Bank Stocks
Top 10 of 25 KBWB holdings, updated
As of 12 October 2026, bank stocks are among the weakest groups in the market, well behind the S&P 500. KBWB trails the S&P 500 by 10.8 points over one month and ranks #105 of 115 groups Zensei tracks. 14 of the 24 bank stocks Zensei prices in KBWB beat the fund this month.
Where bank stocks stand now
As of 12 October 2026, Banks (KBWB) ranks #105 of the 115 groups Zensei tracks by one-month return against the S&P 500, among the market's weakest pockets. It is out of favor: it trails the S&P 500 on both rotation windows — 10.8 points behind over the past month and 1.1 points behind over the longer, time-shifted window. That is the Underperformers quadrant.
On the shorter tape, KBWB's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. KBWB's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via Invesco KBW Bank ETF, whose 25 tracked holdings are led by Wells Fargo & Co, Jpmorgan Chase & Co and Morgan Stanley. Weighted by portfolio, the fund's holdings trade at roughly 12.9× earnings. The thing to watch from here is the one-month spread: underperformers only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
Top bank stocks right now
The largest bank stocks by weight in KBWB, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Largest by fund weight
Share of KBWB
- 1Wells Fargo & CoWFC8.1%
- 2Jpmorgan Chase & CoJPM8.1%
- 3Morgan StanleyMS7.8%
- 4The Goldman Sachs Group IncGS7.6%
- 5Bank of America CorpBAC7.6%
Strongest this month
1-month return, holdings Zensei prices
- 1East West Bancorp IncEWBC−2.8%
- 2Capital One Financial CorpCOF−3.4%
- 3Pinnacle Financial Partners IncPNFP−4.8%
- 4Citigroup IncC−5.0%
- 5Jpmorgan Chase & CoJPM−5.6%
Bank Stocks vs the S&P 500
Over the week to 12 October 2026, KBWB rose 0.5% while the S&P 500 rose 0.4%. KBWB and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means KBWB won that window.
Prices as of · computed from daily adjusted closes · how we measure
Banks on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are bank stocks expensive?
The price-to-earnings ratio of KBWB as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out.
KBWB holdings: the bank stocks inside
As of 12 October 2026, 14 of the 24 bank stocks Zensei prices in KBWB beat the fund over the past month. 0 of them beat the S&P 500. The strongest is East West Bancorp Inc (EWBC); the weakest is The Goldman Sachs Group Inc (GS). Inside the fund, the holdings move close to the sector.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | WFCWells Fargo & Co | 8.1% | −7.7% | −4.4% | +1.0 pts | Accelerating | Strong |
| 2 | JPMJpmorgan Chase & Co | 8.1% | −5.6% | +0.5% | +3.1 pts | Strong | Strong |
| 3 | MSMorgan Stanley | 7.8% | −11.4% | −13.6% | −2.7 pts | Weak | Broken |
| 4 | GSThe Goldman Sachs Group Inc | 7.6% | −13.1% | −14.0% | |||
| 5 | BACBank of America Corp | 7.6% | −13.0% | −7.8% | |||
| 6 | CCitigroup Inc | 4.2% | −5.0% | −5.8% | |||
| 7 | FITBFifth Third Bancorp | 4.1% | −6.4% | −10.4% | |||
| 8 | TFCTruist Financial Corp | 4.0% | −7.5% | −9.3% | |||
| 9 | COFCapital One Financial Corp | 4.0% | −3.4% | −0.6% | |||
| 10 | USBU.S. Bancorp | 4.0% | −7.8% | −7.0% |
All 25 KBWB holdings by weight: Wells Fargo & Co (WFC) 8.1%, Jpmorgan Chase & Co (JPM) 8.1%, Morgan Stanley (MS) 7.8%, The Goldman Sachs Group Inc (GS) 7.6%, Bank of America Corp (BAC) 7.6%, Citigroup Inc (C) 4.2%, Fifth Third Bancorp (FITB) 4.1%, Truist Financial Corp (TFC) 4.0%, Capital One Financial Corp (COF) 4.0%, U.S. Bancorp (USB) 4.0%, State Street Corp (STT) 4.0%, M&t Bank Corp (MTB) 4.0%, Pnc Financial Services Group Inc (PNC) 4.0%, Northern Trust Corp (NTRS) 3.9%, Huntington Bancshares Inc (HBAN) 3.9%, Bank of New York Mellon Corp (BNY) 3.9%, Citizens Financial Group Inc (CFG) 3.4%, Regions Financial Corp (RF) 2.9%, Keycorp (KEY) 2.7%, East West Bancorp Inc (EWBC) 2.2%, Pinnacle Financial Partners Inc (PNFP) 1.8%, First Horizon Corp (FHN) 1.4%, Zions Bancorp Na (ZION) 1.1%, Western Alliance Bancorp (WAL) 1.0%, Invesco Shrt-Trm Inv Gov&agcy Instl (AGPXX) 0.1%.
Bank Stocks: common questions
What are the top 3 bank stocks?
As of 12 October 2026, the three largest bank stocks in KBWB by fund weight are Wells Fargo & Co (WFC) (8.1%), Jpmorgan Chase & Co (JPM) (8.1%) and Morgan Stanley (MS) (7.8%). Fund weight shows size inside the fund, not a recommendation.
Which bank stocks are beating the sector?
As of 12 October 2026, 14 of the 24 bank stocks Zensei prices in KBWB beat the fund over the past month. The strongest over the past month is East West Bancorp Inc (EWBC). The list above shows every holding with its weight and returns.
Are bank stocks outperforming the S&P 500?
No. As of 12 October 2026, KBWB trails the S&P 500 by 10.8 points over the past month.
Is it a good time to invest in bank stocks?
Zensei does not give investment advice, but it measures the trend. As of 12 October 2026, bank stocks are behind the S&P 500 on both the recent and the longer window. The rotation map and the read on this page show whether that trend is building or fading.
What is KBWB?
KBWB is Invesco KBW Bank ETF. Zensei uses it to measure bank stocks against the S&P 500 (SPY).
What stocks does KBWB own?
As of 12 October 2026, the largest of the 25 positions Zensei tracks in KBWB are Wells Fargo & Co, Jpmorgan Chase & Co, Morgan Stanley, The Goldman Sachs Group Inc, Bank of America Corp. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is banks in right now?
As of 12 October 2026, banks is in the Underperformers quadrant — trailing the S&P 500 on both windows. The Zensei methodology page explains the quadrants.
Recent changes
- ·Trailing the market → among the weakest
- ·Losing ground → trailing the market
- ·Among the weakest → losing ground
- ·Trailing the market → among the weakest
- ·First tracked: trailing the market
Related sectors
Track banks against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.