CWEB vs. KWEB
Compare and contrast key facts about Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) and KraneShares CSI China Internet ETF (KWEB).
CWEB and KWEB 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. KWEB is a passively managed fund by CICC that tracks the performance of the CSI Overseas China Internet. It was launched on Jul 31, 2013. Both CWEB and KWEB 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. KWEB - Performance Comparison
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CWEB vs. KWEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | -33.52% | 29.04% | 0.12% | -32.85% | -59.43% | -79.35% | 116.38% | 51.24% | -63.01% | 166.27% |
KWEB KraneShares CSI China Internet ETF | -16.89% | 23.55% | 12.01% | -9.06% | -17.24% | -49.01% | 58.23% | 29.92% | -33.80% | 69.73% |
Returns By Period
In the year-to-date period, CWEB achieves a -33.52% return, which is significantly lower than KWEB's -16.89% return.
CWEB
- 1D
- -1.23%
- 1M
- -15.96%
- YTD
- -33.52%
- 6M
- -53.39%
- 1Y
- -37.03%
- 3Y*
- -16.84%
- 5Y*
- -45.23%
- 10Y*
- —
KWEB
- 1D
- -0.46%
- 1M
- -7.67%
- YTD
- -16.89%
- 6M
- -29.25%
- 1Y
- -14.27%
- 3Y*
- 0.43%
- 5Y*
- -15.48%
- 10Y*
- -0.00%
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CWEB vs. KWEB - Expense Ratio Comparison
CWEB has a 1.30% expense ratio, which is higher than KWEB's 0.76% expense ratio.
Return for Risk
CWEB vs. KWEB — Risk / Return Rank
CWEB
KWEB
CWEB vs. KWEB - 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 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.
| CWEB | KWEB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.63 | -0.48 | -0.15 |
Sortino ratioReturn per unit of downside risk | -0.67 | -0.52 | -0.15 |
Omega ratioGain probability vs. loss probability | 0.92 | 0.94 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | -0.65 | -0.45 | -0.20 |
Martin ratioReturn relative to average drawdown | -1.52 | -1.15 | -0.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CWEB | KWEB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.63 | -0.48 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.48 | -0.33 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.00 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.24 | 0.07 | -0.31 |
Correlation
The correlation between CWEB and KWEB is 0.99, 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. KWEB - Dividend Comparison
CWEB's dividend yield for the trailing twelve months is around 5.08%, less than KWEB's 7.41% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | 5.08% | 2.77% | 4.59% | 2.63% | 0.00% | 0.00% | 0.00% | 0.64% | 1.59% | 2.98% | 0.00% | 0.00% |
KWEB KraneShares CSI China Internet ETF | 7.41% | 6.16% | 3.51% | 1.71% | 0.00% | 7.07% | 0.29% | 0.08% | 3.40% | 0.58% | 1.19% | 0.46% |
Drawdowns
CWEB vs. KWEB - Drawdown Comparison
The maximum CWEB drawdown since its inception was -98.09%, which is greater than KWEB's maximum drawdown of -80.92%. Use the drawdown chart below to compare losses from any high point for CWEB and KWEB.
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Drawdown Indicators
| CWEB | KWEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.09% | -80.92% | -17.17% |
Max Drawdown (1Y)Largest decline over 1 year | -56.15% | -31.36% | -24.79% |
Max Drawdown (5Y)Largest decline over 5 years | -96.62% | -75.23% | -21.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -80.92% | — |
Current DrawdownCurrent decline from peak | -97.29% | -67.27% | -30.02% |
Average DrawdownAverage peak-to-trough decline | -64.84% | -34.81% | -30.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.96% | 12.20% | +11.76% |
Volatility
CWEB vs. KWEB - Volatility Comparison
Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) has a higher volatility of 17.51% compared to KraneShares CSI China Internet ETF (KWEB) at 8.58%. This indicates that CWEB's price experiences larger fluctuations and is considered to be riskier than KWEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CWEB | KWEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.51% | 8.58% | +8.93% |
Volatility (6M)Calculated over the trailing 6-month period | 38.34% | 19.06% | +19.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.92% | 29.53% | +29.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.37% | 47.62% | +46.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.95% | 39.87% | +41.08% |