For instance KIE follows more of an equal-weight methodology where it’s largest component only makes up 2.5% of the portfolio. Additionally, the State Street offering includes a 38.4% position in property & casualty insurance, 23.1% in life & health, 14.3% in multi-line, 14.3% in reinsurance and 9.8% in insurance brokers.

IAK follows a market capitalization-weighted index of broad insurance companies, including a 14.2% tilt toward American International Group (NYSE: AIG), 10.6% in MetLife (NYSE: MET) and 6.7% in Prudential Financial (NYSE: PRD).

KBWI also has a similar large-cap weight, including larger tilts toward MET 8.4% and PRU 8.0%.

Lastly, KBWP focuses on property & casualty insurance providers, such as Chubb Corp (NYSE: CB) 9.3%, Progressive (NYSE: PGR) 8.2% and Travelers Co (NYSE: TRV) 7.5%.

For more information on the insurance industry, visit our insurance category.

Max Chen contributed to this article.