FXO vs KIE: Grades, Fees and Holdings Compared

First Trust Financials AlphaDEX Fund

FXOBNYSE Arca

State Street SPDR S&P Insurance ETF

KIEANYSE Arca

Overlap

40.3%by weight

Expense ratio

KIE −0.25pt a year

FXO0.60%KIE0.35%

Avg volume · 30D

KIE 20.2×the volume

FXO58.7KKIE1.19M

10Y return · a year

FXO +1.1pt

FXO+12.9%KIE+11.8%

FXO vs KIE Performance

Nov 9, 2021 – Nov 9, 2026

+55.1%FXO+73.4%KIE

Expense ratio: FXO 0.60%; KIE 0.35%, better
Fund size: FXO $1.07B; KIE $549M
1Y total return: FXO +16.0%, better; KIE +12.5%
Yield (12M): FXO 2.13%, better; KIE 1.53%
Holdings: FXO 106; KIE 56
Avg volume (30D): FXO 58.7K sh; KIE 1.19M sh, better
NAV per share: FXO $64.72; KIE $64.26
52W range

ETF.net Grade

Pillar letters and Scores for FXO, KIE, with each pillar’s weight
Pillar	FXO	KIE
Cost30% weight	F15	A74Higher
Mission25% weight	A99Higher	A77
Risk15% weight	B63Higher	B60
Tradability15% weight	C53	A82Higher
Holdings10% weight	A85Higher	A79
Durability5% weight	C49	C52Higher

Rank among Financials (Broad) funds

How we build Categories ›

Same Category. FXO and KIE are both graded against the same 18 Financials (Broad) funds, so their Grades compare head to head.

Financials (Broad)⁠

Category · 18 funds

See all 18 ›

KIE ranks 2nd and FXO 10th of 18 funds in the Financials (Broad) Category.

Rank 1AXLFState Street Financial Select Sector SPDR ETFScore 82
Rank 2AFNCLFidelity MSCI Financials Index ETFScore 73
Rank 2AKIEState Street SPDR S&P Insurance ETFScore 73
Rank 4BVFHVanguard Financials ETFScore 69
Rank 9BIAKiShares U.S. Insurance ETFScore 58
Rank 10BFXOFirst Trust Financials AlphaDEX FundScore 57
Rank 11CRSPFInvesco S&P 500 Equal Weight Financials ETFScore 54

Our read on each fund

ETF.net Research

FXOBFirst Trust Financials AlphaDEX Fund

KIEAState Street SPDR S&P Insurance ETF

In short

FXO No data

KIE Most financial-sector funds are banks with a side of insurance. KIE flips it: roughly 50 insurance stocks and nothing else, running since 2005 at a price below the typical broad-financials fund.

Stated mandate

FXO No data

KIE The fund seeks to track, before fees and expenses, the total return performance of the S&P Insurance Select Industry Index.

Why people hold it

FXO No data

KIE 0.35% a year, under the 0.44% median for its financials peer group, and modest for a single-industry slice.
Trading since 2005, through the financial crisis and every rate cycle since.
One of the more actively traded funds in its category, which typically shows up as tighter bid-ask spreads for the people buying it.
Roughly 50 insurance names, few enough to actually read the holdings list, with distributions paid quarterly.ssga.com

Worth knowing

FXO No data

KIE Broad financials rivals like XLF and VFH charge closer to 0.08%. The insurance-only focus costs extra.
One industry, about 50 stocks: catastrophe losses, reserve surprises and rate swings hit the whole basket at once.
Insurance is a slice of the financial sector, not a stand-in for it. Banks, exchanges and payment networks sit outside this index.ssga.com

Full FXO profile⁠

Full KIE profile⁠

FXO vs KIE Holdings

How FXO and KIE differ

Overlap by weight

40.3%

Shared holdings make up 65.5% of KIE and 40.4% of FXO.

Level by level

Holdings35 in both40.3%
Sector4 Sectors93.5%
Countryby domicile99.1%
Asset classStocks100%

Sector

Sector weights in FXO and KIE, widest gap first
Sector	Gap	FXO	KIE
Financials	KIE +4.8 points	93.5%	98.3%
Real Estate	FXO +4.0 points	4.0%	0.0%
Technology	FXO +2.6 points	2.5%	0.0%
Health Care	KIE +1.7 points	0.0%	1.7%

Country, concentration and asset class

Country by domicile

Country weights in FXO and KIE, widest gap first
Country	Gap	FXO	KIE
Switzerland	KIE +0.9 points	1.0%	1.9%
United States	FXO +0.7 points	98.8%	98.1%
Brazil	FXO +0.2 points	0.2%	0.0%

Concentration

Weight in the 10 largest Holdings

FXO17.8%
KIE20.6%

Securities held

FXO105
KIE54

Asset class

FXO: Stocks
KIE: Stocks

Holdings

Only in FXO70
In both35
Only in KIE19

Only in FXO

70 securities, 59.5% of FXO by weight

Chime Financial, Inc. (Class A)1.84%
Berkshire Hathaway Inc. (Class B)1.79%
MGIC Investment Corporation1.73%
Bank OZK1.72%
T. Rowe Price Group, Inc.1.63%
Annaly Capital Management, Inc.1.55%
AGNC Investment Corp.1.51%
Central Bancompany, Inc.1.44%
Truist Financial Corporation1.27%
Columbia Banking System, Inc.1.27%
CNA Financial Corporation1.26%
SouthState Bank Corporation1.25%
F.N.B. Corporation1.23%
Jefferies Financial Group Inc.1.23%
Zions Bancorporation, National Association1.23%
Ally Financial Inc.1.20%
OneMain Holdings, Inc.1.20%
Western Alliance Bancorporation1.19%
M&T Bank Corporation1.19%
Affiliated Managers Group, Inc.1.18%
LPL Financial Holdings Inc.1.15%
FactSet Research Systems Inc.1.08%
Interactive Brokers Group, Inc. (Class A)1.06%
Evercore Inc.0.98%
First Citizens BancShares, Inc. (Class A)0.98%
Prosperity Bancshares, Inc.0.97%
Pinnacle Financial Partners, Inc.0.96%
Regions Financial Corporation0.94%
Rithm Capital Corp.0.92%
Hamilton Lane Incorporated (Class A)0.92%
SEI Investments Company0.91%
BOK Financial Corporation0.91%
Northern Trust Corporation0.91%
Ameriprise Financial, Inc.0.91%
First Hawaiian, Inc.0.90%
First Horizon Corporation0.89%
SLM Corporation0.89%
Citigroup Inc.0.82%
Morningstar, Inc.0.76%
Broadridge Financial Solutions, Inc.0.70%
Freedom Holding Corp.0.63%
Wintrust Financial Corporation0.63%
Wells Fargo & Company0.62%
KeyCorp0.62%
Corebridge Financial, Inc.0.61%
U.S. Bancorp0.61%
The Bank of New York Mellon Corporation0.61%
Stifel Financial Corp.0.60%
The PNC Financial Services Group, Inc.0.60%
Popular, Inc.0.60%

Only in KIE

19 securities, 34.4% of KIE by weight

Kemper Corp2.19%
Palomar Holdings Inc2.09%
Marsh & Mclennan Cos2.07%
Arthur J Gallagher & Co2.06%
Baldwin Insurance Group Inc/2.02%
Erie Indemnity Company Class A2.00%
Selective Insurance Group1.97%
Siriuspoint Ltd1.94%
Horace Mann Educators1.92%
Skyward Specialty Insurance1.91%
Metlife Inc1.84%
Cno Financial Group Inc1.81%
Principal Financial Group1.74%
Oscar Health Inc Class A1.72%
Brighthouse Financial Inc1.49%
Genworth Financial Inc1.48%
Mercury General Corp1.46%
Lemonade Inc1.44%
Stewart Information Services1.25%

Weight gaps

All 35 Holdings in both funds, largest gap first.

Holding weights in FXO and KIE, widest gap first
Holding	Gap	FXO	KIE
American Financial Group, Inc.AFG	KIE +1.63 points	0.34%	1.97%
Aon Plc (Class A)AON	KIE +1.60 points	0.36%	1.96%
W.R. Berkley CorporationWRB	KIE +1.59 points	0.33%	1.92%
Brown & Brown, Inc.BRO	KIE +1.59 points	0.35%	1.94%
Willis Towers Watson PlcWTW	KIE +1.53 points	0.34%	1.87%
Ryan Specialty Holdings, Inc. (Class A)RYAN	KIE +1.39 points	0.77%	2.16%
Reinsurance Group of America, IncorporatedRGA	KIE +1.28 points	0.63%	1.91%
Assurant, Inc.AIZ	KIE +1.27 points	0.69%	1.96%
Unum GroupUNM	KIE +1.21 points	0.26%	1.47%
Prudential Financial, Inc.PRU	KIE +1.19 points	0.62%	1.81%
Primerica, Inc.PRI	KIE +1.17 points	0.63%	1.80%
Aflac IncorporatedAFL	KIE +0.94 points	0.99%	1.93%
Chubb LimitedCB	KIE +0.93 points	1.00%	1.93%
RLI Corp.RLI	KIE +0.89 points	1.10%	1.99%
Kinsale Capital Group, Inc.KNSL	KIE +0.85 points	1.06%	1.91%
Globe Life Inc.GL	KIE +0.81 points	0.84%	1.65%
Fidelity National Financial, Inc.FNF	KIE +0.75 points	1.01%	1.76%
The Travelers Companies, Inc.TRV	KIE +0.61 points	1.32%	1.93%
The Hanover Insurance Group, Inc.THG	KIE +0.59 points	1.35%	1.94%
The Progressive CorporationPGR	KIE +0.58 points	1.31%	1.89%
Loews CorporationL	KIE +0.55 points	1.25%	1.80%
Lincoln National CorporationLNC	KIE +0.45 points	1.19%	1.64%
Everest Group, Ltd.EG	KIE +0.24 points	1.76%	2.00%
American International Group, Inc.AIG	KIE +0.22 points	1.63%	1.85%
RenaissanceRe Holdings Ltd.RNR	KIE +0.22 points	1.71%	1.93%
White Mountains Insurance Group Ltd.WTM	KIE +0.20 points	1.75%	1.95%
Arch Capital Group Ltd.ACGL	KIE +0.17 points	1.82%	1.99%
Markel Group IncMKL	KIE +0.17 points	1.77%	1.94%
Axis Capital Holdings LimitedAXS	KIE +0.17 points	1.76%	1.93%
Cincinnati Financial CorporationCINF	KIE +0.14 points	1.82%	1.96%
Assured Guaranty Ltd.AGO	KIE +0.12 points	1.70%	1.82%
Old Republic International CorporationORI	KIE +0.07 points	1.66%	1.73%
First American Financial CorporationFAF	FXO +0.06 points	1.73%	1.67%
The Hartford Insurance Group, Inc.HIG	KIE +0.04 points	1.71%	1.75%
The Allstate CorporationALL	Same weight	1.80%	1.80%

All 105 FXO holdings⁠All 54 KIE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FXO vs KIE Cost

Overpaying FXO vs KIE

$4,691

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

FXO 0.60%
$11,817
KIE 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

FXO 0.60%
KIE 0.35%
Overpaying

Year by year

Year	FXO	KIE	Overpaying
10	$1,076	$634	$442
20	$4,116	$2,454	$1,662
30	$11,817	$7,126	$4,691

Expense ratio

0.60%FXO
0.35%KIE, cheaper

KIE0.35%FXO0.60%

0.08%5.39%

Middle half of Financials (Broad) funds
Median 0.37%

KIE 5th cheapest of 18 funds

FXO 15th cheapest of 18 funds

FXO vs KIE Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FXO 2.13%, better; KIE 1.53%
Payout (12M): FXO $1.40; KIE $0.99
Last payment: FXO $0.33; KIE $0.18
Ex-dividend: FXO Sep 24, 2026; KIE Sep 21, 2026
Paid on: FXO Sep 30, 2026; KIE Sep 23, 2026
Frequency: FXO Quarterly; KIE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FXOQuarterly · 39 paymentsAll FXO payments⁠

KIEQuarterly · 39 paymentsAll KIE payments⁠

FXO vs KIE Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: FXO 17.3%, betterKIE 17.8%
Return per unit of riskSharpe ratio, 3 years: FXO 1.07, betterKIE 0.68
Worst fallMax drawdown, 5 years: FXO −28.8%KIE −15.7%, better
Market sensitivityBeta, 5 years: FXO 0.95KIE 0.46; Market = 1

FXO and KIE in the news

All news⁠

Deep Dive
Bank earnings week will miss most of what a financials fund owns
Oct 12, 2026FXO
Deep Dive
Financials drop 2.4% after the Fed's first hike since 2023 and a Bank of America fee warning
Sep 19, 2026KIE

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FXO vs KIE

In short

Stated mandate

Why people hold it

Worth knowing

How FXO and KIE differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FXO

Only in KIE

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Bank earnings week will miss most of what a financials fund owns

Financials drop 2.4% after the Fed's first hike since 2023 and a Bank of America fee warning

How FXO and KIE differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FXO

Only in KIE

Weight gaps