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KIE vs. IAK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KIE vs. IAK

Last updated Jun 23, 2026

KIE (SPDR S&P Insurance ETF) and IAK (iShares U.S. Insurance ETF) are both Financials Equities funds - KIE tracks the S&P Insurance Select Industry Index while IAK tracks the Dow Jones U.S. Select Insurance Index. Both are passively managed. Over the past 10 years, KIE returned 11.80%/yr vs 12.95%/yr for IAK. Their correlation of 0.95 suggests significant overlap in exposure. KIE charges 0.35%/yr vs 0.38%/yr for IAK.

Performance

KIE vs. IAK - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, KIE achieves a -2.30% return, which is significantly lower than IAK's 1.39% return. Over the past 10 years, KIE has underperformed IAK with an annualized return of 11.80%, while IAK has yielded a comparatively higher 12.95% annualized return.

KIE

1D
0.42%
1M
1.48%
YTD
-2.30%
6M
-3.66%
1Y
0.88%
3Y*
15.65%
5Y*
10.78%
10Y*
11.80%

IAK

1D
0.87%
1M
1.38%
YTD
1.39%
6M
0.55%
1Y
5.45%
3Y*
18.83%
5Y*
14.31%
10Y*
12.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

KIE vs. IAK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
KIE
SPDR S&P Insurance ETF		-2.30%8.12%26.95%12.18%3.48%22.75%-3.04%27.19%-5.99%12.83%
IAK
iShares U.S. Insurance ETF		1.39%9.50%28.25%11.28%11.33%26.84%-2.86%25.94%-11.48%14.18%

Correlation

The correlation between KIE and IAK is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.91

Correlation (3Y)
Calculated over the trailing 3-year period

0.93

Correlation (5Y)
Calculated over the trailing 5-year period

0.95

Correlation (10Y)
Calculated over the trailing 10-year period

0.95

Correlation (All Time)
Calculated using the full available price history since May 5, 2006

0.95

The correlation between KIE and IAK has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

KIE vs. IAK - Sectors Allocation Comparison

Sectors
KIE
IAK

Financial Services

96.9%
99.4%

Healthcare

3.1%
0.6%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

KIE
96.9%
IAK
99.4%

Healthcare

KIE
3.1%
IAK
0.6%

Basic Materials

KIE

-

IAK

-

Communication Services

KIE

-

IAK

-

Consumer Cyclical

KIE

-

IAK

-

Consumer Defensive

KIE

-

IAK

-

Energy

KIE

-

IAK

-

Industrials

KIE

-

IAK

-

Real Estate

KIE

-

IAK

-

Technology

KIE

-

IAK

-

Utilities

KIE

-

IAK

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR S&P Insurance ETF

iShares U.S. Insurance ETF

Often compared with KIE:
KIE vs. KBWPKIE vs. XLFKIE vs. IAIKIE vs. RNRKIE vs. PAVEKIE vs. JQUAKIE vs. SCHH
Often compared with IAK:
IAK vs. KBWPIAK vs. IHEIAK vs. DIVBIAK vs. INFLIAK vs. VYMIAK vs. ^SP500TRIAK vs. VTI

Return for Risk

KIE vs. IAK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
KIE
KIE Risk / Return Rank: 99
Overall Rank
KIE Sharpe Ratio Rank: 99
Sharpe Ratio Rank
KIE Sortino Ratio Rank: 99
Sortino Ratio Rank
KIE Omega Ratio Rank: 88
Omega Ratio Rank
KIE Calmar Ratio Rank: 99
Calmar Ratio Rank
KIE Martin Ratio Rank: 99
Martin Ratio Rank
IAK
IAK Risk / Return Rank: 1414
Overall Rank
IAK Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
IAK Sortino Ratio Rank: 1313
Sortino Ratio Rank
IAK Omega Ratio Rank: 1212
Omega Ratio Rank
IAK Calmar Ratio Rank: 1717
Calmar Ratio Rank
IAK Martin Ratio Rank: 1616
Martin Ratio Rank
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. IAK - Risk-Adjusted Trends Comparison

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

KIEIAKDifference
Sharpe ratioReturn per unit of total volatility
0.05
0.36

-0.31

Sortino ratioReturn per unit of downside risk
0.19
0.60

-0.41

Omega ratioGain probability vs. loss probability

1.02

1.07

-0.05

Calmar ratioReturn relative to maximum drawdown

0.07

0.72

-0.64

Martin ratioReturn relative to average drawdown

0.18

1.60

-1.42

KIE vs. IAK - Sharpe Ratio Comparison

The current KIE Sharpe Ratio is 0.05, which is lower than the IAK Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of KIE and IAK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

KIE vs. IAK - Drawdown Comparison

The maximum KIE drawdown since its inception was -75.30%, roughly equal to the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for KIE and IAK.

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Drawdown Indicators

KIEIAKDifference

Max Drawdown

Largest peak-to-trough decline

-75.30%

-77.38%

+2.08%

Max Drawdown (1Y)

Largest decline over 1 year

-11.81%

-7.62%

-4.19%

Max Drawdown (3Y)

Largest decline over 3 years

-12.65%

-11.58%

-1.07%

Max Drawdown (5Y)

Largest decline over 5 years

-15.68%

-14.76%

-0.92%

Max Drawdown (10Y)

Largest decline over 10 years

-44.31%

-44.95%

+0.64%

Current Drawdown

Current decline from peak

-3.71%

-0.20%

-3.51%

Average Drawdown

Average peak-to-trough decline

-12.03%

-16.10%

+4.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.92%

3.41%

+1.51%

Volatility

KIE vs. IAK - Volatility Comparison

SPDR S&P Insurance ETF (KIE) and iShares U.S. Insurance ETF (IAK) have volatilities of 5.39% and 5.21%, 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

KIEIAKDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.39%

5.21%

+0.18%

Volatility (6M)

Calculated over the trailing 6-month period

11.63%

10.44%

+1.19%

Volatility (1Y)

Calculated over the trailing 1-year period

16.32%

15.05%

+1.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.35%

18.03%

+0.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.21%

20.92%

+0.29%

KIE vs. IAK - Expense Ratio Comparison

KIE has a 0.35% expense ratio, which is lower than IAK's 0.38% expense ratio.

Dividends

KIE vs. IAK - Dividend Comparison

KIE's dividend yield for the trailing twelve months is around 1.96%, less than IAK's 2.63% yield.

PositionTTM20252024202320222021202020192018201720162015
IAK
iShares U.S. Insurance ETF		2.63%1.69%1.49%1.44%1.69%2.26%2.07%1.84%2.33%1.62%1.68%1.62%
KIE
SPDR S&P Insurance ETF		1.96%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

With a correlation of 0.91, KIE and IAK 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.

KIE has higher volatility (5.39%) compared to IAK (5.21%). In terms of maximum drawdown, KIE dropped -75.30% vs IAK's -77.38%.

On 10-year performance, IAK leads with 12.95% vs 11.80% for KIE. On fees, KIE is cheaper at 0.35% per year. On volatility, IAK has been the lower-risk option at 5.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IAK has performed better with a 12.95% return vs 11.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

KIE is cheaper with a 0.35% expense ratio, compared with 0.38% for IAK.

IAK has the higher dividend yield at 2.63%, compared with 1.96% for KIE.

KIE tracks S&P Insurance Select Industry Index, while IAK tracks Dow Jones U.S. Select Insurance Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.35% for KIE and 0.38% for IAK.

IAK currently has the higher Sharpe Ratio (0.36 vs 0.05), 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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