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KRE vs. KBWB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KRE vs. KBWB

Last updated Jun 24, 2026

KRE (SPDR S&P Regional Banking ETF) and KBWB (Invesco KBW Bank ETF) are both Financials Equities funds - KRE tracks the S&P Regional Banks Select Industry Index while KBWB tracks the KBW Nasdaq Bank Index. Both are passively managed. Over the past 10 years, KRE returned 9.59%/yr vs 14.07%/yr for KBWB. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.

Performance

KRE vs. KBWB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Regional Banking ETF (KRE) and Invesco KBW Bank ETF (KBWB). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, KRE achieves a 14.14% return, which is significantly higher than KBWB's 12.95% return. Over the past 10 years, KRE has underperformed KBWB with an annualized return of 9.59%, while KBWB has yielded a comparatively higher 14.07% annualized return.

KRE

1D
1.57%
1M
6.02%
YTD
14.14%
6M
10.96%
1Y
29.42%
3Y*
26.19%
5Y*
4.63%
10Y*
9.59%

KBWB

1D
0.68%
1M
9.33%
YTD
12.95%
6M
10.99%
1Y
40.49%
3Y*
37.07%
5Y*
10.98%
10Y*
14.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

KRE vs. KBWB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
KRE
SPDR S&P Regional Banking ETF		14.14%10.21%18.58%-7.61%-15.08%39.29%-7.43%27.44%-18.81%7.49%
KBWB
Invesco KBW Bank ETF		12.95%32.05%36.73%-1.18%-21.68%37.72%-10.46%35.90%-18.30%18.11%

Correlation

The correlation between KRE and KBWB is 0.83, 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

0.83

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

0.89

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

0.91

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

0.93

Correlation (All Time)
Calculated using the full available price history since Nov 1, 2011

0.92

The correlation between KRE and KBWB has been stable across timeframes, ranging from 0.83 to 0.93 - a consistent structural relationship.

KRE vs. KBWB - Sectors Allocation Comparison

Sectors
KRE
KBWB

Financial Services

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

KRE
100.0%
KBWB
100.0%

Basic Materials

KRE

-

KBWB

-

Communication Services

KRE

-

KBWB

-

Consumer Cyclical

KRE

-

KBWB

-

Consumer Defensive

KRE

-

KBWB

-

Energy

KRE

-

KBWB

-

Healthcare

KRE

-

KBWB

-

Industrials

KRE

-

KBWB

-

Real Estate

KRE

-

KBWB

-

Technology

KRE

-

KBWB

-

Utilities

KRE

-

KBWB

-

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SPDR S&P Regional Banking ETF

Invesco KBW Bank ETF

Often compared with KRE:
KRE vs. XLFKRE vs. KBEKRE vs. DPSTKRE vs. IATKRE vs. VFHKRE vs. VOOKRE vs. NVDA
Often compared with KBWB:
KBWB vs. XLFKBWB vs. KBEKBWB vs. VFHKBWB vs. IYFKBWB vs. SPYKBWB vs. DPSTKBWB vs. FTXO

Return for Risk

KRE vs. KBWB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
KRE
KRE Risk / Return Rank: 3737
Overall Rank
KRE Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
KRE Sortino Ratio Rank: 3636
Sortino Ratio Rank
KRE Omega Ratio Rank: 3838
Omega Ratio Rank
KRE Calmar Ratio Rank: 4141
Calmar Ratio Rank
KRE Martin Ratio Rank: 3535
Martin Ratio Rank
KBWB
KBWB Risk / Return Rank: 5656
Overall Rank
KBWB Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
KBWB Sortino Ratio Rank: 5858
Sortino Ratio Rank
KBWB Omega Ratio Rank: 5959
Omega Ratio Rank
KBWB Calmar Ratio Rank: 5252
Calmar Ratio Rank
KBWB Martin Ratio Rank: 4848
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.

KRE vs. KBWB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Regional Banking ETF (KRE) and Invesco KBW Bank ETF (KBWB). 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.

KREKBWBDifference
Sharpe ratioReturn per unit of total volatility
1.27
2.01

-0.74

Sortino ratioReturn per unit of downside risk
1.81
2.62

-0.81

Omega ratioGain probability vs. loss probability

1.24

1.35

-0.11

Calmar ratioReturn relative to maximum drawdown

1.98

2.48

-0.51

Martin ratioReturn relative to average drawdown

5.13

7.81

-2.68

KRE vs. KBWB - Sharpe Ratio Comparison

The current KRE Sharpe Ratio is 1.27, which is lower than the KBWB Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of KRE and KBWB, 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

KRE vs. KBWB - Drawdown Comparison

The maximum KRE drawdown since its inception was -68.54%, which is greater than KBWB's maximum drawdown of -50.27%. Use the drawdown chart below to compare losses from any high point for KRE and KBWB.

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Drawdown Indicators

KREKBWBDifference

Max Drawdown

Largest peak-to-trough decline

-68.54%

-50.27%

-18.27%

Max Drawdown (1Y)

Largest decline over 1 year

-14.95%

-16.38%

+1.43%

Max Drawdown (3Y)

Largest decline over 3 years

-28.20%

-25.43%

-2.77%

Max Drawdown (5Y)

Largest decline over 5 years

-52.69%

-49.31%

-3.38%

Max Drawdown (10Y)

Largest decline over 10 years

-54.92%

-50.27%

-4.65%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-21.85%

-11.70%

-10.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.75%

5.20%

+0.55%

Volatility

KRE vs. KBWB - Volatility Comparison

SPDR S&P Regional Banking ETF (KRE) has a higher volatility of 6.34% compared to Invesco KBW Bank ETF (KBWB) at 5.65%. This indicates that KRE's price experiences larger fluctuations and is considered to be riskier than KBWB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

KREKBWBDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.34%

5.65%

+0.69%

Volatility (6M)

Calculated over the trailing 6-month period

16.05%

15.89%

+0.16%

Volatility (1Y)

Calculated over the trailing 1-year period

23.33%

20.26%

+3.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.85%

26.55%

+3.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.85%

29.12%

+2.73%

KRE vs. KBWB - Expense Ratio Comparison

Both KRE and KBWB have an expense ratio of 0.35%.

Dividends

KRE vs. KBWB - Dividend Comparison

KRE's dividend yield for the trailing twelve months is around 2.19%, more than KBWB's 1.97% yield.

PositionTTM20252024202320222021202020192018201720162015
KBWB
Invesco KBW Bank ETF		1.97%2.04%2.46%3.20%3.05%2.13%2.62%2.38%2.54%1.35%1.53%1.53%
KRE
SPDR S&P Regional Banking ETF		2.19%2.45%2.59%2.99%2.51%1.97%2.78%2.21%2.48%1.40%1.40%1.80%

Frequently Asked Questions

KRE and KBWB have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KRE has higher volatility (6.34%) compared to KBWB (5.65%). In terms of maximum drawdown, KRE dropped -68.54% vs KBWB's -50.27%.

On 10-year performance, KBWB leads with 14.07% vs 9.59% for KRE. Both ETFs have the same 0.35% expense ratio. On volatility, KBWB has been the lower-risk option at 5.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, KBWB has performed better with a 14.07% return vs 9.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

KRE and KBWB have the same expense ratio: 0.35% per year.

KRE has the higher dividend yield at 2.19%, compared with 1.97% for KBWB.

KRE tracks S&P Regional Banks Select Industry Index, while KBWB tracks KBW Nasdaq Bank Index. They also come from different issuers: State Street and Invesco.

KBWB currently has the higher Sharpe Ratio (2.01 vs 1.27), 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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