ETF Explainer: KBE

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

Reviewed by: Heather Bell
Edited by: Heather Bell

Each month, we look at an ETF selected by based on its performance and importance to investors. This month, we look at the performance of the $1.8 billion SPDR S&P Bank ETF (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 (*).



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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 is a former managing editor of She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.