SPDR S&P Capital Markets ETF (KCE) Performance
KCE total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.5% since Dec 31, 2025
- 1 year
- +5.1% total return
- 5 years
- +9.9% a year
- 10 years
- +16.8% a year
- Since first price
- +7.4% a year since 2005
KCE trailing returns vs SPY, QQQ, AGG
| Period | KCE total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −2.6% | −2.6% | −1.0% | −5.0% | +0.9% |
| 3 months | −1.3% | −1.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.5% | +1.6% | +7.8% | +8.4% | −1.5% |
| YTD | +3.5% | +2.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +5.1% | +3.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +98.5%+25.7%/yr | +87.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +60.4%+9.9%/yr | +45.3% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +373.4%+16.8%/yr | +281.8% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +652.9%+14.4%/yr | +562.7% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +257.8%+6.6%/yr | +197.8% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionNov 15, 2005 | +347.1%+7.4%/yr | +255.5% | — | — | — |
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: KCE vs SPY
From Nov 15, 2005: KCE grew to $44,712, SPY to $90,507.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
KCE returns by calendar year
15 of 20 full years positive. Best 2013 (+49.9%), worst 2008 (−60.2%). 2026 is year to date.
KCE annual returns table
| Year | KCE | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +3.5% | −17.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +10.8% | −25.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +37.5% | −8.9% | +24.9% | +25.6% | +1.3% |
| 2023 | +32.0% | −17.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −22.1% | −31.5% | −18.2% | −32.6% | −13.0% |
| 2021 | +40.0% | −10.0% | +28.7% | +27.4% | −1.8% |
| 2020 | +30.8% | −40.8% | +18.3% | +48.6% | +7.5% |
| 2019 | +27.1% | −11.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −15.6% | −26.5% | −4.6% | −0.1% | +0.1% |
| 2017 | +32.0% | −6.7% | +21.7% | +32.7% | +3.6% |
| 2016 | +5.6% | −22.3% | +12.0% | +7.1% | +2.4% |
| 2015 | −12.3% | −21.9% | +1.2% | +9.4% | +0.5% |
| 2014 | +3.2% | −12.1% | +13.5% | +19.2% | +6.0% |
| 2013 | +49.9% | −8.5% | +32.3% | +36.6% | −2.0% |
| 2012 | +26.9% | −18.1% | +16.0% | +18.1% | +3.8% |
| 2011 | −25.4% | −40.5% | +1.9% | +3.4% | +7.7% |
| 2010 | +6.2% | −23.4% | +15.1% | +19.9% | +6.4% |
| 2009 | +41.2% | −31.5% | +26.4% | +54.7% | +3.0% |
| 2008 | −60.2% | −71.3% | −36.8% | −41.7% | +7.9% |
| 2007 | +0.6% | −18.6% | +5.1% | +19.0% | +6.6% |
| 2006 | +28.5% | −17.1% | +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.
KCE largest drawdowns
Now 10.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 21, 2007 | −74.0% | Nov 20, 2008 | Jan 4, 2018 | 1.4 years | 10.5 years |
| Feb 20, 2020 | −40.8% | Mar 23, 2020 | Oct 12, 2020 | 32 days | 8 months |
| Nov 3, 2021 | −34.4% | Jun 16, 2022 | Feb 26, 2024 | 7 months | 2.3 years |
| Mar 9, 2018 | −26.5% | Dec 24, 2018 | Dec 17, 2019 | 10 months | 1.8 years |
| Nov 25, 2024 | −26.3% | Apr 8, 2025 | Jul 2, 2025 | 4 months | 7 months |
| Jan 16, 2026 | −17.4% | Mar 27, 2026 | Jul 15, 2026 | 2 months | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
KCE risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2005 |
|---|---|---|---|---|
| Annualized return | +23.4% | +12.3% | +16.8% | +7.4% |
| Volatility (annualized) | 21.6% | 23.8% | 21.8% | 23.0% |
| Sharpe ratio | 0.88 | 0.46 | 0.72 | — |
| Sortino ratio | 1.59 | 0.74 | 1.18 | — |
| Best month | +12.4% | +13.3% | +14.3% | +18.8% |
| Worst month | −9.6% | −13.6% | −17.1% | −22.9% |
| Best 12 months | +65.5% | +65.5% | +90.1% | +90.1% |
| Worst 12 months | +0.1% | −23.7% | −23.7% | −62.6% |
| Positive months | 58% | 50% | 60% | 59% |
| Beta vs S&P 500 | 1.25 | 1.24 | 1.18 | — |
| Correlation with S&P 500 | 0.72 | 0.82 | 0.83 | — |
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.
KCE rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 240 | −62.6% | +9.9% | +90.1% | 66% |
| 3-year (a year) | 216 | −27.4% | +11.1% | +32.6% | 78% |
| 5-year (a year) | 192 | −15.2% | +10.1% | +25.2% | 83% |
| 10-year (a year) | 132 | −3.0% | +9.9% | +18.1% | 83% |
Every holding period starting at a month-end since 2005. Returns for 3 years and longer are annualized.
KCE performance overview
SPDR S&P Capital Markets ETF (KCE) returned +5.1% over the past year and +16.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2005 it has returned +7.4% a year, turning $10,000 into about $44,712. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −74.0%, from Jun 21, 2007 to Nov 20, 2008, and it took 9.1 years to get back to the old high. KCE finished 15 of its 20 full calendar years with a gain; the best year was 2013 (+49.9%) and the worst 2008 (−60.2%). Volatility has been 23.0% a year.
Related: KCE chart, KCE holdings, KCE dividends, KCE valuation. See the KCE overview for the latest quote and fund facts.
KCE performance FAQ
What is the KCE return over the past year?
KCE returned +5.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 3.2%.
What is the average annual return of KCE?
KCE has returned +9.9% a year over 5 years, +16.8% a year over 10 years, +7.4% a year since November 15, 2005 (total return, distributions reinvested).
How much would $10,000 invested in KCE be worth?
$10,000 invested in KCE at its first recorded close on November 15, 2005 would be worth about $44,712 on October 23, 2026 with distributions reinvested.
What was the worst year for KCE?
The worst calendar year was 2008, with a total return of −60.2%. The best was 2013 at +49.9%.
What is the biggest drawdown of KCE?
The largest peak-to-trough decline was −74.0% between June 21, 2007 and November 20, 2008. It recovered to the old high on January 4, 2018, 9.1 years after the bottom.
How volatile is KCE?
Over the past 3 years KCE had an annualized volatility of 21.6% and a Sharpe ratio of 0.88 (excess return over 1–3 month T-bills per unit of risk).