ISVBF vs. KCAI
ISVBF (iShares MSCI China A UCITS ETF) and KCAI (KraneShares China Alpha Index ETF) are both China Equities funds - ISVBF tracks the MSCI China A Inclusion Index while KCAI tracks the Qi China Alpha Index. Both are passively managed. Over the past year, ISVBF returned -1.01% vs 40.52% for KCAI. At a 0.39 correlation, their price movements are largely independent. ISVBF charges 0.40%/yr vs 0.79%/yr for KCAI.
Performance
ISVBF vs. KCAI - Performance Comparison
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Returns By Period
In the year-to-date period, ISVBF achieves a -8.71% return, which is significantly lower than KCAI's 6.33% return.
ISVBF
- 1D
- 1.84%
- 1M
- -1.17%
- 6M
- -13.00%
- YTD
- -8.71%
- 1Y
- -1.01%
- 3Y*
- 8.64%
- 5Y*
- -5.34%
- 10Y*
- —
KCAI
- 1D
- 0.67%
- 1M
- -1.82%
- 6M
- 7.14%
- YTD
- 6.33%
- 1Y
- 40.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ISVBF vs. KCAI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ISVBF iShares MSCI China A UCITS ETF | -8.71% | 30.64% | 14.61% |
KCAI KraneShares China Alpha Index ETF | 6.33% | 53.29% | 11.36% |
Correlation
The correlation between ISVBF and KCAI is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Aug 28, 2024 | 0.39 |
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Return for Risk
ISVBF vs. KCAI — Risk / Return Rank
ISVBF
KCAI
ISVBF vs. KCAI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China A UCITS ETF (ISVBF) and KraneShares China Alpha Index ETF (KCAI). 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.
| ISVBF | KCAI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.96 | ||
| Sortino ratioReturn per unit of downside risk | -4.06 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.51 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 6.90 | -6.95 |
| Martin ratioReturn relative to average drawdown | -0.10 | 21.89 | -21.99 |
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Drawdowns
ISVBF vs. KCAI - Drawdown Comparison
The maximum ISVBF drawdown since its inception was -53.78%, which is greater than KCAI's maximum drawdown of -25.48%. Use the drawdown chart below to compare losses from any high point for ISVBF and KCAI.
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Drawdown Indicators
| ISVBF | KCAI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.78% | -25.48% | -28.30% |
Max Drawdown (1Y)Largest decline over 1 year | -24.14% | -5.90% | -18.24% |
Max Drawdown (3Y)Largest decline over 3 years | -24.14% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -52.51% | — | — |
Current DrawdownCurrent decline from peak | -26.01% | -2.53% | -23.48% |
Average DrawdownAverage peak-to-trough decline | -32.64% | -6.93% | -25.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.49% | 1.86% | +8.63% |
Volatility
ISVBF vs. KCAI - Volatility Comparison
iShares MSCI China A UCITS ETF (ISVBF) has a higher volatility of 7.72% compared to KraneShares China Alpha Index ETF (KCAI) at 5.18%. This indicates that ISVBF's price experiences larger fluctuations and is considered to be riskier than KCAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISVBF | KCAI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.72% | 5.18% | +2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 27.02% | 9.43% | +17.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.48% | 13.95% | +17.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.46% | 20.91% | +9.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.13% | 20.91% | +9.22% |
ISVBF vs. KCAI - Expense Ratio Comparison
ISVBF has a 0.40% expense ratio, which is lower than KCAI's 0.79% expense ratio.
Dividends
ISVBF vs. KCAI - Dividend Comparison
ISVBF has not paid dividends to shareholders, while KCAI's dividend yield for the trailing twelve months is around 33.31%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ISVBF iShares MSCI China A UCITS ETF | 0.00% | 0.00% | 0.00% |
KCAI KraneShares China Alpha Index ETF | 33.31% | 35.42% | 2.19% |
Frequently Asked Questions
ISVBF and KCAI have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISVBF has higher volatility (7.72%) compared to KCAI (5.18%). In terms of maximum drawdown, ISVBF dropped -53.78% vs KCAI's -25.48%.
On 1-year performance, KCAI leads with 40.52% vs -1.01% for ISVBF. On fees, ISVBF is cheaper at 0.40% per year. On volatility, KCAI has been the lower-risk option at 5.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KCAI has performed better with a 40.52% return vs -1.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISVBF is cheaper with a 0.40% expense ratio, compared with 0.79% for KCAI.
KCAI has the higher dividend yield at 33.31%, compared with 0.00% for ISVBF.
ISVBF tracks MSCI China A Inclusion Index, while KCAI tracks Qi China Alpha Index. They also come from different issuers: iShares and KraneShares. Their fees differ too: 0.40% for ISVBF and 0.79% for KCAI.
KCAI currently has the higher Sharpe Ratio (2.93 vs -0.03), 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.
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