IAT vs KRE: Grades, Fees and Holdings Compared

iShares U.S. Regional Banks ETF

IATDNYSE Arca

State Street SPDR S&P Regional Banking ETF

KREBNYSE Arca

Overlap

26.2%by weight

Expense ratio

KRE −0.02pt a year

IAT0.37%KRE0.35%

Avg volume · 30D

KRE 57.3×the volume

IAT238KKRE13.6M

10Y return · a year

IAT +0.1pt

IAT+8.2%KRE+8.1%

IAT vs KRE Performance

Nov 3, 2021 – Nov 3, 2026

+6.9%IAT+11.4%KRE

Expense ratio: IAT 0.37%; KRE 0.35%, better
Fund size: IAT $646M; KRE $3.94B
1Y total return: IAT +25.3%, better; KRE +24.1%
Yield (12M): IAT 2.72%, better; KRE 2.21%
Holdings: IAT 33; KRE 169
Avg volume (30D): IAT 238K sh; KRE 13.6M sh, better
NAV per share: IAT $60.96; KRE $73.69
52W range

ETF.net Grade

Pillar letters and Scores for IAT, KRE, with each pillar’s weight
Pillar	IAT	KRE
Cost30% weight	D31	B62Higher
Mission25% weight	C47Higher	D36
Risk15% weight	D33	C40Higher
Tradability15% weight	C54	A88Higher
Holdings10% weight	F12	A85Higher
Durability5% weight	B68	A80Higher

Rank among Banks funds

How we build Categories ›

Same Category. IAT and KRE are both graded against the same 9 Banks funds, so their Grades compare head to head.

Banks⁠

Category · 9 funds

See all 9 ›

KRE ranks 1st and IAT 8th of 9 funds in the Banks Category.

Rank 1BKREState Street SPDR S&P Regional Banking ETFScore 66
Rank 2BKBEState Street SPDR S&P Bank ETFScore 64
Rank 8DFTXOFirst Trust Nasdaq Bank ETFScore 36
Rank 8DIATiShares U.S. Regional Banks ETFScore 36

Our read on each fund

ETF.net Research

IATDiShares U.S. Regional Banks ETF

KREBState Street SPDR S&P Regional Banking ETF

In short

IAT Regional banking, undiluted: about 30 U.S. lenders, no insurers or brokers padding the basket, from an iShares fund that has been on the tape since 2006.

KRE The regional-bank trade in one ticker. Since 2006 KRE has tracked a modified equal-weighted basket of US regional banks and thrifts, so a small-town lender can pull as much weight as a big multi-state one.

Stated mandate

IAT The Fund seeks to track an index of U.S. equity securities from the regional banking sector. It uses representative sampling to pursue index-like investment characteristics rather than necessarily holding every constituent.

KRE The fund seeks to track, before fees and expenses, the total return of an index representing the regional banking segment of the U.S. banking industry.

Why people hold it

IAT Narrow by design: roughly 30 U.S. regional bank stocks, not a broad-financials grab bag.
Launched in 2006, so it has traded through multiple bank-stress cycles rather than arriving after one.
Pays quarterly and tracks a published benchmark, the Dow Jones U.S. Select Regional Banks Index, so the mandate is easy to check.ishares.com

KRE Modified equal weighting spreads roughly 160 banks and thrifts across large, mid and small caps, so no single lender dominates the basket.ssga.com
Among the most actively traded funds in its category, so getting in and out tends to be cheap even on noisy bank-headline days.
Running since 2006, it has traded through the 2008 crisis and the 2023 regional-bank stress, at 0.35% a year, matching its cohort's median fee.
Stays inside the regional banks sub-industry rather than blending in the money-center giants: a cleaner expression of the regional story than a broad bank fund.ssga.com

Worth knowing

IAT The 0.37% fee sits a notch above the going rate in bank ETFs; peers KBE, KBWB and KRE each list 0.35%.
One sector, one country, about 30 names. Rate swings and credit scares land here with nothing else in the basket to absorb them.
It samples the index rather than holding every constituent, so results can drift from the benchmark.ishares.com

KRE Equal weighting gives smaller lenders the same pull as big ones, which can make the ride bumpier than a cap-weighted bank fund such as KBWB.
One country, one sub-industry: a rate shock, credit scare or deposit run tends to hit every holding at once.
Inside a competitive group of bank funds it lands in the lower half overall, with trading ease its clear strength. Distributions arrive quarterly.

Full IAT profile⁠

Full KRE profile⁠

IAT vs KRE Holdings

How IAT and KRE differ

Overlap by weight

26.2%

Shared holdings make up 57.7% of IAT and 27.5% of KRE.

Level by level

Sector3 Sectors0.0%
Holdings25 in both26.2%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in IAT and KRE, widest gap first
Sector	Gap	IAT	KRE
Financials	KRE +100.0 points	0.0%	100.0%
Regional Banks	IAT +57.7 points	57.7%	0.0%
Diversified Banks	IAT +42.3 points	42.3%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in IAT and KRE, widest gap first
Country	More in IATMore in KRE	Gap	IAT	KRE
United States		Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

IAT69.0%
KRE11.7%

Securities held

IAT30
KRE167

Asset class

IAT: Equity
KRE: Equity

Holdings

Only in IAT5
In both25
Only in KRE142

Only in IAT

5 securities, 42.1% of IAT by weight

Us Bancorp14.95%
Pnc Financial Services Group14.67%
Fifth Third Bancorp5.22%
First Citizens Bancshares Class A3.76%
Keycorp3.47%

Only in KRE

142 securities, 72.4% of KRE by weight

United Community Banks/Ga1.18%
Texas Capital Bancshares Inc1.18%
Eastern Bankshares Inc1.17%
Columbia Banking System Inc1.16%
First Interstate Bancsys A1.15%
Associated Banc Corp1.14%
Fulton Financial Corp1.14%
Nicolet Bankshares Inc1.13%
Atlantic Union Bankshares Co1.13%
Wsfs Financial Corp1.12%
Old National Bancorp1.12%
Axos Financial Inc1.12%
Banc of California Inc1.11%
First Hawaiian Inc1.11%
Ameris Bancorp1.10%
Cvb Financial Corp1.09%
Hancock Whitney Corp1.09%
Wesbanco Inc1.08%
Bankunited Inc1.08%
Seacoast Banking Corp/Fl1.07%
First Financial Bancorp1.05%
First Bancorp Puerto Rico1.05%
Simmons First Natl Corp Class A1.03%
Cathay General Bancorp1.03%
Independent Bank Corp/Ma0.99%
Renasant Corp0.97%
Bank of Hawaii Corp0.93%
Flagstar Bank Na0.89%
Central Bancompany0.88%
Customers Bancorp Inc0.87%
Columbia Financial Inc0.85%
International Bancshares Crp0.84%
Beacon Financial Corp0.83%
First Busey Corp0.80%
Provident Financial Services0.79%
Servisfirst Bancshares Inc0.77%
Bancorp Inc/The0.75%
Towne Bank0.73%
Banner Corporation0.70%
Oceanfirst Financial Corp0.67%
Fb Financial Corp0.67%
Pathward Financial Inc0.62%
N B T Bancorp Inc0.62%
Wafd Inc0.62%
Park National Corp0.59%
Trustmark Corp0.57%
Community Financial System I0.56%
Bancfirst Corp0.56%
First Merchants Corp0.56%
City Holding Co0.56%

Weight gaps

All 25 Holdings in both funds, largest gap first.

Holding weights in IAT and KRE, widest gap first
Holding	Gap	IAT	KRE
Truist FinancialTFC	IAT +8.52 points	9.62%	1.10%
Huntington Bancshares IncHBAN	IAT +3.34 points	4.40%	1.06%
Regions FinancialRF	IAT +3.33 points	4.40%	1.07%
M&T BankMTB	IAT +3.25 points	4.29%	1.04%
Citizens Financial Group IncCFG	IAT +3.23 points	4.26%	1.03%
East West BancorpEWBC	IAT +2.10 points	3.24%	1.14%
Pinnacle Financial PartnersPNFP	IAT +1.60 points	2.76%	1.16%
First HorizonFHN	IAT +0.94 points	2.00%	1.06%
PopularBPOP	IAT +0.75 points	1.81%	1.06%
Southstate Bank CorpSSB	IAT +0.73 points	1.85%	1.12%
Wintrust FinancialWTFC	IAT +0.72 points	1.87%	1.15%
Cullen Frost BankersCFR	IAT +0.68 points	1.77%	1.09%
Umb FinancialUMBF	IAT +0.68 points	1.75%	1.07%
Bok Financial CorpBOKF	KRE +0.62 points	0.47%	1.09%
Zions BancorporationZION	IAT +0.57 points	1.64%	1.07%
Prosperity BancsharesPB	IAT +0.43 points	1.57%	1.14%
Western AllianceWAL	IAT +0.32 points	1.41%	1.09%
Bank OzkOZK	KRE +0.31 points	0.87%	1.18%
Commerce BancsharesCBSH	IAT +0.28 points	1.34%	1.06%
First Financial Bankshares IncFFIN	KRE +0.20 points	0.72%	0.92%
Home Bancshares IncHOMB	KRE +0.11 points	1.02%	1.13%
Valley NationalVLY	IAT +0.06 points	1.22%	1.16%
Glacier Bancorp IncGBCI	KRE +0.05 points	1.15%	1.20%
United BanksharesUBSI	KRE +0.05 points	1.11%	1.16%
Fnb CorpFNB	IAT +0.04 points	1.16%	1.12%

All 30 IAT holdings⁠All 167 KRE 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.

IAT vs KRE Cost

Overpaying IAT vs KRE

$387

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

IAT 0.37%
$7,513
KRE 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

IAT 0.37%
KRE 0.35%
Overpaying

Year by year

Year	IAT	KRE	Overpaying
10	$670	$634	$36
20	$2,590	$2,454	$136
30	$7,513	$7,126	$387

Expense ratio

0.37%IAT
0.35%KRE, cheaper

KRE0.35%IAT0.37%

0.13%0.60%

Middle half of Banks funds
Median 0.35%

KRE 2nd cheapest of 9 funds

IAT 7th cheapest of 9 funds

IAT vs KRE Dividends

Last 12 months to Nov 3, 2026

Yield (12M): IAT 2.72%, better; KRE 2.21%
Payout (12M): IAT $1.64; KRE $1.61
Last payment: IAT $0.42; KRE $0.41
Ex-dividend: IAT Sep 15, 2026; KRE Sep 21, 2026
Paid on: IAT Sep 18, 2026; KRE Sep 23, 2026
Frequency: IAT Quarterly; KRE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IATQuarterly · 39 paymentsAll IAT payments⁠

KREQuarterly · 39 paymentsAll KRE payments⁠

IAT vs KRE Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IAT 24.0%, betterKRE 24.2%
Return per unit of riskSharpe ratio, 3 years: IAT 0.95, betterKRE 0.87
Worst fallMax drawdown, 5 years: IAT −55.5%KRE −52.7%, better
Market sensitivityBeta, 5 years: IAT 1.23KRE 0.96; Market = 1

IAT and KRE in the news

All news⁠

Deep Dive
Bank earnings week will miss most of what a financials fund owns
Oct 12, 2026KRE
Top Movers
Long Treasuries close at a year low as the 10-year yield hits 5.18%
Sep 24, 2026KRE
Closing Bell
Stocks, Treasurys and gold fall as the 10-year yield climbs to 5.11%
Sep 23, 2026KRE
Closing Bell
Banks fall 2% in the Fed's first hike week as Nasdaq-100 logs a fifth gain
Sep 22, 2026KRE
Deep Dive
Financials drop 2.4% after the Fed's first hike since 2023 and a Bank of America fee warning
Sep 19, 2026KRE
Closing Bell
S&P 500 rises as bonds hit 52-week lows after hot core CPI
Sep 11, 2026KRE

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