KIE
SPDR S&P Insurance ETF
The SPDR S&P Insurance ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P Insurance Select Industry Index.
US
EQUITY
Passive
MANAGEMENT STYLE
660.3 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) | $660 |
| 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 +
| WHITE MOUNTAINS INSURANCE GP | 2.1 % |
| LEMONADE INC | 2.0 % |
| RYAN SPECIALTY HOLDINGS, INC. CLASS A | 2.0 % |
| LOEWS CORP | 2.0 % |
| WR BERKLEY CORP | 2.0 % |
| UNUM GROUP | 2.0 % |
| CINCINNATI FINANCIAL CORP | 2.0 % |
| EVEREST RE GROUP LTD | 2.0 % |
| CNO FINANCIAL GROUP INC | 2.0 % |
| RENAISSANCERE HOLDINGS LTD | 2.0 % |
Constituent Breakdown
| Number of holdings | 53 |
| Herfindahl-Hirschman Index | 191 |
| Wgt avg mkt cap (mns) | $24,669 |
| Large cap (>$10bn) | 55.1% |
| Mid cap ($2-10bn) | 43.2% |
| Small cap (<$2bn) | 1.5% |
| Developed mkts. | 98.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 84.7 % |
 |
BERMUDA | 9.5 % |
 |
SWITZERLAND | 2.0 % |
 |
BRITAIN | 1.9 % |
 |
IRELAND | 1.8 % |
Historical Performance
Standardized Performance (as of 09/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 5.0% | 4.5% | 18.1% | 17.9% | 16.2% | 10.2% | -- | 6.3% |
| Dividend Yield | 0.8% | 1.4% | 1.7% | 1.8% | 2.0% | 2.0% | -- | 1.9% |
| Total Returns | 5.8% | 5.9% | 19.8% | 19.8% | 18.2% | 12.1% | -- | 8.2% | Ann. Volatility | 21.1% | 20.5% | 17.4% | 17.9% | 19.2% | 21.2% | -- | 26.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.77 | 33% |
| MSCI EAFE | 0.58 | 23% |
| MSCI Emg Mkts | 0.15 | 2% |
Liquidity Measures
| Avg. volume (000) | 1,351 |
| ADV traded (mns) | $75 |
| Turnover | 11.4% |
| Avg. Bid/Ask (% of price) | 0.02% |
Technical Indicators
| Recent close | $55.72 |
| 30d moving avg. | $58.48 |
| Annualized volatility | 18.0% |
| Relative strength (RSI) | 46 |
| Short interest | 21.1% |
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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| IAK | iShares U.S. Insurance ETF | 48.7% | +5 bp | +7.6% |
| KBWP | Invesco KBW Property & Casualty Insurance ETF | 35.9% | 0 bp | +7.4% |
| FXO | First Trust Financials AlphaDEX Fund | 30.0% | +27 bp | +8.5% |
| RSPF | Invesco S&P 500 Equal Weight Financials ETF | 29.9% | +5 bp | +6.8% |
| IYF | iShares U.S. Financials ETF | 18.2% | +5 bp | +6.1% |
| FNCL | Fidelity MSCI Financials Index ETF | 15.5% | -27 bp | +6.7% |
| FTDS | First Trust Dividend Strength ETF | 15.1% | +35 bp | +8.5% |
| VFH | Vanguard Financials ETF | 14.1% | -26 bp | +6.7% |
| XLF | Financial Select Sector SPDR Fund | 13.2% | -27 bp | +6.0% |
| REGL | ProShares S&P MidCap 400 Dividend Aristocrats ETF | 13.0% | +5 bp | +7.7% |
Risk and Returns: KIE 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 10/30/2025
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
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™
KIE
7.3%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 993 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.4%. KIE's ALTAR Score™ is approximately
0.7 standard deviations
above
the category average. This places KIE in the 76th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
KIESELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive US Equity ETFs |
| # of ETFs | 217 |
| Avg. Expense Ratio | 31.1 bp |
| Std. Deviation | 25.2 bp |
| KIE (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) |
|
|---|---|---|---|
| KIE | 35.0 | 2.5 | 37.5 |
| Peer Avg. | 31.1 | 10.5 | 41.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .