CHIQ vs. KWEB

Last updated Jul 28, 2026

CHIQ (Global X MSCI China Consumer Discretionary ETF) and KWEB (KraneShares CSI China Internet ETF) are both China Equities funds - CHIQ tracks the MSCI China Consumer Discretionary 10/50 Index while KWEB tracks the CSI Overseas China Internet Index. Both are passively managed. Over the past 10 years, CHIQ returned 5.99%/yr vs -0.15%/yr for KWEB. Their correlation of 0.86 means they have usually moved in the same direction. CHIQ charges 0.65%/yr vs 0.70%/yr for KWEB.

Performance

CHIQ vs. KWEB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI China Consumer Discretionary ETF (CHIQ) and KraneShares CSI China Internet ETF (KWEB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CHIQ achieves a -16.17% return, which is significantly higher than KWEB's -19.79% return. Over the past 10 years, CHIQ has outperformed KWEB with an annualized return of 5.99%, while KWEB has yielded a comparatively lower -0.15% annualized return.

CHIQ

• 1D: 2.25%
• 1M: 12.68%
• 6M: -16.78%
• YTD: -16.17%
• 1Y: -19.21%
• 3Y*: -3.74%
• 5Y*: -8.62%
• 10Y*: 5.99%
• ALL TIME*: 1.92%

KWEB

• 1D: 1.15%
• 1M: 14.08%
• 6M: -23.93%
• YTD: -19.79%
• 1Y: -19.52%
• 3Y*: -1.34%
• 5Y*: -8.78%
• 10Y*: -0.15%
• ALL TIME*: 2.32%

*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)
CHIQ Global X MSCI China Consumer Discretionary ETF	$1.05M	$805.38K	$800.46K
KWEB KraneShares CSI China Internet ETF	$572.45M	$561.50M	$686.88M

CHIQ vs. KWEB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CHIQ Global X MSCI China Consumer Discretionary ETF	-16.17%	13.69%	10.74%	-10.70%	-22.01%	-27.07%	92.61%	44.19%	-28.65%	67.74%
KWEB KraneShares CSI China Internet ETF	-19.79%	23.55%	12.01%	-9.06%	-17.24%	-49.01%	58.23%	29.92%	-33.80%	69.73%

Correlation

The correlation between CHIQ and KWEB is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Aug 1, 2013	0.86

The correlation between CHIQ and KWEB has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

CHIQ vs. KWEB - Sectors Allocation Comparison

Sectors	CHIQ	KWEB
Consumer Cyclical	94.5%	35.7%
Consumer Defensive	3.5%	2.8%
Real Estate	0.4%	4.1%
Technology	0.3%	11.7%
Industrials	0.3%	4.4%
Basic Materials	-	-
Communication Services	-	33.3%
Energy	-	-
Financial Services	-	1.7%
Healthcare	-	5.9%
Utilities	-	-

Return for Risk

CHIQ vs. KWEB — Risk / Return Rank

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

CHIQ

CHIQ Risk / Return Rank: 4
CHIQ Sharpe Ratio Rank: 3
CHIQ Sortino Ratio Rank: 3
CHIQ Omega Ratio Rank: 4
CHIQ Calmar Ratio Rank: 5
CHIQ Martin Ratio Rank: 4

KWEB

KWEB Risk / Return Rank: 5
KWEB Sharpe Ratio Rank: 4
KWEB Sortino Ratio Rank: 4
KWEB Omega Ratio Rank: 4
KWEB Calmar Ratio Rank: 6
KWEB Martin Ratio Rank: 6

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.

CHIQ vs. KWEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI China Consumer Discretionary ETF (CHIQ) and KraneShares CSI China Internet ETF (KWEB). 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.

	CHIQ	KWEB	Difference
Sharpe ratio: Return per unit of total volatility	-0.83	-0.71	-0.13
Sortino ratio: Return per unit of downside risk	-1.12	-0.91	-0.21
Omega ratio: Gain probability vs. loss probability	0.88	0.90	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.54	-0.47	-0.07
Martin ratio: Return relative to average drawdown	-1.17	-0.90	-0.27

CHIQ vs. KWEB - Sharpe Ratio Comparison

The current CHIQ Sharpe Ratio is -0.83, which is comparable to the KWEB Sharpe Ratio of -0.71. The chart below compares the historical Sharpe Ratios of CHIQ and KWEB, 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

CHIQ vs. KWEB - Drawdown Comparison

The maximum CHIQ drawdown since its inception was -67.04%, smaller than the maximum KWEB drawdown of -80.92%. Use the drawdown chart below to compare losses from any high point for CHIQ and KWEB.

Drawdown Indicators

	CHIQ	KWEB	Difference
Max Drawdown Largest peak-to-trough decline	-67.04%	-80.92%	+13.88%
Max Drawdown (1Y) Largest decline over 1 year	-35.53%	-41.62%	+6.09%
Max Drawdown (3Y) Largest decline over 3 years	-35.53%	-41.62%	+6.09%
Max Drawdown (5Y) Largest decline over 5 years	-54.89%	-63.96%	+9.07%
Max Drawdown (10Y) Largest decline over 10 years	-67.04%	-80.92%	+13.88%
Current Drawdown Current decline from peak	-56.02%	-68.41%	+12.39%
Average Drawdown Average peak-to-trough decline	-30.84%	-35.62%	+4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.46%	21.73%	-5.27%

Volatility

CHIQ vs. KWEB - Volatility Comparison

The current volatility for Global X MSCI China Consumer Discretionary ETF (CHIQ) is 6.79%, while KraneShares CSI China Internet ETF (KWEB) has a volatility of 7.93%. This indicates that CHIQ experiences smaller price fluctuations and is considered to be less risky than KWEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHIQ	KWEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.79%	7.93%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	16.55%	20.51%	-3.96%
Volatility (1Y) Calculated over the trailing 1-year period	23.15%	27.76%	-4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.49%	47.01%	-9.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.46%	40.05%	-7.59%

CHIQ vs. KWEB - Expense Ratio Comparison

CHIQ has a 0.65% expense ratio, which is lower than KWEB's 0.70% expense ratio.

Dividends

CHIQ vs. KWEB - Dividend Comparison

CHIQ's dividend yield for the trailing twelve months is around 1.61%, less than KWEB's 7.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHIQ Global X MSCI China Consumer Discretionary ETF	1.61%	1.48%	2.65%	2.26%	0.38%	0.00%	0.11%	1.05%	2.71%	0.62%	1.51%	4.86%
KWEB KraneShares CSI China Internet ETF	7.68%	6.16%	3.51%	1.71%	0.00%	7.07%	0.29%	0.08%	3.40%	0.58%	1.19%	0.46%

Frequently Asked Questions

Can I hold both CHIQ and KWEB in my portfolio?

CHIQ and KWEB have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHIQ or KWEB?

KWEB has higher volatility (7.93%) compared to CHIQ (6.79%). In terms of maximum drawdown, CHIQ dropped -67.04% vs KWEB's -80.92%.

Which ETF is better, CHIQ or KWEB?

On 10-year performance, CHIQ leads with 5.99% vs -0.15% for KWEB. On fees, CHIQ is cheaper at 0.65% per year. On volatility, CHIQ has been the lower-risk option at 6.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHIQ or KWEB?

Over the 10-year period, CHIQ has performed better with a 5.99% return vs -0.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHIQ or KWEB?

CHIQ is cheaper with a 0.65% expense ratio, compared with 0.70% for KWEB.

Which ETF pays a higher dividend yield, CHIQ or KWEB?

KWEB has the higher dividend yield at 7.68%, compared with 1.61% for CHIQ.

What is the main difference between CHIQ and KWEB?

CHIQ tracks MSCI China Consumer Discretionary 10/50 Index, while KWEB tracks CSI Overseas China Internet Index. They also come from different issuers: Global X and KraneShares. Their fees differ too: 0.65% for CHIQ and 0.70% for KWEB.

Which has better risk-adjusted returns?

KWEB currently has the higher Sharpe Ratio (-0.71 vs -0.83), 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.