BABX vs. KBAB

Last updated Jun 5, 2026

BABX (GraniteShares 2x Long BABA Daily ETF) and KBAB (KraneShares 2x Long BABA Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, BABX returned -12.32% vs -12.41% for KBAB. With a 1.00 correlation, they move nearly in lockstep. BABX charges 1.15%/yr vs 1.00%/yr for KBAB.

Performance

BABX vs. KBAB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long BABA Daily ETF (BABX) and KraneShares 2x Long BABA Daily ETF (KBAB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BABX having a -34.02% return and KBAB slightly lower at -34.51%.

BABX

• 1D: -2.02%
• 1M: -11.70%
• YTD: -34.02%
• 6M: -43.39%
• 1Y: -12.32%
• 3Y*: 5.92%
• 5Y*: —
• 10Y*: —

KBAB

• 1D: -2.24%
• 1M: -11.65%
• YTD: -34.51%
• 6M: -43.88%
• 1Y: -12.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BABX vs. KBAB - Yearly Performance Comparison

	2026 (YTD)	2025
BABX GraniteShares 2x Long BABA Daily ETF	-34.02%	-6.97%
KBAB KraneShares 2x Long BABA Daily ETF	-34.51%	-7.77%

Correlation

The correlation between BABX and KBAB is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025	1.00

The correlation between BABX and KBAB has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

BABX vs. KBAB - Sectors Allocation Comparison

Sectors	BABX	KBAB
Consumer Cyclical	66.7%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BABX vs. KBAB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BABX

BABX Risk / Return Rank: 9
BABX Sharpe Ratio Rank: 8
BABX Sortino Ratio Rank: 12
BABX Omega Ratio Rank: 12
BABX Calmar Ratio Rank: 7
BABX Martin Ratio Rank: 8

KBAB

KBAB Risk / Return Rank: 9
KBAB Sharpe Ratio Rank: 8
KBAB Sortino Ratio Rank: 12
KBAB Omega Ratio Rank: 12
KBAB Calmar Ratio Rank: 7
KBAB Martin Ratio Rank: 7

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BABX vs. KBAB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long BABA Daily ETF (BABX) and KraneShares 2x Long BABA Daily ETF (KBAB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BABX	KBAB	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	-0.14	0.00
Sortino ratio: Return per unit of downside risk	0.45	0.45	0.00
Omega ratio: Gain probability vs. loss probability	1.05	1.05	0.00
Calmar ratio: Return relative to maximum drawdown	-0.19	-0.19	0.00
Martin ratio: Return relative to average drawdown	-0.34	-0.34	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BABX vs. KBAB - Sharpe Ratio Comparison

The current BABX Sharpe Ratio is -0.14, which is comparable to the KBAB Sharpe Ratio of -0.14. The chart below compares the historical Sharpe Ratios of BABX and KBAB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BABX	KBAB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.14	-0.14	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	-0.37	+0.34

Drawdowns

BABX vs. KBAB - Drawdown Comparison

The maximum BABX drawdown since its inception was -70.62%, which is greater than KBAB's maximum drawdown of -65.23%. Use the drawdown chart below to compare losses from any high point for BABX and KBAB.

Drawdown Indicators

	BABX	KBAB	Difference
Max Drawdown Largest peak-to-trough decline	-70.62%	-65.23%	-5.39%
Max Drawdown (1Y) Largest decline over 1 year	-64.86%	-65.23%	+0.37%
Max Drawdown (3Y) Largest decline over 3 years	-64.86%	—	—
Current Drawdown Current decline from peak	-62.76%	-63.11%	+0.35%
Average Drawdown Average peak-to-trough decline	-45.26%	-37.47%	-7.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.51%	36.68%	-0.17%

Volatility

BABX vs. KBAB - Volatility Comparison

GraniteShares 2x Long BABA Daily ETF (BABX) and KraneShares 2x Long BABA Daily ETF (KBAB) have volatilities of 29.33% and 28.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BABX	KBAB	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.33%	28.64%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	57.66%	57.46%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	87.54%	87.67%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.08%	90.88%	-7.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.08%	90.88%	-7.80%

BABX vs. KBAB - Expense Ratio Comparison

BABX has a 1.15% expense ratio, which is higher than KBAB's 1.00% expense ratio.

Dividends

BABX vs. KBAB - Dividend Comparison

BABX has not paid dividends to shareholders, while KBAB's dividend yield for the trailing twelve months is around 91.44%.

Position	TTM	2025
BABX GraniteShares 2x Long BABA Daily ETF	0.00%	0.00%
KBAB KraneShares 2x Long BABA Daily ETF	91.44%	59.88%

Frequently Asked Questions

Can I hold both BABX and KBAB in my portfolio?

With a correlation of 1.00, BABX and KBAB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BABX or KBAB?

BABX has higher volatility (29.33%) compared to KBAB (28.64%). In terms of maximum drawdown, BABX dropped -70.62% vs KBAB's -65.23%.

Which ETF is better, BABX or KBAB?

On 1-year performance, BABX leads with -12.32% vs -12.41% for KBAB. On fees, KBAB is cheaper at 1.00% per year. On volatility, KBAB has been the lower-risk option at 28.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BABX or KBAB?

Over the 1-year period, BABX has performed better with a -12.32% return vs -12.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BABX or KBAB?

KBAB is cheaper with a 1.00% expense ratio, compared with 1.15% for BABX.

Which ETF pays a higher dividend yield, BABX or KBAB?

KBAB has the higher dividend yield at 91.44%, compared with 0.00% for BABX.

What is the main difference between BABX and KBAB?

They also come from different issuers: GraniteShares and KraneShares. Their fees differ too: 1.15% for BABX and 1.00% for KBAB.

Which has better risk-adjusted returns?

BABX currently has the higher Sharpe Ratio (-0.14 vs -0.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.