KBE: SPDR S&P Bank ETF returns, drawdowns and risk
Funds on a single sector of the US market: financials, energy, health care, industrials and more.
Data updated October 2026
KBE · US exchange · USDCategory: US sector ETFsData from October 2006
From October 2006 to October 2026 KBE returned 3.0% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $18,195.
Its deepest fall was 83.2%, from February 2007 to March 2009, and it took about 129 months to get back to the previous high. Annual volatility was 35.0%; at the last close it was 9.7% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 240 months both have data, the correlation of monthly returns was 0.69: they moved together only in part. Beta was 1.23. In months when SPY rose, KBE moved 101% as much on average; in months when SPY fell, 134% as much.
Key figures
- Annual return (CAGR)
- +3.0%
- 1-year return
- +15.3%
- 5 years, a year
- +5.4%
- 10 years, a year
- +9.2%
- Annual volatility
- 35.0%
- Maximum drawdown
- −83.2%
- Sharpe ratio
- 0.21
- Worst year
- 2008: −47.3%
Trailing returns
| Period | KBE | SPY |
|---|---|---|
| 1 year | +15.3% | +16.6% |
| 3 years, a year | +25.9% | +23.1% |
| 5 years, a year | +5.4% | +12.7% |
| 10 years, a year | +9.2% | +15.4% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: KBE vs SPY
Month-end values from November 2006, the first month both funds have data.
KBE drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | KBE | SPY |
|---|---|---|
| 2026(partial) | +7.8% | +13.3% |
| 2025 | +12.4% | +17.7% |
| 2024 | +23.8% | +24.9% |
| 2023 | +5.3% | +26.2% |
| 2022 | −14.8% | −18.2% |
| 2021 | +33.5% | +28.7% |
| 2020 | −8.8% | +18.3% |
| 2019 | +29.8% | +31.2% |
| 2018 | −19.6% | −4.6% |
| 2017 | +10.5% | +21.7% |
| 2016 | +30.8% | +12.0% |
| 2015 | +2.5% | +1.2% |
| 2014 | +2.8% | +13.5% |
| 2013 | +41.4% | +32.3% |
| 2012 | +22.7% | +16.0% |
| 2011 | −22.1% | +1.9% |
| 2010 | +23.1% | +15.1% |
| 2009 | −1.8% | +26.4% |
| 2008 | −47.3% | −36.8% |
| 2007 | −21.6% | +5.1% |
| 2006(partial) | +3.6% | — |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of KBE?
From October 2006 to October 2026 KBE returned 3.0% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: +5.4% a year. Over the last 12 months: +15.3%.
What was the worst drawdown of KBE?
83.2%, from February 2007 to March 2009; it took about 129 months from the previous high to get back to it.
How volatile is KBE?
Annual volatility was 35.0% over the period. Its worst month was −35.1% and 56% of months were positive. Worst calendar year: 2008 (−47.3%).
How closely does KBE follow SPY?
Over 240 months the correlation of monthly returns was 0.69, so they moved together only in part, with a beta of 1.23.
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Other US sector ETFs
- All US sector ETFsReturns and risk side by side
- XLF — Financial Select Sector SPDR FundCAGR +16.3%
- XLV — Health Care Select Sector SPDR FundCAGR +11.0%
- XLI — Industrial Select Sector SPDR FundCAGR +10.3%
- XLP — Consumer Staples Select Sector SPDR FundCAGR +9.2%
- XLC — Communication Services Select Sector SPDR FundCAGR +12.7%
- VHT — Vanguard Health Care ETFCAGR +10.3%
- VFH — Vanguard Financials ETFCAGR +16.5%
- VDE — Vanguard Energy ETFCAGR +26.4%
- IBB — iShares Biotechnology ETFCAGR +11.2%
- XBI — SPDR S&P Biotech ETFCAGR +6.2%
- KRE — SPDR S&P Regional Banking ETFCAGR +4.4%
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.