KRE vs. PBEU

Last updated Jun 24, 2026

KRE (SPDR S&P Regional Banking ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both Financials Equities funds - KRE tracks the S&P Regional Banks Select Industry Index while PBEU tracks the BITA European Banks Index. Both are passively managed. At a 0.47 correlation, their price movements are largely independent. KRE charges 0.35%/yr vs 0.13%/yr for PBEU.

Performance

KRE vs. PBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Regional Banking ETF (KRE) and Portfolio Building Block European Banks Index ETF (PBEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with KRE having a 14.14% return and PBEU slightly lower at 13.63%.

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%

PBEU

• 1D: -1.42%
• 1M: 7.22%
• YTD: 13.63%
• 6M: 14.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KRE vs. PBEU - Yearly Performance Comparison

	2026 (YTD)	2025
KRE SPDR S&P Regional Banking ETF	14.14%	5.77%
PBEU Portfolio Building Block European Banks Index ETF	13.63%	11.42%

Correlation

The correlation between KRE and PBEU is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025	0.47

Return for Risk

KRE vs. PBEU — Risk / Return Rank

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

KRE

KRE Risk / Return Rank: 37
KRE Sharpe Ratio Rank: 37
KRE Sortino Ratio Rank: 36
KRE Omega Ratio Rank: 38
KRE Calmar Ratio Rank: 41
KRE Martin Ratio Rank: 35

PBEU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. PBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Regional Banking ETF (KRE) and Portfolio Building Block European Banks Index ETF (PBEU). 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.

	KRE	PBEU	Difference
Sharpe ratio: Return per unit of total volatility	1.27	—	—
Sortino ratio: Return per unit of downside risk	1.81	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.98	—	—
Martin ratio: Return relative to average drawdown	5.13	—	—

Drawdowns

KRE vs. PBEU - Drawdown Comparison

The maximum KRE drawdown since its inception was -68.54%, which is greater than PBEU's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for KRE and PBEU.

Drawdown Indicators

	KRE	PBEU	Difference
Max Drawdown Largest peak-to-trough decline	-68.54%	-17.26%	-51.28%
Max Drawdown (1Y) Largest decline over 1 year	-14.95%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-28.20%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-52.69%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-54.92%	—	—
Current Drawdown Current decline from peak	0.00%	-1.42%	+1.42%
Average Drawdown Average peak-to-trough decline	-21.85%	-3.94%	-17.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.75%	—	—

Volatility

Volatility by Period

	KRE	PBEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.34%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.33%	27.63%	-4.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.85%	27.63%	+2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.85%	27.63%	+4.22%

KRE vs. PBEU - Expense Ratio Comparison

KRE has a 0.35% expense ratio, which is higher than PBEU's 0.13% expense ratio.

Dividends

KRE vs. PBEU - Dividend Comparison

KRE's dividend yield for the trailing twelve months is around 2.19%, more than PBEU's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
PBEU Portfolio Building Block European Banks Index ETF	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KRE and PBEU in my portfolio?

KRE and PBEU have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KRE or PBEU?

On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KRE or PBEU?

PBEU is cheaper with a 0.13% expense ratio, compared with 0.35% for KRE.

Which ETF pays a higher dividend yield, KRE or PBEU?

KRE has the higher dividend yield at 2.19%, compared with 0.01% for PBEU.

What is the main difference between KRE and PBEU?

KRE tracks S&P Regional Banks Select Industry Index, while PBEU tracks BITA European Banks Index. They also come from different issuers: State Street and Portfolio Building Block. Their fees differ too: 0.35% for KRE and 0.13% for PBEU.