KRE seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P® Regional Banks Select Industry Index (the "Index"). It seeks to provide exposure to the regional banks segment of the S&P. TMI Membership in the Select Industry Indices is based on the GICS classification, as well as liquidity and market cap requirements. Finally, it allows investors to take strategic or tactical positions at a more targeted level than traditional sector-based investing.
Editor’s Note: The summary bullets for this article were chosen by Seeking Alpha editors.