KARS vs. KSPY

Last updated Jun 24, 2026

KARS (KraneShares Electric Vehicles and Future Mobility Index ETF) and KSPY (Kraneshares Hedgeye Hedged Equity Index ETF) are both exchange-traded funds - KARS is a Industrials Equities fund tracking the Bloomberg Electric Vehicles Index, while KSPY is a Equity Hedged fund tracking the Hedgeye Hedged Equity Index. Both are passively managed. Over the past year, KARS returned 49.48% vs 16.25% for KSPY. At a 0.45 correlation, their price movements are largely independent. KARS charges 0.72%/yr vs 0.78%/yr for KSPY.

Performance

KARS vs. KSPY - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with KARS having a 5.04% return and KSPY slightly higher at 5.14%.

KARS

• 1D: -4.28%
• 1M: -9.61%
• YTD: 5.04%
• 6M: 4.08%
• 1Y: 49.48%
• 3Y*: 2.98%
• 5Y*: -4.78%
• 10Y*: —

KSPY

• 1D: -1.10%
• 1M: 0.10%
• YTD: 5.14%
• 6M: 4.57%
• 1Y: 16.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KARS vs. KSPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KARS KraneShares Electric Vehicles and Future Mobility Index ETF	5.04%	46.04%	2.45%
KSPY Kraneshares Hedgeye Hedged Equity Index ETF	5.14%	13.89%	3.51%

Correlation

The correlation between KARS and KSPY is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jul 16, 2024	0.45

KARS vs. KSPY - Sectors Allocation Comparison

Sectors	KARS	KSPY
Consumer Cyclical	33.5%	10.0%
Basic Materials	25.4%	1.7%
Industrials	22.1%	7.9%
Technology	19.0%	38.4%
Communication Services	-	10.8%
Consumer Defensive	-	4.6%
Energy	-	3.2%
Financial Services	-	11.0%
Healthcare	-	8.4%
Real Estate	-	1.8%
Utilities	-	2.1%

Return for Risk

KARS vs. KSPY — Risk / Return Rank

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

KARS

KARS Risk / Return Rank: 58
KARS Sharpe Ratio Rank: 56
KARS Sortino Ratio Rank: 50
KARS Omega Ratio Rank: 51
KARS Calmar Ratio Rank: 67
KARS Martin Ratio Rank: 64

KSPY

KSPY Risk / Return Rank: 81
KSPY Sharpe Ratio Rank: 75
KSPY Sortino Ratio Rank: 78
KSPY Omega Ratio Rank: 86
KSPY Calmar Ratio Rank: 77
KSPY Martin Ratio Rank: 90

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.

KARS vs. KSPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) 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.

	KARS	KSPY	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.20	-0.41
Sortino ratio: Return per unit of downside risk	2.31	3.17	-0.86
Omega ratio: Gain probability vs. loss probability	1.30	1.48	-0.18
Calmar ratio: Return relative to maximum drawdown	3.17	3.66	-0.49
Martin ratio: Return relative to average drawdown	10.99	18.92	-7.93

KARS vs. KSPY - Sharpe Ratio Comparison

The current KARS Sharpe Ratio is 1.79, which is comparable to the KSPY Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of KARS and KSPY, 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

KARS vs. KSPY - Drawdown Comparison

The maximum KARS drawdown since its inception was -64.85%, which is greater than KSPY's maximum drawdown of -11.67%. Use the drawdown chart below to compare losses from any high point for KARS and KSPY.

Drawdown Indicators

	KARS	KSPY	Difference
Max Drawdown Largest peak-to-trough decline	-64.85%	-11.67%	-53.18%
Max Drawdown (1Y) Largest decline over 1 year	-15.68%	-4.46%	-11.22%
Max Drawdown (3Y) Largest decline over 3 years	-47.79%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-64.85%	—	—
Current Drawdown Current decline from peak	-35.97%	-1.60%	-34.37%
Average Drawdown Average peak-to-trough decline	-28.34%	-1.17%	-27.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.51%	0.86%	+3.65%

Volatility

KARS vs. KSPY - Volatility Comparison

KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) has a higher volatility of 11.59% compared to Kraneshares Hedgeye Hedged Equity Index ETF (KSPY) at 2.91%. This indicates that KARS's price experiences larger fluctuations and is considered to be riskier than KSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KARS	KSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.59%	2.91%	+8.68%
Volatility (6M) Calculated over the trailing 6-month period	21.33%	6.07%	+15.26%
Volatility (1Y) Calculated over the trailing 1-year period	27.82%	7.44%	+20.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.09%	10.57%	+19.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.41%	10.57%	+18.84%

KARS vs. KSPY - Expense Ratio Comparison

KARS has a 0.72% expense ratio, which is lower than KSPY's 0.78% expense ratio.

Dividends

KARS vs. KSPY - Dividend Comparison

KARS's dividend yield for the trailing twelve months is around 0.17%, less than KSPY's 5.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
KARS KraneShares Electric Vehicles and Future Mobility Index ETF	0.17%	0.18%	0.78%	0.88%	1.13%	6.73%	0.14%	1.85%	1.38%
KSPY Kraneshares Hedgeye Hedged Equity Index ETF	5.86%	6.16%	1.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KARS and KSPY in my portfolio?

KARS and KSPY have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KARS or KSPY?

KARS has higher volatility (11.59%) compared to KSPY (2.91%). In terms of maximum drawdown, KARS dropped -64.85% vs KSPY's -11.67%.

Which ETF is better, KARS or KSPY?

On 1-year performance, KARS leads with 49.48% vs 16.25% for KSPY. On fees, KARS is cheaper at 0.72% per year. On volatility, KSPY has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KARS or KSPY?

Over the 1-year period, KARS has performed better with a 49.48% return vs 16.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KARS or KSPY?

KARS is cheaper with a 0.72% expense ratio, compared with 0.78% for KSPY.

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

KSPY has the higher dividend yield at 5.86%, compared with 0.17% for KARS.

What is the main difference between KARS and KSPY?

KARS is categorized as Industrials Equities, while KSPY is Equity Hedged. KARS tracks Bloomberg Electric Vehicles Index, while KSPY tracks Hedgeye Hedged Equity Index. Their fees differ too: 0.72% for KARS and 0.78% for KSPY.

Which has better risk-adjusted returns?

KSPY currently has the higher Sharpe Ratio (2.20 vs 1.79), 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.