KCE
SPDR S&P Capital Markets ETF
KBW Capital Markets ETF is an exchange-traded fund incorporated in the USA. The Fund's objective is to replicate the performance of the KBW Capital Markets Index.
US
EQUITY
Passive
MANAGEMENT STYLE
375.5 M
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
Fund sponsor | SSGA Funds Management Inc |
Category | US |
Asset class | Equity |
Website | link... |
Inception date | Nov 08, 2005 |
Assets (mns) | $375 |
Expense ratio | 35 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Market Cap |
Weighting | Equal |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
Complete list +
BLUE OWL CAPITAL INC CLASS A | 2.0 % |
LPL FINANCIAL HOLDINGS INC | 2.0 % |
COINBASE GLOBAL, INC. CLASS A | 2.0 % |
CARLYLE GROUP/THE | 2.0 % |
RAYMOND JAMES FINANCIAL INC | 1.9 % |
ROBINHOOD MARKETS, INC. CLASS A | 1.9 % |
TPG INC | 1.9 % |
STIFEL FINANCIAL CORP | 1.9 % |
MORGAN STANLEY | 1.9 % |
STEPSTONE GROUP, INC. CLASS A | 1.8 % |
Constituent Breakdown
Number of holdings | 58 |
Herfindahl-Hirschman Index | 167 |
Wgt avg mkt cap (mns) | $35,116 |
Large cap (>$10bn) | 65.8% |
Mid cap ($2-10bn) | 28.1% |
Small cap (<$2bn) | 6.1% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
UNITED STATES | 90.3 % | |
BRITAIN | 1.8 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
Total Returns | 31.2% | 64.0% | 31.8% | 9.8% | 21.6% | 13.0% | 7.2% | Volatility | 16.7% | 16.7% | 19.3% | 22.8% | 25.7% | 22.8% | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 1.20 | 72% |
MSCI EAFE | 1.11 | 65% |
MSCI Emg Mkts | 0.89 | 40% |
Liquidity Measures
Avg. volume (000) | 85 |
Turnover | 3.0% |
Avg. Bid/Ask (% of price) | 0.13% |
ADV of underlying (mns) | $10,868 |
Technical Indicators
Recent close | $131.74 |
30d moving avg. | $129.37 |
Annualized volatility | 24.4% |
Relative strength (RSI) | 61 |
Short interest (ETF) | 2.7% |
Short interest (underlying) | 2.6% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. KCE |
Expenses vs. KCE |
ALTAR Score™ vs. KCE |
---|---|---|---|---|
IAI | iShares U.S. Broker-Dealers & Securities Exchanges ETF | 39.2% | +5 bp | -1.6% |
RSPF | Invesco S&P 500 Equal Weight Financials ETF | 32.9% | +5 bp | +0.2% |
IYF | iShares U.S. Financials ETF | 26.7% | +5 bp | -0.6% |
IYG | iShares US Financial Services ETF | 26.4% | +5 bp | -1.0% |
FXO | First Trust Financials AlphaDEX Fund | 24.0% | +27 bp | +1.6% |
FNCL | Fidelity MSCI Financials Index ETF | 22.1% | -27 bp | -0.4% |
VFH | Vanguard Financials ETF | 20.7% | -25 bp | -0.3% |
XLF | Financial Select Sector SPDR Fund | 20.7% | -26 bp | -0.8% |
BFIIX | Baron FinTech | 19.8% | +40 bp | -3.0% |
PFI | Invesco Dorsey Wright Financial Momentum ETF | 19.8% | +25 bp | -0.8% |
Risk and Returns: KCE vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
2023 | 2024E | Fwd Est | 2025E | |
Price-to-sales | --x | --x | --x | --x |
Price-to-earnings | --x | --x | --x | --x |
Price-to-cash flow | --x | --x | --x | --x |
Price-to-growth | --x | --x | --x | --x |
Price-to-book value | --x | --x | --x | --x |
Yield | --% | --% | --x | --% |
Based on closing prices from 11/1/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
KCE
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
KCE
6.4%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 949 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.5%. KCE's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places KCE in the 62nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
KCESELL
U/W
HOLD
O/W
BUY
Expense Analysis
Peer Group | Passive US Equity ETFs |
# of ETFs | 192 |
Avg. Expense Ratio | 31.0 bp |
Std. Deviation | 25.7 bp |
KCE (35 bp) Percentile rank | 56 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
KCE | 35.0 | 13.1 | 48.1 |
Peer Avg. | 25.8 | 10.2 | 36.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .