- ISIN
- US5007674709
- CUSIP
- 500767470
- Issuer
- CICC
- Inception Date
- Jan 12, 2023
- Category
- Options Trading
- Leveraged
- 1x (No leverage)
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $110M
Share Price Chart
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Performance
KLIP Performance Chart
KraneShares China Internet and Covered Call Strategy ETF (KLIP) is down 12.6% since the beginning of the year. KLIP is currently trading at $24 per share.
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Returns By Period
KraneShares China Internet and Covered Call Strategy ETF (KLIP) has returned -12.64% so far this year and -5.67% over the past 12 months.
KraneShares China Internet and Covered Call Strategy ETF
- 1D
- -0.80%
- 1M
- -3.96%
- YTD
- -12.64%
- 6M
- -14.80%
- 1Y
- -5.67%
- 3Y*
- 6.07%
- 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%
KLIP Monthly Returns History
Based on dividend-adjusted daily data since Jan 12, 2023, KLIP's average daily return is +0.03%, while the average monthly return is +0.46%. At this rate, an investment would double in approximately 12.6 years.
Historically, 60% of months were positive and 40% were negative. The best month was Jun 2023 with a return of +6.7%, while the worst month was Jan 2024 at -8.6%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 2 months.
On a daily basis, KLIP closed higher 52% of trading days. The best single day was Apr 9, 2025 with a return of +6.4%, while the worst single day was Apr 4, 2025 at -8.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.93% | -7.95% | -5.77% | 3.68% | -3.36% | -4.21% | -12.64% | ||||||
| 2025 | 2.89% | 1.22% | 3.48% | -5.04% | 3.31% | 4.58% | 2.61% | 4.10% | 3.14% | 0.34% | -2.47% | -1.91% | 16.92% |
| 2024 | -8.60% | 6.32% | 3.80% | 3.20% | -0.17% | -4.53% | 0.48% | 0.40% | 4.30% | -2.33% | -0.90% | 2.33% | 3.37% |
| 2023 | 0.88% | -5.84% | 3.24% | -0.82% | -4.93% | 6.74% | 6.13% | -1.10% | 0.76% | -0.62% | 5.77% | 1.28% | 11.11% |
Benchmark Metrics
KraneShares China Internet and Covered Call Strategy ETF has an annualized alpha of -5.46%, beta of 0.61, and R2 of 0.25 versus S&P 500 Index. Calculated based on daily prices since January 12, 2023.
- This ETF participated in 73.89% of S&P 500 Index downside but only 36.49% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.61 may look defensive, but with R2 of 0.25 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.25 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
- -5.46%
- Beta
- 0.61
- R²
- 0.25
- Upside Capture
- 36.49%
- Downside Capture
- 73.89%
Expense Ratio
KLIP has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
KLIP ranks 5 for risk / return — in the bottom 5% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for KraneShares China Internet and Covered Call Strategy ETF (KLIP) 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.
| KLIP | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.38 | ||
| Sortino ratioReturn per unit of downside risk | -3.14 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.37 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 2.78 | -3.11 |
| Martin ratioReturn relative to average drawdown | -0.76 | 12.44 | -13.20 |
Dividends
Dividend History
KraneShares China Internet and Covered Call Strategy ETF provided a 29.68% dividend yield over the last twelve months, with an annual payout of $7.03 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $7.03 | $7.54 | $17.58 | $29.88 |
Dividend yield | 29.68% | 25.14% | 54.26% | 61.22% |
Monthly Dividends
The table displays the monthly dividend distributions for KraneShares China Internet and Covered Call Strategy ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.64 | $0.58 | $0.52 | $0.53 | $0.51 | $0.00 | $2.77 | ||||||
| 2025 | $0.67 | $0.67 | $0.68 | $0.62 | $0.64 | $0.64 | $0.65 | $0.66 | $0.67 | $0.67 | $0.63 | $0.34 | $7.54 |
| 2024 | $1.72 | $1.85 | $1.84 | $1.58 | $1.52 | $1.38 | $1.20 | $1.14 | $1.18 | $1.83 | $1.67 | $0.67 | $17.58 |
| 2023 | $1.68 | $3.48 | $3.29 | $3.10 | $2.59 | $2.50 | $2.50 | $2.50 | $2.24 | $2.09 | $2.03 | $1.88 | $29.88 |
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 China Internet and Covered Call Strategy 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 China Internet and Covered Call Strategy ETF was 18.61%, occurring on Apr 8, 2025. Recovery took 47 trading sessions.
The current KraneShares China Internet and Covered Call Strategy ETF drawdown is 17.65%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -18.61%Apr 2025 | 21d | 2mo 9d | 3moMar 2025 - Jun 2025 |
2026 correction2026 | -17.65%Jun 2026 | 4mo 23d | — | 4mo 24dJan 2026 - now |
2023 correction2023 | -10.39%Mar 2023 | 1mo 14d | 4mo | 5mo 14dJan 2023 - Jul 2023 |
2024 pullback2024 | -9.53%Jan 2024 | 20d | 1mo 28d | 2mo 18dJan 2024 - Mar 2024 |
2024 pullback2024 | -9.34%Aug 2024 | 2mo 14d | 6mo 9d | 8mo 23dMay 2024 - Feb 2025 |
Drawdown Indicators
| KLIP | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.61% | -56.78% | +38.17% |
Max Drawdown (1Y)Largest decline over 1 year | -17.65% | -9.10% | -8.55% |
Max Drawdown (3Y)Largest decline over 3 years | -18.61% | -18.90% | +0.29% |
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 | -17.65% | -1.80% | -15.85% |
Average DrawdownAverage peak-to-trough decline | -3.95% | -10.71% | +6.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.49% | 2.03% | +5.46% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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