DIDIY vs. KWEB

Last updated Jun 3, 2026

DIDIY (Didi Global Inc ADR) is a stock, while KWEB (KraneShares CSI China Internet ETF) is China Equities fund tracking the CSI Overseas China Internet. Over the past 3 years, DIDIY returned 11.13%/yr vs 4.05%/yr for KWEB. At a 0.42 correlation, their price movements are largely independent.

Performance

DIDIY vs. KWEB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Didi Global Inc ADR (DIDIY) 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, DIDIY achieves a -27.48% return, which is significantly lower than KWEB's -20.06% return.

DIDIY

• 1D: 6.37%
• 1M: 6.67%
• YTD: -27.48%
• 6M: -31.98%
• 1Y: -18.35%
• 3Y*: 11.13%
• 5Y*: —
• 10Y*: —

KWEB

• 1D: -3.92%
• 1M: -4.79%
• YTD: -20.06%
• 6M: -22.24%
• 1Y: -12.78%
• 3Y*: 4.05%
• 5Y*: -14.28%
• 10Y*: 0.02%

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

DIDIY vs. KWEB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DIDIY Didi Global Inc ADR	-27.48%	15.54%	15.70%	24.21%	-13.35%
KWEB KraneShares CSI China Internet ETF	-20.06%	23.55%	12.01%	-9.06%	0.94%

Correlation

The correlation between DIDIY and KWEB is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (All Time) Calculated using the full available price history since Dec 27, 2022	0.42

Return for Risk

DIDIY vs. KWEB — Risk / Return Rank

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

DIDIY

DIDIY Risk / Return Rank: 26
DIDIY Sharpe Ratio Rank: 24
DIDIY Sortino Ratio Rank: 24
DIDIY Omega Ratio Rank: 25
DIDIY Calmar Ratio Rank: 29
DIDIY Martin Ratio Rank: 30

KWEB

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

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.

DIDIY vs. KWEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Didi Global Inc ADR (DIDIY) 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.

	DIDIY	KWEB	Difference
Sharpe ratio Return per unit of total volatility	-0.38	-0.47	+0.09
Sortino ratio Return per unit of downside risk	-0.25	-0.52	+0.27
Omega ratio Gain probability vs. loss probability	0.97	0.94	+0.03
Calmar ratio Return relative to maximum drawdown	-0.32	-0.38	+0.05
Martin ratio Return relative to average drawdown	-0.59	-0.76	+0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIDIY vs. KWEB - Sharpe Ratio Comparison

The current DIDIY Sharpe Ratio is -0.38, which is comparable to the KWEB Sharpe Ratio of -0.47. The chart below compares the historical Sharpe Ratios of DIDIY 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.

Sharpe Ratios by Period

	DIDIY	KWEB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.38	-0.47	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.30	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.00	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.06	-0.04

Drawdowns

DIDIY vs. KWEB - Drawdown Comparison

The maximum DIDIY drawdown since its inception was -51.08%, smaller than the maximum KWEB drawdown of -80.92%. Use the drawdown chart below to compare losses from any high point for DIDIY and KWEB.

Drawdown Indicators

	DIDIY	KWEB	Difference
Max Drawdown Largest peak-to-trough decline	-51.08%	-80.92%	+29.84%
Max Drawdown (1Y) Largest decline over 1 year	-51.08%	-34.13%	-16.95%
Max Drawdown (3Y) Largest decline over 3 years	-51.08%	-34.13%	-16.95%
Max Drawdown (5Y) Largest decline over 5 years	—	-72.17%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-80.92%	—
Current Drawdown Current decline from peak	-45.06%	-68.52%	+23.46%
Average Drawdown Average peak-to-trough decline	-20.25%	-35.24%	+14.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.93%	16.85%	+11.08%

Volatility

DIDIY vs. KWEB - Volatility Comparison

Didi Global Inc ADR (DIDIY) has a higher volatility of 14.38% compared to KraneShares CSI China Internet ETF (KWEB) at 11.52%. This indicates that DIDIY'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.

Volatility by Period

	DIDIY	KWEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.38%	11.52%	+2.86%
Volatility (6M) Calculated over the trailing 6-month period	30.39%	20.11%	+10.28%
Volatility (1Y) Calculated over the trailing 1-year period	48.66%	27.25%	+21.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.43%	47.67%	+3.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.43%	39.99%	+11.44%

Dividends

DIDIY vs. KWEB - Dividend Comparison

DIDIY has not paid dividends to shareholders, while KWEB's dividend yield for the trailing twelve months is around 7.70%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIDIY Didi Global Inc ADR	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KWEB KraneShares CSI China Internet ETF	7.70%	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 DIDIY and KWEB in my portfolio?

DIDIY and KWEB have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIDIY or KWEB?

DIDIY has higher volatility (14.38%) compared to KWEB (11.52%). In terms of maximum drawdown, DIDIY dropped -51.08% vs KWEB's -80.92%.

Which has better risk-adjusted returns?

DIDIY currently has the higher Sharpe Ratio (-0.38 vs -0.47), 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.