KBA vs. FXP
KBA (KraneShares Bosera MSCI China A Share ETF) and FXP (ProShares UltraShort FTSE China 50) are both China Equities funds - KBA tracks the MSCI China A Index while FXP tracks the FTSE China 50 Net Tax USD (TR) (-200%). Both are passively managed. Over the past 10 years, KBA returned 9.23%/yr vs -22.26%/yr for FXP. Their -0.69 correlation means they have often moved in opposite directions in the past. KBA charges 0.60%/yr vs 0.95%/yr for FXP.
Performance
KBA vs. FXP - Performance Comparison
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Returns By Period
In the year-to-date period, KBA achieves a 6.21% return, which is significantly higher than FXP's 5.71% return. Over the past 10 years, KBA has outperformed FXP with an annualized return of 9.23%, while FXP has yielded a comparatively lower -22.26% annualized return.
KBA
- 1D
- -0.88%
- 1M
- 0.24%
- 6M
- 7.78%
- YTD
- 6.21%
- 1Y
- 32.90%
- 3Y*
- 12.04%
- 5Y*
- 6.35%
- 10Y*
- 9.23%
- ALL TIME*
- 9.44%
FXP
- 1D
- 0.50%
- 1M
- -24.31%
- 6M
- 11.53%
- YTD
- 5.71%
- 1Y
- -4.88%
- 3Y*
- -28.07%
- 5Y*
- -20.84%
- 10Y*
- -22.26%
- ALL TIME*
- -28.47%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $93.60K | $89.25K | $94.70K | |
| $823.16K | $863.47K | $2.10M |
KBA vs. FXP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KBA KraneShares Bosera MSCI China A Share ETF | 6.21% | 33.88% | 15.73% | -16.77% | -3.49% | 3.17% | 41.62% | 35.44% | -26.28% | 30.69% |
FXP ProShares UltraShort FTSE China 50 | 5.71% | -45.32% | -52.46% | 12.74% | -11.73% | 23.56% | -39.47% | -29.01% | 12.45% | -49.76% |
Correlation
The correlation between KBA and FXP is -0.56, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.56 |
Correlation (3Y) Balances recent behavior with more history. | -0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.70 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.72 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2014 | -0.69 |
The correlation between KBA and FXP shifts across timeframes, from -0.72 (10 years) to -0.56 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
KBA vs. FXP — Risk / Return Rank
KBA
FXP
KBA vs. FXP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Bosera MSCI China A Share ETF (KBA) and ProShares UltraShort FTSE China 50 (FXP). 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.
| KBA | FXP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.01 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.97 | -0.19 | +4.16 |
| Martin ratioReturn relative to average drawdown | 9.40 | -0.42 | +9.82 |
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Drawdowns
KBA vs. FXP - Drawdown Comparison
The maximum KBA drawdown since its inception was -53.24%, smaller than the maximum FXP drawdown of -99.94%. Use the drawdown chart below to compare losses from any high point for KBA and FXP.
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Drawdown Indicators
| KBA | FXP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.24% | -99.94% | +46.70% |
Max Drawdown (1Y)Largest decline over 1 year | -8.33% | -25.65% | +17.32% |
Max Drawdown (3Y)Largest decline over 3 years | -31.23% | -82.34% | +51.11% |
Max Drawdown (5Y)Largest decline over 5 years | -39.76% | -87.85% | +48.09% |
Max Drawdown (10Y)Largest decline over 10 years | -45.32% | -93.56% | +48.24% |
Current DrawdownCurrent decline from peak | -7.29% | -99.92% | +92.63% |
Average DrawdownAverage peak-to-trough decline | -25.53% | -94.18% | +68.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 12.80% | -9.29% |
Volatility
KBA vs. FXP - Volatility Comparison
The current volatility for KraneShares Bosera MSCI China A Share ETF (KBA) is 7.91%, while ProShares UltraShort FTSE China 50 (FXP) has a volatility of 11.12%. This indicates that KBA experiences smaller price fluctuations and is considered to be less risky than FXP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBA | FXP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.91% | 11.12% | -3.21% |
Volatility (6M)Calculated over the trailing 6-month period | 16.42% | 29.50% | -13.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.87% | 40.68% | -19.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.34% | 62.74% | -35.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.51% | 54.82% | -29.31% |
KBA vs. FXP - Expense Ratio Comparison
KBA has a 0.60% expense ratio, which is lower than FXP's 0.95% expense ratio.
Dividends
KBA vs. FXP - Dividend Comparison
KBA's dividend yield for the trailing twelve months is around 1.47%, less than FXP's 3.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 3.40% | 9.57% | 3.55% | 2.20% | 0.06% | 0.00% | 0.06% | 1.20% | 0.16% | 0.00% | 0.00% | 0.00% |
KBA KraneShares Bosera MSCI China A Share ETF | 1.47% | 1.56% | 2.18% | 2.34% | 49.05% | 9.07% | 0.65% | 1.53% | 3.77% | 1.46% | 6.62% | 29.08% |
Frequently Asked Questions
KBA and FXP have a correlation of -0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXP has higher volatility (11.12%) compared to KBA (7.91%). In terms of maximum drawdown, KBA dropped -53.24% vs FXP's -99.94%.
On 10-year performance, KBA leads with 9.23% vs -22.26% for FXP. On fees, KBA is cheaper at 0.60% per year. On volatility, KBA has been the lower-risk option at 7.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, KBA has performed better with a 9.23% return vs -22.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBA is cheaper with a 0.60% expense ratio, compared with 0.95% for FXP.
FXP has the higher dividend yield at 3.40%, compared with 1.47% for KBA.
KBA tracks MSCI China A Index, while FXP tracks FTSE China 50 Net Tax USD (TR) (-200%). They also come from different issuers: CICC and ProShares. Their fees differ too: 0.60% for KBA and 0.95% for FXP.
KBA currently has the higher Sharpe Ratio (1.59 vs -0.12), 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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