JCHI vs. KLIP

Last updated Aug 5, 2026

JCHI (JPMorgan Active China ETF) and KLIP (KraneShares China Internet and Covered Call Strategy ETF) are both China Equities funds. Both are actively managed. Over the past 3 years, JCHI returned 7.41%/yr vs 6.46%/yr for KLIP. Their correlation of 0.80 means they have usually moved in the same direction. JCHI charges 0.65%/yr vs 0.95%/yr for KLIP.

Performance

JCHI vs. KLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Active China ETF (JCHI) and KraneShares China Internet and Covered Call Strategy ETF (KLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JCHI achieves a 1.36% return, which is significantly higher than KLIP's -6.43% return.

JCHI

• 1D: 0.69%
• 1M: 7.15%
• 6M: -0.52%
• YTD: 1.36%
• 1Y: 11.12%
• 3Y*: 7.41%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.98%

KLIP

• 1D: 0.37%
• 1M: 7.28%
• 6M: -9.42%
• YTD: -6.43%
• 1Y: -3.80%
• 3Y*: 6.46%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.63%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JCHI JPMorgan Active China ETF	$32.72K	$34.73K	$39.41K
KLIP KraneShares China Internet and Covered Call Strategy ETF	$648.17K	$565.25K	$989.65K

JCHI vs. KLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JCHI JPMorgan Active China ETF	1.36%	27.66%	13.77%	-17.31%
KLIP KraneShares China Internet and Covered Call Strategy ETF	-6.43%	16.92%	3.37%	20.35%

Correlation

The correlation between JCHI and KLIP is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (All Time) Calculated using the full available price history since Mar 16, 2023	0.80

The correlation between JCHI and KLIP has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.

Return for Risk

JCHI vs. KLIP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JCHI

JCHI Risk / Return Rank: 23
JCHI Sharpe Ratio Rank: 24
JCHI Sortino Ratio Rank: 23
JCHI Omega Ratio Rank: 23
JCHI Calmar Ratio Rank: 23
JCHI Martin Ratio Rank: 21

KLIP

KLIP Risk / Return Rank: 7
KLIP Sharpe Ratio Rank: 7
KLIP Sortino Ratio Rank: 7
KLIP Omega Ratio Rank: 7
KLIP Calmar Ratio Rank: 8
KLIP Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JCHI vs. KLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Active China ETF (JCHI) and KraneShares China Internet and Covered Call Strategy ETF (KLIP). 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.

	JCHI	KLIP	Difference
Sharpe ratio: Return per unit of total volatility	0.60	-0.23	+0.83
Sortino ratio: Return per unit of downside risk	0.94	-0.21	+1.15
Omega ratio: Gain probability vs. loss probability	1.12	0.97	+0.14
Calmar ratio: Return relative to maximum drawdown	0.78	-0.18	+0.95
Martin ratio: Return relative to average drawdown	1.55	-0.41	+1.97

JCHI vs. KLIP - Sharpe Ratio Comparison

The current JCHI Sharpe Ratio is 0.60, which is higher than the KLIP Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of JCHI and KLIP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JCHI vs. KLIP - Drawdown Comparison

The maximum JCHI drawdown since its inception was -29.57%, which is greater than KLIP's maximum drawdown of -21.48%. Use the drawdown chart below to compare losses from any high point for JCHI and KLIP.

Drawdown Indicators

	JCHI	KLIP	Difference
Max Drawdown Largest peak-to-trough decline	-29.57%	-21.48%	-8.09%
Max Drawdown (1Y) Largest decline over 1 year	-14.37%	-21.48%	+7.11%
Max Drawdown (3Y) Largest decline over 3 years	-27.47%	-21.48%	-5.99%
Current Drawdown Current decline from peak	-6.61%	-11.80%	+5.19%
Average Drawdown Average peak-to-trough decline	-13.15%	-4.34%	-8.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.17%	9.25%	-2.08%

Volatility

JCHI vs. KLIP - Volatility Comparison

JPMorgan Active China ETF (JCHI) has a higher volatility of 5.44% compared to KraneShares China Internet and Covered Call Strategy ETF (KLIP) at 2.03%. This indicates that JCHI's price experiences larger fluctuations and is considered to be riskier than KLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JCHI	KLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	2.03%	+3.41%
Volatility (6M) Calculated over the trailing 6-month period	13.77%	13.00%	+0.77%
Volatility (1Y) Calculated over the trailing 1-year period	18.80%	16.57%	+2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.66%	17.97%	+6.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.66%	17.97%	+6.69%

JCHI vs. KLIP - Expense Ratio Comparison

JCHI has a 0.65% expense ratio, which is lower than KLIP's 0.95% expense ratio.

Dividends

JCHI vs. KLIP - Dividend Comparison

JCHI's dividend yield for the trailing twelve months is around 1.79%, less than KLIP's 27.43% yield.

Position	TTM	2025	2024	2023
JCHI JPMorgan Active China ETF	1.79%	1.81%	2.12%	2.13%
KLIP KraneShares China Internet and Covered Call Strategy ETF	27.43%	25.14%	54.26%	61.22%

Frequently Asked Questions

Can I hold both JCHI and KLIP in my portfolio?

JCHI and KLIP have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JCHI or KLIP?

JCHI has higher volatility (5.44%) compared to KLIP (2.03%). In terms of maximum drawdown, JCHI dropped -29.57% vs KLIP's -21.48%.

Which ETF is better, JCHI or KLIP?

On 3-year performance, JCHI leads with 7.41% vs 6.46% for KLIP. On fees, JCHI is cheaper at 0.65% per year. On volatility, KLIP has been the lower-risk option at 2.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JCHI or KLIP?

Over the 3-year period, JCHI has performed better with a 7.41% return vs 6.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JCHI or KLIP?

JCHI is cheaper with a 0.65% expense ratio, compared with 0.95% for KLIP.

Which ETF pays a higher dividend yield, JCHI or KLIP?

KLIP has the higher dividend yield at 27.43%, compared with 1.79% for JCHI.

What is the main difference between JCHI and KLIP?

They also come from different issuers: JPMorgan and KraneShares. Their fees differ too: 0.65% for JCHI and 0.95% for KLIP.

Which has better risk-adjusted returns?

JCHI currently has the higher Sharpe Ratio (0.60 vs -0.23), 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.