IVOL vs. KEMQ
IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) and KEMQ (KraneShares Emerging Markets Consumer Technology Index ETF) are both exchange-traded funds - IVOL is a Inflation-Protected Bonds fund actively managed by CICC, while KEMQ is a Emerging Markets Equities fund tracking the Solactive Emerging Markets Consumer Technology Index. IVOL is actively managed, while KEMQ is passively managed. Over the past 5 years, IVOL returned -5.74%/yr vs -1.32%/yr for KEMQ. Their 0.02 correlation means their historical movements had little consistent relationship. IVOL charges 0.99%/yr vs 0.60%/yr for KEMQ.
Performance
IVOL vs. KEMQ - Performance Comparison
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Returns By Period
In the year-to-date period, IVOL achieves a -6.93% return, which is significantly lower than KEMQ's 4.34% return.
IVOL
- 1D
- 0.43%
- 1M
- 0.79%
- 6M
- -5.94%
- YTD
- -6.93%
- 1Y
- -7.22%
- 3Y*
- -2.76%
- 5Y*
- -5.74%
- 10Y*
- —
- ALL TIME*
- -1.36%
KEMQ
- 1D
- 1.50%
- 1M
- 2.04%
- 6M
- -3.27%
- YTD
- 4.34%
- 1Y
- 23.14%
- 3Y*
- 20.76%
- 5Y*
- -1.32%
- 10Y*
- —
- ALL TIME*
- 1.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.47M | $1.20M | $2.07M | |
| $177.28K | $158.49K | $325.88K |
IVOL vs. KEMQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -6.93% | 11.97% | -11.07% | -5.18% | -12.69% | -0.31% | 14.56% | 3.35% |
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF | 4.34% | 56.28% | 13.81% | 0.77% | -38.09% | -27.31% | 39.26% | 12.96% |
Correlation
The correlation between IVOL and KEMQ is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.01 |
Correlation (3Y) Balances recent behavior with more history. | -0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.00 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.02 |
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Return for Risk
IVOL vs. KEMQ — Risk / Return Rank
IVOL
KEMQ
IVOL vs. KEMQ - 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 Emerging Markets Consumer Technology Index ETF (KEMQ). 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.
| IVOL | KEMQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.95 | ||
| Sortino ratioReturn per unit of downside risk | -2.78 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.16 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | 1.06 | -1.66 |
| Martin ratioReturn relative to average drawdown | -1.16 | 2.57 | -3.73 |
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Drawdowns
IVOL vs. KEMQ - Drawdown Comparison
The maximum IVOL drawdown since its inception was -31.16%, smaller than the maximum KEMQ drawdown of -70.72%. Use the drawdown chart below to compare losses from any high point for IVOL and KEMQ.
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Drawdown Indicators
| IVOL | KEMQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.16% | -70.72% | +39.56% |
Max Drawdown (1Y)Largest decline over 1 year | -12.17% | -21.94% | +9.77% |
Max Drawdown (3Y)Largest decline over 3 years | -14.48% | -21.94% | +7.46% |
Max Drawdown (5Y)Largest decline over 5 years | -30.07% | -62.62% | +32.55% |
Current DrawdownCurrent decline from peak | -26.81% | -29.92% | +3.11% |
Average DrawdownAverage peak-to-trough decline | -13.61% | -35.58% | +21.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.25% | 9.02% | -2.77% |
Volatility
IVOL vs. KEMQ - Volatility Comparison
The current volatility for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) is 1.72%, while KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) has a volatility of 7.55%. This indicates that IVOL experiences smaller price fluctuations and is considered to be less risky than KEMQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVOL | KEMQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.72% | 7.55% | -5.83% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 22.96% | -18.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.52% | 27.84% | -21.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 32.02% | -19.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.91% | 29.61% | -17.70% |
IVOL vs. KEMQ - Expense Ratio Comparison
IVOL has a 0.99% expense ratio, which is higher than KEMQ's 0.60% expense ratio.
Dividends
IVOL vs. KEMQ - Dividend Comparison
IVOL's dividend yield for the trailing twelve months is around 3.87%, less than KEMQ's 5.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.87% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% |
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF | 5.05% | 5.27% | 0.73% | 0.29% | 0.00% | 0.28% | 2.28% | 1.76% |
Frequently Asked Questions
IVOL and KEMQ have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KEMQ has higher volatility (7.55%) compared to IVOL (1.72%). In terms of maximum drawdown, IVOL dropped -31.16% vs KEMQ's -70.72%.
On 5-year performance, KEMQ leads with -1.32% vs -5.74% for IVOL. On fees, KEMQ is cheaper at 0.60% per year. On volatility, IVOL has been the lower-risk option at 1.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KEMQ has performed better with a -1.32% return vs -5.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KEMQ is cheaper with a 0.60% expense ratio, compared with 0.99% for IVOL.
KEMQ has the higher dividend yield at 5.05%, compared with 3.87% for IVOL.
IVOL is categorized as Inflation-Protected Bonds, while KEMQ is Emerging Markets Equities. Their fees differ too: 0.99% for IVOL and 0.60% for KEMQ.
KEMQ currently has the higher Sharpe Ratio (0.84 vs -1.11), 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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