The Financial Select Sector SPDR ETF was up 2.5% and the KBW Bank Index was trading up around 2.2%.
Banks are once again feeling the brunt of it with the KBW bank index down nearly 5% this morning.
Goldman Sachs, JPMorgan Chase, Jefferies, Interactive Brokers Group, Cantor Fitzgerald and Credit Suisse are some, KBW says.
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With that in mind, KBW put together a lengthy list of banks that could be buyers, sellers and in between.
The XLF is down 42% since that apex, but smaller banks in the KBW Regional Banks (KRE) ETF fared better, down 24%.
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The SPDR KBW Capital Markets ETF ( KCE) has 8.1% of their holdings in Morgan Stanley, followed by Goldman Sachs at 7.9%.
The KBW Bank Index fell by 5.3%, but some of the biggest banks in the U.S. fell more, like Citigroup, which fell by 6.6%.
Bank stocks as measured by the KBW Bank Index are up 27% during the last year, compared with a 12% return for the Dow.
Year-to-date, the SPDR KBW Capital Markets ETF is down 12.81%.
According to the ETF Finder at ETF Channel, FRC makes up 3.03% of the KBW Regional Banking Portfolio ETF ( AMEX: KBWR )which is trading relatively unchanged on the day Thursday.
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According to the ETF Finder at ETF Channel, WTFC makes up 2.51% of the KBW Regional Bank Portfolio ETF ( AMEX: KBWR )which is trading relatively unchanged on the day Friday.
According to the ETF Finder at ETF Channel, FCF makes up 1.67% of the KBW Regional Bank Portfolio ETF ( AMEX: KBWR )which is trading relatively unchanged on the day Tuesday.
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According to the ETF Finder at ETF Channel, GNW makes up 2.97% of the KBW Insurance Portfolio ETF ( AMEX: KBWI )which is trading up by about 0.4% on the day Thursday.
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According to the ETF Finder at ETF Channel, HPT makes up 3.23% of the KBW High Dividend Yield Financial Portfolio ETF (KBWD) which is up by about 0.5% on the day Thursday.
According to the ETF Finder at ETF Channel, WBS makes up 2.41% of the KBW Regional Bank Portfolio ETF ( AMEX: KBWR )which is trading higher by about 0.4% on the day Friday.
According to the ETF Finder at ETF Channel, Goldman Sachs Group Incorporated ( NYSE: GS) makes up 8.49% of the KBW Capital Markets Portfolio ETF (KBWC)which is trading relatively unchanged on the day Friday.
According to the ETF Finder at ETF Channel, BRKL makes up 2.00% of the Proshares Ultra KBW Regional Banking ETF ( AMEX: KRU )which is trading higher by about 8.1% on the day Wednesday.
According to the ETF Finder at ETF Channel, ONB makes up 1.68% of the Proshares Ultra KBW Regional Banking ETF ( AMEX: KRU )which is trading lower by about 3.4% on the day Monday.
According to the ETF Finder at ETF Channel, IRC makes up 3.38% of the KBW Premium Yield Equity REIT Portfolio ETF ( AMEX: KBWY )which is trading higher by about 0.8% on the day Thursday.
According to the ETF Finder at ETF Channel, CMO makes up 3.35% of the KBW High Dividend Yield Financial Portfolio ETF ( AMEX: KBWD )which is trading lower by about 1.3% on the day Tuesday.
According to the ETF Finder at ETF Channel, DCOM makes up 1.38% of the KBW High Dividend Yield Financial Portfolio ETF ( AMEX: KBWD )which is trading lower by about 0.4% on the day Friday.
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According to the ETF Finder at ETF Channel, LXP makes up 3.31% of the KBW Premium Yield Equity REIT Portfolio ETF ( AMEX: KBWY )which is trading lower by about 0.3% on the day Monday.
According to the ETF Finder at ETF Channel, ORIT makes up 1.44% of the KBW High Dividend Yield Financial Portfolio ETF ( AMEX: KBWD )which is trading lower by about 0.4% on the day Monday.
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"Regardless of how advanced a technology is, if there is no merchant adoption, then there will be no consumer adoption and vice versa, " Sanjay Sakhrani, an analyst with KBW, wrote in a research note this month.
According to the ETF Finder at ETF Channel, FPO makes up 3.69% of the KBW Premium Yield Equity REIT Portfolio ETF ( AMEX: KBWY )which is trading lower by about 0.1% on the day Monday.
The SPDR KBW Mortgage Finance ETF (NYSE: KME) which holds the same seven holdings as the Dow Jones U.S. Home Construction Index Fund, however the seven holdings only make up about 29% of the ETF.
According to the ETF Finder at ETF Channel, PRK makes up 2.06% of the KBW High Dividend Yield Financial Portfolio ETF ( AMEX: KBWD )which is trading up by about 0.6% on the day Friday.
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According to the ETF Finder at ETF Channel, Goldman Sachs Group Incorporated ( NYSE: GS) makes up 8.49% of the KBW Capital Markets Portfolio ETF (KBWC)which is trading up by about 0.2% on the day Friday.
KBW, Inc. ( KBW) is a research driven, boutique investment bank focused exclusively on financial services companies, including banks, thrifts, insurance, brokers, asset managers, specialty finance, exchanges and REITS. It offers investment banking, sales, trading research and asset management.
Other ETFs with a large Bank of America position include the iShares Dow Jones U.S. Financial Services Index Fund (IYG), with an allocation of nearly 9.8%, and the SPDR KBW Bank ETF (KBE) with an allocation of over 10.6%.
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