- Issuer
- KraneShares
- Inception Date
- Nov 18, 2025
- Leveraged
- 2x
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
- Assets Under Management
- $479K
Share Price Chart
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Performance
KBDU Performance Chart
KraneShares 2X Long BIDU Daily ETF (KBDU) is down 38.8% since the beginning of the year. KBDU is currently trading at $19 per share.
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Returns By Period
KraneShares 2X Long BIDU Daily ETF
- 1D
- -0.20%
- 1M
- -25.69%
- YTD
- -38.75%
- 6M
- -32.80%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
KBDU Monthly Returns History
Based on dividend-adjusted daily data since Nov 20, 2025, KBDU's average daily return is -0.01%, while the average monthly return is -0.40%.
Historically, 50% of months were positive and 50% were negative. The best month was Jan 2026 with a return of +32.0%, while the worst month was Feb 2026 at -35.5%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 2 months.
On a daily basis, KBDU closed higher 48% of trading days. The best single day was Jan 2, 2026 with a return of +30.3%, while the worst single day was Jun 5, 2026 at -19.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 31.97% | -35.47% | -21.56% | 25.29% | 9.93% | -33.43% | -38.75% | ||||||
| 2025 | -1.24% | 21.29% | 19.79% |
Benchmark Metrics
KraneShares 2X Long BIDU Daily ETF has an annualized alpha of -53.84%, beta of 3.48, and R2 of 0.21 versus S&P 500 Index. Calculated based on daily prices since November 20, 2025.
- This ETF captured 607.83% of S&P 500 Index gains and 458.31% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- R2 of 0.21 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -53.84%
- Beta
- 3.48
- R²
- 0.21
- Upside Capture
- 607.83%
- Downside Capture
- 458.31%
Expense Ratio
KBDU has a high expense ratio of 1.26%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for KraneShares 2X Long BIDU Daily ETF (KBDU) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| KBDU | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.78 | — |
| Martin ratioReturn relative to average drawdown | — | 12.44 | — |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the KraneShares 2X Long BIDU Daily ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the KraneShares 2X Long BIDU Daily ETF was 59.14%, occurring on Mar 30, 2026. The portfolio has not yet recovered.
The current KraneShares 2X Long BIDU Daily ETF drawdown is 59.04%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -59.14%Mar 2026 | 2mo 6d | — | 5mo 1dJan 2026 - now |
2025 correction2025 | -17.52%Dec 2025 | 6d | 15d | 21dDec 2025 - Dec 2025 |
2026 correction2026 | -12.01%Jan 2026 | 3d | 4d | 7dJan 2026 - Jan 2026 |
2025 correction2025 | -10.99%Nov 2025 | 0s | 4d | 4dNov 2025 - Nov 2025 |
2025 pullback2025 | -4.75%Nov 2025 | 1d | 5d | 6dNov 2025 - Dec 2025 |
Drawdown Indicators
| KBDU | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.14% | -56.78% | -2.36% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -59.04% | -1.80% | -57.24% |
Average DrawdownAverage peak-to-trough decline | -30.78% | -10.71% | -20.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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