KIE vs. PSCF

Last updated Jun 25, 2026

KIE (SPDR S&P Insurance ETF) and PSCF (Invesco S&P SmallCap Financials ETF) are both Financials Equities funds - KIE tracks the S&P Insurance Select Industry Index while PSCF tracks the S&P SmallCap 600 Financials Index. Both are passively managed. Over the past 10 years, KIE returned 12.08%/yr vs 8.04%/yr for PSCF. A 0.77 correlation means they provide meaningful diversification when combined. KIE charges 0.35%/yr vs 0.29%/yr for PSCF.

Performance

KIE vs. PSCF - Performance Comparison

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

Returns By Period

In the year-to-date period, KIE achieves a 0.16% return, which is significantly lower than PSCF's 13.58% return. Over the past 10 years, KIE has outperformed PSCF with an annualized return of 12.08%, while PSCF has yielded a comparatively lower 8.04% annualized return.

KIE

• 1D: 0.17%
• 1M: 4.05%
• YTD: 0.16%
• 6M: -1.28%
• 1Y: 2.10%
• 3Y*: 16.62%
• 5Y*: 10.76%
• 10Y*: 12.08%

PSCF

• 1D: 0.56%
• 1M: 5.35%
• YTD: 13.58%
• 6M: 11.22%
• 1Y: 22.54%
• 3Y*: 20.10%
• 5Y*: 4.56%
• 10Y*: 8.04%

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

KIE vs. PSCF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KIE SPDR S&P Insurance ETF	0.16%	8.12%	26.95%	12.18%	3.48%	22.75%	-3.04%	27.19%	-5.99%	12.83%
PSCF Invesco S&P SmallCap Financials ETF	13.58%	6.19%	15.50%	6.02%	-19.34%	27.82%	-9.07%	23.13%	-8.43%	6.71%

Correlation

The correlation between KIE and PSCF is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Apr 7, 2010	0.77

The correlation between KIE and PSCF shifts across timeframes, from 0.67 (3 years) to 0.77 (all time), reflecting how their relationship changes across market environments.

KIE vs. PSCF - Sectors Allocation Comparison

Sectors	KIE	PSCF
Financial Services	96.9%	67.3%
Healthcare	3.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	0.4%
Real Estate	-	28.8%
Technology	-	3.5%
Utilities	-	-

Return for Risk

KIE vs. PSCF — Risk / Return Rank

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

KIE

KIE Risk / Return Rank: 10
KIE Sharpe Ratio Rank: 10
KIE Sortino Ratio Rank: 10
KIE Omega Ratio Rank: 10
KIE Calmar Ratio Rank: 11
KIE Martin Ratio Rank: 11

PSCF

PSCF Risk / Return Rank: 43
PSCF Sharpe Ratio Rank: 41
PSCF Sortino Ratio Rank: 41
PSCF Omega Ratio Rank: 39
PSCF Calmar Ratio Rank: 52
PSCF Martin Ratio Rank: 41

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. PSCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Insurance ETF (KIE) and Invesco S&P SmallCap Financials ETF (PSCF). 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.

	KIE	PSCF	Difference
Sharpe ratio: Return per unit of total volatility	0.13	1.30	-1.17
Sortino ratio: Return per unit of downside risk	0.29	1.91	-1.62
Omega ratio: Gain probability vs. loss probability	1.03	1.23	-0.20
Calmar ratio: Return relative to maximum drawdown	0.18	2.28	-2.11
Martin ratio: Return relative to average drawdown	0.43	6.09	-5.66

KIE vs. PSCF - Sharpe Ratio Comparison

The current KIE Sharpe Ratio is 0.13, which is lower than the PSCF Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of KIE and PSCF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KIE vs. PSCF - Drawdown Comparison

The maximum KIE drawdown since its inception was -75.30%, which is greater than PSCF's maximum drawdown of -45.46%. Use the drawdown chart below to compare losses from any high point for KIE and PSCF.

Drawdown Indicators

	KIE	PSCF	Difference
Max Drawdown Largest peak-to-trough decline	-75.30%	-45.46%	-29.84%
Max Drawdown (1Y) Largest decline over 1 year	-11.81%	-9.91%	-1.90%
Max Drawdown (3Y) Largest decline over 3 years	-12.65%	-24.34%	+11.69%
Max Drawdown (5Y) Largest decline over 5 years	-15.68%	-36.77%	+21.09%
Max Drawdown (10Y) Largest decline over 10 years	-44.31%	-45.46%	+1.15%
Current Drawdown Current decline from peak	-1.28%	0.00%	-1.28%
Average Drawdown Average peak-to-trough decline	-12.02%	-8.56%	-3.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.92%	3.71%	+1.21%

Volatility

KIE vs. PSCF - Volatility Comparison

SPDR S&P Insurance ETF (KIE) has a higher volatility of 5.81% compared to Invesco S&P SmallCap Financials ETF (PSCF) at 4.69%. This indicates that KIE's price experiences larger fluctuations and is considered to be riskier than PSCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KIE	PSCF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.81%	4.69%	+1.12%
Volatility (6M) Calculated over the trailing 6-month period	11.85%	11.99%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	16.39%	17.43%	-1.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.37%	22.42%	-4.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.16%	24.77%	-3.61%

KIE vs. PSCF - Expense Ratio Comparison

KIE has a 0.35% expense ratio, which is higher than PSCF's 0.29% expense ratio.

Dividends

KIE vs. PSCF - Dividend Comparison

KIE's dividend yield for the trailing twelve months is around 1.64%, less than PSCF's 2.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KIE SPDR S&P Insurance ETF	1.64%	1.57%	1.48%	1.45%	1.90%	1.95%	1.85%	1.76%	1.83%	1.56%	1.55%	1.65%
PSCF Invesco S&P SmallCap Financials ETF	2.21%	2.09%	2.48%	3.32%	2.93%	1.83%	3.57%	4.27%	4.21%	2.26%	3.01%	2.37%

Frequently Asked Questions

Can I hold both KIE and PSCF in my portfolio?

KIE and PSCF have a correlation of 0.67, 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 PSCF?

KIE has higher volatility (5.81%) compared to PSCF (4.69%). In terms of maximum drawdown, KIE dropped -75.30% vs PSCF's -45.46%.

Which ETF is better, KIE or PSCF?

On 10-year performance, KIE leads with 12.08% vs 8.04% for PSCF. On fees, PSCF is cheaper at 0.29% per year. On volatility, PSCF has been the lower-risk option at 4.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KIE or PSCF?

Over the 10-year period, KIE has performed better with a 12.08% return vs 8.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KIE or PSCF?

PSCF is cheaper with a 0.29% expense ratio, compared with 0.35% for KIE.

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

PSCF has the higher dividend yield at 2.21%, compared with 1.64% for KIE.

What is the main difference between KIE and PSCF?

KIE tracks S&P Insurance Select Industry Index, while PSCF tracks S&P SmallCap 600 Financials Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.35% for KIE and 0.29% for PSCF.

Which has better risk-adjusted returns?

PSCF currently has the higher Sharpe Ratio (1.30 vs 0.13), 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.