Regional Banks vs the S&P 500 (KRE): is it outperforming?
Over the past month, KRE has underperformed the S&P 500 by 5.9 points. Here is where that puts it in the sector rotation — updated daily.
Where KRE sits on the rotation map
Regional Banks 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.
KRE vs SPY: head-to-head returns
KRE (regional banks) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means KRE won that window.
Data as of 2026-08-27 · computed from daily adjusted closes · how we measure
The read
Regional Banks (KRE) is losing its lead. It built a 11.0-point advantage over the S&P 500 across the longer, time-shifted window, but over the past month it has slipped 5.9 points behind the market — the Cooling quadrant of the rotation map. Ranked by one-month spread, it currently stands #98 of the 115 groups Zensei tracks.
On the shorter tape, KRE's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. KRE'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 SPDR S&P Regional Banking ETF, whose 159 tracked holdings are led by FIRST BANCORP, ATLANTIC UNION BANKSHARES CORP and PINNACLE FINANCIAL PARTNERS INC. Weighted by portfolio, the fund's holdings trade at roughly 19.3× earnings and 4.4× sales. The thing to watch from here is whether this is a pause or a handoff: cooling groups sometimes reset and reclaim leadership, but a deepening one-month deficit usually means rotation has moved on.
What's inside KRE
Top 5 of 159 tracked holdings, by portfolio weight.
Regional Banks vs the market — common questions
Is regional banks outperforming the S&P 500?
Right now, no: over the past month KRE has underperformed the S&P 500 by 5.9 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is KRE?
KRE is SPDR S&P Regional Banking ETF, the fund Zensei uses to measure the regional banks group against the S&P 500 benchmark (SPY).
Which stocks are in KRE?
KRE's largest tracked positions are FIRST BANCORP, ATLANTIC UNION BANKSHARES CORP, PINNACLE FINANCIAL PARTNERS INC, UMB FINANCIAL CORP, CITIZENS FINANCIAL GROUP INC — 159 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is regional banks in right now?
As of the latest daily data, regional banks is in the Cooling quadrant — still ahead over the longer window, but behind the market over the past month. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track regional 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.