CWEB vs. KTEC

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) and KraneShares Hang Seng TECH Index ETF (KTEC).

CWEB and KTEC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CWEB is a passively managed fund by Direxion that tracks the performance of the CSI China Overseas Internet Index (200%). It was launched on Nov 2, 2016. KTEC is a passively managed fund by KraneShares that tracks the performance of the Hang Seng Tech Index. It was launched on Jun 8, 2021. Both CWEB and KTEC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CWEB vs. KTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) and KraneShares Hang Seng TECH Index ETF (KTEC). The values are adjusted to include any dividend payments, if applicable.

CWEB vs. KTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares	-32.69%	29.04%	0.12%	-32.85%	-59.43%	-72.05%
KTEC KraneShares Hang Seng TECH Index ETF	-12.39%	21.01%	16.13%	-10.41%	-26.12%	-29.50%

Returns By Period

In the year-to-date period, CWEB achieves a -32.69% return, which is significantly lower than KTEC's -12.39% return.

CWEB

• 1D: 5.19%
• 1M: -17.05%
• YTD: -32.69%
• 6M: -51.81%
• 1Y: -35.59%
• 3Y*: -16.49%
• 5Y*: -45.09%
• 10Y*: —

KTEC

• 1D: 2.85%
• 1M: -4.99%
• YTD: -12.39%
• 6M: -25.44%
• 1Y: -12.67%
• 3Y*: 2.84%
• 5Y*: —
• 10Y*: —

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

CWEB vs. KTEC - Expense Ratio Comparison

CWEB has a 1.30% expense ratio, which is higher than KTEC's 0.69% expense ratio.

CWEB

Direxion Daily CSI China Internet Index Bull 2x Shares

KTEC

KraneShares Hang Seng TECH Index ETF

Return for Risk

CWEB vs. KTEC — Risk / Return Rank

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

CWEB

CWEB Risk / Return Rank: 3
CWEB Sharpe Ratio Rank: 3
CWEB Sortino Ratio Rank: 3
CWEB Omega Ratio Rank: 3
CWEB Calmar Ratio Rank: 2
CWEB Martin Ratio Rank: 1

KTEC

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

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.

CWEB vs. KTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) and KraneShares Hang Seng TECH Index ETF (KTEC). 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.

	CWEB	KTEC	Difference
Sharpe ratio Return per unit of total volatility	-0.61	-0.41	-0.20
Sortino ratio Return per unit of downside risk	-0.62	-0.39	-0.22
Omega ratio Gain probability vs. loss probability	0.92	0.95	-0.03
Calmar ratio Return relative to maximum drawdown	-0.64	-0.42	-0.22
Martin ratio Return relative to average drawdown	-1.53	-1.00	-0.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CWEB vs. KTEC - Sharpe Ratio Comparison

The current CWEB Sharpe Ratio is -0.61, which is lower than the KTEC Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of CWEB and KTEC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CWEB	KTEC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.61	-0.41	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	-0.25	+0.01

Correlation

The correlation between CWEB and KTEC is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CWEB vs. KTEC - Dividend Comparison

CWEB's dividend yield for the trailing twelve months is around 5.02%, more than KTEC's 3.83% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares	5.02%	2.77%	4.59%	2.63%	0.00%	0.00%	0.00%	0.64%	1.59%	2.98%
KTEC KraneShares Hang Seng TECH Index ETF	3.83%	3.36%	0.27%	0.81%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

CWEB vs. KTEC - Drawdown Comparison

The maximum CWEB drawdown since its inception was -98.09%, which is greater than KTEC's maximum drawdown of -66.90%. Use the drawdown chart below to compare losses from any high point for CWEB and KTEC.

Drawdown Indicators

	CWEB	KTEC	Difference
Max Drawdown Largest peak-to-trough decline	-98.09%	-66.90%	-31.19%
Max Drawdown (1Y) Largest decline over 1 year	-56.15%	-29.36%	-26.79%
Max Drawdown (5Y) Largest decline over 5 years	-96.62%	—	—
Current Drawdown Current decline from peak	-97.26%	-44.71%	-52.55%
Average Drawdown Average peak-to-trough decline	-64.83%	-43.97%	-20.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.72%	12.39%	+11.33%

Volatility

CWEB vs. KTEC - Volatility Comparison

Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) has a higher volatility of 18.23% compared to KraneShares Hang Seng TECH Index ETF (KTEC) at 9.77%. This indicates that CWEB's price experiences larger fluctuations and is considered to be riskier than KTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CWEB	KTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.23%	9.77%	+8.46%
Volatility (6M) Calculated over the trailing 6-month period	38.34%	19.86%	+18.48%
Volatility (1Y) Calculated over the trailing 1-year period	58.92%	31.06%	+27.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.41%	43.59%	+50.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.97%	43.59%	+37.38%