KRE
SPDR S&P Regional Banking ETF
SPDR KBW Regional Banking ETF objective is to replicate as closely as possible the performance of the KBW Regional Banking Index, an equal-weighted index.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
3.5 B
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
Fund sponsor | SSGA Funds Management Inc |
Category | US |
Asset class | Equity |
Website | link... |
Inception date | Jun 19, 2006 |
Assets (mns) | $3,524 |
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 +
WESTERN ALLIANCE BANCORP | 2.7 % |
COLUMBIA BANKING SYSTEM INC | 2.5 % |
VALLEY NATIONAL BANCORP | 2.5 % |
NEW YORK COMMUNITY BANCORP | 2.3 % |
M & T BANK CORP | 2.2 % |
REGIONS FINANCIAL CORP | 2.2 % |
SYNOVUS FINANCIAL CORP. | 2.2 % |
CITIZENS FINANCIAL GROUP, INC. | 2.2 % |
WEBSTER FINANCIAL CORP | 2.2 % |
HUNTINGTON BANCSHARES INC | 2.1 % |
Constituent Breakdown
Number of holdings | 139 |
Herfindahl-Hirschman Index | 139 |
Wgt avg mkt cap (mns) | $6,624 |
Large cap (>$10bn) | 13.6% |
Mid cap ($2-10bn) | 66.3% |
Small cap (<$2bn) | 20.0% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
UNITED STATES | 92.7 % | |
PUERTO RICO | 2.8 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
Total Returns | 10.4% | 41.0% | 1.7% | -2.7% | 4.6% | 6.7% | 3.4% | Volatility | 25.9% | 29.8% | 32.1% | 31.0% | 38.0% | 30.9% | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.85 | 22% |
MSCI EAFE | 0.90 | 25% |
MSCI Emg Mkts | 0.72 | 15% |
Liquidity Measures
Avg. volume (000) | 11,966 |
Turnover | 19.0% |
Avg. Bid/Ask (% of price) | 0.02% |
ADV of underlying (mns) | $2,386 |
Technical Indicators
Recent close | $55.84 |
30d moving avg. | $55.92 |
Annualized volatility | 32.3% |
Relative strength (RSI) | 46 |
Short interest (ETF) | 79.1% |
Short interest (underlying) | 2.3% |
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. KRE |
Expenses vs. KRE |
ALTAR Score™ vs. KRE |
---|---|---|---|---|
KBE | SPDR S&P Bank ETF | 58.9% | 0 bp | -0.2% |
KBWR | Invesco KBW Regional Banking ETF | 52.3% | 0 bp | -0.5% |
FTXO | First Trust Nasdaq Bank ETF | 39.5% | +25 bp | -0.3% |
IAT | iShares U.S. Regional Banks ETF | 38.8% | +5 bp | +0.1% |
QABA | First Trust NASDAQ ABA Community Bank Index Fund | 32.6% | +25 bp | -1.1% |
SVAL | iShares US Small Cap Value Factor ETF | 27.3% | -15 bp | +1.1% |
PSCF | Invesco S&P SmallCap Financials ETF | 26.8% | -6 bp | -0.5% |
FXO | First Trust Financials AlphaDEX Fund | 18.5% | +27 bp | -1.7% |
DFSV | Dimensional US Small Cap Value ETF | 18.1% | -4 bp | -0.7% |
KBWB | Invesco KBW Bank ETF | 17.8% | 0 bp | -1.0% |
Risk and Returns: KRE 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 10/4/2024
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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
KRE
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
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
KRE
9.6%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 936 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.4%. KRE's ALTAR Score™ is approximately
1.7 standard deviations
above
the category average. This places KRE in the 95th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
KRESELL
U/W
HOLD
O/W
BUY
Expense Analysis
Peer Group | Rules-Based US Equity ETFs |
# of ETFs | 609 |
Avg. Expense Ratio | 46.6 bp |
Std. Deviation | 32.9 bp |
KRE (35 bp) Percentile rank | 36 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
KRE | 35.0 | 2.3 | 37.3 |
Peer Avg. | 35.4 | 14.9 | 50.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .