is greater than PBEU's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for KCE and PBEU.
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Drawdown Indicators
| KCE | PBEU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.00% | -17.26% | -56.74% |
Max Drawdown (1Y)Largest decline over 1 year | -17.44% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -26.31% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -34.45% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.78% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -22.65% | -3.52% | -19.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.84% | — | — |
Volatility
KCE vs. PBEU - Volatility Comparison
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Volatility by Period
| KCE | PBEU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.71% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 16.07% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.73% | 27.31% | -6.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.16% | 27.31% | -4.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.89% | 27.31% | -4.42% |
KCE vs. PBEU - Expense Ratio Comparison
KCE has a 0.35% expense ratio, which is higher than PBEU's 0.13% expense ratio.
Dividends
KCE vs. PBEU - Dividend Comparison
KCE's dividend yield for the trailing twelve months is around 1.63%, more than PBEU's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KCE SPDR S&P Capital Markets ETF | 1.63% | 1.63% | 1.56% | 1.82% | 2.42% | 1.53% | 2.20% | 2.32% | 2.67% | 1.95% | 2.30% | 2.43% |
PBEU Portfolio Building Block European Banks Index ETF | 0.01% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KCE and PBEU have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBEU is cheaper with a 0.13% expense ratio, compared with 0.35% for KCE.
KCE has the higher dividend yield at 1.63%, compared with 0.01% for PBEU.
KCE tracks S&P Capital Markets Select Industry Index, while PBEU tracks BITA European Banks Index. They also come from different issuers: State Street and Portfolio Building Block. Their fees differ too: 0.35% for KCE and 0.13% for PBEU.
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