SKRE vs. KBE
SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) and KBE (State Street SPDR S&P Bank ETF) are both exchange-traded funds - SKRE is a Inverse Equities fund tracking the S&P Regional Banks Select Industry, while KBE is a Financials Equities fund tracking the S&P Banks Select Industry Index. Both are passively managed. Over the past year, SKRE returned -49.41% vs 29.08% for KBE. Their -0.98 correlation means they have often moved in opposite directions in the past. SKRE charges 0.75%/yr vs 0.35%/yr for KBE.
Performance
SKRE vs. KBE - Performance Comparison
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Returns By Period
In the year-to-date period, SKRE achieves a -33.64% return, which is significantly lower than KBE's 16.05% return.
SKRE
- 1D
- -0.47%
- 1M
- -3.55%
- 6M
- -24.32%
- YTD
- -33.64%
- 1Y
- -49.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -41.39%
KBE
- 1D
- 0.24%
- 1M
- 1.50%
- 6M
- 10.80%
- YTD
- 16.05%
- 1Y
- 29.08%
- 3Y*
- 22.07%
- 5Y*
- 10.07%
- 10Y*
- 11.05%
- ALL TIME*
- 3.92%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $98.17M | $107.02M | $128.95M | |
| $138.55K | $152.58K | $246.42K |
SKRE vs. KBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | -33.64% | -31.29% | -44.47% |
KBE State Street SPDR S&P Bank ETF | 16.05% | 12.36% | 26.75% |
Correlation
The correlation between SKRE and KBE is -0.99, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024 | -0.98 |
The correlation between SKRE and KBE has been stable across timeframes, ranging from -0.99 to -0.98 - a consistent structural relationship.
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Return for Risk
SKRE vs. KBE — Risk / Return Rank
SKRE
KBE
SKRE vs. KBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) and State Street SPDR S&P Bank ETF (KBE). 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.
| SKRE | KBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -3.41 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.24 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 1.85 | -2.77 |
| Martin ratioReturn relative to average drawdown | -1.55 | 4.90 | -6.45 |
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Drawdowns
SKRE vs. KBE - Drawdown Comparison
The maximum SKRE drawdown since its inception was -79.33%, roughly equal to the maximum KBE drawdown of -83.15%. Use the drawdown chart below to compare losses from any high point for SKRE and KBE.
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Drawdown Indicators
| SKRE | KBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.33% | -83.15% | +3.82% |
Max Drawdown (1Y)Largest decline over 1 year | -51.44% | -14.63% | -36.81% |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.97% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -53.14% | — |
Current DrawdownCurrent decline from peak | -78.48% | -2.30% | -76.18% |
Average DrawdownAverage peak-to-trough decline | -49.04% | -27.33% | -21.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.59% | 5.50% | +25.09% |
Volatility
SKRE vs. KBE - Volatility Comparison
Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) has a higher volatility of 11.05% compared to State Street SPDR S&P Bank ETF (KBE) at 5.24%. This indicates that SKRE's price experiences larger fluctuations and is considered to be riskier than KBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SKRE | KBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.05% | 5.24% | +5.81% |
Volatility (6M)Calculated over the trailing 6-month period | 30.36% | 14.49% | +15.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.00% | 21.29% | +24.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.78% | 27.05% | +27.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.78% | 29.67% | +25.11% |
SKRE vs. KBE - Expense Ratio Comparison
SKRE has a 0.75% expense ratio, which is higher than KBE's 0.35% expense ratio.
Dividends
SKRE vs. KBE - Dividend Comparison
SKRE's dividend yield for the trailing twelve months is around 0.39%, less than KBE's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBE State Street SPDR S&P Bank ETF | 2.11% | 2.51% | 2.35% | 2.78% | 2.99% | 2.16% | 2.44% | 2.33% | 2.18% | 1.36% | 1.39% | 1.70% |
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | 0.39% | 0.26% | 3.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SKRE and KBE have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SKRE has higher volatility (11.05%) compared to KBE (5.24%). In terms of maximum drawdown, SKRE dropped -79.33% vs KBE's -83.15%.
On 1-year performance, KBE leads with 29.08% vs -49.41% for SKRE. On fees, KBE is cheaper at 0.35% per year. On volatility, KBE has been the lower-risk option at 5.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KBE has performed better with a 29.08% return vs -49.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBE is cheaper with a 0.35% expense ratio, compared with 0.75% for SKRE.
KBE has the higher dividend yield at 2.11%, compared with 0.39% for SKRE.
SKRE is categorized as Inverse Equities, while KBE is Financials Equities. SKRE tracks S&P Regional Banks Select Industry, while KBE tracks S&P Banks Select Industry Index. They also come from different issuers: Tuttle and State Street. Their fees differ too: 0.75% for SKRE and 0.35% for KBE.
KBE currently has the higher Sharpe Ratio (1.27 vs -1.04), 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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