FXP vs. KJD

Last updated Aug 5, 2026

FXP (ProShares UltraShort FTSE China 50) and KJD (KraneShares 2X Long JD Daily ETF) are both China Equities funds. FXP is passively managed, while KJD is actively managed. Their -0.65 correlation means they have often moved in opposite directions in the past. FXP charges 0.95%/yr vs 1.26%/yr for KJD.

Performance

FXP vs. KJD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort FTSE China 50 (FXP) and KraneShares 2X Long JD Daily ETF (KJD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXP achieves a 6.18% return, which is significantly lower than KJD's 23.81% return.

FXP

• 1D: 0.44%
• 1M: -23.97%
• 6M: 9.78%
• YTD: 6.18%
• 1Y: -1.26%
• 3Y*: -27.96%
• 5Y*: -21.08%
• 10Y*: -22.22%
• ALL TIME*: -28.45%

KJD

• 1D: -0.45%
• 1M: 50.22%
• 6M: 32.20%
• YTD: 23.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
FXP ProShares UltraShort FTSE China 50	$103.24K	$95.91K	$96.09K
KJD KraneShares 2X Long JD Daily ETF	$79.86K	$58.23K	$79.60K

FXP vs. KJD - Yearly Performance Comparison

	2026 (YTD)	2025
FXP ProShares UltraShort FTSE China 50	6.18%	4.16%
KJD KraneShares 2X Long JD Daily ETF	23.81%	-28.21%

Correlation

The correlation between FXP and KJD is -0.65, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025	-0.65

Return for Risk

FXP vs. KJD — Risk / Return Rank

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

FXP

FXP Risk / Return Rank: 10
FXP Sharpe Ratio Rank: 10
FXP Sortino Ratio Rank: 11
FXP Omega Ratio Rank: 11
FXP Calmar Ratio Rank: 9
FXP Martin Ratio Rank: 9

KJD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FXP vs. KJD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE China 50 (FXP) and KraneShares 2X Long JD Daily ETF (KJD). 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.

	FXP	KJD	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	—	—
Sortino ratio: Return per unit of downside risk	0.24	—	—
Omega ratio: Gain probability vs. loss probability	1.03	—	—
Calmar ratio: Return relative to maximum drawdown	-0.05	—	—
Martin ratio: Return relative to average drawdown	-0.11	—	—

Drawdowns

FXP vs. KJD - Drawdown Comparison

The maximum FXP drawdown since its inception was -99.94%, which is greater than KJD's maximum drawdown of -50.81%. Use the drawdown chart below to compare losses from any high point for FXP and KJD.

Drawdown Indicators

	FXP	KJD	Difference
Max Drawdown Largest peak-to-trough decline	-99.94%	-50.81%	-49.13%
Max Drawdown (1Y) Largest decline over 1 year	-25.65%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-82.34%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-87.85%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-93.56%	—	—
Current Drawdown Current decline from peak	-99.92%	-17.31%	-82.61%
Average Drawdown Average peak-to-trough decline	-94.18%	-29.98%	-64.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.62%	—	—

Volatility

Volatility by Period

	FXP	KJD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	29.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	40.60%	60.65%	-20.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.72%	60.65%	+2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.81%	60.65%	-5.84%

FXP vs. KJD - Expense Ratio Comparison

FXP has a 0.95% expense ratio, which is lower than KJD's 1.26% expense ratio.

Dividends

FXP vs. KJD - Dividend Comparison

FXP's dividend yield for the trailing twelve months is around 3.39%, while KJD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FXP ProShares UltraShort FTSE China 50	3.39%	9.57%	3.55%	2.20%	0.06%	0.00%	0.06%	1.20%	0.16%
KJD KraneShares 2X Long JD Daily ETF	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 FXP and KJD in my portfolio?

FXP and KJD have a correlation of -0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FXP or KJD?

On fees, FXP is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FXP or KJD?

FXP is cheaper with a 0.95% expense ratio, compared with 1.26% for KJD.

Which ETF pays a higher dividend yield, FXP or KJD?

FXP has the higher dividend yield at 3.39%, compared with 0.00% for KJD.

What is the main difference between FXP and KJD?

They also come from different issuers: ProShares and KraneShares. Their fees differ too: 0.95% for FXP and 1.26% for KJD.