KIE vs. EUFN

Last updated Jun 3, 2026

KIE (SPDR S&P Insurance ETF) and EUFN (iShares MSCI Europe Financials ETF) are both Financials Equities funds - KIE tracks the S&P Insurance Select Industry Index while EUFN tracks the MSCI Europe Financials Index. Both are passively managed. Over the past 10 years, KIE returned 10.60%/yr vs 12.21%/yr for EUFN. A 0.63 correlation means they provide meaningful diversification when combined. KIE charges 0.35%/yr vs 0.48%/yr for EUFN.

Performance

KIE vs. EUFN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Insurance ETF (KIE) and iShares MSCI Europe Financials ETF (EUFN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KIE achieves a -7.88% return, which is significantly lower than EUFN's 3.64% return. Over the past 10 years, KIE has underperformed EUFN with an annualized return of 10.60%, while EUFN has yielded a comparatively higher 12.21% annualized return.

KIE

• 1D: -0.38%
• 1M: -2.92%
• YTD: -7.88%
• 6M: -5.75%
• 1Y: -6.09%
• 3Y*: 13.55%
• 5Y*: 8.63%
• 10Y*: 10.60%

EUFN

• 1D: 0.39%
• 1M: 2.15%
• YTD: 3.64%
• 6M: 10.74%
• 1Y: 24.36%
• 3Y*: 31.81%
• 5Y*: 17.99%
• 10Y*: 12.21%

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

KIE vs. EUFN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KIE SPDR S&P Insurance ETF	-7.88%	8.12%	26.95%	12.18%	3.48%	22.75%	-3.04%	27.19%	-5.99%	12.83%
EUFN iShares MSCI Europe Financials ETF	3.64%	65.73%	17.20%	26.15%	-8.78%	19.13%	-8.55%	20.73%	-23.14%	26.94%

Correlation

The correlation between KIE and EUFN is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Feb 4, 2010	0.63

Over the past year, the correlation between KIE and EUFN has dropped to 0.36 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.

KIE vs. EUFN - Sectors Allocation Comparison

Sectors	KIE	EUFN
Financial Services	97.5%	97.3%
Healthcare	2.5%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	0.2%
Consumer Defensive	-	-
Energy	-	-
Industrials	-	0.4%
Real Estate	-	-
Technology	-	1.1%
Utilities	-	-

Return for Risk

KIE vs. EUFN — Risk / Return Rank

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

KIE

KIE Risk / Return Rank: 5
KIE Sharpe Ratio Rank: 5
KIE Sortino Ratio Rank: 5
KIE Omega Ratio Rank: 5
KIE Calmar Ratio Rank: 5
KIE Martin Ratio Rank: 3

EUFN

EUFN Risk / Return Rank: 35
EUFN Sharpe Ratio Rank: 35
EUFN Sortino Ratio Rank: 35
EUFN Omega Ratio Rank: 33
EUFN Calmar Ratio Rank: 35
EUFN Martin Ratio Rank: 39

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.

KIE vs. EUFN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Insurance ETF (KIE) and iShares MSCI Europe Financials ETF (EUFN). 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.

	KIE	EUFN	Difference
Sharpe ratio Return per unit of total volatility	-0.38	1.25	-1.63
Sortino ratio Return per unit of downside risk	-0.42	1.83	-2.26
Omega ratio Gain probability vs. loss probability	0.95	1.22	-0.27
Calmar ratio Return relative to maximum drawdown	-0.45	1.75	-2.20
Martin ratio Return relative to average drawdown	-1.11	6.17	-7.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KIE vs. EUFN - Sharpe Ratio Comparison

The current KIE Sharpe Ratio is -0.38, which is lower than the EUFN Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of KIE and EUFN, 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

	KIE	EUFN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.38	1.25	-1.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.83	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.50	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.27	+0.02

Drawdowns

KIE vs. EUFN - Drawdown Comparison

The maximum KIE drawdown since its inception was -75.30%, which is greater than EUFN's maximum drawdown of -53.25%. Use the drawdown chart below to compare losses from any high point for KIE and EUFN.

Drawdown Indicators

	KIE	EUFN	Difference
Max Drawdown Largest peak-to-trough decline	-75.30%	-53.25%	-22.05%
Max Drawdown (1Y) Largest decline over 1 year	-11.81%	-14.77%	+2.96%
Max Drawdown (3Y) Largest decline over 3 years	-12.65%	-15.95%	+3.30%
Max Drawdown (5Y) Largest decline over 5 years	-15.68%	-35.15%	+19.47%
Max Drawdown (10Y) Largest decline over 10 years	-44.31%	-53.25%	+8.94%
Current Drawdown Current decline from peak	-9.20%	-1.16%	-8.04%
Average Drawdown Average peak-to-trough decline	-12.05%	-14.56%	+2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.76%	4.21%	+0.55%

Volatility

KIE vs. EUFN - Volatility Comparison

The current volatility for SPDR S&P Insurance ETF (KIE) is 4.41%, while iShares MSCI Europe Financials ETF (EUFN) has a volatility of 7.15%. This indicates that KIE experiences smaller price fluctuations and is considered to be less risky than EUFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KIE	EUFN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	7.15%	-2.74%
Volatility (6M) Calculated over the trailing 6-month period	11.06%	16.43%	-5.37%
Volatility (1Y) Calculated over the trailing 1-year period	16.04%	19.67%	-3.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.35%	21.78%	-3.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.17%	24.55%	-3.38%

KIE vs. EUFN - Expense Ratio Comparison

KIE has a 0.35% expense ratio, which is lower than EUFN's 0.48% expense ratio.

Dividends

KIE vs. EUFN - Dividend Comparison

KIE's dividend yield for the trailing twelve months is around 1.68%, less than EUFN's 3.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUFN iShares MSCI Europe Financials ETF	3.45%	3.57%	5.36%	5.00%	4.24%	4.15%	1.38%	4.55%	6.48%	3.04%	4.03%	3.65%
KIE SPDR S&P Insurance ETF	1.68%	1.57%	1.48%	1.45%	1.90%	1.95%	1.85%	1.76%	1.83%	1.56%	1.55%	1.65%

Frequently Asked Questions

Can I hold both KIE and EUFN in my portfolio?

KIE and EUFN have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KIE or EUFN?

EUFN has higher volatility (7.15%) compared to KIE (4.41%). In terms of maximum drawdown, KIE dropped -75.30% vs EUFN's -53.25%.

Which ETF is better, KIE or EUFN?

On 10-year performance, EUFN leads with 12.21% vs 10.60% for KIE. On fees, KIE is cheaper at 0.35% per year. On volatility, KIE has been the lower-risk option at 4.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KIE or EUFN?

Over the 10-year period, EUFN has performed better with a 12.21% return vs 10.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KIE or EUFN?

KIE is cheaper with a 0.35% expense ratio, compared with 0.48% for EUFN.

Which ETF pays a higher dividend yield, KIE or EUFN?

EUFN has the higher dividend yield at 3.45%, compared with 1.68% for KIE.

What is the main difference between KIE and EUFN?

KIE tracks S&P Insurance Select Industry Index, while EUFN tracks MSCI Europe Financials Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for KIE and 0.48% for EUFN.

Which has better risk-adjusted returns?

EUFN currently has the higher Sharpe Ratio (1.25 vs -0.38), 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.