Data as of Oct 28, 2026.
FNCL vs KBWB: Differences, Returns & Fees
Over the year to Oct 28, 2026, FNCL returned +7.6% to KBWB's +18.4%; 34% of their weight is in the same names.
askIQ about this page
askIQ about FNCL and KBWB
Net assets: $2.2bn on Sep 30, 2026 for Fidelity MSCI Financials Index ETF, and $6.7bn on Oct 27, 2026 for Invesco KBW Bank ETF.
Pair scorecard
FNCL costs 0.27 points a year less; their one-year returns differ by 10.8 points.
| Measure | FNCL | KBWB |
|---|---|---|
| Return | ||
| Total return, 1 year | +7.6% | +18.4% |
| Drawdown | ||
| Below its high | 4.4%, high on Sep 3, 2026 | 10.1%, high on Aug 14, 2026 |
| Benchmark | ||
| What it tracks | MSCI USA IMI Financials 25/50 Index | KBW Nasdaq Bank Index |
| Cost and size | ||
| Expense ratio | 0.08% | 0.35% |
| Net assets, FNCL as of Sep 30, 2026 and KBWB as of Oct 27, 2026 | $2.2bn | $6.7bn |
| Holdings | ||
| Holdings in common | 34% | |
| Top ten holdings, share of the fund | 48.4% | 59.3% |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method
Risk and return
Nov 1, 2013 to Oct 23, 2026 · 677 weekly returnsEach against its own benchmark: FNCL against VFH, Nov 1, 2013 to Oct 23, 2026; KBWB against VOO, Nov 11, 2011 to Oct 23, 2026.
FNCL returned more: +317.7% to +260.5%. FNCL swung less: 20.8% to 27.2%. FNCL fell less at its worst: −40.6% to −48.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | FNCL | KBWB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +317.7% | +260.5% | FNCL | Price change plus distributions, reinvested. |
| Annualized | +11.6% | +10.4% | FNCL | Total return as a yearly rate. |
| Price return | +219.9% | +164.7% | FNCL | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 20.8% | 27.2% | FNCL | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.4% | 18.9% | FNCL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −40.6% | −48.6% | FNCL | Deepest fall from a high to the low after it. |
| Upside capture | 100.1% | 122.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 100.0% | 115.0% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.00 | 1.25 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 1.00 | 0.55 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.54 | 0.43 | FNCL | Return above Treasury bills per unit of volatility. |
| Sortino | 0.78 | 0.62 | FNCL | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.112 | 0.111 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.29 | 0.21 | FNCL | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | VFH | VOO | The ETF each fund is measured against. | |
| Alpha | 0.0% a year | −2.8% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.08 | −0.61 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.3% to +0.4% | −11.9% to +6.3% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.03 | 0.03 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 0.6% | 18.2% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 677 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FNCL and KBWB hold 34% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.
half
34% in common
Only in one fund ↓
Side by side
FNCL and KBWB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FNCL and KBWB are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FNCL follows MSCI USA IMI Financials 25/50 Index and KBWB follows KBW Nasdaq Bank Index.
- Holdings in common. 34% of the weight is in the same securities (holdings dated Jul 31, 2026 and Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 FNCL returned +7.6% and KBWB +18.4% with distributions reinvested, a gap of 10.8 points.
Data as of Oct 28, 2026.
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
FNCL
FNCL tracks an index. Over the year to Oct 28, 2026 it returned +7.6% with distributions reinvested, against +7.5% for its benchmark, the MSCI USA IMI Financials 25/50 Index. The prospectus expense ratio is 0.08% a year. By its holdings filed for Jul 31, 2026, 86% of the fund by weight is stocks the S&P 500 also holds, across 383 positions, with the top ten at 48.4%. It sat 4.4% below its high of Sep 3, 2026 on Oct 28, 2026.
KBWB
KBWB tracks an index. Over the year to Oct 28, 2026 it returned +18.4% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.35% a year. By its holdings published by its issuer for Oct 27, 2026, 92% of the fund by weight is stocks the S&P 500 also holds, across 28 positions, with the top ten at 59.3%. It sat 10.1% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FNCL or KBWB?
- In the year to Oct 28, 2026, with distributions reinvested, FNCL returned +7.6% and KBWB +18.4%.
- Which is cheaper, FNCL or KBWB?
- FNCL is cheaper, by 0.27 percentage points a year. That is about $27 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, FNCL against KBWB, data as of Oct 28, 2026. https://etfiq.com/compare/any/fncl-vs-kbwb
ETFIQ. (Oct 28, 2026). FNCL against KBWB. Retrieved from https://etfiq.com/compare/any/fncl-vs-kbwb
[FNCL against KBWB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fncl-vs-kbwb)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.