KIE vs SPY
State Street SPDR S&P Insurance ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | KIE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.09% | |
| AUM | $710M | $821.1B | |
| Dividend Yield | 1.52% | 1.01% | |
| Holdings | 55 | 505 | |
| YTD Return | +7.51% | +12.68% | |
| 1Y Return | +9.43% | +21.82% | |
| 3Y Return (annualized) | +16.94% | +21.98% | |
| 5Y Return (annualized) | +11.75% | +12.89% | |
| Volatility (annualized) | 21.0% | 15.3% | |
| Max Drawdown | -76.2% | -56.5% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 8, 2005 | Jan 22, 1993 |
KIE vs SPY Performance
State Street SPDR S&P Insurance ETF (KIE) is a ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year KIE returned +9.43% while SPY returned +21.82%. Year to date, KIE is up 7.51% versus a gain of 12.68% for SPY.
Over three years, KIE compounded at +16.94% per year against +21.98% for SPY; over five years the annualized figures are +11.75% and +12.89% respectively. Across the full 21-year window we track, SPY has the edge at +8.81% annualized vs +6.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KIE has been the more volatile fund, with annualized monthly volatility of 21.0% compared with 15.3% for SPY. 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 -76.2% for KIE and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
KIE charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, KIE currently yields 1.52% against 1.01% for SPY.
Holdings Overlap
KIE and SPY share 23 holdings out of 535 unique holdings combined, representing a 1.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, KIE or SPY?
KIE has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, KIE or SPY?
Over the past year KIE returned +9.43% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (21 years), KIE annualized +6.81% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, KIE or SPY?
KIE has been the more volatile fund at 21.0% annualized versus 15.3% for SPY. Worst drawdown: KIE -76.2% vs SPY -56.5%.
Should I hold both KIE and SPY?
KIE and SPY have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between KIE and SPY?
KIE and SPY share 23 common holdings with a 1.6% weight overlap. Combined, they hold 535 unique securities.
Which pays a higher dividend, KIE or SPY?
KIE yields 1.52% while SPY yields 1.01%, so KIE currently pays the higher dividend yield.
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