IVOL vs. KBND

Last updated Apr 1, 2026

Compare and contrast key facts about Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) and KraneShares Bloomberg China Bond Inclusion Index ETF (KBND).

IVOL and KBND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IVOL is an actively managed fund by CICC. It was launched on May 13, 2019. KBND is a passively managed fund by CICC that tracks the performance of the KBND-US - Bloomberg China Inclusion Focused Bond Index. It was launched on Dec 3, 2014.

Performance

IVOL vs. KBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) and KraneShares Bloomberg China Bond Inclusion Index ETF (KBND). The values are adjusted to include any dividend payments, if applicable.

IVOL vs. KBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	-1.46%	11.97%	-11.07%	-5.18%	-12.69%	-0.31%	14.56%	3.23%
KBND KraneShares Bloomberg China Bond Inclusion Index ETF	0.00%	0.00%	0.89%	3.13%	-6.81%	4.41%	9.38%	0.72%

Returns By Period

IVOL

• 1D: -0.05%
• 1M: -1.70%
• YTD: -1.46%
• 6M: -1.19%
• 1Y: 3.84%
• 3Y*: -2.83%
• 5Y*: -4.62%
• 10Y*: —

KBND

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IVOL vs. KBND - Expense Ratio Comparison

IVOL has a 0.99% expense ratio, which is higher than KBND's 0.50% expense ratio.

IVOL

Quadratic Interest Rate Volatility & Inflation Hedge ETF

KBND

KraneShares Bloomberg China Bond Inclusion Index ETF

Return for Risk

IVOL vs. KBND — Risk / Return Rank

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

IVOL

IVOL Risk / Return Rank: 23
IVOL Sharpe Ratio Rank: 23
IVOL Sortino Ratio Rank: 23
IVOL Omega Ratio Rank: 23
IVOL Calmar Ratio Rank: 25
IVOL Martin Ratio Rank: 20

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.

IVOL vs. KBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) and KraneShares Bloomberg China Bond Inclusion Index ETF (KBND). 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.

	IVOL	KBND	Difference
Sharpe ratio Return per unit of total volatility	0.37	—	—
Sortino ratio Return per unit of downside risk	0.64	—	—
Omega ratio Gain probability vs. loss probability	1.08	—	—
Calmar ratio Return relative to maximum drawdown	0.55	—	—
Martin ratio Return relative to average drawdown	1.06	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IVOL	KBND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	—	—

Correlation

The correlation between IVOL and KBND is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IVOL vs. KBND - Dividend Comparison

IVOL's dividend yield for the trailing twelve months is around 3.73%, while KBND has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	3.73%	3.61%	3.83%	3.73%	3.92%	3.93%	3.44%	2.02%	0.00%	0.00%	0.00%	0.00%
KBND KraneShares Bloomberg China Bond Inclusion Index ETF	0.00%	0.00%	0.40%	2.20%	2.51%	6.97%	2.27%	3.47%	4.98%	0.00%	0.04%	1.16%

Drawdowns

Drawdown Indicators

	IVOL	KBND	Difference
Max Drawdown Largest peak-to-trough decline	-31.16%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-6.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.16%	—	—
Current Drawdown Current decline from peak	-22.51%	—	—
Average Drawdown Average peak-to-trough decline	-13.02%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	—	—

Volatility

Volatility by Period

	IVOL	KBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.34%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.40%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.82%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.11%	—	—