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KIE vs. PEP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KIE vs. PEP

Last updated Jun 23, 2026

KIE (SPDR S&P Insurance ETF) is Financials Equities fund tracking the S&P Insurance Select Industry Index, while PEP (PepsiCo, Inc.) is a stock. Over the past 10 years, KIE returned 11.80%/yr vs 6.50%/yr for PEP. At a 0.40 correlation, their price movements are largely independent.

Performance

KIE vs. PEP - Performance Comparison

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

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Returns By Period

In the year-to-date period, KIE achieves a -2.30% return, which is significantly lower than PEP's 0.11% return. Over the past 10 years, KIE has outperformed PEP with an annualized return of 11.80%, while PEP has yielded a comparatively lower 6.50% 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%

PEP

1D
-0.92%
1M
-5.42%
YTD
0.11%
6M
-2.29%
1Y
13.51%
3Y*
-5.61%
5Y*
2.65%
10Y*
6.50%
*Multi-year figures are annualized to reflect compound growth (CAGR)

KIE vs. PEP - 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%
PEP
PepsiCo, Inc.		0.11%-1.85%-7.60%-3.29%6.78%20.56%11.67%27.38%-4.81%17.82%

Correlation

The correlation between KIE and PEP is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.17

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

0.28

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

0.33

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

0.33

Correlation (All Time)
Calculated using the full available price history since Nov 15, 2005

0.40

Over the past year, the correlation between KIE and PEP has dropped to 0.17 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

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

PepsiCo, Inc.

Often compared with KIE:
KIE vs. IAKKIE vs. KBWPKIE vs. XLFKIE vs. IAIKIE vs. RNRKIE vs. PAVEKIE vs. JQUA
Often compared with PEP:
PEP vs. KOPEP vs. MCDPEP vs. MDLZPEP vs. COKEPEP vs. KDPPEP vs. VOOPEP vs. SCHD

Return for Risk

KIE vs. PEP — 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
PEP
PEP Risk / Return Rank: 5959
Overall Rank
PEP Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
PEP Sortino Ratio Rank: 5858
Sortino Ratio Rank
PEP Omega Ratio Rank: 5454
Omega Ratio Rank
PEP Calmar Ratio Rank: 6161
Calmar Ratio Rank
PEP Martin Ratio Rank: 6262
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. PEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Insurance ETF (KIE) and PepsiCo, Inc. (PEP). 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.

KIEPEPDifference
Sharpe ratioReturn per unit of total volatility
0.05
0.62

-0.57

Sortino ratioReturn per unit of downside risk
0.19
1.10

-0.91

Omega ratioGain probability vs. loss probability

1.02

1.12

-0.10

Calmar ratioReturn relative to maximum drawdown

0.07

0.83

-0.76

Martin ratioReturn relative to average drawdown

0.18

2.03

-1.86

KIE vs. PEP - Sharpe Ratio Comparison

The current KIE Sharpe Ratio is 0.05, which is lower than the PEP Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of KIE and PEP, 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. PEP - Drawdown Comparison

The maximum KIE drawdown since its inception was -75.30%, roughly equal to the maximum PEP drawdown of -73.92%. Use the drawdown chart below to compare losses from any high point for KIE and PEP.

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Drawdown Indicators

KIEPEPDifference

Max Drawdown

Largest peak-to-trough decline

-75.30%

-73.92%

-1.38%

Max Drawdown (1Y)

Largest decline over 1 year

-11.81%

-16.25%

+4.44%

Max Drawdown (3Y)

Largest decline over 3 years

-12.65%

-29.17%

+16.52%

Max Drawdown (5Y)

Largest decline over 5 years

-15.68%

-30.32%

+14.64%

Max Drawdown (10Y)

Largest decline over 10 years

-44.31%

-30.32%

-13.99%

Current Drawdown

Current decline from peak

-3.71%

-19.66%

+15.95%

Average Drawdown

Average peak-to-trough decline

-12.03%

-13.65%

+1.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.92%

6.66%

-1.74%

Volatility

KIE vs. PEP - Volatility Comparison

The current volatility for SPDR S&P Insurance ETF (KIE) is 5.39%, while PepsiCo, Inc. (PEP) has a volatility of 6.35%. This indicates that KIE experiences smaller price fluctuations and is considered to be less risky than PEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

KIEPEPDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.39%

6.35%

-0.96%

Volatility (6M)

Calculated over the trailing 6-month period

11.63%

14.99%

-3.36%

Volatility (1Y)

Calculated over the trailing 1-year period

16.32%

21.88%

-5.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.35%

18.43%

-0.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.21%

19.71%

+1.50%

Dividends

KIE vs. PEP - Dividend Comparison

KIE's dividend yield for the trailing twelve months is around 1.96%, less than PEP's 4.24% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
PEP
PepsiCo, Inc.		4.24%3.92%3.51%2.91%2.50%2.45%2.71%2.77%3.25%2.64%2.83%2.76%

Frequently Asked Questions

KIE and PEP have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PEP has higher volatility (6.35%) compared to KIE (5.39%). In terms of maximum drawdown, KIE dropped -75.30% vs PEP's -73.92%.

PEP currently has the higher Sharpe Ratio (0.62 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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