IVOL vs. KURE
IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) and KURE (KraneShares MSCI All China Health Care Index ETF) are both exchange-traded funds - IVOL is a Inflation-Protected Bonds fund actively managed by CICC, while KURE is a China Equities fund tracking the MSCI China All Shares Health Care 10/40 Index. IVOL is actively managed, while KURE is passively managed. Over the past 5 years, IVOL returned -5.87%/yr vs -12.04%/yr for KURE. Their 0.08 correlation means their historical movements had little consistent relationship. IVOL charges 0.99%/yr vs 0.65%/yr for KURE.
Performance
IVOL vs. KURE - Performance Comparison
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Returns By Period
In the year-to-date period, IVOL achieves a -7.33% return, which is significantly lower than KURE's 1.41% return.
IVOL
- 1D
- 0.17%
- 1M
- 0.36%
- 6M
- -6.64%
- YTD
- -7.33%
- 1Y
- -7.62%
- 3Y*
- -1.90%
- 5Y*
- -5.87%
- 10Y*
- —
- ALL TIME*
- -1.42%
KURE
- 1D
- 0.06%
- 1M
- 5.01%
- 6M
- -2.43%
- YTD
- 1.41%
- 1Y
- -7.37%
- 3Y*
- -0.53%
- 5Y*
- -12.04%
- 10Y*
- —
- ALL TIME*
- -1.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.46M | $1.22M | $2.07M | |
| $507.63K | $1.60M | $845.13K |
IVOL vs. KURE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -7.33% | 11.97% | -11.07% | -5.18% | -12.69% | -0.31% | 14.56% | 3.35% |
KURE KraneShares MSCI All China Health Care Index ETF | 1.41% | 24.87% | -17.83% | -17.70% | -25.43% | -16.01% | 68.97% | 14.97% |
Correlation
The correlation between IVOL and KURE is 0.05, 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. | 0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.08 |
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Return for Risk
IVOL vs. KURE — Risk / Return Rank
IVOL
KURE
IVOL vs. KURE - 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 MSCI All China Health Care Index ETF (KURE). 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 | KURE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.97 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | -0.27 | -0.24 |
| Martin ratioReturn relative to average drawdown | -0.99 | -0.52 | -0.47 |
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Drawdowns
IVOL vs. KURE - Drawdown Comparison
The maximum IVOL drawdown since its inception was -31.16%, smaller than the maximum KURE drawdown of -68.53%. Use the drawdown chart below to compare losses from any high point for IVOL and KURE.
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Drawdown Indicators
| IVOL | KURE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.16% | -68.53% | +37.37% |
Max Drawdown (1Y)Largest decline over 1 year | -12.17% | -30.88% | +18.71% |
Max Drawdown (3Y)Largest decline over 3 years | -14.48% | -34.05% | +19.57% |
Max Drawdown (5Y)Largest decline over 5 years | -30.07% | -63.97% | +33.90% |
Current DrawdownCurrent decline from peak | -27.12% | -55.84% | +28.72% |
Average DrawdownAverage peak-to-trough decline | -13.60% | -38.43% | +24.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.22% | 16.07% | -9.85% |
Volatility
IVOL vs. KURE - Volatility Comparison
The current volatility for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) is 1.74%, while KraneShares MSCI All China Health Care Index ETF (KURE) has a volatility of 10.91%. This indicates that IVOL experiences smaller price fluctuations and is considered to be less risky than KURE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVOL | KURE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 10.91% | -9.17% |
Volatility (6M)Calculated over the trailing 6-month period | 4.95% | 20.85% | -15.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.74% | 28.26% | -21.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 31.46% | -18.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.91% | 32.44% | -20.53% |
IVOL vs. KURE - Expense Ratio Comparison
IVOL has a 0.99% expense ratio, which is higher than KURE's 0.65% expense ratio.
Dividends
IVOL vs. KURE - Dividend Comparison
IVOL's dividend yield for the trailing twelve months is around 3.88%, less than KURE's 4.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.88% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% | 0.00% |
KURE KraneShares MSCI All China Health Care Index ETF | 4.14% | 4.19% | 1.29% | 0.65% | 0.05% | 14.12% | 0.00% | 0.25% | 0.21% |
Frequently Asked Questions
IVOL and KURE have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KURE has higher volatility (10.91%) compared to IVOL (1.74%). In terms of maximum drawdown, IVOL dropped -31.16% vs KURE's -68.53%.
On 5-year performance, IVOL leads with -5.87% vs -12.04% for KURE. On fees, KURE is cheaper at 0.65% per year. On volatility, IVOL has been the lower-risk option at 1.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IVOL has performed better with a -5.87% return vs -12.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KURE is cheaper with a 0.65% expense ratio, compared with 0.99% for IVOL.
KURE has the higher dividend yield at 4.14%, compared with 3.88% for IVOL.
IVOL is categorized as Inflation-Protected Bonds, while KURE is China Equities. Their fees differ too: 0.99% for IVOL and 0.65% for KURE.
KURE currently has the higher Sharpe Ratio (-0.30 vs -0.92), 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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