CRBN vs. KRBN
CRBN (iShares MSCI ACWI Low Carbon Target ETF) and KRBN (KraneShares Global Carbon ETF) are both exchange-traded funds - CRBN is a Large Cap Growth Equities fund tracking the MSCI ACWI Low Carbon Target Index, while KRBN is a Commodities fund tracking the IHS Markit Global Carbon Index. Both are passively managed. Over the past 5 years, CRBN returned 10.57%/yr vs 5.90%/yr for KRBN. At a 0.24 correlation, their price movements are largely independent. CRBN charges 0.20%/yr vs 0.79%/yr for KRBN.
Performance
CRBN vs. KRBN - Performance Comparison
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Returns By Period
In the year-to-date period, CRBN achieves a 8.70% return, which is significantly higher than KRBN's -5.96% return.
CRBN
- 1D
- -2.26%
- 1M
- -0.57%
- YTD
- 8.70%
- 6M
- 8.00%
- 1Y
- 23.95%
- 3Y*
- 20.07%
- 5Y*
- 10.57%
- 10Y*
- 12.97%
KRBN
- 1D
- -1.71%
- 1M
- 3.12%
- YTD
- -5.96%
- 6M
- -6.23%
- 1Y
- 11.29%
- 3Y*
- 0.32%
- 5Y*
- 5.90%
- 10Y*
- —
CRBN vs. KRBN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CRBN iShares MSCI ACWI Low Carbon Target ETF | 8.70% | 21.85% | 19.29% | 22.31% | -19.12% | 18.82% | 16.71% |
KRBN KraneShares Global Carbon ETF | -5.96% | 23.11% | -13.56% | 8.01% | -12.75% | 107.69% | 25.03% |
Correlation
The correlation between CRBN and KRBN is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 2020 | 0.24 |
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Return for Risk
CRBN vs. KRBN — Risk / Return Rank
CRBN
KRBN
CRBN vs. KRBN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI Low Carbon Target ETF (CRBN) and KraneShares Global Carbon ETF (KRBN). 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.
| CRBN | KRBN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.12 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 0.45 | +1.93 |
| Martin ratioReturn relative to average drawdown | 10.28 | 1.16 | +9.12 |
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Drawdowns
CRBN vs. KRBN - Drawdown Comparison
The maximum CRBN drawdown since its inception was -33.13%, smaller than the maximum KRBN drawdown of -36.42%. Use the drawdown chart below to compare losses from any high point for CRBN and KRBN.
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Drawdown Indicators
| CRBN | KRBN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.13% | -36.42% | +3.29% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -24.98% | +14.90% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -27.34% | +10.74% |
Max Drawdown (5Y)Largest decline over 5 years | -27.04% | -36.42% | +9.38% |
Max Drawdown (10Y)Largest decline over 10 years | -33.13% | — | — |
Current DrawdownCurrent decline from peak | -2.81% | -14.28% | +11.47% |
Average DrawdownAverage peak-to-trough decline | -5.19% | -16.12% | +10.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.34% | 9.78% | -7.44% |
Volatility
CRBN vs. KRBN - Volatility Comparison
iShares MSCI ACWI Low Carbon Target ETF (CRBN) and KraneShares Global Carbon ETF (KRBN) have volatilities of 5.39% and 5.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRBN | KRBN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.39% | 5.38% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 11.55% | 16.90% | -5.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.81% | 19.17% | -5.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.23% | 28.06% | -11.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.88% | 28.56% | -11.68% |
CRBN vs. KRBN - Expense Ratio Comparison
CRBN has a 0.20% expense ratio, which is lower than KRBN's 0.79% expense ratio.
Dividends
CRBN vs. KRBN - Dividend Comparison
CRBN's dividend yield for the trailing twelve months is around 2.05%, more than KRBN's 2.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRBN iShares MSCI ACWI Low Carbon Target ETF | 2.05% | 2.21% | 1.94% | 2.01% | 1.95% | 1.57% | 1.41% | 2.27% | 2.51% | 2.05% | 2.27% | 2.01% |
KRBN KraneShares Global Carbon ETF | 2.02% | 1.90% | 7.10% | 7.60% | 22.91% | 0.49% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CRBN and KRBN have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CRBN has higher volatility (5.39%) compared to KRBN (5.38%). In terms of maximum drawdown, CRBN dropped -33.13% vs KRBN's -36.42%.
On 5-year performance, CRBN leads with 10.57% vs 5.90% for KRBN. On fees, CRBN is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CRBN has performed better with a 10.57% return vs 5.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CRBN is cheaper with a 0.20% expense ratio, compared with 0.79% for KRBN.
CRBN has the higher dividend yield at 2.05%, compared with 2.02% for KRBN.
CRBN is categorized as Large Cap Growth Equities, while KRBN is Commodities. CRBN tracks MSCI ACWI Low Carbon Target Index, while KRBN tracks IHS Markit Global Carbon Index. They also come from different issuers: iShares and CICC. Their fees differ too: 0.20% for CRBN and 0.79% for KRBN.
CRBN currently has the higher Sharpe Ratio (1.75 vs 0.59), 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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