KBAB vs. TERG

Last updated Aug 2, 2026

KBAB (KraneShares 2x Long BABA Daily ETF) and TERG (Leverage Shares 2X Long TER Daily ETF) are both Leveraged Equities funds. Both are actively managed. Their 0.25 correlation means their historical movements had little consistent relationship. KBAB charges 1.00%/yr vs 0.75%/yr for TERG.

Performance

KBAB vs. TERG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares 2x Long BABA Daily ETF (KBAB) and Leverage Shares 2X Long TER Daily ETF (TERG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KBAB achieves a -39.99% return, which is significantly lower than TERG's 118.24% return.

KBAB

• 1D: 10.58%
• 1M: 57.00%
• 6M: -53.74%
• YTD: -39.99%
• 1Y: -16.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -34.14%

TERG

• 1D: 1.38%
• 1M: -8.01%
• 6M: 44.99%
• YTD: 118.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
KBAB KraneShares 2x Long BABA Daily ETF	$69.43K	$174.57K	$194.23K
TERG Leverage Shares 2X Long TER Daily ETF	$2.08M	$2.39M	$4.94M

KBAB vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
KBAB KraneShares 2x Long BABA Daily ETF	-39.99%	-11.12%
TERG Leverage Shares 2X Long TER Daily ETF	118.24%	20.91%

Correlation

The correlation between KBAB and TERG is 0.25, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025	0.25

Return for Risk

KBAB vs. TERG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KBAB

KBAB Risk / Return Rank: 9
KBAB Sharpe Ratio Rank: 7
KBAB Sortino Ratio Rank: 13
KBAB Omega Ratio Rank: 12
KBAB Calmar Ratio Rank: 7
KBAB Martin Ratio Rank: 8

TERG

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KBAB vs. TERG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares 2x Long BABA Daily ETF (KBAB) and Leverage Shares 2X Long TER Daily ETF (TERG). 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.

	KBAB	TERG	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	—	—
Sortino ratio: Return per unit of downside risk	0.27	—	—
Omega ratio: Gain probability vs. loss probability	1.03	—	—
Calmar ratio: Return relative to maximum drawdown	-0.28	—	—
Martin ratio: Return relative to average drawdown	-0.47	—	—

Drawdowns

KBAB vs. TERG - Drawdown Comparison

The maximum KBAB drawdown since its inception was -78.98%, which is greater than TERG's maximum drawdown of -60.59%. Use the drawdown chart below to compare losses from any high point for KBAB and TERG.

Drawdown Indicators

	KBAB	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-78.98%	-60.59%	-18.39%
Max Drawdown (1Y) Largest decline over 1 year	-78.98%	—	—
Current Drawdown Current decline from peak	-66.20%	-48.67%	-17.53%
Average Drawdown Average peak-to-trough decline	-41.21%	-18.83%	-22.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.15%	—	—

Volatility

Volatility by Period

	KBAB	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.65%	—	—
Volatility (6M) Calculated over the trailing 6-month period	57.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	90.35%	158.05%	-67.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.76%	158.05%	-67.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.76%	158.05%	-67.29%

KBAB vs. TERG - Expense Ratio Comparison

KBAB has a 1.00% expense ratio, which is higher than TERG's 0.75% expense ratio.

Dividends

KBAB vs. TERG - Dividend Comparison

KBAB's dividend yield for the trailing twelve months is around 99.78%, while TERG has not paid dividends to shareholders.

Position	TTM	2025
KBAB KraneShares 2x Long BABA Daily ETF	99.78%	59.88%
TERG Leverage Shares 2X Long TER Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both KBAB and TERG in my portfolio?

KBAB and TERG have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KBAB or TERG?

On fees, TERG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KBAB or TERG?

TERG is cheaper with a 0.75% expense ratio, compared with 1.00% for KBAB.

Which ETF pays a higher dividend yield, KBAB or TERG?

KBAB has the higher dividend yield at 99.78%, compared with 0.00% for TERG.

What is the main difference between KBAB and TERG?

They also come from different issuers: KraneShares and Leverage Shares. Their fees differ too: 1.00% for KBAB and 0.75% for TERG.