Skip to content
etf.net

Launched · SEC filings

State Street SPDR S&P Bank ETF

KBENYSE ArcaSPDRB

$67.23+1.53 (+2.33%)

At close: Nov 2, 2026, 4:00 PM ET

B63/ 100

Rank 2 of 9 in Banks

B63/100Rank 2 of 9inBanks
Intraday session: up, 79 prints from 65.70 to 67.23. Range 66.12 to 67.55. Use the arrow keys to read each point.66.0066.5067.0067.5010 AM12 PM2 PM4 PM
Expense ratio
0.35%
Fund size
$1.54B
1Y total return
+18.5%
Yield · Last 12 months
2.24%
Holdings
109
Avg volume · 30D
1.6M sh
52W range
low $54.85high $71.92
Launched
Filings
SEC EDGAR

The ETF.net KBE Grade

Based on 5 of 6 pillars

B

Score 63 out of 100

Category
Banks⁠
Rank
2 of 9
Six-pillar profile for KBE. Scores out of 100: Cost 62, Risk 46, Mission not scored, Tradability 68, Holdings 86, Durability 76. Strongest: Holdings (86). Weakest: Risk (46). Based on 5 of 6 pillars.

Score 63 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B62 out of 100
    Rank 2 of 9

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C46 out of 100
    Rank 5 of 9

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B68 out of 100
    Rank 3 of 9

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A86 out of 100
    Rank 1 of 9

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A76 out of 100
    Rank 2 of 9

Our read on KBE

ETF.net Research

In short

BOne of the original bank ETFs, running since 2005. It holds roughly 100 US banks in one ticker, spanning the whole bank segment of the market rather than a shortlist of household-name giants.

Stated mandate

The fund seeks to match, before fees and expenses, the total return of the S&P Banks Select Industry Index and provides targeted exposure to the bank segment of the S&P Total Market Index.

Why people hold it

  • Launched in 2005, so it has been trading through every bank cycle since, including 2008 and the 2023 regional-bank stress.
  • Roughly 100 holdings covering the bank slice of the S&P Total Market Index, so no single lender's headline defines the whole fund.
  • The job is simple (match the S&P Banks Select Industry Index before fees) and the tracking is among the tightest in the bank-ETF group.
  • A billion-dollar-plus fund that trades actively, which is what keeps bid-ask costs modest for ordinary-sized orders.

Worth knowing

  • The 0.35% expense ratio sits right at the middle of the bank-ETF pack, not below it. PBEU charges 0.25%, though it buys European banks.
  • One sector, one country. US bank stocks tend to move together with rates and credit conditions, so this concentrates risk rather than spreading it.
  • Distributions land quarterly, not monthly.

KBE Holdings

Holdings pillarA86 out of 100Rank 1 of 9 in Banks
Asset class
Stocks
Holdings
109
Top-10 weight
10%
Largest holding
FCNCA1.1%

Sectors

  • Financials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 8.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1FCNCAFirst Citizens Bcshs Class A1.06%6,747$16.3M167
2CUBICustomers Bancorp Inc1.06%183,660$16.3M117
3CBCCentral Bancompany1.06%447,894$16.3M60
4GBCIGlacier Bancorp Inc1.01%313,710$15.5M123
5CATYCathay General Bancorp1.01%234,031$15.5M134
6UCBUnited Community Banks/Ga1.01%409,672$15.4M134
7OZKBank Ozk1.00%294,823$15.3M159
8TCBITexas Capital Bancshares Inc1.00%147,141$15.3M127
9EQHEquitable Holdings Inc0.99%275,584$15.2M144
10CRBGCorebridge Financial Inc0.99%424,462$15.2M145
11EBCEastern Bankshares Inc0.99%661,225$15.2M117
12COLBColumbia Banking System Inc0.98%481,069$15.1M155
13UBSIUnited Bankshares Inc0.98%306,081$15.1M154
14VLYValley National Bancorp0.98%1,043,248$15.1M150
15EWBCEast West Bancorp Inc0.98%111,912$15.1M193

Showing 1–15 of 109 holdings

KBE Performance

Launched Nov 8, 2005

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

KBE$11,851
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. KBE $11,851. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000$13,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for KBE. Periods over one year show the average yearly return.
PeriodKBE
Year to date+10.1%
1 month+3.9%
3 months−5.1%
1 year+18.5%
3 yearsper year+26.2%
5 yearsper year+6.4%
10 yearsper year+9.3%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for KBE
YearReturn barKBE
2026 YTD+10.1%
2025+12.3%
2024+23.8%
2023+5.3%
2022−14.9%
2021+33.5%
2020−8.7%

KBE in the news

KBE Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
2.24%Last 12 months
Payout per share
$1.47Last 12 months
Last payment
$0.38 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.11; Jun 16, 2017 $0.15; Sep 15, 2017 $0.17; Dec 15, 2017 $0.21; Mar 16, 2018 $0.16; Jun 15, 2018 $0.17; Sep 21, 2018 $0.22; Dec 21, 2018 $0.26; Mar 15, 2019 $0.21; Jun 21, 2019 $0.29; Sep 20, 2019 $0.26; Dec 20, 2019 $0.33; Mar 23, 2020 $0.16; Jun 22, 2020 $0.28; Sep 21, 2020 $0.28; Dec 21, 2020 $0.30; Mar 22, 2021 $0.32; Jun 21, 2021 $0.24; Sep 20, 2021 $0.26; Dec 20, 2021 $0.36; Mar 21, 2022 $0.35; Jun 21, 2022 $0.29; Sep 19, 2022 $0.30; Dec 19, 2022 $0.42; Mar 20, 2023 $0.27; Jun 20, 2023 $0.30; Sep 18, 2023 $0.37; Dec 18, 2023 $0.34; Mar 18, 2024 $0.31; Jun 24, 2024 $0.33; Sep 23, 2024 $0.32; Dec 23, 2024 $0.34; Mar 24, 2025 $0.38; Jun 23, 2025 $0.37; Sep 22, 2025 $0.37; Dec 22, 2025 $0.41; Mar 23, 2026 $0.34; Jun 22, 2026 $0.35; Sep 21, 2026 $0.38. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 21, 2026Sep 23, 2026$0.38
Jun 22, 2026Jun 24, 2026$0.35
Mar 23, 2026Mar 25, 2026$0.34
Dec 22, 2025Dec 24, 2025$0.41
Sep 22, 2025Sep 24, 2025$0.37
Jun 23, 2025Jun 25, 2025$0.37
Mar 24, 2025Mar 26, 2025$0.38
Dec 23, 2024Dec 26, 2024$0.34
Sep 23, 2024Sep 25, 2024$0.32
Jun 24, 2024Jun 26, 2024$0.33
Mar 18, 2024Mar 21, 2024$0.31
Dec 18, 2023Dec 21, 2023$0.34

See all 84 payments⁠

$10,000 in KBE 10 years ago paid $3,361 in dividends.⁠

KBE Risk

Risk pillarC46 out of 100Rank 5 of 9 in Banks
How much the fund’s monthly returns vary, scaled to a year.
22.2%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.96
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−45.3%
Trough May 2023
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.12
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

KBE Cost

Compare KBE and PBEU

Overpaying vs PBEU, cheapest in Banks

$4,400

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • KBE 0.35%

    $7,126

  • PBEU 0.13% Cheapest

    $2,726

$10,000
30 years

Cost over time

  • KBE 0.35%
  • PBEU 0.13%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530KBE $7,126PBEU $2,726

Year by year

YearKBEPBEUOverpaying
10$634$238$396
20$2,454$930$1,524
30$7,126$2,726$4,400

Other funds in Banks

See others