KBDU vs. FXP
KBDU (KraneShares 2X Long BIDU Daily ETF) and FXP (ProShares UltraShort FTSE China 50) are both China Equities funds. KBDU is actively managed, while FXP is passively managed. At a correlation of -0.63, they often move in opposite directions. KBDU charges 1.26%/yr vs 0.95%/yr for FXP.
Performance
KBDU vs. FXP - Performance Comparison
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Returns By Period
In the year-to-date period, KBDU achieves a -39.04% return, which is significantly lower than FXP's 17.49% return.
KBDU
- 1D
- 2.38%
- 1M
- -2.52%
- 6M
- -52.02%
- YTD
- -39.04%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FXP
- 1D
- -0.83%
- 1M
- -0.77%
- 6M
- 29.15%
- YTD
- 17.49%
- 1Y
- 9.66%
- 3Y*
- -27.59%
- 5Y*
- -17.29%
- 10Y*
- -21.55%
KBDU vs. FXP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KBDU KraneShares 2X Long BIDU Daily ETF | -39.04% | 19.79% |
FXP ProShares UltraShort FTSE China 50 | 17.49% | 2.66% |
Correlation
The correlation between KBDU and FXP is -0.63, 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 (All Time) Calculated using the full available price history since Nov 20, 2025 | -0.63 |
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Return for Risk
KBDU vs. FXP — Risk / Return Rank
KBDU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FXP
KBDU vs. FXP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares 2X Long BIDU Daily ETF (KBDU) 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.
| KBDU | FXP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.07 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.44 | — |
| Martin ratioReturn relative to average drawdown | — | 0.80 | — |
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Drawdowns
KBDU vs. FXP - Drawdown Comparison
The maximum KBDU drawdown since its inception was -64.77%, smaller than the maximum FXP drawdown of -99.94%. Use the drawdown chart below to compare losses from any high point for KBDU and FXP.
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Drawdown Indicators
| KBDU | FXP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.77% | -99.94% | +35.17% |
Max Drawdown (1Y)Largest decline over 1 year | — | -21.99% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -82.34% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -87.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.71% | — |
Current DrawdownCurrent decline from peak | -59.22% | -99.92% | +40.70% |
Average DrawdownAverage peak-to-trough decline | -33.76% | -94.17% | +60.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 12.04% | — |
Volatility
KBDU vs. FXP - Volatility Comparison
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Volatility by Period
| KBDU | FXP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 13.71% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 29.15% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 102.68% | 40.14% | +62.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 102.68% | 63.18% | +39.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.68% | 54.76% | +47.92% |
KBDU vs. FXP - Expense Ratio Comparison
KBDU has a 1.26% expense ratio, which is higher than FXP's 0.95% expense ratio.
Dividends
KBDU vs. FXP - Dividend Comparison
KBDU has not paid dividends to shareholders, while FXP's dividend yield for the trailing twelve months is around 3.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 3.06% | 9.57% | 3.55% | 2.20% | 0.06% | 0.00% | 0.06% | 1.20% | 0.16% |
KBDU KraneShares 2X Long BIDU Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KBDU and FXP have a correlation of -0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FXP is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FXP is cheaper with a 0.95% expense ratio, compared with 1.26% for KBDU.
FXP has the higher dividend yield at 3.06%, compared with 0.00% for KBDU.
They also come from different issuers: KraneShares and ProShares. Their fees differ too: 1.26% for KBDU and 0.95% for FXP.
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