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
3.4 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) | $3,418 |
| 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 +
| EAST WEST BANCORP INC | 2.6 % |
| CITIZENS FINANCIAL GROUP, INC. | 2.6 % |
| TRUIST FINANCIAL CORPORATION | 2.5 % |
| FIRST HORIZON NATIONAL CORP | 2.5 % |
| ZIONS BANCORPORATION | 2.5 % |
| M & T BANK CORP | 2.5 % |
| REGIONS FINANCIAL CORP | 2.5 % |
| WESTERN ALLIANCE BANCORP | 2.5 % |
| HUNTINGTON BANCSHARES INC | 2.5 % |
| WEBSTER FINANCIAL CORP | 2.4 % |
Constituent Breakdown
| Number of holdings | 144 |
| Herfindahl-Hirschman Index | 164 |
| Wgt avg mkt cap (mns) | $7,950 |
| Large cap (>$10bn) | 17.4% |
| Mid cap ($2-10bn) | 66.3% |
| Small cap (<$2bn) | 14.8% |
| Developed mkts. | 98.2% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 94.9 % |
 |
PUERTO RICO | 3.4 % |
Historical Performance
Standardized Performance (as of 06/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -1.6% | 21.0% | 20.6% | 0.7% | 9.1% | 3.0% | -- | 1.1% |
| Dividend Yield | 0.7% | 1.7% | 2.8% | 2.6% | 2.8% | 2.4% | -- | 2.4% |
| Total Returns | -0.9% | 22.6% | 23.5% | 3.4% | 11.9% | 5.4% | -- | 3.6% | Ann. Volatility | 31.9% | 32.7% | 30.6% | 32.3% | 32.7% | 32.1% | -- | 33.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.08 | 27% |
| MSCI EAFE | 0.84 | 17% |
| MSCI Emg Mkts | 0.52 | 7% |
Liquidity Measures
| Avg. volume (000) | 11,963 |
| ADV traded (mns) | $710 |
| Turnover | 20.8% |
| Avg. Bid/Ask (% of price) | 0.02% |
Technical Indicators
| Recent close | $59.39 |
| 30d moving avg. | $57.28 |
| Annualized volatility | 33.5% |
| Relative strength (RSI) | 56 |
| Short interest | 100.2% |
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. |
|---|---|---|---|---|
| KBE | SPDR S&P Bank ETF | 57.7% | 0 bp | 0.0% |
| KBWR | Invesco KBW Regional Banking ETF | 51.8% | 0 bp | 0.0% |
| IAT | iShares U.S. Regional Banks ETF | 43.2% | +5 bp | 0.0% |
| FTXO | First Trust Nasdaq Bank ETF | 41.0% | +25 bp | 0.0% |
| QABA | First Trust NASDAQ ABA Community Bank Index Fund | 30.8% | +25 bp | 0.0% |
| SVAL | iShares US Small Cap Value Factor ETF | 28.7% | -15 bp | 0.0% |
| XMVM | Invesco S&P MidCap Value with Momentum ETF | 26.0% | +4 bp | 0.0% |
| PSCF | Invesco S&P SmallCap Financials ETF | 25.7% | -6 bp | 0.0% |
| DFSV | Dimensional US Small Cap Value ETF | 19.2% | -4 bp | 0.0% |
| KBWB | Invesco KBW Bank ETF | 18.8% | 0 bp | 0.0% |
Risk and Returns: 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 7/1/2025
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
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
KRE
0.0%
Cat. Avg
4.9%
ALTAR Score™ Calculation
Category Overview
There are 42 funds in the US Equity category, with an average ALTAR Score™
of 4.9% and a standard deviation of
2.1%. KRE's ALTAR Score™ is approximately
0.0 standard deviations
below
the category average. This places KRE in the 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 |
| (35 bp) Percentile rank | 37 |
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 | 0.0 | 35 |
| Peer Avg. | 37.5 | 15.5 | 52.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .