BNDD vs. KTEC

Last updated Aug 5, 2026

BNDD (Quadratic Deflation ETF) and KTEC (KraneShares Hang Seng TECH Index ETF) are both exchange-traded funds - BNDD is a Government Bonds fund actively managed by KraneShares, while KTEC is a China Equities fund tracking the Hang Seng Tech Index. BNDD is actively managed, while KTEC is passively managed. Over the past 3 years, BNDD returned -3.62%/yr vs 1.38%/yr for KTEC. Their -0.00 correlation means they have often moved in opposite directions in the past. BNDD charges 1.02%/yr vs 0.69%/yr for KTEC.

Performance

BNDD vs. KTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Quadratic Deflation ETF (BNDD) and KraneShares Hang Seng TECH Index ETF (KTEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNDD achieves a 2.69% return, which is significantly higher than KTEC's -12.02% return.

BNDD

• 1D: 0.27%
• 1M: -3.64%
• 6M: 2.03%
• YTD: 2.69%
• 1Y: 0.67%
• 3Y*: -3.62%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -4.53%

KTEC

• 1D: 0.06%
• 1M: 11.11%
• 6M: -10.82%
• YTD: -12.02%
• 1Y: -13.52%
• 3Y*: 1.38%
• 5Y*: -6.94%
• 10Y*: —
• ALL TIME*: -10.24%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BNDD Quadratic Deflation ETF	$1.11M	$4.58M	$3.16M
KTEC KraneShares Hang Seng TECH Index ETF	$995.11K	$971.85K	$1.05M

BNDD vs. KTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BNDD Quadratic Deflation ETF	2.69%	-8.17%	-6.65%	4.02%	-17.48%	5.63%
KTEC KraneShares Hang Seng TECH Index ETF	-12.02%	21.01%	16.13%	-10.41%	-26.12%	-6.87%

Correlation

The correlation between BNDD and KTEC is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.02
Correlation (3Y) Balances recent behavior with more history.	0.03
Correlation (All Time) Calculated using the full available price history since Sep 21, 2021	-0.00

Return for Risk

BNDD vs. KTEC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BNDD

BNDD Risk / Return Rank: 11
BNDD Sharpe Ratio Rank: 11
BNDD Sortino Ratio Rank: 10
BNDD Omega Ratio Rank: 10
BNDD Calmar Ratio Rank: 12
BNDD Martin Ratio Rank: 12

KTEC

KTEC Risk / Return Rank: 5
KTEC Sharpe Ratio Rank: 5
KTEC Sortino Ratio Rank: 5
KTEC Omega Ratio Rank: 5
KTEC Calmar Ratio Rank: 6
KTEC Martin Ratio Rank: 6

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BNDD vs. KTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Quadratic Deflation ETF (BNDD) and KraneShares Hang Seng TECH Index ETF (KTEC). 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.

	BNDD	KTEC	Difference
Sharpe ratio: Return per unit of total volatility	0.07	-0.48	+0.55
Sortino ratio: Return per unit of downside risk	0.16	-0.54	+0.70
Omega ratio: Gain probability vs. loss probability	1.02	0.94	+0.08
Calmar ratio: Return relative to maximum drawdown	0.11	-0.37	+0.48
Martin ratio: Return relative to average drawdown	0.23	-0.66	+0.89

BNDD vs. KTEC - Sharpe Ratio Comparison

The current BNDD Sharpe Ratio is 0.07, which is higher than the KTEC Sharpe Ratio of -0.48. The chart below compares the historical Sharpe Ratios of BNDD and KTEC, 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

BNDD vs. KTEC - Drawdown Comparison

The maximum BNDD drawdown since its inception was -30.87%, smaller than the maximum KTEC drawdown of -66.90%. Use the drawdown chart below to compare losses from any high point for BNDD and KTEC.

Drawdown Indicators

	BNDD	KTEC	Difference
Max Drawdown Largest peak-to-trough decline	-30.87%	-66.90%	+36.03%
Max Drawdown (1Y) Largest decline over 1 year	-6.09%	-36.49%	+30.40%
Max Drawdown (3Y) Largest decline over 3 years	-17.70%	-36.49%	+18.79%
Max Drawdown (5Y) Largest decline over 5 years	—	-60.08%	—
Current Drawdown Current decline from peak	-27.65%	-44.48%	+16.83%
Average Drawdown Average peak-to-trough decline	-19.55%	-44.06%	+24.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	20.61%	-17.70%

Volatility

BNDD vs. KTEC - Volatility Comparison

The current volatility for Quadratic Deflation ETF (BNDD) is 2.66%, while KraneShares Hang Seng TECH Index ETF (KTEC) has a volatility of 7.10%. This indicates that BNDD experiences smaller price fluctuations and is considered to be less risky than KTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNDD	KTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	7.10%	-4.44%
Volatility (6M) Calculated over the trailing 6-month period	6.90%	20.10%	-13.20%
Volatility (1Y) Calculated over the trailing 1-year period	10.26%	28.13%	-17.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.25%	42.61%	-29.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.25%	42.72%	-29.47%

BNDD vs. KTEC - Expense Ratio Comparison

BNDD has a 1.02% expense ratio, which is higher than KTEC's 0.69% expense ratio.

Dividends

BNDD vs. KTEC - Dividend Comparison

BNDD's dividend yield for the trailing twelve months is around 3.68%, less than KTEC's 3.81% yield.

Position	TTM	2025	2024	2023	2022	2021
BNDD Quadratic Deflation ETF	3.68%	3.82%	3.85%	4.30%	43.17%	1.04%
KTEC KraneShares Hang Seng TECH Index ETF	3.81%	3.36%	0.27%	0.81%	0.16%	0.00%

Frequently Asked Questions

Can I hold both BNDD and KTEC in my portfolio?

BNDD and KTEC have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNDD or KTEC?

KTEC has higher volatility (7.10%) compared to BNDD (2.66%). In terms of maximum drawdown, BNDD dropped -30.87% vs KTEC's -66.90%.

Which ETF is better, BNDD or KTEC?

On 3-year performance, KTEC leads with 1.38% vs -3.62% for BNDD. On fees, KTEC is cheaper at 0.69% per year. On volatility, BNDD has been the lower-risk option at 2.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNDD or KTEC?

Over the 3-year period, KTEC has performed better with a 1.38% return vs -3.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNDD or KTEC?

KTEC is cheaper with a 0.69% expense ratio, compared with 1.02% for BNDD.

Which ETF pays a higher dividend yield, BNDD or KTEC?

KTEC has the higher dividend yield at 3.81%, compared with 3.68% for BNDD.

What is the main difference between BNDD and KTEC?

BNDD is categorized as Government Bonds, while KTEC is China Equities. Their fees differ too: 1.02% for BNDD and 0.69% for KTEC.

Which has better risk-adjusted returns?

BNDD currently has the higher Sharpe Ratio (0.07 vs -0.48), 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.