CHIP.L vs. KSTR.L

Last updated Jul 18, 2026

CHIP.L (ICBC Credit Suisse WisdomTree S&P China 500 UCITS ETF Class B USD Inc) and KSTR.L (KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF USD (Acc)) are both China Equities funds - CHIP.L tracks the MSCI China NR USD while KSTR.L tracks the SSE Science and Technology Innovation Board 50 Index. Both are passively managed. Over the past 5 years, CHIP.L returned -2.24%/yr vs -0.98%/yr for KSTR.L. A 0.64 correlation means they provide meaningful diversification when combined. CHIP.L charges 0.55%/yr vs 0.82%/yr for KSTR.L.

Performance

CHIP.L vs. KSTR.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in ICBC Credit Suisse WisdomTree S&P China 500 UCITS ETF Class B USD Inc (CHIP.L) and KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF USD (Acc) (KSTR.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CHIP.L is traded in GBp, while KSTR.L is traded in USD. To make them comparable, the KSTR.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, CHIP.L achieves a -1.99% return, which is significantly lower than KSTR.L's 33.32% return.

CHIP.L

• 1D: -3.16%
• 1M: -7.21%
• 6M: -5.98%
• YTD: -1.99%
• 1Y: 14.44%
• 3Y*: 9.33%
• 5Y*: -2.24%
• 10Y*: —

KSTR.L

• 1D: -5.47%
• 1M: -8.15%
• 6M: 16.44%
• YTD: 33.32%
• 1Y: 79.44%
• 3Y*: 17.96%
• 5Y*: -0.98%
• 10Y*: —

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

CHIP.L vs. KSTR.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CHIP.L ICBC Credit Suisse WisdomTree S&P China 500 UCITS ETF Class B USD Inc	-1.99%	23.24%	16.52%	-18.44%	-17.13%	1,024.38%
KSTR.L KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF USD (Acc)	33.32%	32.59%	7.07%	-22.86%	-30.81%	7.24%

Correlation

The correlation between CHIP.L and KSTR.L is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.64

The correlation between CHIP.L and KSTR.L has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.

Return for Risk

CHIP.L vs. KSTR.L — Risk / Return Rank

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

CHIP.L

CHIP.L Risk / Return Rank: 29
CHIP.L Sharpe Ratio Rank: 28
CHIP.L Sortino Ratio Rank: 26
CHIP.L Omega Ratio Rank: 26
CHIP.L Calmar Ratio Rank: 34
CHIP.L Martin Ratio Rank: 33

KSTR.L

KSTR.L Risk / Return Rank: 78
KSTR.L Sharpe Ratio Rank: 81
KSTR.L Sortino Ratio Rank: 72
KSTR.L Omega Ratio Rank: 77
KSTR.L Calmar Ratio Rank: 84
KSTR.L Martin Ratio Rank: 76

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.

CHIP.L vs. KSTR.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ICBC Credit Suisse WisdomTree S&P China 500 UCITS ETF Class B USD Inc (CHIP.L) and KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF USD (Acc) (KSTR.L). 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.

	CHIP.L	KSTR.L	Difference
Sharpe ratio: Return per unit of total volatility	0.78	1.94	-1.16
Sortino ratio: Return per unit of downside risk	1.13	2.43	-1.30
Omega ratio: Gain probability vs. loss probability	1.15	1.34	-0.19
Calmar ratio: Return relative to maximum drawdown	1.36	3.20	-1.84
Martin ratio: Return relative to average drawdown	3.80	10.66	-6.87

CHIP.L vs. KSTR.L - Sharpe Ratio Comparison

The current CHIP.L Sharpe Ratio is 0.78, which is lower than the KSTR.L Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of CHIP.L and KSTR.L, 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

CHIP.L vs. KSTR.L - Drawdown Comparison

The maximum CHIP.L drawdown since its inception was -98.71%, which is greater than KSTR.L's maximum drawdown of -65.22%. Use the drawdown chart below to compare losses from any high point for CHIP.L and KSTR.L.

Drawdown Indicators

	CHIP.L	KSTR.L	Difference
Max Drawdown Largest peak-to-trough decline	-98.71%	-65.22%	-33.49%
Max Drawdown (1Y) Largest decline over 1 year	-10.58%	-24.67%	+14.09%
Max Drawdown (3Y) Largest decline over 3 years	-22.62%	-38.63%	+16.01%
Max Drawdown (5Y) Largest decline over 5 years	-43.46%	-65.22%	+21.76%
Current Drawdown Current decline from peak	-13.11%	-24.67%	+11.56%
Average Drawdown Average peak-to-trough decline	-15.72%	-35.63%	+19.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	7.43%	-3.63%

Volatility

CHIP.L vs. KSTR.L - Volatility Comparison

The current volatility for ICBC Credit Suisse WisdomTree S&P China 500 UCITS ETF Class B USD Inc (CHIP.L) is 7.14%, while KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF USD (Acc) (KSTR.L) has a volatility of 19.75%. This indicates that CHIP.L experiences smaller price fluctuations and is considered to be less risky than KSTR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHIP.L	KSTR.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.14%	19.75%	-12.61%
Volatility (6M) Calculated over the trailing 6-month period	12.92%	33.85%	-20.93%
Volatility (1Y) Calculated over the trailing 1-year period	18.47%	40.68%	-22.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.15%	33.90%	-10.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3,428.78%	33.83%	+3,394.95%

CHIP.L vs. KSTR.L - Expense Ratio Comparison

CHIP.L has a 0.55% expense ratio, which is lower than KSTR.L's 0.82% expense ratio.

Dividends

CHIP.L vs. KSTR.L - Dividend Comparison

Neither CHIP.L nor KSTR.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
CHIP.L ICBC Credit Suisse WisdomTree S&P China 500 UCITS ETF Class B USD Inc	0.00%	0.00%	0.00%	0.00%	0.00%	97.50%
KSTR.L KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CHIP.L and KSTR.L in my portfolio?

CHIP.L and KSTR.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CHIP.L or KSTR.L?

On fees, CHIP.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CHIP.L or KSTR.L?

CHIP.L is cheaper with a 0.55% expense ratio, compared with 0.82% for KSTR.L.

What is the main difference between CHIP.L and KSTR.L?

CHIP.L tracks MSCI China NR USD, while KSTR.L tracks SSE Science and Technology Innovation Board 50 Index. They also come from different issuers: ICBC Credit Suisse Asset Management and KraneShares. Their fees differ too: 0.55% for CHIP.L and 0.82% for KSTR.L.