ECNS vs. KSTR

Last updated Jul 17, 2026

ECNS (iShares MSCI China Small-Cap ETF) and KSTR (KraneShares SSE STAR Market 50 Index ETF) are both China Equities funds - ECNS tracks the MSCI China Small Cap Index while KSTR tracks the SSE Science and Technology Innovation Board 50 Index. Both are passively managed. Over the past 5 years, ECNS returned -7.86%/yr vs -0.29%/yr for KSTR. A 0.52 correlation means they provide meaningful diversification when combined. ECNS charges 0.59%/yr vs 0.89%/yr for KSTR.

Performance

ECNS vs. KSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI China Small-Cap ETF (ECNS) and KraneShares SSE STAR Market 50 Index ETF (KSTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ECNS achieves a -10.09% return, which is significantly lower than KSTR's 40.25% return.

ECNS

• 1D: 0.55%
• 1M: -3.75%
• 6M: -16.01%
• YTD: -10.09%
• 1Y: -8.73%
• 3Y*: 5.03%
• 5Y*: -7.86%
• 10Y*: 1.06%

KSTR

• 1D: -4.74%
• 1M: 3.16%
• 6M: 23.81%
• YTD: 40.25%
• 1Y: 91.35%
• 3Y*: 21.62%
• 5Y*: -0.29%
• 10Y*: —

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

ECNS vs. KSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ECNS iShares MSCI China Small-Cap ETF	-10.09%	36.49%	5.64%	-23.05%	-24.58%	-12.68%
KSTR KraneShares SSE STAR Market 50 Index ETF	40.25%	42.82%	6.12%	-17.93%	-38.51%	-2.01%

Correlation

The correlation between ECNS and KSTR is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021	0.52

The correlation between ECNS and KSTR has been stable across timeframes, ranging from 0.47 to 0.56 - a consistent structural relationship.

ECNS vs. KSTR - Sectors Allocation Comparison

Sectors	ECNS	KSTR
Industrials	21.9%	6.6%
Healthcare	20.5%	5.7%
Technology	11.6%	86.3%
Basic Materials	8.9%	0.6%
Real Estate	7.8%	-
Consumer Cyclical	7.5%	0.9%
Communication Services	6.0%	-
Financial Services	5.3%	-
Consumer Defensive	4.1%	-
Energy	2.4%	0.9%
Utilities	1.5%	-

Return for Risk

ECNS vs. KSTR — Risk / Return Rank

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

ECNS

ECNS Risk / Return Rank: 6
ECNS Sharpe Ratio Rank: 6
ECNS Sortino Ratio Rank: 6
ECNS Omega Ratio Rank: 5
ECNS Calmar Ratio Rank: 6
ECNS Martin Ratio Rank: 6

KSTR

KSTR Risk / Return Rank: 83
KSTR Sharpe Ratio Rank: 86
KSTR Sortino Ratio Rank: 77
KSTR Omega Ratio Rank: 78
KSTR Calmar Ratio Rank: 92
KSTR Martin Ratio Rank: 80

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.

ECNS vs. KSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Small-Cap ETF (ECNS) and KraneShares SSE STAR Market 50 Index ETF (KSTR). 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.

	ECNS	KSTR	Difference
Sharpe ratio: Return per unit of total volatility	-0.42	2.21	-2.62
Sortino ratio: Return per unit of downside risk	-0.44	2.74	-3.19
Omega ratio: Gain probability vs. loss probability	0.94	1.37	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.34	4.75	-5.09
Martin ratio: Return relative to average drawdown	-0.73	12.14	-12.87

ECNS vs. KSTR - Sharpe Ratio Comparison

The current ECNS Sharpe Ratio is -0.42, which is lower than the KSTR Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of ECNS and KSTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ECNS vs. KSTR - Drawdown Comparison

The maximum ECNS drawdown since its inception was -63.43%, roughly equal to the maximum KSTR drawdown of -66.46%. Use the drawdown chart below to compare losses from any high point for ECNS and KSTR.

Drawdown Indicators

	ECNS	KSTR	Difference
Max Drawdown Largest peak-to-trough decline	-63.43%	-66.46%	+3.03%
Max Drawdown (1Y) Largest decline over 1 year	-25.73%	-19.32%	-6.41%
Max Drawdown (3Y) Largest decline over 3 years	-31.72%	-41.55%	+9.83%
Max Drawdown (5Y) Largest decline over 5 years	-58.03%	-66.31%	+8.28%
Max Drawdown (10Y) Largest decline over 10 years	-63.43%	—	—
Current Drawdown Current decline from peak	-42.13%	-19.32%	-22.81%
Average Drawdown Average peak-to-trough decline	-29.47%	-38.10%	+8.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.92%	7.55%	+4.37%

Volatility

ECNS vs. KSTR - Volatility Comparison

The current volatility for iShares MSCI China Small-Cap ETF (ECNS) is 6.40%, while KraneShares SSE STAR Market 50 Index ETF (KSTR) has a volatility of 21.06%. This indicates that ECNS experiences smaller price fluctuations and is considered to be less risky than KSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ECNS	KSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.40%	21.06%	-14.66%
Volatility (6M) Calculated over the trailing 6-month period	14.01%	33.82%	-19.81%
Volatility (1Y) Calculated over the trailing 1-year period	20.92%	41.64%	-20.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.48%	39.43%	-9.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.80%	38.52%	-12.72%

ECNS vs. KSTR - Expense Ratio Comparison

ECNS has a 0.59% expense ratio, which is lower than KSTR's 0.89% expense ratio.

Dividends

ECNS vs. KSTR - Dividend Comparison

ECNS's dividend yield for the trailing twelve months is around 6.54%, while KSTR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ECNS iShares MSCI China Small-Cap ETF	6.54%	6.20%	5.98%	4.89%	3.54%	4.87%	3.59%	3.23%	6.16%	3.18%	4.29%	3.58%
KSTR KraneShares SSE STAR Market 50 Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ECNS and KSTR in my portfolio?

ECNS and KSTR have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ECNS or KSTR?

KSTR has higher volatility (21.06%) compared to ECNS (6.40%). In terms of maximum drawdown, ECNS dropped -63.43% vs KSTR's -66.46%.

Which ETF is better, ECNS or KSTR?

On 5-year performance, KSTR leads with -0.29% vs -7.86% for ECNS. On fees, ECNS is cheaper at 0.59% per year. On volatility, ECNS has been the lower-risk option at 6.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ECNS or KSTR?

Over the 5-year period, KSTR has performed better with a -0.29% return vs -7.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ECNS or KSTR?

ECNS is cheaper with a 0.59% expense ratio, compared with 0.89% for KSTR.

Which ETF pays a higher dividend yield, ECNS or KSTR?

ECNS has the higher dividend yield at 6.54%, compared with 0.00% for KSTR.

What is the main difference between ECNS and KSTR?

ECNS tracks MSCI China Small Cap Index, while KSTR tracks SSE Science and Technology Innovation Board 50 Index. They also come from different issuers: iShares and KraneShares. Their fees differ too: 0.59% for ECNS and 0.89% for KSTR.

Which has better risk-adjusted returns?

KSTR currently has the higher Sharpe Ratio (2.21 vs -0.42), 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.