CAS vs. KCAI

Last updated Aug 2, 2026

CAS (Simplify China A Shares PLUS Income ETF) and KCAI (KraneShares China Alpha Index ETF) are both China Equities funds. CAS is actively managed, while KCAI is passively managed. Their 0.48 correlation means their historical movements had little consistent relationship. CAS charges 0.88%/yr vs 0.79%/yr for KCAI.

Performance

CAS vs. KCAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify China A Shares PLUS Income ETF (CAS) and KraneShares China Alpha Index ETF (KCAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CAS

• 1D: 1.08%
• 1M: -11.07%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

KCAI

• 1D: -0.50%
• 1M: 4.60%
• 6M: 7.73%
• YTD: 7.38%
• 1Y: 39.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 37.06%

*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)
CAS Simplify China A Shares PLUS Income ETF	$38.47K	$52.48K	$79.55K
KCAI KraneShares China Alpha Index ETF	$42.47K	$26.27K	$160.21K

CAS vs. KCAI - Yearly Performance Comparison

	2026 (YTD)
CAS Simplify China A Shares PLUS Income ETF	-11.11%
KCAI KraneShares China Alpha Index ETF	1.05%

Correlation

The correlation between CAS and KCAI is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.48

CAS vs. KCAI - Sectors Allocation Comparison

Sectors	CAS	KCAI
Financial Services	46.5%	41.3%
Basic Materials	-	11.0%
Communication Services	-	-
Consumer Cyclical	-	9.4%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	1.3%
Industrials	-	20.5%
Real Estate	-	-
Technology	-	17.8%
Utilities	-	-

Return for Risk

CAS vs. KCAI — Risk / Return Rank

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

CAS

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

KCAI

KCAI Risk / Return Rank: 95
KCAI Sharpe Ratio Rank: 95
KCAI Sortino Ratio Rank: 95
KCAI Omega Ratio Rank: 93
KCAI Calmar Ratio Rank: 96
KCAI Martin Ratio Rank: 95

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.

CAS vs. KCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify China A Shares PLUS Income ETF (CAS) and KraneShares China Alpha Index ETF (KCAI). 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.

	CAS	KCAI	Difference
Sharpe ratio: Return per unit of total volatility	—	2.76	—
Sortino ratio: Return per unit of downside risk	—	4.00	—
Omega ratio: Gain probability vs. loss probability	—	1.48	—
Calmar ratio: Return relative to maximum drawdown	—	6.65	—
Martin ratio: Return relative to average drawdown	—	19.83	—

Drawdowns

CAS vs. KCAI - Drawdown Comparison

The maximum CAS drawdown since its inception was -15.89%, smaller than the maximum KCAI drawdown of -25.48%. Use the drawdown chart below to compare losses from any high point for CAS and KCAI.

Drawdown Indicators

	CAS	KCAI	Difference
Max Drawdown Largest peak-to-trough decline	-15.89%	-25.48%	+9.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.90%	—
Current Drawdown Current decline from peak	-14.28%	-1.56%	-12.72%
Average Drawdown Average peak-to-trough decline	-6.19%	-6.83%	+0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.97%	—

Volatility

Volatility by Period

	CAS	KCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.82%	—
Volatility (1Y) Calculated over the trailing 1-year period	33.97%	14.22%	+19.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.97%	20.80%	+13.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.97%	20.80%	+13.17%

CAS vs. KCAI - Expense Ratio Comparison

CAS has a 0.88% expense ratio, which is higher than KCAI's 0.79% expense ratio.

Dividends

CAS vs. KCAI - Dividend Comparison

CAS's dividend yield for the trailing twelve months is around 2.46%, less than KCAI's 32.99% yield.

Position	TTM	2025	2024
CAS Simplify China A Shares PLUS Income ETF	2.46%	0.00%	0.00%
KCAI KraneShares China Alpha Index ETF	32.99%	35.42%	2.19%

Frequently Asked Questions

Can I hold both CAS and KCAI in my portfolio?

CAS and KCAI have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CAS or KCAI?

On fees, KCAI is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAS or KCAI?

KCAI is cheaper with a 0.79% expense ratio, compared with 0.88% for CAS.

Which ETF pays a higher dividend yield, CAS or KCAI?

KCAI has the higher dividend yield at 32.99%, compared with 2.46% for CAS.

What is the main difference between CAS and KCAI?

They also come from different issuers: Simplify and KraneShares. Their fees differ too: 0.88% for CAS and 0.79% for KCAI.