Data as of Oct 28, 2026.
KBWB vs XLF: Differences, Returns & Fees
Over the year to Oct 28, 2026, KBWB returned +18.4% to XLF's +7.6%; 34% of their weight is in the same names.
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Net assets on Oct 27, 2026: $6.7bn for Invesco KBW Bank ETF and $51.6bn for State Street Financial Select Sector SPDR ETF.
Pair scorecard
XLF costs 0.27 points a year less; their one-year returns differ by 10.8 points; XLF is 7.7 times larger.
| Measure | KBWB | XLF |
|---|---|---|
| Return | ||
| Total return, 1 year | +18.4% | +7.6% |
| Drawdown | ||
| Below its high | 10.1%, high on Aug 14, 2026 | 3.8%, high on Sep 3, 2026 |
| Benchmark | ||
| What it tracks | KBW Nasdaq Bank Index | Financial Select Sector Index |
| Cost and size | ||
| Expense ratio | 0.35% | 0.08% |
| Net assets, as of Oct 27, 2026 | $6.7bn | $51.6bn |
| Holdings | ||
| Holdings in common | 34% | |
| Top ten holdings, share of the fund | 59.3% | 57.4% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Nov 11, 2011 to Oct 23, 2026 · 780 weekly returnsXLF returned more: +585.3% to +505.7%. XLF swung less: 20.3% to 26.5%. XLF fell less at its worst: −39.3% to −48.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | KBWB | XLF | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +505.7% | +585.3% | XLF | Price change plus distributions, reinvested. |
| Annualized | +12.8% | +13.7% | XLF (slight) | Total return as a yearly rate. |
| Price return | +328.4% | +322.4% | Tie | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 26.5% | 20.3% | XLF | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 18.1% | 13.8% | XLF | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −48.6% | −39.3% | XLF | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.52 | 0.65 | XLF | Return above Treasury bills per unit of volatility. |
| Sortino | 0.76 | 0.95 | XLF | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.26 | 0.35 | XLF | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 780 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, KBWB and XLF hold 34% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
34% in common
Only in one fund ↓
Side by side
KBWB and XLF on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
KBWB and XLF are built for the same job. How do they differ in cost, holdings and results?
- What each follows. KBWB follows KBW Nasdaq Bank Index and XLF follows Financial Select Sector Index.
- Holdings in common. 34% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 KBWB returned +18.4% and XLF +7.6% with distributions reinvested, a gap of 10.8 points.
Data as of Oct 28, 2026.
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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.
XLF
XLF tracks an index of Financials. Over the year to Oct 28, 2026 it returned +7.6% with distributions reinvested. The prospectus expense ratio is 0.08% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 77 positions, with the top ten at 57.4%. It sat 3.8% below its high of Sep 3, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, KBWB or XLF?
- In the year to Oct 28, 2026, with distributions reinvested, KBWB returned +18.4% and XLF +7.6%.
- Which is cheaper, KBWB or XLF?
- XLF 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.
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ETFIQ, KBWB against XLF, data as of Oct 28, 2026. https://etfiq.com/compare/any/kbwb-vs-xlf
ETFIQ. (Oct 28, 2026). KBWB against XLF. Retrieved from https://etfiq.com/compare/any/kbwb-vs-xlf
[KBWB against XLF (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/kbwb-vs-xlf)
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