Insurance vs the S&P 500 (KIE): is it outperforming?
Over the past month, KIE has outperformed the S&P 500 by 9.4 points. Here is where that puts it in the sector rotation — updated daily.
Where KIE sits on the rotation map
Insurance highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
KIE vs SPY: head-to-head returns
KIE (insurance) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means KIE won that window.
Data as of 2026-07-13 · computed from daily adjusted closes · how we measure
The read
Insurance (KIE) has just turned the corner. Over the longer, time-shifted window it trailed the S&P 500 by 5.4 points, but over the past month it has moved decisively ahead of the market — a 9.4-point edge that puts it in the improving quadrant. Ranked by one-month spread, it currently stands #2 of the 115 groups Zensei tracks — inside the top tier of the market.
On the shorter tape, KIE's momentum is mixed: the longer intraday trend is still positive, but the recent windows have gone flat. KIE's relative-strength line is holding around its moving averages — the trend is intact but no longer extending. The longer trend remains healthier than the recent tape suggests — the kind of divergence worth rechecking in a week.
The exposure comes via SPDR S&P Insurance ETF, whose 53 tracked holdings are led by THE BALDWIN INSURANCE GROUP INC CLASS A, LEMONADE INC ORDINARY SHARES and PALOMAR HOLDINGS INC. Weighted by portfolio, the fund's holdings trade at roughly 15.2× earnings and 1.9× sales. The thing to watch from here is confirmation: improving groups that hold a positive one-month spread long enough for the longer window to turn are the classic early-rotation entries — the ones that fail fall back quickly.
What's inside KIE
Top 5 of 53 tracked holdings, by portfolio weight.
Insurance vs the market — common questions
Is insurance outperforming the S&P 500?
Right now, yes: over the past month KIE has outperformed the S&P 500 by 9.4 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is KIE?
KIE is SPDR S&P Insurance ETF, the fund Zensei uses to measure the insurance group against the S&P 500 benchmark (SPY).
Which stocks are in KIE?
KIE's largest tracked positions are THE BALDWIN INSURANCE GROUP INC CLASS A, LEMONADE INC ORDINARY SHARES, PALOMAR HOLDINGS INC, SKYWARD SPECIALTY INSURANCE GROUP INC, RYAN SPECIALTY HOLDINGS INC CLASS A — 53 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is insurance in right now?
As of the latest daily data, insurance is in the improving quadrant — behind the market over the longer window, but ahead over the past month. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track insurance 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.