JHDG vs. KSPY

Last updated Jul 28, 2026

JHDG (John Hancock Hedged Equity ETF) and KSPY (Kraneshares Hedgeye Hedged Equity Index ETF) are both Equity Hedged funds. JHDG is actively managed, while KSPY is passively managed. Their 0.73 correlation means they have sometimes moved together and sometimes differently. JHDG charges 0.49%/yr vs 0.78%/yr for KSPY.

Performance

JHDG vs. KSPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Hedged Equity ETF (JHDG) and Kraneshares Hedgeye Hedged Equity Index ETF (KSPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

JHDG

• 1D: -0.31%
• 1M: -0.79%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

KSPY

• 1D: 0.19%
• 1M: 2.27%
• 6M: 5.13%
• YTD: 7.15%
• 1Y: 15.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.20%

*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)
JHDG John Hancock Hedged Equity ETF	$1.11M	$1.05M	$1.10M
KSPY Kraneshares Hedgeye Hedged Equity Index ETF	$1.24M	$1.64M	$966.34K

JHDG vs. KSPY - Yearly Performance Comparison

	2026 (YTD)
JHDG John Hancock Hedged Equity ETF	5.74%
KSPY Kraneshares Hedgeye Hedged Equity Index ETF	6.42%

Correlation

The correlation between JHDG and KSPY 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 (All Time) Calculated using the full available price history since Apr 8, 2026	0.73

JHDG vs. KSPY - Sectors Allocation Comparison

Sectors	JHDG	KSPY
Technology	31.6%	37.9%
Consumer Cyclical	11.6%	9.6%
Healthcare	11.2%	9.1%
Financial Services	9.8%	11.7%
Industrials	8.3%	8.4%
Communication Services	8.1%	10.0%
Consumer Defensive	6.2%	4.6%
Energy	5.6%	3.0%
Basic Materials	4.7%	1.7%
Real Estate	2.2%	1.9%
Utilities	0.7%	2.3%

Return for Risk

JHDG vs. KSPY — Risk / Return Rank

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

JHDG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

KSPY

KSPY Risk / Return Rank: 89
KSPY Sharpe Ratio Rank: 87
KSPY Sortino Ratio Rank: 88
KSPY Omega Ratio Rank: 91
KSPY Calmar Ratio Rank: 86
KSPY Martin Ratio Rank: 93

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.

JHDG vs. KSPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Hedged Equity ETF (JHDG) and Kraneshares Hedgeye Hedged Equity Index ETF (KSPY). 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.

	JHDG	KSPY	Difference
Sharpe ratio: Return per unit of total volatility	—	2.04	—
Sortino ratio: Return per unit of downside risk	—	2.97	—
Omega ratio: Gain probability vs. loss probability	—	1.43	—
Calmar ratio: Return relative to maximum drawdown	—	3.47	—
Martin ratio: Return relative to average drawdown	—	17.29	—

Drawdowns

JHDG vs. KSPY - Drawdown Comparison

The maximum JHDG drawdown since its inception was -2.61%, smaller than the maximum KSPY drawdown of -11.67%. Use the drawdown chart below to compare losses from any high point for JHDG and KSPY.

Drawdown Indicators

	JHDG	KSPY	Difference
Max Drawdown Largest peak-to-trough decline	-2.61%	-11.67%	+9.06%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.46%	—
Current Drawdown Current decline from peak	-2.17%	-0.61%	-1.56%
Average Drawdown Average peak-to-trough decline	-0.66%	-1.14%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.89%	—

Volatility

Volatility by Period

	JHDG	KSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.16%	7.62%	+2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.16%	10.41%	-0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.16%	10.41%	-0.25%

JHDG vs. KSPY - Expense Ratio Comparison

JHDG has a 0.49% expense ratio, which is lower than KSPY's 0.78% expense ratio.

Dividends

JHDG vs. KSPY - Dividend Comparison

JHDG's dividend yield for the trailing twelve months is around 0.10%, less than KSPY's 5.75% yield.

Position	TTM	2025	2024
JHDG John Hancock Hedged Equity ETF	0.10%	0.00%	0.00%
KSPY Kraneshares Hedgeye Hedged Equity Index ETF	5.75%	6.16%	1.31%

Frequently Asked Questions

Can I hold both JHDG and KSPY in my portfolio?

JHDG and KSPY 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 ETF is better, JHDG or KSPY?

On fees, JHDG is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JHDG or KSPY?

JHDG is cheaper with a 0.49% expense ratio, compared with 0.78% for KSPY.

Which ETF pays a higher dividend yield, JHDG or KSPY?

KSPY has the higher dividend yield at 5.75%, compared with 0.10% for JHDG.

What is the main difference between JHDG and KSPY?

They also come from different issuers: John Hancock and KraneShares. Their fees differ too: 0.49% for JHDG and 0.78% for KSPY.