KCE vs. QBTS
KCE (SPDR S&P Capital Markets ETF) is Financials Equities fund tracking the S&P Capital Markets Select Industry Index, while QBTS (D-Wave Quantum Inc) is a stock. Over the past 3 years, KCE returned 24.58%/yr vs 123.62%/yr for QBTS. At a 0.31 correlation, their price movements are largely independent.
Performance
KCE vs. QBTS - Performance Comparison
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Returns By Period
In the year-to-date period, KCE achieves a 3.66% return, which is significantly higher than QBTS's -10.63% return.
KCE
- 1D
- 1.60%
- 1M
- 1.26%
- YTD
- 3.66%
- 6M
- 2.73%
- 1Y
- 14.27%
- 3Y*
- 24.58%
- 5Y*
- 12.87%
- 10Y*
- 17.65%
QBTS
- 1D
- -1.89%
- 1M
- 9.00%
- YTD
- -10.63%
- 6M
- -10.46%
- 1Y
- 47.17%
- 3Y*
- 123.62%
- 5Y*
- —
- 10Y*
- —
KCE vs. QBTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
KCE SPDR S&P Capital Markets ETF | 3.66% | 10.76% | 37.51% | 32.04% | -4.69% |
QBTS D-Wave Quantum Inc | -10.63% | 211.31% | 854.44% | -38.88% | -83.96% |
Correlation
The correlation between KCE and QBTS is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Aug 8, 2022 | 0.31 |
The correlation between KCE and QBTS shifts across timeframes, from 0.31 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
KCE vs. QBTS — Risk / Return Rank
KCE
QBTS
KCE vs. QBTS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Capital Markets ETF (KCE) and D-Wave Quantum Inc (QBTS). 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 | QBTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.16 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 0.67 | +0.15 |
| Martin ratioReturn relative to average drawdown | 2.14 | 1.16 | +0.97 |
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Drawdowns
KCE vs. QBTS - Drawdown Comparison
The maximum KCE drawdown since its inception was -74.00%, smaller than the maximum QBTS drawdown of -96.67%. Use the drawdown chart below to compare losses from any high point for KCE and QBTS.
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Drawdown Indicators
| KCE | QBTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.00% | -96.67% | +22.67% |
Max Drawdown (1Y)Largest decline over 1 year | -17.44% | -71.01% | +53.57% |
Max Drawdown (3Y)Largest decline over 3 years | -26.31% | -79.17% | +52.86% |
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 | -3.75% | -47.81% | +44.06% |
Average DrawdownAverage peak-to-trough decline | -22.78% | -65.66% | +42.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.70% | 40.64% | -33.94% |
Volatility
KCE vs. QBTS - Volatility Comparison
The current volatility for SPDR S&P Capital Markets ETF (KCE) is 6.04%, while D-Wave Quantum Inc (QBTS) has a volatility of 42.66%. This indicates that KCE experiences smaller price fluctuations and is considered to be less risky than QBTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KCE | QBTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.04% | 42.66% | -36.62% |
Volatility (6M)Calculated over the trailing 6-month period | 15.31% | 76.89% | -61.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.12% | 108.46% | -88.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.08% | 150.99% | -127.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.10% | 150.99% | -127.89% |
Dividends
KCE vs. QBTS - Dividend Comparison
KCE's dividend yield for the trailing twelve months is around 1.67%, while QBTS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KCE SPDR S&P Capital Markets ETF | 1.67% | 1.63% | 1.56% | 1.82% | 2.42% | 1.53% | 2.20% | 2.32% | 2.67% | 1.95% | 2.30% | 2.43% |
QBTS D-Wave Quantum Inc | 0.00% | 0.00% | 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 QBTS have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QBTS has higher volatility (42.66%) compared to KCE (6.04%). In terms of maximum drawdown, KCE dropped -74.00% vs QBTS's -96.67%.
KCE currently has the higher Sharpe Ratio (0.71 vs 0.44), 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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