KBE vs VOO
State Street SPDR S&P Bank ETF vs Vanguard S&P 500 ETF
Which is better, KBE or VOO?
Each has led over a different period.
VOO has a lower expense ratio. KBE led over 3Y, VOO over 1Y, 5Y and the full window. KBE is less concentrated, with 11.3% of the fund in its ten largest positions against 37.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | KBE | VOO |
|---|---|---|
| Expense Ratio | 0.35% | 0.03%Best |
| AUM | $1.6B | $997.4B |
| Dividend Yield | 2.16% | 1.04% |
| Holdings | 105 | 509 |
| YTD Return | +10.13% | +12.37%Best |
| 1Y Return | +10.06% | +16.61%Best |
| 3Y Return (annualized) | +23.70%Best | +21.37% |
| 5Y Return (annualized) | +9.02% | +13.49%Best |
| Volatility (annualized) | 24.2% | 14.1%Best |
| Max Drawdown | -55.4% | -34.3%Best |
| $10,000 over 5 years | $15,400 | $18,827Best |
| Top 10 Weight | 11.3%Best | 37.6% |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 8, 2005 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 18, 2026 (16 years).
KBE vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16 years both funds cover.
KBE vs VOO Performance
State Street SPDR S&P Bank ETF (KBE) is an ETF from State Street Investment Management and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year KBE returned +10.06% while VOO returned +16.61%. Year to date, KBE is up 10.13% versus a gain of 12.37% for VOO.
Over three years, KBE compounded at +23.70% per year against +21.37% for VOO; over five years the annualized figures are +9.02% and +13.49% respectively. Across the full 16-year window we track, VOO has the edge at +13.39% annualized vs +7.77%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KBE has been the more volatile fund, with annualized monthly volatility of 24.2% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -55.4% for KBE and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
KBE charges 0.35% per year while VOO charges 0.03%. On a $10,000 position that is $35 vs $3 annually, a gap of $32 per year that compounds over a long holding period. On income, KBE currently yields 2.16% against 1.04% for VOO.
Holdings Overlap
15.0% of KBE's money is in holdings VOO also owns. 3.2% of VOO's money is in holdings KBE also owns.
KBE and VOO share little of their money.
15 positions in common, counted across the 103 positions we hold weights for in KBE and 494 in VOO, against full books of 105 and 509.
What only one of them owns
Our book lists 472 positions for VOO that do not appear in our book for KBE (95.9% of the fund), and 85 for KBE that do not appear in VOO (81.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in KBE | Weight in VOO | Difference |
|---|---|---|---|
| JPMJpmorgan Chase | 1.09% | 1.46% | 0.37% |
| WFCWells Fargo & Co. | 1.00% | 0.41% | 0.59% |
| CCitigroup Inc. | 0.94% | 0.34% | 0.60% |
| BKBank Of New York Mellon Corp | 1.10% | 0.17% | 0.93% |
| USBUS Bancorp | 1.03% | 0.15% | 0.88% |
| PNCPnc Financial Services Group Inc. | 0.98% | 0.16% | 0.82% |
| NTRSNorthern Trust Corp. | 1.06% | 0.05% | 1.01% |
| APOAthene (Ath) / Apollo Global Management (Apo) | 0.99% | 0.09% | 0.90% |
| CFGCitizens Financial Group Inc. | 1.01% | 0.05% | 0.96% |
| MTBM&T Bank Corp | 0.99% | 0.06% | 0.93% |
You are not choosing between two funds in isolation.
Whichever of KBE and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, KBE or VOO?
KBE has an expense ratio of 0.35% while VOO charges 0.03%. VOO is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, KBE or VOO?
Over the past year KBE returned +10.06% vs +16.61% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), KBE annualized +7.77% vs +13.39% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KBE or VOO?
KBE has been the more volatile fund at 24.2% annualized versus 14.1% for VOO. Worst drawdown: KBE -55.4% vs VOO -34.3%.
Should I hold both KBE and VOO?
KBE and VOO have a monthly-return correlation of 0.69, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between KBE and VOO?
15.0% of KBE's money is in holdings VOO also owns. 3.2% of VOO's is in holdings KBE also owns. They hold 15 positions in common, counted across the 103 positions we hold weights for in KBE and 494 in VOO.
Which pays a higher dividend, KBE or VOO?
KBE yields 2.16% while VOO yields 1.04%, so KBE currently pays the higher dividend yield.
Is VOO better than KBE?
VOO has a lower expense ratio. KBE led over 3Y, VOO over 1Y, 5Y and the full window. KBE is less concentrated, with 11.3% of the fund in its ten largest positions against 37.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.