KBE vs QABA: Grades, Fees and Holdings Compared

State Street SPDR S&P Bank ETF

KBEBNYSE Arca

First Trust NASDAQ ABA Community Bank Index Fund

QABADNasdaq

Overlap

33.3%by weight

Expense ratio

KBE −0.25pt a year

KBE0.35%QABA0.60%

Avg volume · 30D

KBE 183.2×the volume

KBE1.6MQABA8.73K

10Y return · a year

KBE +2.1pt

KBE+9.3%QABA+7.2%

KBE vs QABA Performance

Oct 29, 2021 – Oct 30, 2026

+36.2%KBE+29.4%QABA

Expense ratio: KBE 0.35%, better; QABA 0.60%
Fund size: KBE $1.54B; QABA $86M
1Y total return: KBE +18.5%; QABA +27.3%, better
Yield (12M): KBE 2.24%; QABA 2.32%, better
Holdings: KBE 109; QABA 160
Avg volume (30D): KBE 1.6M sh, better; QABA 8.73K sh
NAV per share: KBE $66.47; QABA $66.47
52W range

ETF.net Grade

Pillar letters and Scores for KBE, QABA, with each pillar’s weight
Pillar	KBE	QABA
Cost30% weight	B62Higher	F13
Mission25% weight	Not scored	Not scored
Risk15% weight	C46	B60Higher
Tradability15% weight	B68Higher	D34
Holdings10% weight	A86Higher	A76
Durability5% weight	A76Higher	C51

Rank among Banks funds

How we build Categories ›

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

Banks⁠

Category · 9 funds

See all 9 ›

KBE ranks 2nd and QABA 7th of 9 funds in the Banks Category.

Rank 1BKREState Street SPDR S&P Regional Banking ETFScore 67
Rank 2BKBEState Street SPDR S&P Bank ETFScore 63
Rank 2BKBWBInvesco KBW Bank ETFScore 63
Rank 6CFDIQInvesco Bloomberg Financial Data Providers ETFScore 50
Rank 7DQABAFirst Trust NASDAQ ABA Community Bank Index FundScore 37
Rank 8DFTXOFirst Trust Nasdaq Bank ETFScore 36

Our read on each fund

ETF.net Research

KBEBState Street SPDR S&P Bank ETF

QABADFirst Trust NASDAQ ABA Community Bank Index Fund

In short

KBE One 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.

QABA The bank ETF that starts by deleting the biggest banks. QABA tracks a Nasdaq index of community banks and thrifts that drops the 50 largest by assets, plus credit-card and international specialists. Main Street lenders, not money centers.

Stated mandate

KBE 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.

QABA The Fund seeks to track, before fees and expenses, the price and yield of the Nasdaq OMX® ABA Community BankTM Index.

Why people hold it

KBE 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.

QABA Built as a pure community-bank screen: Nasdaq-listed banks and thrifts, minus the 50 largest by FDIC asset size and any credit-card or international specialists.ftportfolios.com
Trading since 2009 on an index co-developed with the American Bankers Association, rebalanced quarterly and market-cap weighted with issuer caps.ftportfolios.com
Spreads across roughly 160 small lenders, so the portfolio leans on community banking economics rather than one or two regional names.

Worth knowing

KBE 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.

QABA Costs 0.60% net of a waiver through April 30, 2027 (0.63% gross), above the category median and above KRE, KBE and KBWB at 0.35%.
Nasdaq-listed only. Community banks trading on other exchanges fall outside the index by design.ftportfolios.com
Thinner trading than the big regional-bank funds, which can show up as wider bid-ask spreads.

Full KBE profile⁠

Full QABA profile⁠

KBE vs QABA Holdings

How KBE and QABA differ

Overlap by weight

33.3%

Shared holdings make up 57.3% of QABA and 34.2% of KBE.

Level by level

Holdings36 in both33.3%
Asset classEquity100%
Countryby domicile99.7%
Sector2 Sectors99.7%

Sector

Sector weights in KBE and QABA, widest gap first
Sector	More in KBEMore in QABA	KBE	QABA
Financials	KBE +0.3 points	100.0%	99.7%
Industrials	QABA +0.3 points	0.0%	0.3%

Country, concentration and asset class

Country by domicile

Country weights in KBE and QABA, widest gap first
Country	More in KBEMore in QABA	KBE	QABA
United States	KBE +0.3 points	100.0%	99.7%
Canada	QABA +0.3 points	0.0%	0.3%

Concentration

Weight in the 10 largest Holdings

KBE10.2%
QABA26.6%

Securities held

KBE107
QABA158

Asset class

KBE: Equity
QABA: Equity

Holdings

Only in KBE71
In both36
Only in QABA122

Only in KBE

71 securities, 65.7% of KBE by weight

First Citizens Bcshs Class A1.06%
Customers Bancorp Inc1.06%
Glacier Bancorp Inc1.01%
United Community Banks/Ga1.01%
Texas Capital Bancshares Inc1.00%
Equitable Holdings Inc0.99%
Corebridge Financial Inc0.99%
Columbia Banking System Inc0.98%
Valley National Bancorp0.98%
East West Bancorp Inc0.98%
Pinnacle Financial Partners0.97%
Prosperity Bancshares Inc0.96%
Community Financial System I0.96%
Home Bancshares Inc0.96%
Nicolet Bankshares Inc0.96%
Banc of California Inc0.96%
Associated Banc Corp0.96%
Fnb Corp0.95%
Southstate Bank Corp0.95%
Atlantic Union Bankshares Co0.95%
Fifth Third Bancorp0.95%
Provident Financial Services0.95%
First Commonwealth Finl Corp0.95%
Renasant Corp0.94%
Old National Bancorp0.94%
Axos Financial Inc0.94%
Keycorp0.94%
Beacon Financial Corp0.93%
Essent Group Ltd0.93%
Ameris Bancorp0.93%
Jackson Financial Inc A0.93%
Bok Financial Corporation0.93%
Truist Financial Corp0.93%
Fb Financial Corp0.93%
Radian Group Inc0.93%
Western Alliance Bancorp0.93%
Us Bancorp0.92%
Ofg Bancorp0.92%
Cullen/Frost Bankers Inc0.92%
Zions Bancorp Na0.92%
Nmi Holdings Inc0.92%
Park National Corp0.92%
JPMorgan Chase & Co0.92%
Regions Financial Corp0.92%
Umb Financial Corp0.91%
Servisfirst Bancshares Inc0.91%
Voya Financial Inc0.91%
Pnc Financial Services Group0.91%
First Horizon Corp0.91%
Popular Inc0.91%

Only in QABA

122 securities, 42.5% of QABA by weight

TFS Financial Corporation1.94%
Mechanics Bancorp (Class A)1.36%
Merchants Bancorp1.01%
1st Source Corporation0.89%
German American Bancorp, Inc.0.77%
S&T Bancorp, Inc.0.75%
OceanFirst Financial Corp.0.73%
FirstSun Capital Bancorp0.72%
Hope Bancorp, Inc.0.71%
TriCo Bancshares0.71%
QCR Holdings, Inc.0.70%
Bank First Corporation0.69%
ConnectOne Bancorp, Inc.0.68%
Republic Bancorp, Inc.0.66%
Esquire Financial Holdings, Inc.0.64%
Amalgamated Financial Corp.0.63%
Burke & Herbert Financial Services Corp.0.60%
Westamerica Bancorporation0.59%
Peoples Bancorp Inc.0.58%
First Mid-Illinois Bancshares, Inc.0.56%
HBT Financial, Inc.0.56%
Community Trust Bancorp, Inc.0.53%
Preferred Bank0.53%
Old Second Bancorp, Inc.0.52%
Heritage Financial Corporation0.49%
Five Star Bancorp0.46%
Univest Financial Corporation0.46%
Horizon Bancorp, Inc.0.45%
Northeast Bank0.45%
Capitol Federal Financial, Inc.0.45%
CNB Financial Corporation0.44%
Business First Bancshares, Inc.0.44%
Mercantile Bank Corporation0.43%
MetroCity Bankshares, Inc.0.43%
Eagle Bancorp, Inc.0.43%
NB Bancorp, Inc.0.41%
Camden National Corporation0.41%
Hanmi Financial Corporation0.41%
TrustCo Bank Corp NY0.40%
Farmers National Banc Corp.0.39%
First Financial Corporation0.38%
First Community Bancshares, Inc.0.37%
Great Southern Bancorp, Inc.0.37%
Capital City Bank Group, Inc.0.37%
Orrstown Financial Services, Inc.0.36%
Mid Penn Bancorp, Inc.0.36%
South Plains Financial, Inc.0.35%
Independent Bank Corporation0.34%
Peapack-Gladstone Financial Corporation0.34%
Southern Missouri Bancorp, Inc.0.33%

Weight gaps

All 36 Holdings in both funds, largest gap first.

Holding weights in KBE and QABA, widest gap first
Holding	More in KBEMore in QABA	KBE	QABA
Wintrust Financial CorpWTFC	QABA +3.35 points	0.97%	4.32%
Central BancompanyCBC	QABA +2.56 points	1.06%	3.62%
Commerce Bancshares IncCBSH	QABA +2.41 points	0.91%	3.32%
United Bankshares IncUBSI	QABA +1.78 points	0.98%	2.76%
Hancock Whitney CorpHWC	QABA +1.51 points	0.92%	2.43%
Bank OzkOZK	QABA +1.32 points	1.00%	2.32%
Eastern Bankshares IncEBC	QABA +1.16 points	0.99%	2.15%
First Finl Bankshares IncFFIN	QABA +0.95 points	0.89%	1.84%
Fulton Financial CorpFULT	QABA +0.92 points	0.96%	1.88%
Cathay General BancorpCATY	QABA +0.80 points	1.01%	1.81%
Wsfs Financial CorpWSFS	QABA +0.74 points	0.95%	1.69%
Cvb Financial CorpCVBF	QABA +0.69 points	0.98%	1.67%
Independent Bank Corp/MaINDB	QABA +0.69 points	0.96%	1.65%
Wesbanco IncWSBC	QABA +0.63 points	0.92%	1.55%
Bancfirst CorpBANF	QABA +0.61 points	0.95%	1.56%
First Interstate Bancsys AFIBK	QABA +0.53 points	0.98%	1.51%
Towne BankTOWN	QABA +0.47 points	0.94%	1.41%
First Financial BancorpFFBC	QABA +0.47 points	0.96%	1.43%
Simmons First Natl Corp Class ASFNC	QABA +0.44 points	0.97%	1.41%
Seacoast Banking Corp/FlSBCF	QABA +0.41 points	0.93%	1.34%
Columbia Financial IncCLBK	QABA +0.36 points	0.89%	1.25%
First Hawaiian IncFHB	QABA +0.34 points	0.95%	1.29%
Lakeland Financial CorpLKFN	KBE +0.33 points	0.96%	0.63%
Pathward Financial IncCASH	KBE +0.26 points	0.92%	0.66%
N B T Bancorp IncNBTB	QABA +0.16 points	0.98%	1.14%
First Bancorp/NcFBNC	QABA +0.16 points	0.95%	1.11%
Bancorp Inc/TheTBBK	KBE +0.16 points	0.96%	0.80%
Trustmark CorpTRMK	QABA +0.14 points	0.94%	1.08%
First Merchants CorpFRME	QABA +0.11 points	0.96%	1.07%
City Holding CoCHCO	KBE +0.11 points	0.95%	0.84%
Wafd IncWAFD	QABA +0.08 points	0.83%	0.91%
First Busey CorpBUSE	QABA +0.08 points	0.92%	1.00%
Stock Yards Bancorp IncSYBT	QABA +0.06 points	0.96%	1.02%
Banner CorporationBANR	QABA +0.06 points	0.93%	0.99%
Enterprise Financial ServiceEFSC	QABA +0.01 points	0.93%	0.94%
Northwest Bancshares IncNWBI	KBE +0.01 points	0.95%	0.94%

All 107 KBE holdings⁠All 158 QABA 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.

KBE vs QABA Cost

Overpaying QABA vs KBE

$4,691

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

KBE 0.35%
$7,126
QABA 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

KBE 0.35%
QABA 0.60%
Overpaying

Year by year

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

Expense ratio

0.35%KBE, cheaper
0.60%QABA

KBE0.35%QABA0.60%

0.13%0.60%

Middle half of Banks funds
Median 0.35%

KBE 2nd cheapest of 9 funds

QABA 8th cheapest of 9 funds

KBE vs QABA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): KBE 2.24%; QABA 2.32%, better
Payout (12M): KBE $1.47; QABA $1.54
Last payment: KBE $0.38; QABA $0.36
Ex-dividend: KBE Sep 21, 2026; QABA Sep 24, 2026
Paid on: KBE Sep 23, 2026; QABA Sep 30, 2026
Frequency: KBE Quarterly; QABA Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

KBEQuarterly · 39 paymentsAll KBE payments⁠

QABAQuarterly · 39 paymentsAll QABA payments⁠

KBE vs QABA Risk

Fall from peak · 5 years

KBE
QABA

Risk facts

VolatilityStd dev, 3 years: KBE 22.2%, betterQABA 22.9%
Return per unit of riskSharpe ratio, 3 years: KBE 0.96, betterQABA 0.83
Worst fallMax drawdown, 5 years: KBE −45.3%QABA −43.0%, better
Market sensitivityBeta, 5 years: KBE 1.12QABA 0.98; Market = 1

KBE and QABA in the news

All news⁠

New ETFs
iShares' new AI fund holds $220 million, and Walmart is its largest stock
Oct 5, 2026KBE
New ETFs
A new US bank ETF puts 42% in four megabanks and charges 0.14%
Oct 5, 2026KBE
Deep Dive
Financials drop 2.4% after the Fed's first hike since 2023 and a Bank of America fee warning
Sep 19, 2026KBE
News
Better Markets sues the Fed and Bowman to halt the bank-capital rewrite
Sep 10, 2026KBE

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KBE vs QABA

In short

Stated mandate

Why people hold it