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KRE vs. VOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KRE vs. VOO

Last updated Jun 23, 2026

KRE (SPDR S&P Regional Banking ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - KRE is a Financials Equities fund tracking the S&P Regional Banks Select Industry Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, KRE returned 9.42%/yr vs 15.77%/yr for VOO. A 0.64 correlation means they provide meaningful diversification when combined. KRE charges 0.35%/yr vs 0.03%/yr for VOO.

Performance

KRE vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Regional Banking ETF (KRE) and Vanguard S&P 500 ETF (VOO). 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 12.38% return, which is significantly higher than VOO's 9.75% return. Over the past 10 years, KRE has underperformed VOO with an annualized return of 9.42%, while VOO has yielded a comparatively higher 15.77% annualized return.

KRE

1D
0.96%
1M
4.38%
YTD
12.38%
6M
8.46%
1Y
30.35%
3Y*
25.54%
5Y*
4.62%
10Y*
9.42%

VOO

1D
-0.29%
1M
0.08%
YTD
9.75%
6M
9.30%
1Y
26.77%
3Y*
21.36%
5Y*
13.58%
10Y*
15.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

KRE vs. VOO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
KRE
SPDR S&P Regional Banking ETF		12.38%10.21%18.58%-7.61%-15.08%39.29%-7.43%27.44%-18.81%7.49%
VOO
Vanguard S&P 500 ETF		9.75%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%

Correlation

The correlation between KRE and VOO is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.46

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

0.50

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

0.60

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

0.58

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2010

0.64

The correlation between KRE and VOO shifts across timeframes, from 0.46 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

KRE vs. VOO - Sectors Allocation Comparison

Sectors
KRE
VOO

Financial Services

100.0%
10.9%

Basic Materials

-

1.7%

Communication Services

-

10.5%

Consumer Cyclical

-

9.8%

Consumer Defensive

-

4.5%

Energy

-

3.2%

Healthcare

-

8.3%

Industrials

-

7.6%

Real Estate

-

1.8%

Technology

-

39.1%

Utilities

-

2.5%

Financial Services

KRE
100.0%
VOO
10.9%

Basic Materials

KRE

-

VOO
1.7%

Communication Services

KRE

-

VOO
10.5%

Consumer Cyclical

KRE

-

VOO
9.8%

Consumer Defensive

KRE

-

VOO
4.5%

Energy

KRE

-

VOO
3.2%

Healthcare

KRE

-

VOO
8.3%

Industrials

KRE

-

VOO
7.6%

Real Estate

KRE

-

VOO
1.8%

Technology

KRE

-

VOO
39.1%

Utilities

KRE

-

VOO
2.5%

Compare stocks, funds, or ETFs

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SPDR S&P Regional Banking ETF

Vanguard S&P 500 ETF

Often compared with KRE:
KRE vs. XLFKRE vs. KBEKRE vs. KBWBKRE vs. DPSTKRE vs. IATKRE vs. VFHKRE vs. NVDA
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. SPYVOO vs. FXAIXVOO vs. VGT

Return for Risk

KRE vs. VOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
KRE
KRE Risk / Return Rank: 3838
Overall Rank
KRE Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
KRE Sortino Ratio Rank: 3737
Sortino Ratio Rank
KRE Omega Ratio Rank: 3838
Omega Ratio Rank
KRE Calmar Ratio Rank: 4242
Calmar Ratio Rank
KRE Martin Ratio Rank: 3636
Martin Ratio Rank
VOO
VOO Risk / Return Rank: 6868
Overall Rank
VOO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 6767
Sortino Ratio Rank
VOO Omega Ratio Rank: 6969
Omega Ratio Rank
VOO Calmar Ratio Rank: 6363
Calmar Ratio Rank
VOO Martin Ratio Rank: 7474
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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Regional Banking ETF (KRE) and Vanguard S&P 500 ETF (VOO). 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.

KREVOODifference
Sharpe ratioReturn per unit of total volatility
1.31
2.17

-0.86

Sortino ratioReturn per unit of downside risk
1.86
2.93

-1.07

Omega ratioGain probability vs. loss probability

1.24

1.39

-0.15

Calmar ratioReturn relative to maximum drawdown

2.04

3.02

-0.98

Martin ratioReturn relative to average drawdown

5.29

13.58

-8.29

KRE vs. VOO - Sharpe Ratio Comparison

The current KRE Sharpe Ratio is 1.31, which is lower than the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of KRE and VOO, 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. VOO - Drawdown Comparison

The maximum KRE drawdown since its inception was -68.54%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for KRE and VOO.

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Drawdown Indicators

KREVOODifference

Max Drawdown

Largest peak-to-trough decline

-68.54%

-33.99%

-34.55%

Max Drawdown (1Y)

Largest decline over 1 year

-14.95%

-8.90%

-6.05%

Max Drawdown (3Y)

Largest decline over 3 years

-28.20%

-18.69%

-9.51%

Max Drawdown (5Y)

Largest decline over 5 years

-52.69%

-24.52%

-28.17%

Max Drawdown (10Y)

Largest decline over 10 years

-54.92%

-33.99%

-20.93%

Current Drawdown

Current decline from peak

-1.36%

-1.74%

+0.38%

Average Drawdown

Average peak-to-trough decline

-21.85%

-3.68%

-18.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.75%

1.98%

+3.77%

Volatility

KRE vs. VOO - Volatility Comparison

SPDR S&P Regional Banking ETF (KRE) has a higher volatility of 6.20% compared to Vanguard S&P 500 ETF (VOO) at 4.60%. This indicates that KRE's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

KREVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.20%

4.60%

+1.60%

Volatility (6M)

Calculated over the trailing 6-month period

15.98%

9.73%

+6.25%

Volatility (1Y)

Calculated over the trailing 1-year period

23.33%

12.39%

+10.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.84%

16.90%

+12.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.93%

18.05%

+13.88%

KRE vs. VOO - Expense Ratio Comparison

KRE has a 0.35% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

KRE vs. VOO - Dividend Comparison

KRE's dividend yield for the trailing twelve months is around 2.76%, more than VOO's 1.04% yield.

PositionTTM20252024202320222021202020192018201720162015
KRE
SPDR S&P Regional Banking ETF		2.76%2.45%2.59%2.99%2.51%1.97%2.78%2.21%2.48%1.40%1.40%1.80%
VOO
Vanguard S&P 500 ETF		1.04%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Frequently Asked Questions

KRE and VOO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KRE has higher volatility (6.20%) compared to VOO (4.60%). In terms of maximum drawdown, KRE dropped -68.54% vs VOO's -33.99%.

On 10-year performance, VOO leads with 15.77% vs 9.42% for KRE. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VOO has performed better with a 15.77% return vs 9.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOO is cheaper with a 0.03% expense ratio, compared with 0.35% for KRE.

KRE has the higher dividend yield at 2.76%, compared with 1.04% for VOO.

KRE is categorized as Financials Equities, while VOO is S&P 500. KRE tracks S&P Regional Banks Select Industry Index, while VOO tracks S&P 500 Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.35% for KRE and 0.03% for VOO.

VOO currently has the higher Sharpe Ratio (2.17 vs 1.31), 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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