KIE vs. VFH

Last updated Jun 3, 2026

KIE (SPDR S&P Insurance ETF) and VFH (Vanguard Financials ETF) are both Financials Equities funds - KIE tracks the S&P Insurance Select Industry Index while VFH tracks the MSCI US Investable Market Financials 25/50 Index. Both are passively managed. Over the past 10 years, KIE returned 10.60%/yr vs 12.35%/yr for VFH. Their correlation of 0.87 suggests significant overlap in exposure. KIE charges 0.35%/yr vs 0.10%/yr for VFH.

Performance

KIE vs. VFH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Insurance ETF (KIE) and Vanguard Financials ETF (VFH). 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 VFH's -5.08% return. Over the past 10 years, KIE has underperformed VFH with an annualized return of 10.60%, while VFH has yielded a comparatively higher 12.35% 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%

VFH

• 1D: 0.06%
• 1M: -1.06%
• YTD: -5.08%
• 6M: -1.24%
• 1Y: 4.26%
• 3Y*: 19.00%
• 5Y*: 8.17%
• 10Y*: 12.35%

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

KIE vs. VFH - 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%
VFH Vanguard Financials ETF	-5.08%	14.91%	30.44%	14.17%	-12.31%	35.22%	-1.96%	31.57%	-13.52%	19.99%

Correlation

The correlation between KIE and VFH is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Nov 16, 2005	0.87

The correlation between KIE and VFH shifts across timeframes, from 0.68 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

KIE vs. VFH - Sectors Allocation Comparison

Sectors	KIE	VFH
Financial Services	97.5%	96.8%
Healthcare	2.5%	0.1%
Basic Materials	-	-
Communication Services	-	0.0%
Consumer Cyclical	-	0.0%
Consumer Defensive	-	-
Energy	-	-
Industrials	-	0.2%
Real Estate	-	0.8%
Technology	-	2.1%
Utilities	-	-

Return for Risk

KIE vs. VFH — 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

VFH

VFH Risk / Return Rank: 12
VFH Sharpe Ratio Rank: 13
VFH Sortino Ratio Rank: 12
VFH Omega Ratio Rank: 12
VFH Calmar Ratio Rank: 12
VFH Martin Ratio Rank: 12

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. VFH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Insurance ETF (KIE) and Vanguard Financials ETF (VFH). 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	VFH	Difference
Sharpe ratio Return per unit of total volatility	-0.38	0.29	-0.67
Sortino ratio Return per unit of downside risk	-0.42	0.49	-0.91
Omega ratio Gain probability vs. loss probability	0.95	1.06	-0.11
Calmar ratio Return relative to maximum drawdown	-0.45	0.30	-0.74
Martin ratio Return relative to average drawdown	-1.11	0.79	-1.90
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. VFH - Sharpe Ratio Comparison

The current KIE Sharpe Ratio is -0.38, which is lower than the VFH Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of KIE and VFH, 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	VFH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.38	0.29	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.43	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.55	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.24	+0.04

Drawdowns

KIE vs. VFH - Drawdown Comparison

The maximum KIE drawdown since its inception was -75.30%, roughly equal to the maximum VFH drawdown of -78.61%. Use the drawdown chart below to compare losses from any high point for KIE and VFH.

Drawdown Indicators

	KIE	VFH	Difference
Max Drawdown Largest peak-to-trough decline	-75.30%	-78.61%	+3.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.81%	-14.75%	+2.94%
Max Drawdown (3Y) Largest decline over 3 years	-12.65%	-17.30%	+4.65%
Max Drawdown (5Y) Largest decline over 5 years	-15.68%	-25.66%	+9.98%
Max Drawdown (10Y) Largest decline over 10 years	-44.31%	-44.42%	+0.11%
Current Drawdown Current decline from peak	-9.20%	-7.96%	-1.24%
Average Drawdown Average peak-to-trough decline	-12.05%	-18.54%	+6.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.76%	5.52%	-0.76%

Volatility

KIE vs. VFH - Volatility Comparison

SPDR S&P Insurance ETF (KIE) has a higher volatility of 4.41% compared to Vanguard Financials ETF (VFH) at 3.12%. This indicates that KIE's price experiences larger fluctuations and is considered to be riskier than VFH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KIE	VFH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	3.12%	+1.29%
Volatility (6M) Calculated over the trailing 6-month period	11.06%	11.03%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	16.04%	14.72%	+1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.35%	19.30%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.17%	22.54%	-1.37%

KIE vs. VFH - Expense Ratio Comparison

KIE has a 0.35% expense ratio, which is higher than VFH's 0.10% expense ratio.

Dividends

KIE vs. VFH - Dividend Comparison

KIE's dividend yield for the trailing twelve months is around 1.68%, more than VFH's 1.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VFH Vanguard Financials ETF	1.54%	1.55%	1.75%	2.08%	2.31%	1.87%	2.21%	2.17%	2.30%	1.53%	1.63%	2.00%

Frequently Asked Questions

Can I hold both KIE and VFH in my portfolio?

KIE and VFH have a correlation of 0.68, 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 VFH?

KIE has higher volatility (4.41%) compared to VFH (3.12%). In terms of maximum drawdown, KIE dropped -75.30% vs VFH's -78.61%.

Which ETF is better, KIE or VFH?

On 10-year performance, VFH leads with 12.35% vs 10.60% for KIE. On fees, VFH is cheaper at 0.10% per year. On volatility, VFH has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KIE or VFH?

Over the 10-year period, VFH has performed better with a 12.35% 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 VFH?

VFH is cheaper with a 0.10% expense ratio, compared with 0.35% for KIE.

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

KIE has the higher dividend yield at 1.68%, compared with 1.54% for VFH.

What is the main difference between KIE and VFH?

KIE tracks S&P Insurance Select Industry Index, while VFH tracks MSCI US Investable Market Financials 25/50 Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.35% for KIE and 0.10% for VFH.

Which has better risk-adjusted returns?

VFH currently has the higher Sharpe Ratio (0.29 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.