SPDR S&P Bank ETF (KBE) Performance
KBE total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +10.4% since Dec 31, 2025
- 1 year
- +18.5% total return
- 5 years
- +5.8% a year
- 10 years
- +9.4% a year
- Since first price
- +3.7% a year since 2005
KBE trailing returns vs SPY, QQQ, AGG
| Period | KBE total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +2.1% | +2.1% | −1.0% | −5.0% | +0.9% |
| 3 months | −3.7% | −4.2% | +3.2% | +1.9% | −0.4% |
| 6 months | +3.5% | +2.4% | +7.8% | +8.4% | −1.5% |
| YTD | +10.4% | +8.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +18.5% | +15.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +104.8%+27.0%/yr | +89.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +32.8%+5.8%/yr | +15.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +145.1%+9.4%/yr | +91.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +376.8%+11.0%/yr | +240.2% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +86.2%+3.2%/yr | +15.7% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionNov 15, 2005 | +112.7%+3.7%/yr | +28.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: KBE vs SPY
From Nov 15, 2005: KBE grew to $21,268, SPY to $90,507.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
KBE returns by calendar year
13 of 20 full years positive. Best 2013 (+41.4%), worst 2008 (−47.3%). 2026 is year to date.
KBE annual returns table
| Year | KBE | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +10.4% | −14.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +12.4% | −22.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +23.8% | −12.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +5.3% | −36.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −14.8% | −28.7% | −18.2% | −32.6% | −13.0% |
| 2021 | +33.5% | −14.5% | +28.7% | +27.4% | −1.8% |
| 2020 | −8.7% | −50.9% | +18.3% | +48.6% | +7.5% |
| 2019 | +29.8% | −13.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −19.6% | −30.9% | −4.6% | −0.1% | +0.1% |
| 2017 | +10.5% | −14.0% | +21.7% | +32.7% | +3.6% |
| 2016 | +30.8% | −19.8% | +12.0% | +7.1% | +2.4% |
| 2015 | +2.5% | −15.0% | +1.2% | +9.4% | +0.5% |
| 2014 | +2.8% | −12.4% | +13.5% | +19.2% | +6.0% |
| 2013 | +41.4% | −7.3% | +32.3% | +36.6% | −2.0% |
| 2012 | +22.7% | −17.1% | +16.0% | +18.1% | +3.8% |
| 2011 | −22.1% | −38.8% | +1.9% | +3.4% | +7.7% |
| 2010 | +23.1% | −25.4% | +15.1% | +19.9% | +6.4% |
| 2009 | −1.8% | −58.3% | +26.4% | +54.7% | +3.0% |
| 2008 | −47.3% | −60.0% | −36.8% | −41.7% | +7.9% |
| 2007 | −21.7% | −25.4% | +5.1% | +19.0% | +6.6% |
| 2006 | +16.1% | −6.8% | +15.8% | +7.1% | +3.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
KBE largest drawdowns
Now 7.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 20, 2007 | −83.2% | Mar 6, 2009 | Dec 4, 2017 | 2.0 years | 10.8 years |
| Mar 9, 2018 | −53.1% | Mar 23, 2020 | Feb 16, 2021 | 2.0 years | 2.9 years |
| Jan 14, 2022 | −45.3% | May 4, 2023 | Oct 16, 2024 | 1.3 years | 2.8 years |
| Nov 25, 2024 | −26.0% | Apr 8, 2025 | Sep 4, 2025 | 4 months | 9 months |
| Feb 6, 2026 | −14.6% | Mar 18, 2026 | Jun 23, 2026 | 40 days | 5 months |
| Jun 1, 2021 | −14.5% | Jul 19, 2021 | Oct 8, 2021 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
KBE risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2005 |
|---|---|---|---|---|
| Annualized return | +22.8% | +6.5% | +9.3% | +3.4% |
| Volatility (annualized) | 22.5% | 25.6% | 26.8% | 26.6% |
| Sharpe ratio | 0.83 | 0.23 | 0.38 | — |
| Sortino ratio | 1.69 | 0.36 | 0.57 | — |
| Best month | +16.3% | +16.6% | +18.7% | +18.7% |
| Worst month | −9.8% | −22.6% | −30.0% | −35.1% |
| Best 12 months | +59.1% | +59.1% | +98.5% | +98.5% |
| Worst 12 months | −2.1% | −28.7% | −33.7% | −68.9% |
| Positive months | 53% | 50% | 57% | 56% |
| Beta vs S&P 500 | 1.04 | 0.92 | 1.15 | — |
| Correlation with S&P 500 | 0.58 | 0.56 | 0.66 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
KBE rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 240 | −68.9% | +5.8% | +98.5% | 58% |
| 3-year (a year) | 216 | −36.3% | +6.8% | +27.1% | 74% |
| 5-year (a year) | 192 | −18.7% | +7.2% | +24.1% | 77% |
| 10-year (a year) | 132 | −3.9% | +7.0% | +15.9% | 84% |
Every holding period starting at a month-end since 2005. Returns for 3 years and longer are annualized.
KBE performance overview
SPDR S&P Bank ETF (KBE) returned +18.5% over the past year and +9.4% a year over ten years, with distributions reinvested. Since its first recorded price in 2005 it has returned +3.7% a year, turning $10,000 into about $21,268. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −83.2%, from Feb 20, 2007 to Mar 6, 2009, and it took 8.7 years to get back to the old high. KBE finished 13 of its 20 full calendar years with a gain; the best year was 2013 (+41.4%) and the worst 2008 (−47.3%). Volatility has been 26.6% a year.
Related: KBE chart, KBE holdings, KBE dividends, KBE valuation. See the KBE overview for the latest quote and fund facts.
KBE performance FAQ
What is the KBE return over the past year?
KBE returned +18.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 15.7%.
What is the average annual return of KBE?
KBE has returned +5.8% a year over 5 years, +9.4% a year over 10 years, +3.7% a year since November 15, 2005 (total return, distributions reinvested).
How much would $10,000 invested in KBE be worth?
$10,000 invested in KBE at its first recorded close on November 15, 2005 would be worth about $21,268 on October 23, 2026 with distributions reinvested.
What was the worst year for KBE?
The worst calendar year was 2008, with a total return of −47.3%. The best was 2013 at +41.4%.
What is the biggest drawdown of KBE?
The largest peak-to-trough decline was −83.2% between February 20, 2007 and March 6, 2009. It recovered to the old high on December 4, 2017, 8.7 years after the bottom.
How volatile is KBE?
Over the past 3 years KBE had an annualized volatility of 22.5% and a Sharpe ratio of 0.83 (excess return over 1–3 month T-bills per unit of risk).