KRE vs SPY
State Street SPDR S&P Regional Banking ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, KRE or SPY?
Small Cap Value against Large Cap Blend.
SPY has a lower expense ratio. KRE led over 3Y, SPY over 1Y, 5Y and the full window. KRE is less concentrated, with 13.9% of the fund in its ten largest positions against 38.0%.
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 | KRE | SPY |
|---|---|---|
| Expense Ratio | 0.35% | 0.09%Best |
| AUM | $4.1B | $804.7B |
| Dividend Yield | 2.17% | 0.98% |
| Holdings | 161 | 505 |
| YTD Return | +14.46%Best | +11.52% |
| 1Y Return | +16.46% | +17.48%Best |
| 3Y Return (annualized) | +22.61%Best | +20.62% |
| 5Y Return (annualized) | +5.74% | +12.73%Best |
| Volatility (annualized) | 26.4% | 15.3%Best |
| Max Drawdown | -71.2% | -56.5%Best |
| $10,000 over 5 years | $13,219 | $18,205Best |
| Top 10 Weight | 13.9%Best | 38.0% |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Value | Large Cap Blend |
| Inception | Jun 19, 2006 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jun 22, 2006 to Sep 10, 2026 (20.2 years).
KRE vs SPY 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 20.2 years both funds cover.
KRE vs SPY Performance
State Street SPDR S&P Regional Banking ETF (KRE) is an ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year KRE returned +16.46% while SPY returned +17.48%. Year to date, KRE is up 14.46% versus a gain of 11.52% for SPY.
Over three years, KRE compounded at +22.61% per year against +20.62% for SPY; over five years the annualized figures are +5.74% and +12.73% respectively. Across the full 20-year window we track, SPY has the edge at +9.75% annualized vs +2.88%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KRE has been the more volatile fund, with annualized monthly volatility of 26.4% 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 -71.2% for KRE and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.62. They move together some of the time, and apart the rest.
Fees and Cost Over Time
KRE 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, KRE currently yields 2.17% against 0.98% for SPY.
Holdings Overlap
6.7% of KRE's money is in holdings SPY also owns. 0.3% of SPY's money is in holdings KRE also owns.
KRE and SPY share little of their money.
5 positions in common, counted across the 160 positions we hold weights for in KRE and 504 in SPY, against full books of 161 and 505.
What only one of them owns
Our book lists 489 positions for SPY that do not appear in our book for KRE (99.2% of the fund), and 152 for KRE that do not appear in SPY (91.2%).
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.
You are not choosing between two funds in isolation.
Whichever of KRE and SPY 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, KRE or SPY?
KRE has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, KRE or SPY?
Over the past year KRE returned +16.46% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), KRE annualized +2.88% vs +9.75% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KRE or SPY?
KRE has been the more volatile fund at 26.4% annualized versus 15.3% for SPY. Worst drawdown: KRE -71.2% vs SPY -56.5%.
Should I hold both KRE and SPY?
KRE and SPY have a monthly-return correlation of 0.62, 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 KRE and SPY?
6.7% of KRE's money is in holdings SPY also owns. 0.3% of SPY's is in holdings KRE also owns. They hold 5 positions in common, counted across the 160 positions we hold weights for in KRE and 504 in SPY.
Which pays a higher dividend, KRE or SPY?
KRE yields 2.17% while SPY yields 0.98%, so KRE currently pays the higher dividend yield.
Is SPY better than KRE?
SPY has a lower expense ratio. KRE led over 3Y, SPY over 1Y, 5Y and the full window. KRE is less concentrated, with 13.9% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.