EPHE vs. KBA

Last updated Aug 2, 2026

EPHE (iShares MSCI Philippines ETF) and KBA (KraneShares Bosera MSCI China A Share ETF) are both exchange-traded funds - EPHE is a Asia Pacific Equities fund tracking the MSCI Philippines Investable Market Index, while KBA is a China Equities fund tracking the MSCI China A Index. Both are passively managed. Over the past 10 years, EPHE returned -2.87%/yr vs 9.42%/yr for KBA. Their 0.27 correlation means their historical movements had little consistent relationship. EPHE charges 0.59%/yr vs 0.60%/yr for KBA.

Performance

EPHE vs. KBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Philippines ETF (EPHE) and KraneShares Bosera MSCI China A Share ETF (KBA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPHE achieves a 4.57% return, which is significantly lower than KBA's 7.15% return. Over the past 10 years, EPHE has underperformed KBA with an annualized return of -2.87%, while KBA has yielded a comparatively higher 9.42% annualized return.

EPHE

• 1D: -0.51%
• 1M: 4.41%
• 6M: 0.35%
• YTD: 4.57%
• 1Y: 1.90%
• 3Y*: 0.76%
• 5Y*: 0.25%
• 10Y*: -2.87%
• ALL TIME*: 1.41%

KBA

• 1D: -0.78%
• 1M: 1.13%
• 6M: 7.50%
• YTD: 7.15%
• 1Y: 34.07%
• 3Y*: 12.68%
• 5Y*: 7.04%
• 10Y*: 9.42%
• ALL TIME*: 9.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EPHE iShares MSCI Philippines ETF	$3.93M	$3.16M	$3.33M
KBA KraneShares Bosera MSCI China A Share ETF	$842.71K	$977.36K	$2.09M

EPHE vs. KBA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPHE iShares MSCI Philippines ETF	4.57%	1.56%	-1.41%	1.27%	-15.87%	-2.23%	-3.95%	8.50%	-17.50%	20.20%
KBA KraneShares Bosera MSCI China A Share ETF	7.15%	33.88%	15.73%	-16.77%	-3.49%	3.17%	41.62%	35.44%	-26.28%	30.69%

Correlation

The correlation between EPHE and KBA is 0.17, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.17
Correlation (3Y) Balances recent behavior with more history.	0.20
Correlation (5Y) Shows whether the relationship held over a longer period.	0.20
Correlation (10Y) Provides a long-term view across more market conditions.	0.28
Correlation (All Time) Calculated using the full available price history since Mar 5, 2014	0.27

The correlation between EPHE and KBA shifts across timeframes, from 0.17 (1 year) to 0.28 (10 years), reflecting how their relationship changes across market environments.

EPHE vs. KBA - Sectors Allocation Comparison

Sectors	EPHE	KBA
Industrials	33.1%	14.4%
Financial Services	19.9%	16.9%
Utilities	12.6%	3.2%
Consumer Cyclical	12.5%	4.1%
Real Estate	10.8%	0.4%
Consumer Defensive	4.7%	5.8%
Communication Services	4.5%	1.2%
Energy	1.1%	2.4%
Basic Materials	0.8%	10.1%
Healthcare	-	4.0%
Technology	-	37.5%

Return for Risk

EPHE vs. KBA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EPHE

EPHE Risk / Return Rank: 14
EPHE Sharpe Ratio Rank: 15
EPHE Sortino Ratio Rank: 14
EPHE Omega Ratio Rank: 14
EPHE Calmar Ratio Rank: 14
EPHE Martin Ratio Rank: 14

KBA

KBA Risk / Return Rank: 76
KBA Sharpe Ratio Rank: 72
KBA Sortino Ratio Rank: 70
KBA Omega Ratio Rank: 69
KBA Calmar Ratio Rank: 91
KBA Martin Ratio Rank: 77

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EPHE vs. KBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Philippines ETF (EPHE) and KraneShares Bosera MSCI China A Share ETF (KBA). 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.

	EPHE	KBA	Difference
Sharpe ratio: Return per unit of total volatility	0.17	1.63	-1.47
Sortino ratio: Return per unit of downside risk	0.39	2.27	-1.88
Omega ratio: Gain probability vs. loss probability	1.05	1.29	-0.24
Calmar ratio: Return relative to maximum drawdown	0.21	4.08	-3.87
Martin ratio: Return relative to average drawdown	0.39	9.76	-9.37

EPHE vs. KBA - Sharpe Ratio Comparison

The current EPHE Sharpe Ratio is 0.17, which is lower than the KBA Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of EPHE and KBA, 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

EPHE vs. KBA - Drawdown Comparison

The maximum EPHE drawdown since its inception was -53.82%, roughly equal to the maximum KBA drawdown of -53.24%. Use the drawdown chart below to compare losses from any high point for EPHE and KBA.

Drawdown Indicators

	EPHE	KBA	Difference
Max Drawdown Largest peak-to-trough decline	-53.82%	-53.24%	-0.58%
Max Drawdown (1Y) Largest decline over 1 year	-15.90%	-8.33%	-7.57%
Max Drawdown (3Y) Largest decline over 3 years	-21.42%	-31.23%	+9.81%
Max Drawdown (5Y) Largest decline over 5 years	-32.96%	-39.76%	+6.80%
Max Drawdown (10Y) Largest decline over 10 years	-51.62%	-45.32%	-6.30%
Current Drawdown Current decline from peak	-30.85%	-6.47%	-24.38%
Average Drawdown Average peak-to-trough decline	-21.09%	-25.53%	+4.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.66%	3.48%	+5.18%

Volatility

EPHE vs. KBA - Volatility Comparison

The current volatility for iShares MSCI Philippines ETF (EPHE) is 4.21%, while KraneShares Bosera MSCI China A Share ETF (KBA) has a volatility of 8.55%. This indicates that EPHE experiences smaller price fluctuations and is considered to be less risky than KBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPHE	KBA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	8.55%	-4.34%
Volatility (6M) Calculated over the trailing 6-month period	15.65%	16.45%	-0.80%
Volatility (1Y) Calculated over the trailing 1-year period	20.34%	20.87%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.37%	27.33%	-8.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.28%	25.49%	-3.21%

EPHE vs. KBA - Expense Ratio Comparison

EPHE has a 0.59% expense ratio, which is lower than KBA's 0.60% expense ratio.

Dividends

EPHE vs. KBA - Dividend Comparison

EPHE's dividend yield for the trailing twelve months is around 2.66%, more than KBA's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPHE iShares MSCI Philippines ETF	2.66%	2.11%	2.32%	2.01%	1.73%	1.05%	0.72%	0.78%	0.45%	0.36%	0.71%	1.03%
KBA KraneShares Bosera MSCI China A Share ETF	1.46%	1.56%	2.18%	2.34%	49.05%	9.07%	0.65%	1.53%	3.77%	1.46%	6.62%	29.08%

Frequently Asked Questions

Can I hold both EPHE and KBA in my portfolio?

EPHE and KBA have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPHE or KBA?

KBA has higher volatility (8.55%) compared to EPHE (4.21%). In terms of maximum drawdown, EPHE dropped -53.82% vs KBA's -53.24%.

Which ETF is better, EPHE or KBA?

On 10-year performance, KBA leads with 9.42% vs -2.87% for EPHE. On fees, EPHE is cheaper at 0.59% per year. On volatility, EPHE has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPHE or KBA?

Over the 10-year period, KBA has performed better with a 9.42% return vs -2.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPHE or KBA?

EPHE is cheaper with a 0.59% expense ratio, compared with 0.60% for KBA.

Which ETF pays a higher dividend yield, EPHE or KBA?

EPHE has the higher dividend yield at 2.66%, compared with 1.46% for KBA.

What is the main difference between EPHE and KBA?

EPHE is categorized as Asia Pacific Equities, while KBA is China Equities. EPHE tracks MSCI Philippines Investable Market Index, while KBA tracks MSCI China A Index. They also come from different issuers: iShares and CICC. Their fees differ too: 0.59% for EPHE and 0.60% for KBA.

Which has better risk-adjusted returns?

KBA currently has the higher Sharpe Ratio (1.63 vs 0.17), 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.