SPDR S&P Insurance ETF (KIE) Valuation
KIE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 12.0 trailing earnings
- Forward P/E
- 10.6 analyst estimates
- Price / sales
- 1.12
- Price / book
- 1.54
- EV / EBITDA
- 13.1
- Earnings yield
- 8.32% inverse of P/E
- Dividend yield
- 1.61% of the holdings
- Return on equity
- 12.8% combined
- Net margin
- 9.3% combined
- Beta
- 0.62 weighted, vs S&P 500
KIE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| KIE | 12.0 | 10.6 | 1.12 | 1.54 | 1.61% | 12.8% | 9.3% | 3.6% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
KIE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 98.4% | 11.9 | 10.4 | 1.14 | 1.52 | 1.64% | 12.8% |
| Healthcare | 1.8% | 24.7 | 588.2 | 0.64 | 4.59 | 0.00% | 18.6% |
KIE earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How KIE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
KIE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| DOO | BRP Inc. | 2.15% | 48.4 | 14.4 | 0.4 | 1.28% | 0.53% |
| MRSH | Marsh & McLennan Companies, Inc. | 2.07% | 22.5 | 15.0 | 3.2 | 2.10% | 1.10% |
| AJG | Arthur J. Gallagher & Co. | 2.06% | 42.3 | 16.3 | 4.3 | 1.10% | 0.59% |
| BRO | Brown & Brown, Inc. | 2.04% | 21.9 | 12.6 | 3.5 | 0.95% | 1.12% |
| WTM | White Mountains Insurance Group, Ltd. | 2.03% | 4.9 | 13.9 | 1.7 | 0.05% | 4.92% |
| SIGI | Selective Insurance Group, Inc. | 2.02% | 10.9 | 9.8 | 1.0 | 1.93% | 2.22% |
| RYAN | Ryan Specialty Holdings, Inc. | 2.01% | 57.4 | 14.6 | 3.3 | 1.28% | 0.42% |
| TRV | The Travelers Companies, Inc. | 2.00% | 10.5 | 10.8 | 1.7 | 1.28% | 2.30% |
| RLI | RLI Corp. | 1.99% | 12.8 | 20.5 | 2.8 | 1.18% | 1.87% |
| PGR | The Progressive Corporation | 1.99% | 11.0 | 12.7 | 1.4 | 0.18% | 2.17% |
| WTW | Willis Towers Watson Public Limited Company | 1.98% | 19.5 | 13.1 | 2.9 | 1.22% | 1.22% |
| THG | The Hanover Insurance Group, Inc. | 1.98% | 11.2 | 11.1 | 1.2 | 1.63% | 2.13% |
| RNR | RenaissanceRe Holdings Ltd. | 1.98% | 6.1 | 8.1 | 1.3 | 0.47% | 3.92% |
| KMPR | Kemper Corporation | 1.96% | — | 8.5 | 0.4 | 4.37% | −6.73% |
| PLMR | Palomar Holdings, Inc. | 1.96% | 18.8 | — | 3.4 | 1.29% | 1.25% |
| RGA | Reinsurance Group of America, Incorporated | 1.96% | 11.7 | 7.7 | 0.7 | 1.47% | 2.00% |
| MKL | Markel Corporation | 1.94% | 10.2 | 15.2 | 1.4 | — | 2.29% |
| EG | Everest Group, Ltd. | 1.94% | 8.2 | 6.2 | 0.9 | 2.06% | 2.83% |
| AIG | American International Group, Inc. | 1.94% | 14.8 | 8.5 | 1.6 | 2.48% | 1.57% |
| CINF | Cincinnati Financial Corporation | 1.93% | 8.1 | 18.5 | 1.9 | 2.20% | 2.86% |
| MET | MetLife, Inc. | 1.92% | 19.3 | 10.5 | 0.8 | 2.35% | 1.19% |
| MCY | Mercury General Corporation | 1.92% | 6.1 | 19.8 | 0.9 | 1.24% | 3.79% |
| AFG | American Financial Group, Inc. | 1.92% | 13.0 | 11.5 | 1.5 | 2.60% | 1.76% |
| SKWD | Skyward Specialty Insurance Group, Inc. | 1.91% | 14.2 | 9.9 | 1.6 | — | 1.62% |
| AFL | Aflac Incorporated | 1.91% | 12.9 | 15.2 | 3.3 | 2.03% | 1.78% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About KIE valuation
Adding up its 54 holdings with company data, KIE trades at 12.0 times trailing earnings and 10.6 times analysts' forward estimates, with a price-to-book ratio of 1.54 and a dividend yield of 1.61%. Its earnings yield of 8.32% is 2.99 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 20.4% of the fund and earn 17.2% of its combined profit. By sector, Healthcare is the most expensive at 24.7 times earnings and Financial Services the cheapest at 11.9. Companies that lost money over the past year are 3.6% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: KIE chart, KIE performance, KIE holdings, KIE dividends.
KIE valuation FAQ
What is the P/E ratio of KIE?
Based on its holdings, KIE has a trailing P/E of 12.0 and a forward P/E of 10.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of KIE?
The trailing earnings yield is 8.32% (1 ÷ P/E) and the forward earnings yield 9.47%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is KIE more expensive than the S&P 500?
KIE trades at 12.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 10.6 and 19.9.
What is the price-to-book ratio of KIE?
The holdings of KIE trade at 1.54 times book value, with a combined return on equity of 12.8%.
Which sector in KIE has the highest P/E?
Healthcare has the highest P/E at 24.7 and Financial Services the lowest at 11.9.