KIE(KIE)
AI Look-Through Summary
AI GeneratedThe portfolio's sector allocation is heavily skewed towards Financial Services, accounting for approximately half of its holdings. This concentration in financials suggests that the fund may be positioned to benefit from trends within this sector, although it also increases sensitivity to sector-specific risks.
Notable single-stock exposures include BWIN and LMND, which collectively account for around 4.6% of the portfolio's assets. The weighted P/E ratio of 11.4x indicates a valuation posture that is roughly in line with the broader market, while the weighted P/B ratio of 2.15x suggests a relatively modest premium to book value. Overall, this fund appears to be positioned for growth within the financial services sector, but its performance may be influenced by the trajectory of specific stocks and sector trends.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-07-06 10:01:33.543858+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 45/100The thematic alignment between the KIE ETF's implied investment theme and its actual composition is notably weak, as the portfolio lacks any identifiable focus on a specific industry vertical or innovation sector. The top holdings list includes several financial services entities alongside numerous companies with unavailable data classifications, creating a fragmented picture that fails to coalesce around a singular narrative. Furthermore, the prevalence of large-cap names within the top positions suggests an over-reliance on established market leaders rather than targeted exposure to smaller thematic players, which often dilutes the distinctiveness expected from a specialized fund and may indicate broad-market stabilization tactics instead of pure theme adherence.
Sector coherence is heavily skewed toward Financial Services at 49%, driven by 27 individual holdings in that category alone. This overwhelming concentration creates a significant divergence from the diversified exposure typically associated with thematic strategies, raising questions about whether the fund offers genuine differentiation from standard financial or broad market indices. With nearly half of the portfolio anchored to one sector and a top-10 concentration remaining relatively low at 20.5%, the structure appears more characteristic of a generalist equity vehicle than a focused thematic play. Consequently, investors seeking exposure to a specific innovation or industry trend may find their capital effectively allocated toward traditional financial institutions rather than the intended niche market.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-04-29 23:48:59.814429+00
🏢 Sector Analysis
AI GeneratedThe fund exhibits a pronounced sector tilt toward Financial Services, which accounts for nearly half of the total portfolio weight. This heavy allocation suggests an investment thesis centered on exposure to banking and insurance subsectors rather than a broad diversification across all economic drivers. The concentration within this single industry is further amplified by the fact that twenty-seven distinct holdings reside in this category alone, indicating a deliberate strategy to capture specific financial sector dynamics while foregoing significant weightings in technology, healthcare, or consumer discretionary areas typically found in diversified equity portfolios.
Top-10 holding concentration stands at 21.5%, which reflects a moderate level of name risk relative to funds with lower concentration metrics but remains substantial enough to influence overall portfolio volatility if individual financial stocks underperform. The presence of multiple top holdings such as MET and CNO, both classified within Financial Services, reinforces the sector-specific nature of the strategy rather than representing a balanced approach across industries. While the inclusion of non-financial entities like OSCR and SIGI in the top five list adds nominal diversity to the immediate holding list, their relatively small weights do not materially offset the overwhelming dominance of the financial services theme established by the aggregate allocation data.
This structural composition implies that the fund's performance will be highly correlated with macroeconomic factors influencing credit spreads, interest rates, and regulatory environments specific to the banking and insurance industries. Consequently, investors seeking exposure solely to these sectors may find this vehicle aligned with their objectives, whereas those prioritizing sector-neutral beta or defense against financial-specific downturns might observe higher idiosyncratic risk due to the lack of balancing weights in other economic pillars. The data presents a clear picture of a specialized instrument designed for targeted industry participation rather than broad market replication.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-23 09:48:53.426398+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share KIE's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of KIE's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| VFHVFH | $13B | — | 53 | 99.9% |
| SPTMSPTM | $12B | — | 47 | 85.7% |
| ONEOONEO | $25M | — | 40 | 72.6% |
| ONEVONEV | $522M | — | 31 | 56.0% |
| VYMVanguard High Dividend Yield Index Fund ETF Shares | $90B | — | 30 | 55.8% |
100% of KIE's portfolio by weight is also held by VFH, which commands 32× more assets under management. When VFH receives inflows, it mechanically buys these shared stocks — dragging KIE's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofKIE's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 94% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside KIE collectively pay out 19% of their Free Cash Flow to maintain the current yield. This leaves a substantial cash buffer, making dividend cuts unlikely even in a downturn. Based on 50% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryKIE is up 13.1% over the last 12 months. The underlying weighted earnings growth of its constituents is +33.1%. Despite earnings growth, valuations have contracted by 20.0% — the market is paying less per dollar of earnings than a year ago.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 96% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of KIE's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of KIE's analyzed weight, 14% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 86% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 82% of fund weight with available data. Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
KIE has a Passive Crowding Score of 27/100. On average, 8.0% of the market capitalization of KIE's underlying holdings is structurally locked in passive ETF vehicles. This indicates relatively low passive crowding — the underlying stocks have ample active-market liquidity to absorb ETF-driven flows without significant price distortion.
Passive $ = Σ(ETF AUM × holding weight) across all 3 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | BWIN | BALDWIN INSURANCE GROUP INC/ Financial Services | 2.35% | — | — |
| 2 | LMND | LEMONADE INC | 2.17% | — | — |
| 3 | PLMR | PALOMAR HOLDINGS INC | 2.12% | 16.6x | 6/9 |
| 4 | SKWD | SKYWARD SPECIALTY INSURANCE | 2.12% | 10.5x | 5/9 |
| 5 | KMPR | KEMPER CORP | 2.03% | 13.1x | 5/9 |
| 6 | RYAN | RYAN SPECIALTY HOLDINGS INC | 2.02% | 75.8x | — |
| 7 | AJG | ARTHUR J GALLAGHER + CO Financial Services | 1.99% | 41.1x | 6/9 |
| 8 | BRO | BROWN + BROWN INC Financial Services | 1.94% | 22.3x | 4/9 |
| 9 | AXS | AXIS CAPITAL HOLDINGS LTD Financial Services | 1.94% | 8.1x | 4/9 |
| 10 | PGR | PROGRESSIVE CORP Financial Services | 1.94% | 11.6x | 5/9 |
| 11 | RGA | REINSURANCE GROUP OF AMERICA | 1.94% | 11.4x | 6/9 |
| 12 | OSCR | OSCAR HEALTH INC CLASS A | 1.93% | — | — |
| 13 | RLI | RLI CORP | 1.92% | 13.1x | 4/9 |
| 14 | ACGL | ARCH CAPITAL GROUP LTD Financial Services | 1.92% | 7.9x | 5/9 |
| 15 | ALL | ALLSTATE CORP Financial Services | 1.92% | 5.4x | 4/9 |
Historical Holdings Snapshots
Browse how KIE’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-07-13
15 holdings · 30.2% tracked weight2026-07-12
15 holdings · 30.2% tracked weight2026-07-11
15 holdings · 30.2% tracked weight2026-07-10
15 holdings · 30.4% tracked weight2026-07-09
15 holdings · 30.6% tracked weight2026-07-08
15 holdings · 30.5% tracked weightSource: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
What Drove KIE Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedThe current trading price of $57.61 for KIE establishes a specific market context, though the provided data lacks the necessary moving average levels to determine precise trend positioning relative to short or long-term averages. Without knowing whether this price sits above or below key exponential or simple moving averages, it is impossible to definitively characterize the prevailing directional bias as bullish or bearish based solely on these figures. The absence of historical average data prevents a clear assessment of momentum strength derived from mean reversion principles or trend-following indicators that rely on such comparisons. Regarding short-term momentum, the Relative Strength Index (RSI) is not included in the available dataset, leaving an incomplete picture of immediate buying or selling pressure. Typically, RSI values above 70 might suggest overbought conditions while readings below 30 could indicate oversold states, but without this metric or a defined price trajectory against moving averages, any conclusion regarding imminent trend reversals remains speculative. The technical snapshot currently offers only the absolute share value of $57.61, which serves as an anchor point for further analysis once additional indicator data becomes available to evaluate the interplay between price action and statistical trends.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How KIE’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-07-13.
SecuritiesDB is for informational purposes only. Not investment advice.