##  [# ETF Explainer: KBE](/sections/etf-report-departments/etf-explainer-kbe) 

 

# ETF Explainer: KBE

 

 

U.S. banks have had a rough year relative to the broad market.



 

 

 

 

 [![HeatherBell_green_bg](/sites/default/files/styles/author_image_icon/public/2023-03/heather2.png?itok=5J9vBlda)](/contributors/heather-bell) 

[By Heather Bell](/contributors/heather-bell)

 Aug 01, 2019

 Edited by: Heather Bell

 

 

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**SPDR S&amp;P Bank ETF**Each month, we look at an ETF selected by ETF.com based on its performance and importance to investors. This month, we look at the performance of the $1.8 billion [SPDR S&amp;P Bank ETF (KBE)](/KBE), which tracks the U.S. banking industry via an equal-weighted index. All the companies mentioned below are holdings in KBE, unless otherwise noted (\*).

[![ETFExplainerARKW](/sites/default/files/images/Magazines/ETF%20Report/2019/08/ETFExplainerKBE_fig1.jpg)](/sites/default/files/images/Magazines/ETF%20Report/2019/08/ETFExplainerKBE_fig1b.jpg)

*For a larger view, please click on the image above.*



**JUL 13** The flattening curve hurts smaller lenders like Sterling Bancorp that don’t have diversified operations in areas such as trading desks or money management that would mitigate the effects.

**AUG 13** Citigroup stock declines after an $8.6 million fine from the Federal Reserve, concerns about unrest in Turkey and changes in Citigroup’s executive lineup.

**SEP 19** J.P. Morgan’s board of directors announces a 43% increase in its quarterly dividend as the yield curve steepens, and the stock’s share price rises.

**OCT 24** Bank stocks see a five-day decline due to a correction spurred partly by GDP growth concerns and uncertainty around geopolitics and trade.

**JAN 15** LendingTree completes the acquisition of Value Holding,\* parent company of personal finance website ValuePenguin, for $105 million.

**APR 26** MGIC Investment Corp. hits a 52-week high after a series of positive quarterly earnings surprises, including for the first quarter of 2019.

*Source: Bloomberg. Data for 06/30/2018 to 06/30/2019.*





 

 

 [ Heather Bell ](/contributors/heather-bell) 

 

 

  Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a…   [View Bio](/contributors/heather-bell)

 



 

 


 Related Topics  [Bank](http://www.etf.com/topics/bank) 

 [Banks](http://www.etf.com/topics/banks) 

 [Equal-Weighted](http://www.etf.com/topics/equal-weighted) 

 [Equity](http://www.etf.com/topics/equity) 

 [Financials](http://www.etf.com/topics/financials)