BUYO vs. ASCE

Last updated Jul 1, 2026

BUYO (KraneShares Man Buyout Beta Index ETF) and ASCE (Allspring SMID Core ETF) are both Small Cap Blend Equities funds. BUYO is passively managed, while ASCE is actively managed. Their correlation of 0.88 suggests significant overlap in exposure. BUYO charges 0.89%/yr vs 0.38%/yr for ASCE.

Performance

BUYO vs. ASCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Man Buyout Beta Index ETF (BUYO) and Allspring SMID Core ETF (ASCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUYO achieves a 21.28% return, which is significantly lower than ASCE's 30.79% return.

BUYO

• 1D: 1.25%
• 1M: 6.83%
• YTD: 21.28%
• 6M: 20.02%
• 1Y: 34.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASCE

• 1D: 1.51%
• 1M: 7.45%
• YTD: 30.79%
• 6M: 28.30%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BUYO vs. ASCE - Yearly Performance Comparison

	2026 (YTD)	2025
BUYO KraneShares Man Buyout Beta Index ETF	21.28%	9.42%
ASCE Allspring SMID Core ETF	30.79%	8.46%

Correlation

The correlation between BUYO and ASCE is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.88

Return for Risk

BUYO vs. ASCE — Risk / Return Rank

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

BUYO

BUYO Risk / Return Rank: 72
BUYO Sharpe Ratio Rank: 70
BUYO Sortino Ratio Rank: 71
BUYO Omega Ratio Rank: 63
BUYO Calmar Ratio Rank: 78
BUYO Martin Ratio Rank: 77

ASCE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

BUYO vs. ASCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Man Buyout Beta Index ETF (BUYO) and Allspring SMID Core ETF (ASCE). 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.

	BUYO	ASCE	Difference
Sharpe ratio: Return per unit of total volatility	1.92	—	—
Sortino ratio: Return per unit of downside risk	2.72	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	3.45	—	—
Martin ratio: Return relative to average drawdown	12.59	—	—

Drawdowns

BUYO vs. ASCE - Drawdown Comparison

The maximum BUYO drawdown since its inception was -28.01%, which is greater than ASCE's maximum drawdown of -9.22%. Use the drawdown chart below to compare losses from any high point for BUYO and ASCE.

Drawdown Indicators

	BUYO	ASCE	Difference
Max Drawdown Largest peak-to-trough decline	-28.01%	-9.22%	-18.79%
Max Drawdown (1Y) Largest decline over 1 year	-10.07%	—	—
Current Drawdown Current decline from peak	0.00%	-0.37%	+0.37%
Average Drawdown Average peak-to-trough decline	-5.57%	-2.00%	-3.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	—	—

Volatility

Volatility by Period

	BUYO	ASCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.08%	19.65%	-1.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.51%	19.65%	+1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.51%	19.65%	+1.86%

BUYO vs. ASCE - Expense Ratio Comparison

BUYO has a 0.89% expense ratio, which is higher than ASCE's 0.38% expense ratio.

Dividends

BUYO vs. ASCE - Dividend Comparison

BUYO's dividend yield for the trailing twelve months is around 0.01%, less than ASCE's 0.17% yield.

Position	TTM	2025	2024
ASCE Allspring SMID Core ETF	0.17%	0.22%	0.00%
BUYO KraneShares Man Buyout Beta Index ETF	0.01%	0.01%	0.04%

Frequently Asked Questions

Can I hold both BUYO and ASCE in my portfolio?

BUYO and ASCE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BUYO or ASCE?

On fees, ASCE is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BUYO or ASCE?

ASCE is cheaper with a 0.38% expense ratio, compared with 0.89% for BUYO.

Which ETF pays a higher dividend yield, BUYO or ASCE?

ASCE has the higher dividend yield at 0.17%, compared with 0.01% for BUYO.

What is the main difference between BUYO and ASCE?

They also come from different issuers: KraneShares and Allspring. Their fees differ too: 0.89% for BUYO and 0.38% for ASCE.