BILI vs. KWEB

Last updated Jun 25, 2026

BILI (Bilibili Inc.) is a stock, while KWEB (KraneShares CSI China Internet ETF) is China Equities fund tracking the CSI Overseas China Internet Index. Over the past 5 years, BILI returned -33.23%/yr vs -16.26%/yr for KWEB. A 0.75 correlation means they provide meaningful diversification when combined.

Performance

BILI vs. KWEB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bilibili Inc. (BILI) and KraneShares CSI China Internet ETF (KWEB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BILI achieves a -32.86% return, which is significantly lower than KWEB's -28.63% return.

BILI

• 1D: 3.45%
• 1M: -4.18%
• YTD: -32.86%
• 6M: -33.35%
• 1Y: -20.24%
• 3Y*: 3.39%
• 5Y*: -33.23%
• 10Y*: —

KWEB

• 1D: -0.78%
• 1M: -9.70%
• YTD: -28.63%
• 6M: -29.59%
• 1Y: -25.64%
• 3Y*: 0.45%
• 5Y*: -16.26%
• 10Y*: -0.65%

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

BILI vs. KWEB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BILI Bilibili Inc.	-32.86%	35.78%	48.81%	-48.63%	-48.94%	-45.87%	360.37%	27.62%	48.88%
KWEB KraneShares CSI China Internet ETF	-28.63%	23.55%	12.01%	-9.06%	-17.24%	-49.01%	58.23%	29.92%	-36.58%

Correlation

The correlation between BILI and KWEB is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Mar 28, 2018	0.75

The correlation between BILI and KWEB shifts across timeframes, from 0.72 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BILI vs. KWEB — Risk / Return Rank

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

BILI

BILI Risk / Return Rank: 27
BILI Sharpe Ratio Rank: 25
BILI Sortino Ratio Rank: 26
BILI Omega Ratio Rank: 26
BILI Calmar Ratio Rank: 31
BILI Martin Ratio Rank: 28

KWEB

KWEB Risk / Return Rank: 2
KWEB Sharpe Ratio Rank: 2
KWEB Sortino Ratio Rank: 2
KWEB Omega Ratio Rank: 2
KWEB Calmar Ratio Rank: 4
KWEB Martin Ratio Rank: 2

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.

BILI vs. KWEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bilibili Inc. (BILI) and KraneShares CSI China Internet ETF (KWEB). 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.

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.

	BILI	KWEB	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	-0.95	+0.54
Sortino ratio: Return per unit of downside risk	-0.30	-1.34	+1.04
Omega ratio: Gain probability vs. loss probability	0.97	0.85	+0.12
Calmar ratio: Return relative to maximum drawdown	-0.37	-0.64	+0.28
Martin ratio: Return relative to average drawdown	-0.81	-1.36	+0.55

BILI vs. KWEB - Sharpe Ratio Comparison

The current BILI Sharpe Ratio is -0.41, which is higher than the KWEB Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of BILI and KWEB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BILI vs. KWEB - Drawdown Comparison

The maximum BILI drawdown since its inception was -94.30%, which is greater than KWEB's maximum drawdown of -80.92%. Use the drawdown chart below to compare losses from any high point for BILI and KWEB.

Drawdown Indicators

	BILI	KWEB	Difference
Max Drawdown Largest peak-to-trough decline	-94.30%	-80.92%	-13.38%
Max Drawdown (1Y) Largest decline over 1 year	-55.57%	-39.96%	-15.61%
Max Drawdown (3Y) Largest decline over 3 years	-55.57%	-39.96%	-15.61%
Max Drawdown (5Y) Largest decline over 5 years	-92.97%	-72.17%	-20.80%
Max Drawdown (10Y) Largest decline over 10 years	—	-80.92%	—
Current Drawdown Current decline from peak	-89.44%	-71.89%	-17.55%
Average Drawdown Average peak-to-trough decline	-58.07%	-35.38%	-22.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.91%	18.86%	+6.05%

Volatility

BILI vs. KWEB - Volatility Comparison

Bilibili Inc. (BILI) has a higher volatility of 13.05% compared to KraneShares CSI China Internet ETF (KWEB) at 8.05%. This indicates that BILI's price experiences larger fluctuations and is considered to be riskier than KWEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BILI	KWEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.05%	8.05%	+5.00%
Volatility (6M) Calculated over the trailing 6-month period	37.14%	20.44%	+16.70%
Volatility (1Y) Calculated over the trailing 1-year period	49.62%	27.15%	+22.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.11%	47.69%	+31.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.85%	40.00%	+33.85%

Dividends

BILI vs. KWEB - Dividend Comparison

BILI has not paid dividends to shareholders, while KWEB's dividend yield for the trailing twelve months is around 8.63%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BILI Bilibili Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KWEB KraneShares CSI China Internet ETF	8.63%	6.16%	3.51%	1.71%	0.00%	7.07%	0.29%	0.08%	3.40%	0.58%	1.19%	0.46%

Frequently Asked Questions

Can I hold both BILI and KWEB in my portfolio?

BILI and KWEB have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BILI or KWEB?

BILI has higher volatility (13.05%) compared to KWEB (8.05%). In terms of maximum drawdown, BILI dropped -94.30% vs KWEB's -80.92%.

Which has better risk-adjusted returns?

BILI currently has the higher Sharpe Ratio (-0.41 vs -0.95), 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.