The iShares U.S. Regional Banks ETF (NYSEArca: IAT) is more of a play on super-regionals, such as Warren Buffett favorites US Bancorp (NYSE: USB) and M&T Bank (NYSE: MTB). That pair combine for almost 24% of IAT’s weight. The $496.4 million ETF is up 30.4% this year. Flirting with $33, if IAT can run to $35, it will be the ETF’s first close in that neighborhood in over five years. [ETFs for Regional Bank Exposure]
Although the SPDR S&P Bank ETF (NYSEArca: KBE) does not imply by its name that it is a regional bank fund, the $2.49 billion equal-weight ETF is a combination of pure regional, super regional and names such as Bank of America and Wells Fargo (NYSE: WFC). KBE closed at a five-year high Monday.
SPDR S&P Regional Banking ETF
Tom Lydon’s clients own shares of KRE.