KBA vs. IVOL
KBA (KraneShares Bosera MSCI China A Share ETF) and IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) are both exchange-traded funds - KBA is a China Equities fund tracking the MSCI China A Index, while IVOL is a Inflation-Protected Bonds fund actively managed by CICC. KBA is passively managed, while IVOL is actively managed. Over the past 5 years, KBA returned 5.89%/yr vs -5.77%/yr for IVOL. At a 0.04 correlation, their price movements are largely independent. KBA charges 0.60%/yr vs 0.99%/yr for IVOL.
Performance
KBA vs. IVOL - Performance Comparison
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Returns By Period
In the year-to-date period, KBA achieves a 6.54% return, which is significantly higher than IVOL's -8.36% return.
KBA
- 1D
- -1.26%
- 1M
- -2.80%
- 6M
- 3.29%
- YTD
- 6.54%
- 1Y
- 34.92%
- 3Y*
- 13.52%
- 5Y*
- 5.89%
- 10Y*
- 9.13%
IVOL
- 1D
- -0.29%
- 1M
- -1.83%
- 6M
- -7.05%
- YTD
- -8.36%
- 1Y
- -7.46%
- 3Y*
- -2.50%
- 5Y*
- -5.77%
- 10Y*
- —
KBA vs. IVOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
KBA KraneShares Bosera MSCI China A Share ETF | 6.54% | 33.88% | 15.73% | -16.77% | -3.49% | 3.17% | 41.62% | 16.03% |
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -8.36% | 11.97% | -11.07% | -5.18% | -12.69% | -0.31% | 14.56% | 3.35% |
Correlation
The correlation between KBA and IVOL is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.04 |
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Return for Risk
KBA vs. IVOL — Risk / Return Rank
KBA
IVOL
KBA vs. IVOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Bosera MSCI China A Share ETF (KBA) and Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). 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 | IVOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.87 | ||
| Sortino ratioReturn per unit of downside risk | +3.94 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.83 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 4.58 | -0.62 | +5.20 |
| Martin ratioReturn relative to average drawdown | 10.82 | -1.33 | +12.16 |
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Drawdowns
KBA vs. IVOL - Drawdown Comparison
The maximum KBA drawdown since its inception was -53.24%, which is greater than IVOL's maximum drawdown of -31.16%. Use the drawdown chart below to compare losses from any high point for KBA and IVOL.
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Drawdown Indicators
| KBA | IVOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.24% | -31.16% | -22.08% |
Max Drawdown (1Y)Largest decline over 1 year | -7.65% | -12.08% | +4.43% |
Max Drawdown (3Y)Largest decline over 3 years | -31.23% | -14.48% | -16.75% |
Max Drawdown (5Y)Largest decline over 5 years | -39.76% | -30.28% | -9.48% |
Max Drawdown (10Y)Largest decline over 10 years | -45.32% | — | — |
Current DrawdownCurrent decline from peak | -7.01% | -27.93% | +20.92% |
Average DrawdownAverage peak-to-trough decline | -25.62% | -13.49% | -12.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 5.60% | -2.37% |
Volatility
KBA vs. IVOL - Volatility Comparison
KraneShares Bosera MSCI China A Share ETF (KBA) has a higher volatility of 9.07% compared to Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) at 2.63%. This indicates that KBA's price experiences larger fluctuations and is considered to be riskier than IVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBA | IVOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.07% | 2.63% | +6.44% |
Volatility (6M)Calculated over the trailing 6-month period | 15.47% | 4.97% | +10.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.01% | 6.73% | +13.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.44% | 12.85% | +14.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.44% | 11.94% | +13.50% |
KBA vs. IVOL - Expense Ratio Comparison
KBA has a 0.60% expense ratio, which is lower than IVOL's 0.99% expense ratio.
Dividends
KBA vs. IVOL - Dividend Comparison
KBA's dividend yield for the trailing twelve months is around 1.47%, less than IVOL's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.95% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% | 0.00% | 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 IVOL 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.
KBA has higher volatility (9.07%) compared to IVOL (2.63%). In terms of maximum drawdown, KBA dropped -53.24% vs IVOL's -31.16%.
On 5-year performance, KBA leads with 5.89% vs -5.77% for IVOL. On fees, KBA is cheaper at 0.60% per year. On volatility, IVOL has been the lower-risk option at 2.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KBA has performed better with a 5.89% return vs -5.77%. 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 0.99% for IVOL.
IVOL has the higher dividend yield at 3.95%, compared with 1.47% for KBA.
KBA is categorized as China Equities, while IVOL is Inflation-Protected Bonds. Their fees differ too: 0.60% for KBA and 0.99% for IVOL.
KBA currently has the higher Sharpe Ratio (1.76 vs -1.11), 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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