CNYA vs. KLIP
CNYA (iShares MSCI China A ETF) and KLIP (KraneShares China Internet and Covered Call Strategy ETF) are both China Equities funds. CNYA is passively managed, while KLIP is actively managed. Over the past 3 years, CNYA returned 7.23%/yr vs 6.33%/yr for KLIP. Their 0.55 correlation means they have sometimes moved together and sometimes differently. CNYA charges 0.60%/yr vs 0.95%/yr for KLIP.
Performance
CNYA vs. KLIP - Performance Comparison
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Returns By Period
In the year-to-date period, CNYA achieves a 1.42% return, which is significantly higher than KLIP's -6.77% return.
CNYA
- 1D
- -0.48%
- 1M
- -4.50%
- 6M
- 1.02%
- YTD
- 1.42%
- 1Y
- 20.44%
- 3Y*
- 7.23%
- 5Y*
- -1.55%
- 10Y*
- 5.24%
- ALL TIME*
- 5.58%
KLIP
- 1D
- 0.35%
- 1M
- 6.88%
- 6M
- -11.18%
- YTD
- -6.77%
- 1Y
- -3.11%
- 3Y*
- 6.33%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.46M | $2.43M | $4.11M | |
| $647.66K | $581.47K | $1.00M |
CNYA vs. KLIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CNYA iShares MSCI China A ETF | 1.42% | 26.48% | 10.78% | -19.19% |
KLIP KraneShares China Internet and Covered Call Strategy ETF | -6.77% | 16.92% | 3.37% | 11.11% |
Correlation
The correlation between CNYA and KLIP is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.42 |
Correlation (3Y) Balances recent behavior with more history. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023 | 0.55 |
The correlation between CNYA and KLIP shifts across timeframes, from 0.42 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
CNYA vs. KLIP - Sectors Allocation Comparison
Sectors
CNYA
KLIP
Technology
Financial Services
Industrials
-
Basic Materials
-
Consumer Defensive
Consumer Cyclical
Healthcare
Utilities
-
Energy
-
Communication Services
Real Estate
Technology
CNYA
KLIP
Financial Services
CNYA
KLIP
Industrials
CNYA
KLIP
-
Basic Materials
CNYA
KLIP
-
Consumer Defensive
CNYA
KLIP
Consumer Cyclical
CNYA
KLIP
Healthcare
CNYA
KLIP
Utilities
CNYA
KLIP
-
Energy
CNYA
KLIP
-
Communication Services
CNYA
KLIP
Real Estate
CNYA
KLIP
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Return for Risk
CNYA vs. KLIP — Risk / Return Rank
CNYA
KLIP
CNYA vs. KLIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China A ETF (CNYA) and KraneShares China Internet and Covered Call Strategy ETF (KLIP). 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.
| CNYA | KLIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.98 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | -0.15 | +2.12 |
| Martin ratioReturn relative to average drawdown | 5.71 | -0.34 | +6.05 |
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Drawdowns
CNYA vs. KLIP - Drawdown Comparison
The maximum CNYA drawdown since its inception was -49.49%, which is greater than KLIP's maximum drawdown of -21.48%. Use the drawdown chart below to compare losses from any high point for CNYA and KLIP.
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Drawdown Indicators
| CNYA | KLIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.49% | -21.48% | -28.01% |
Max Drawdown (1Y)Largest decline over 1 year | -10.37% | -21.48% | +11.11% |
Max Drawdown (3Y)Largest decline over 3 years | -33.35% | -21.48% | -11.87% |
Max Drawdown (5Y)Largest decline over 5 years | -44.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.49% | — | — |
Current DrawdownCurrent decline from peak | -19.65% | -12.12% | -7.53% |
Average DrawdownAverage peak-to-trough decline | -20.61% | -4.33% | -16.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 9.22% | -5.64% |
Volatility
CNYA vs. KLIP - Volatility Comparison
iShares MSCI China A ETF (CNYA) has a higher volatility of 8.01% compared to KraneShares China Internet and Covered Call Strategy ETF (KLIP) at 2.37%. This indicates that CNYA's price experiences larger fluctuations and is considered to be riskier than KLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNYA | KLIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.01% | 2.37% | +5.64% |
Volatility (6M)Calculated over the trailing 6-month period | 15.84% | 12.99% | +2.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.22% | 16.60% | +3.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.88% | 17.98% | +5.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.63% | 17.98% | +5.65% |
CNYA vs. KLIP - Expense Ratio Comparison
CNYA has a 0.60% expense ratio, which is lower than KLIP's 0.95% expense ratio.
Dividends
CNYA vs. KLIP - Dividend Comparison
CNYA's dividend yield for the trailing twelve months is around 1.85%, less than KLIP's 27.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CNYA iShares MSCI China A ETF | 1.85% | 1.92% | 2.51% | 4.23% | 2.69% | 1.11% | 1.06% | 1.21% | 3.92% | 0.97% | 1.38% |
KLIP KraneShares China Internet and Covered Call Strategy ETF | 27.54% | 25.14% | 54.26% | 61.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CNYA and KLIP have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNYA has higher volatility (8.01%) compared to KLIP (2.37%). In terms of maximum drawdown, CNYA dropped -49.49% vs KLIP's -21.48%.
On 3-year performance, CNYA leads with 7.23% vs 6.33% for KLIP. On fees, CNYA is cheaper at 0.60% per year. On volatility, KLIP has been the lower-risk option at 2.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CNYA has performed better with a 7.23% return vs 6.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CNYA is cheaper with a 0.60% expense ratio, compared with 0.95% for KLIP.
KLIP has the higher dividend yield at 27.54%, compared with 1.85% for CNYA.
They also come from different issuers: iShares and KraneShares. Their fees differ too: 0.60% for CNYA and 0.95% for KLIP.
CNYA currently has the higher Sharpe Ratio (1.02 vs -0.19), 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.
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