FXP vs. KLIP
Compare and contrast key facts about ProShares UltraShort FTSE China 50 (FXP) and KraneShares China Internet and Covered Call Strategy ETF (KLIP).
FXP and KLIP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FXP is a passively managed fund by ProShares that tracks the performance of the FTSE China 50 Net Tax USD (TR) (-200%). It was launched on Nov 8, 2007. KLIP is managed by CICC. It was launched on Jan 12, 2023.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FXP or KLIP.
Key characteristics
| FXP | KLIP | |
|---|---|---|
| YTD Return | -57.63% | 5.97% |
| 1Y Return | -53.10% | 9.45% |
| Sharpe Ratio | -0.81 | 0.60 |
| Sortino Ratio | -1.07 | 0.97 |
| Omega Ratio | 0.86 | 1.12 |
| Calmar Ratio | -0.52 | 1.02 |
| Martin Ratio | -1.45 | 2.31 |
| Ulcer Index | 36.14% | 4.21% |
| Daily Std Dev | 64.83% | 16.09% |
| Max Drawdown | -99.90% | -10.39% |
| Current Drawdown | -99.88% | -0.93% |
Correlation
The correlation between FXP and KLIP is -0.87. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
FXP vs. KLIP - Performance Comparison
In the year-to-date period, FXP achieves a -57.63% return, which is significantly lower than KLIP's 5.97% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FXP vs. KLIP - Expense Ratio Comparison
Both FXP and KLIP have an expense ratio of 0.95%.
Risk-Adjusted Performance
FXP vs. KLIP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE China 50 (FXP) and KraneShares China Internet and Covered Call Strategy ETF (KLIP). 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.
Dividends
FXP vs. KLIP - Dividend Comparison
FXP's dividend yield for the trailing twelve months is around 5.68%, less than KLIP's 53.71% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 5.68% | 2.20% | 0.06% | 0.00% | 0.06% | 1.20% | 0.16% |
KLIP KraneShares China Internet and Covered Call Strategy ETF | 53.71% | 61.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FXP vs. KLIP - Drawdown Comparison
The maximum FXP drawdown since its inception was -99.90%, which is greater than KLIP's maximum drawdown of -10.39%. Use the drawdown chart below to compare losses from any high point for FXP and KLIP. For additional features, visit the drawdowns tool.
Volatility
FXP vs. KLIP - Volatility Comparison
ProShares UltraShort FTSE China 50 (FXP) has a higher volatility of 21.73% compared to KraneShares China Internet and Covered Call Strategy ETF (KLIP) at 6.72%. This indicates that FXP's price experiences larger fluctuations and is considered to be riskier than KLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.