BUYO vs. BNDD

Last updated Jul 1, 2026

BUYO (KraneShares Man Buyout Beta Index ETF) and BNDD (Quadratic Deflation ETF) are both exchange-traded funds - BUYO is a Small Cap Blend Equities fund tracking the Man Buyout Beta Index, while BNDD is a Government Bonds fund actively managed by KraneShares. BUYO is passively managed, while BNDD is actively managed. Over the past year, BUYO returned 34.64% vs 4.76% for BNDD. At a 0.21 correlation, their price movements are largely independent. BUYO charges 0.89%/yr vs 1.02%/yr for BNDD.

Performance

BUYO vs. BNDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Man Buyout Beta Index ETF (BUYO) and Quadratic Deflation ETF (BNDD). 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 higher than BNDD's 7.53% return.

BUYO

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

BNDD

• 1D: -0.15%
• 1M: 3.96%
• YTD: 7.53%
• 6M: 6.88%
• 1Y: 4.76%
• 3Y*: -4.49%
• 5Y*: —
• 10Y*: —

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

BUYO vs. BNDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BUYO KraneShares Man Buyout Beta Index ETF	21.28%	10.94%	0.16%
BNDD Quadratic Deflation ETF	7.53%	-8.17%	-5.03%

Correlation

The correlation between BUYO and BNDD is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since Oct 8, 2024	0.21

Return for Risk

BUYO vs. BNDD — 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

BNDD

BNDD Risk / Return Rank: 16
BNDD Sharpe Ratio Rank: 16
BNDD Sortino Ratio Rank: 15
BNDD Omega Ratio Rank: 15
BNDD Calmar Ratio Rank: 19
BNDD Martin Ratio Rank: 17

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. BNDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Man Buyout Beta Index ETF (BUYO) and Quadratic Deflation ETF (BNDD). 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	BNDD	Difference
Sharpe ratio: Return per unit of total volatility	1.92	0.46	+1.47
Sortino ratio: Return per unit of downside risk	2.72	0.71	+2.00
Omega ratio: Gain probability vs. loss probability	1.32	1.09	+0.24
Calmar ratio: Return relative to maximum drawdown	3.45	0.78	+2.67
Martin ratio: Return relative to average drawdown	12.59	1.69	+10.90

BUYO vs. BNDD - Sharpe Ratio Comparison

The current BUYO Sharpe Ratio is 1.92, which is higher than the BNDD Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of BUYO and BNDD, 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

BUYO vs. BNDD - Drawdown Comparison

The maximum BUYO drawdown since its inception was -28.01%, smaller than the maximum BNDD drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for BUYO and BNDD.

Drawdown Indicators

	BUYO	BNDD	Difference
Max Drawdown Largest peak-to-trough decline	-28.01%	-30.87%	+2.86%
Max Drawdown (1Y) Largest decline over 1 year	-10.07%	-6.09%	-3.98%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.75%	—
Current Drawdown Current decline from peak	0.00%	-24.24%	+24.24%
Average Drawdown Average peak-to-trough decline	-5.57%	-19.41%	+13.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.82%	-0.06%

Volatility

BUYO vs. BNDD - Volatility Comparison

KraneShares Man Buyout Beta Index ETF (BUYO) has a higher volatility of 4.98% compared to Quadratic Deflation ETF (BNDD) at 2.54%. This indicates that BUYO's price experiences larger fluctuations and is considered to be riskier than BNDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUYO	BNDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	2.54%	+2.44%
Volatility (6M) Calculated over the trailing 6-month period	13.70%	8.17%	+5.53%
Volatility (1Y) Calculated over the trailing 1-year period	18.08%	10.48%	+7.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.51%	13.32%	+8.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.51%	13.32%	+8.19%

BUYO vs. BNDD - Expense Ratio Comparison

BUYO has a 0.89% expense ratio, which is lower than BNDD's 1.02% expense ratio.

Dividends

BUYO vs. BNDD - Dividend Comparison

BUYO's dividend yield for the trailing twelve months is around 0.01%, less than BNDD's 3.51% yield.

Position	TTM	2025	2024	2023	2022	2021
BNDD Quadratic Deflation ETF	3.51%	3.82%	3.85%	4.30%	43.17%	1.04%
BUYO KraneShares Man Buyout Beta Index ETF	0.01%	0.01%	0.04%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BUYO and BNDD in my portfolio?

BUYO and BNDD have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUYO or BNDD?

BUYO has higher volatility (4.98%) compared to BNDD (2.54%). In terms of maximum drawdown, BUYO dropped -28.01% vs BNDD's -30.87%.

Which ETF is better, BUYO or BNDD?

On 1-year performance, BUYO leads with 34.64% vs 4.76% for BNDD. On fees, BUYO is cheaper at 0.89% per year. On volatility, BNDD has been the lower-risk option at 2.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUYO or BNDD?

Over the 1-year period, BUYO has performed better with a 34.64% return vs 4.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUYO or BNDD?

BUYO is cheaper with a 0.89% expense ratio, compared with 1.02% for BNDD.

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

BNDD has the higher dividend yield at 3.51%, compared with 0.01% for BUYO.

What is the main difference between BUYO and BNDD?

BUYO is categorized as Small Cap Blend Equities, while BNDD is Government Bonds. Their fees differ too: 0.89% for BUYO and 1.02% for BNDD.

Which has better risk-adjusted returns?

BUYO currently has the higher Sharpe Ratio (1.92 vs 0.46), 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.