KRE(KRE)
AI Look-Through Summary
AI GeneratedThe portfolio's sector allocation is heavily skewed towards Financial Services, which accounts for approximately 40% of its weight. This concentration in financials is notable, particularly given the relatively high weighting within the sector. The remaining 59.9% is allocated to "Other" sectors, but this category does not provide further detail on specific industries.
The top holdings are all regional banks, each representing about 1.4% of the portfolio's weight. This suggests a relatively diversified exposure among smaller-cap financial institutions. Compared to the broader market, KRE has a higher concentration in Financial Services, which could be beneficial during economic downturns but may pose risks if the sector underperforms. A favorable macro environment for this portfolio would likely involve a stable or improving banking sector, while an unfavorable scenario might arise from rising interest rates or increased regulatory scrutiny.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-07-14 09:17:26.72508+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 95/100The investment theme implied by the ticker KRE is regional banking, and this alignment appears highly consistent with the provided data. The top holdings list consists almost entirely of banks operating primarily within specific geographic regions rather than large national or global institutions. While several entries in the top ten are marked as N/A regarding their primary sector classification, these entities correspond to known regional financial institutions when cross-referenced with standard market classifications, reinforcing the thematic focus without introducing unrelated industries like technology or consumer staples that would dilute purity. The concentration of assets within this specific subset of banks suggests a deliberate strategy to capture exposure to smaller community and state-chartered depository institutions rather than diversified mega-cap names often found in broader financial indices.
Sector coherence is strongly supported by the breakdown showing Financial Services as the dominant category, accounting for over forty percent of the portfolio across nearly fifty holdings. This heavy weighting ensures that the fund's performance remains tightly coupled with the cyclical nature and specific risks associated with regional lending rather than spreading exposure into unrelated sectors such as healthcare or energy. The relatively low top-ten concentration of fifteen point seven percent indicates a broad diversification within the theme itself, reducing the impact of any single institution while maintaining strict adherence to the regional banking definition. Consequently, the fund demonstrates clear differentiation from a broad market index by excluding non-financial entities and avoiding large-cap financial giants that typically dominate general sector benchmarks, resulting in a portfolio structure that strictly mirrors its stated investment objective.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-24 09:35:50.759898+00
🏢 Sector Analysis
AI GeneratedThe KRE ETF exhibits a dominant exposure to the Financial Services sector, which accounts for approximately 40.8% of its portfolio across forty-nine holdings. This heavy weighting suggests an investment thesis centered on capturing returns within regional banking and financial institutions rather than diversifying broadly across technology or consumer discretionary sectors. Such a concentrated approach implies that the fund's performance will be highly correlated with macroeconomic factors influencing credit spreads, interest rate sensitivity, and regulatory environments specific to the banking industry, potentially amplifying volatility relative to more balanced market-cap weighted indices.
Concentration risk is further highlighted by the top-10 holdings representing 15.6% of total assets, a figure that indicates moderate dispersion within the sector but still leaves significant influence in the hands of major regional players like EWBC and BPOP. The uniform weightings among the top five positions suggest an attempt to mitigate single-stock idiosyncratic risk while maintaining exposure to a specific subset of the financial landscape where these institutions operate. This structure reveals a factor tilt toward value characteristics often associated with established, dividend-paying banks that may be less sensitive to rapid valuation compression seen in growth-oriented equities during tightening monetary cycles.
Ultimately, the allocation profile underscores a specialized mandate targeting the resilience and cyclical upside potential of regional finance rather than broad market beta. Investors examining this vehicle should recognize that gains or losses will likely mirror movements within the financial services sub-sector more closely than those of diversified portfolios. The absence of significant holdings in other industries means that defensive sectors may provide insufficient hedging during periods where banking stocks underperform, making the fund's behavior distinctively tied to the health and sentiment surrounding regional lenders.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-22 09:47:29.698848+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share KRE's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of KRE's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| VFHVFH | $13B | — | 151 | 97.8% |
| KBEKBE | $1B | — | 81 | 81.0% |
| SPTMSPTM | $12B | — | 90 | 80.5% |
| VYMVanguard High Dividend Yield Index Fund ETF Shares | $90B | — | 52 | 59.9% |
| VBRVBR | $62B | — | 48 | 56.3% |
98% of KRE's portfolio by weight is also held by VFH, which commands 4× more assets under management. When VFH receives inflows, it mechanically buys these shared stocks — dragging KRE's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofKRE'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 74% 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 KRE collectively pay out 40% 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 62% 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
ProprietaryKRE is up 23.4% over the last 12 months. The underlying weighted earnings growth of its constituents is +27.7%. Despite earnings growth, valuations have contracted by 4.3% — 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 98% of fund weight with earnings 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.
KRE has a Passive Crowding Score of 26/100. On average, 7.7% of the market capitalization of KRE'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 31 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 | CFG | CITIZENS FINANCIAL GROUP Financial Services | 1.40% | 16.2x | 6/9 |
| 2 | GBCI | GLACIER BANCORP INC | 1.39% | 25.0x | 6/9 |
| 3 | MTB | M + T BANK CORP Financial Services | 1.39% | 13.4x | 7/9 |
| 4 | RF | REGIONS FINANCIAL CORP Financial Services | 1.38% | 13.5x | 7/9 |
| 5 | CFR | CULLEN/FROST BANKERS INC Financial Services | 1.38% | 15.9x | 6/9 |
| 6 | UMBF | UMB FINANCIAL CORP | 1.37% | 13.0x | 6/9 |
| 7 | ONB | OLD NATIONAL BANCORP | 1.37% | 14.1x | 3/9 |
| 8 | HWC | HANCOCK WHITNEY CORP | 1.36% | 16.3x | 7/9 |
| 9 | ZION | ZIONS BANCORP NA Financial Services | 1.36% | 11.4x | 6/9 |
| 10 | BPOP | POPULAR INC Financial Services | 1.36% | 12.9x | 6/9 |
| 11 | HOMB | HOME BANCSHARES INC | 1.36% | 11.0x | 6/9 |
| 12 | FIBK | FIRST INTERSTATE BANCSYS A | 1.36% | 13.1x | 6/9 |
| 13 | ASB | ASSOCIATED BANC CORP Financial Services | 1.36% | 11.0x | 7/9 |
| 14 | PNFP | PINNACLE FINANCIAL PARTNERS Financial Services | 1.35% | 14.4x | 5/9 |
| 15 | FULT | FULTON FINANCIAL CORP | 1.35% | 12.0x | 5/9 |
Historical Holdings Snapshots
Browse how KRE’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-07-19
15 holdings · 20.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | CFG | 1.40% | 962,680 | — |
| 2 | GBCI | 1.39% | 1,305,711 | — |
| 3 | MTB | 1.39% | 279,286 | — |
| 4 | RF | 1.38% | 2,187,880 | — |
| 5 | CFR | 1.38% | 432,762 | — |
| 6 | UMBF | 1.37% | 473,829 | — |
| 7 | ONB | 1.37% | 2,566,018 | — |
| 8 | HWC | 1.36% | 882,627 | — |
| 9 | ZION | 1.36% | 950,064 | — |
| 10 | BPOP | 1.36% | 400,486 | — |
| 11 | HOMB | 1.36% | 2,264,930 | — |
| 12 | FIBK | 1.36% | 1,726,440 | — |
| 13 | ASB | 1.36% | 2,184,951 | — |
| 14 | PNFP | 1.35% | 671,606 | — |
| 15 | FULT | 1.35% | 2,752,274 | — |
2026-07-18
15 holdings · 20.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | CFG | 1.40% | 962,680 | — |
| 2 | GBCI | 1.39% | 1,305,711 | — |
| 3 | MTB | 1.39% | 279,286 | — |
| 4 | RF | 1.38% | 2,187,880 | — |
| 5 | CFR | 1.38% | 432,762 | — |
| 6 | UMBF | 1.37% | 473,829 | — |
| 7 | ONB | 1.37% | 2,566,018 | — |
| 8 | HWC | 1.36% | 882,627 | — |
| 9 | ZION | 1.36% | 950,064 | — |
| 10 | BPOP | 1.36% | 400,486 | — |
| 11 | HOMB | 1.36% | 2,264,930 | — |
| 12 | FIBK | 1.36% | 1,726,440 | — |
| 13 | ASB | 1.36% | 2,184,951 | — |
| 14 | PNFP | 1.35% | 671,606 | — |
| 15 | FULT | 1.35% | 2,752,274 | — |
2026-07-17
15 holdings · 20.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | MTB | 1.39% | 272,470 | — |
| 2 | RF | 1.38% | 2,134,600 | — |
| 3 | UMBF | 1.38% | 462,277 | — |
| 4 | GBCI | 1.38% | 1,273,903 | — |
| 5 | CFR | 1.38% | 422,234 | — |
| 6 | BPOP | 1.37% | 390,726 | — |
| 7 | CFG | 1.37% | 939,224 | — |
| 8 | HWC | 1.37% | 861,123 | — |
| 9 | ZION | 1.36% | 926,928 | — |
| 10 | FIBK | 1.36% | 1,684,392 | — |
| 11 | AUB | 1.36% | 1,559,579 | — |
| 12 | ONB | 1.36% | 2,503,522 | — |
| 13 | ASB | 1.36% | 2,131,735 | — |
| 14 | HBAN | 1.35% | 3,622,872 | — |
| 15 | FULT | 1.35% | 2,685,266 | — |
2026-07-16
15 holdings · 20.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | CFR | 1.38% | 415,654 | — |
| 2 | CFG | 1.37% | 924,564 | — |
| 3 | BPOP | 1.37% | 384,626 | — |
| 4 | RF | 1.37% | 2,101,300 | — |
| 5 | GBCI | 1.37% | 1,254,023 | — |
| 6 | PNFP | 1.37% | 645,034 | — |
| 7 | UMBF | 1.37% | 455,057 | — |
| 8 | MTB | 1.37% | 268,230 | — |
| 9 | ONB | 1.37% | 2,464,462 | — |
| 10 | FIBK | 1.36% | 1,658,112 | — |
| 11 | ASB | 1.36% | 2,098,475 | — |
| 12 | HWC | 1.36% | 847,683 | — |
| 13 | ZION | 1.36% | 912,468 | — |
| 14 | AUB | 1.36% | 1,535,259 | — |
| 15 | FULT | 1.35% | 2,643,386 | — |
2026-07-15
15 holdings · 20.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | UMBF | 1.39% | 455,779 | — |
| 2 | CFR | 1.38% | 416,312 | — |
| 3 | RF | 1.38% | 2,104,630 | — |
| 4 | MTB | 1.37% | 268,654 | — |
| 5 | CFG | 1.37% | 926,030 | — |
| 6 | GBCI | 1.37% | 1,256,011 | — |
| 7 | BPOP | 1.37% | 385,236 | — |
| 8 | ONB | 1.37% | 2,468,368 | — |
| 9 | PNFP | 1.36% | 646,056 | — |
| 10 | ASB | 1.36% | 2,101,801 | — |
| 11 | AUB | 1.36% | 1,537,691 | — |
| 12 | FIBK | 1.36% | 1,660,740 | — |
| 13 | CBSH | 1.36% | 1,102,525 | — |
| 14 | HWC | 1.36% | 849,027 | — |
| 15 | ZION | 1.35% | 913,914 | — |
2026-07-14
15 holdings · 20.5% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | UMBF | 1.39% | 473,468 | — |
| 2 | BPOP | 1.39% | 400,181 | — |
| 3 | CFR | 1.38% | 432,433 | — |
| 4 | RF | 1.38% | 2,186,215 | — |
| 5 | CFG | 1.37% | 961,898 | — |
| 6 | MTB | 1.37% | 279,042 | — |
| 7 | PNFP | 1.37% | 671,095 | — |
| 8 | FHB | 1.36% | 2,230,846 | — |
| 9 | ONB | 1.36% | 2,564,016 | — |
| 10 | AUB | 1.36% | 1,597,275 | — |
| 11 | GBCI | 1.36% | 1,304,717 | — |
| 12 | ZION | 1.36% | 949,341 | — |
| 13 | FIBK | 1.36% | 1,725,126 | — |
| 14 | CBSH | 1.36% | 1,145,253 | — |
| 15 | ASB | 1.36% | 2,183,239 | — |
Source: 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 KRE Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedAt $66.97, KRE is trading within a defined range that suggests the asset has recently tested key moving average boundaries without breaking out decisively in either direction. This positioning relative to its Simple Moving Average envelope indicates a period of consolidation where price action is oscillating near historical averages rather than exhibiting strong momentum away from them. The current level sits close enough to these statistical benchmarks to imply that mean-reversion forces may be active, potentially pulling the stock back toward the center of its recent trading band if it drifts too far in one direction. The proximity to the envelope suggests a lack of significant trend acceleration at this specific moment, creating an environment where volatility is likely contained within established parameters. Traders observing this setup might note that the price has not yet found clear support or resistance beyond these moving average lines, which often serves as a signal for continued sideways movement until new catalysts emerge. This technical configuration highlights the importance of watching how the stock reacts to subsequent market noise rather than assuming an immediate breakout is imminent based solely on its current placement within this statistical corridor.
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 KRE’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: 2026-07-17.
SecuritiesDB is for informational purposes only. Not investment advice.