GRN vs. KRBN
Compare and contrast key facts about iPath Series B Carbon ETN (GRN) and KraneShares Global Carbon ETF (KRBN).
GRN and KRBN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GRN is a passively managed fund by Barclays Capital that tracks the performance of the Barclays Global Carbon II Index. It was launched on Sep 10, 2019. KRBN is a passively managed fund by CICC that tracks the performance of the IHS Markit Global Carbon Index. It was launched on Jul 30, 2020. Both GRN and KRBN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GRN or KRBN.
Performance
GRN vs. KRBN - Performance Comparison
Returns By Period
In the year-to-date period, GRN achieves a -10.97% return, which is significantly higher than KRBN's -14.33% return.
GRN
-10.97%
11.12%
-8.62%
-9.40%
-11.16%
N/A
KRBN
-14.33%
0.35%
-12.17%
-11.23%
N/A
N/A
Key characteristics
| GRN | KRBN | |
|---|---|---|
| Sharpe Ratio | -0.28 | -0.51 |
| Sortino Ratio | -0.17 | -0.63 |
| Omega Ratio | 0.98 | 0.93 |
| Calmar Ratio | -0.13 | -0.36 |
| Martin Ratio | -0.65 | -0.97 |
| Ulcer Index | 16.01% | 12.32% |
| Daily Std Dev | 37.23% | 23.27% |
| Max Drawdown | -82.36% | -36.42% |
| Current Drawdown | -75.60% | -26.61% |
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GRN vs. KRBN - Expense Ratio Comparison
GRN has a 0.75% expense ratio, which is lower than KRBN's 0.79% expense ratio.
Correlation
The correlation between GRN and KRBN is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
GRN vs. KRBN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iPath Series B Carbon ETN (GRN) and KraneShares Global Carbon ETF (KRBN). 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
GRN vs. KRBN - Dividend Comparison
GRN has not paid dividends to shareholders, while KRBN's dividend yield for the trailing twelve months is around 3.61%.
| TTM | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
GRN iPath Series B Carbon ETN | 0.00% | 0.00% | 0.00% | 0.00% |
KRBN KraneShares Global Carbon ETF | 3.61% | 7.60% | 22.91% | 0.49% |
Drawdowns
GRN vs. KRBN - Drawdown Comparison
The maximum GRN drawdown since its inception was -82.36%, which is greater than KRBN's maximum drawdown of -36.42%. Use the drawdown chart below to compare losses from any high point for GRN and KRBN. For additional features, visit the drawdowns tool.
Volatility
GRN vs. KRBN - Volatility Comparison
iPath Series B Carbon ETN (GRN) has a higher volatility of 9.25% compared to KraneShares Global Carbon ETF (KRBN) at 6.36%. This indicates that GRN's price experiences larger fluctuations and is considered to be riskier than KRBN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.