FXI vs. KSTR

Last updated Jun 24, 2026

FXI (iShares China Large-Cap ETF) and KSTR (KraneShares SSE STAR Market 50 Index ETF) are both China Equities funds - FXI tracks the FTSE China 50 Index while KSTR tracks the SSE Science and Technology Innovation Board 50 Index. Both are passively managed. Over the past 5 years, FXI returned -4.39%/yr vs 1.10%/yr for KSTR. At a 0.48 correlation, their price movements are largely independent. FXI charges 0.74%/yr vs 0.89%/yr for KSTR.

Performance

FXI vs. KSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares China Large-Cap ETF (FXI) 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, FXI achieves a -13.61% return, which is significantly lower than KSTR's 47.82% return.

FXI

• 1D: -1.79%
• 1M: -6.88%
• YTD: -13.61%
• 6M: -14.15%
• 1Y: -7.33%
• 3Y*: 9.64%
• 5Y*: -4.39%
• 10Y*: 2.55%

KSTR

• 1D: -2.34%
• 1M: 7.54%
• YTD: 47.82%
• 6M: 47.90%
• 1Y: 108.41%
• 3Y*: 23.01%
• 5Y*: 1.10%
• 10Y*: —

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

FXI vs. KSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FXI iShares China Large-Cap ETF	-13.61%	28.95%	28.98%	-12.42%	-20.66%	-29.10%
KSTR KraneShares SSE STAR Market 50 Index ETF	47.82%	42.82%	6.12%	-17.93%	-38.51%	-2.01%

Correlation

The correlation between FXI and KSTR is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021	0.48

The correlation between FXI and KSTR has been stable across timeframes, ranging from 0.47 to 0.52 - a consistent structural relationship.

FXI vs. KSTR - Sectors Allocation Comparison

Sectors	FXI	KSTR
Financial Services	34.8%	-
Consumer Cyclical	26.4%	0.9%
Communication Services	16.3%	-
Technology	5.4%	86.3%
Energy	5.3%	0.9%
Basic Materials	3.9%	0.6%
Industrials	3.2%	6.6%
Healthcare	2.3%	5.7%
Real Estate	1.1%	-
Consumer Defensive	0.9%	-
Utilities	0.4%	-

Return for Risk

FXI vs. KSTR — Risk / Return Rank

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

FXI

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

KSTR

KSTR Risk / Return Rank: 86
KSTR Sharpe Ratio Rank: 91
KSTR Sortino Ratio Rank: 84
KSTR Omega Ratio Rank: 83
KSTR Calmar Ratio Rank: 93
KSTR Martin Ratio Rank: 81

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.

FXI vs. KSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares China Large-Cap ETF (FXI) 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.

	FXI	KSTR	Difference
Sharpe ratio: Return per unit of total volatility	-0.37	2.93	-3.29
Sortino ratio: Return per unit of downside risk	-0.40	3.49	-3.89
Omega ratio: Gain probability vs. loss probability	0.95	1.46	-0.51
Calmar ratio: Return relative to maximum drawdown	-0.37	6.16	-6.53
Martin ratio: Return relative to average drawdown	-0.90	15.20	-16.10

FXI vs. KSTR - Sharpe Ratio Comparison

The current FXI Sharpe Ratio is -0.37, which is lower than the KSTR Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of FXI 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

FXI vs. KSTR - Drawdown Comparison

The maximum FXI drawdown since its inception was -72.68%, which is greater than KSTR's maximum drawdown of -66.46%. Use the drawdown chart below to compare losses from any high point for FXI and KSTR.

Drawdown Indicators

	FXI	KSTR	Difference
Max Drawdown Largest peak-to-trough decline	-72.68%	-66.46%	-6.22%
Max Drawdown (1Y) Largest decline over 1 year	-19.91%	-17.70%	-2.21%
Max Drawdown (3Y) Largest decline over 3 years	-28.72%	-41.55%	+12.83%
Max Drawdown (5Y) Largest decline over 5 years	-54.94%	-66.46%	+11.52%
Max Drawdown (10Y) Largest decline over 10 years	-60.81%	—	—
Current Drawdown Current decline from peak	-31.97%	-2.34%	-29.63%
Average Drawdown Average peak-to-trough decline	-31.21%	-38.47%	+7.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.13%	7.16%	+0.97%

Volatility

FXI vs. KSTR - Volatility Comparison

The current volatility for iShares China Large-Cap ETF (FXI) is 6.02%, while KraneShares SSE STAR Market 50 Index ETF (KSTR) has a volatility of 16.10%. This indicates that FXI 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

	FXI	KSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.02%	16.10%	-10.08%
Volatility (6M) Calculated over the trailing 6-month period	14.66%	28.62%	-13.96%
Volatility (1Y) Calculated over the trailing 1-year period	20.00%	37.27%	-17.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.72%	38.60%	-6.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.60%	37.87%	-10.27%

FXI vs. KSTR - Expense Ratio Comparison

FXI has a 0.74% expense ratio, which is lower than KSTR's 0.89% expense ratio.

Dividends

FXI vs. KSTR - Dividend Comparison

FXI's dividend yield for the trailing twelve months is around 2.07%, while KSTR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXI iShares China Large-Cap ETF	2.07%	2.42%	1.76%	3.17%	2.61%	1.60%	2.19%	2.74%	2.69%	2.31%	2.69%	2.90%
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 FXI and KSTR in my portfolio?

FXI and KSTR have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXI or KSTR?

KSTR has higher volatility (16.10%) compared to FXI (6.02%). In terms of maximum drawdown, FXI dropped -72.68% vs KSTR's -66.46%.

Which ETF is better, FXI or KSTR?

On 5-year performance, KSTR leads with 1.10% vs -4.39% for FXI. On fees, FXI is cheaper at 0.74% per year. On volatility, FXI has been the lower-risk option at 6.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXI or KSTR?

Over the 5-year period, KSTR has performed better with a 1.10% return vs -4.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXI or KSTR?

FXI is cheaper with a 0.74% expense ratio, compared with 0.89% for KSTR.

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

FXI has the higher dividend yield at 2.07%, compared with 0.00% for KSTR.

What is the main difference between FXI and KSTR?

FXI tracks FTSE China 50 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: 0.74% for FXI and 0.89% for KSTR.

Which has better risk-adjusted returns?

KSTR currently has the higher Sharpe Ratio (2.93 vs -0.37), 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.