KBA vs. YXI
KBA (KraneShares Bosera MSCI China A Share ETF) and YXI (ProShares Short FTSE China 50) are both China Equities funds - KBA tracks the MSCI China A Index while YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 10 years, KBA returned 9.13%/yr vs -7.09%/yr for YXI. At a correlation of -0.68, they often move in opposite directions. KBA charges 0.60%/yr vs 0.95%/yr for YXI.
Performance
KBA vs. YXI - Performance Comparison
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Returns By Period
In the year-to-date period, KBA achieves a 6.54% return, which is significantly lower than YXI's 14.77% return. Over the past 10 years, KBA has outperformed YXI with an annualized return of 9.13%, while YXI has yielded a comparatively lower -7.09% annualized 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%
YXI
- 1D
- 0.36%
- 1M
- 4.81%
- 6M
- 21.88%
- YTD
- 14.77%
- 1Y
- 9.36%
- 3Y*
- -8.77%
- 5Y*
- -2.35%
- 10Y*
- -7.09%
KBA vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KBA KraneShares Bosera MSCI China A Share ETF | 6.54% | 33.88% | 15.73% | -16.77% | -3.49% | 3.17% | 41.62% | 35.44% | -26.28% | 30.69% |
YXI ProShares Short FTSE China 50 | 14.77% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
Correlation
The correlation between KBA and YXI is -0.55, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.71 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2014 | -0.68 |
The correlation between KBA and YXI shifts across timeframes, from -0.71 (10 years) to -0.55 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
KBA vs. YXI — Risk / Return Rank
KBA
YXI
KBA vs. YXI - 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 Short FTSE China 50 (YXI). 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 | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.09 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 4.58 | 0.83 | +3.76 |
| Martin ratioReturn relative to average drawdown | 10.82 | 1.66 | +9.17 |
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Drawdowns
KBA vs. YXI - Drawdown Comparison
The maximum KBA drawdown since its inception was -53.24%, smaller than the maximum YXI drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for KBA and YXI.
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Drawdown Indicators
| KBA | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.24% | -81.15% | +27.91% |
Max Drawdown (1Y)Largest decline over 1 year | -7.65% | -11.39% | +3.74% |
Max Drawdown (3Y)Largest decline over 3 years | -31.23% | -53.12% | +21.89% |
Max Drawdown (5Y)Largest decline over 5 years | -39.76% | -57.65% | +17.89% |
Max Drawdown (10Y)Largest decline over 10 years | -45.32% | -61.79% | +16.47% |
Current DrawdownCurrent decline from peak | -7.01% | -76.57% | +69.56% |
Average DrawdownAverage peak-to-trough decline | -25.62% | -54.43% | +28.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 6.14% | -2.91% |
Volatility
KBA vs. YXI - Volatility Comparison
KraneShares Bosera MSCI China A Share ETF (KBA) has a higher volatility of 9.07% compared to ProShares Short FTSE China 50 (YXI) at 7.41%. This indicates that KBA's price experiences larger fluctuations and is considered to be riskier than YXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBA | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.07% | 7.41% | +1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 15.47% | 15.74% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.01% | 20.65% | -0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.44% | 31.47% | -4.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.44% | 27.44% | -2.00% |
KBA vs. YXI - Expense Ratio Comparison
KBA has a 0.60% expense ratio, which is lower than YXI's 0.95% expense ratio.
Dividends
KBA vs. YXI - Dividend Comparison
KBA's dividend yield for the trailing twelve months is around 1.47%, less than YXI's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
YXI ProShares Short FTSE China 50 | 2.48% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KBA and YXI have a correlation of -0.55, 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 YXI (7.41%). In terms of maximum drawdown, KBA dropped -53.24% vs YXI's -81.15%.
On 10-year performance, KBA leads with 9.13% vs -7.09% for YXI. On fees, KBA is cheaper at 0.60% per year. On volatility, YXI has been the lower-risk option at 7.41%. 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 9.13% return vs -7.09%. 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 YXI.
YXI has the higher dividend yield at 2.48%, compared with 1.47% for KBA.
KBA tracks MSCI China A Index, while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%). They also come from different issuers: CICC and ProShares. Their fees differ too: 0.60% for KBA and 0.95% for YXI.
KBA currently has the higher Sharpe Ratio (1.76 vs 0.46), 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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