KBND vs. OBOR

Last updated Jun 25, 2026

KBND (KraneShares Bloomberg China Bond Inclusion Index ETF) and OBOR (KraneShares MSCI One Belt One Road Index ETF) are both exchange-traded funds - KBND is a International Government Bonds fund tracking the KBND-US - Bloomberg China Inclusion Focused Bond Index, while OBOR is a Emerging Markets Equities fund tracking the MSCI Global China Infrastructure Exposure. Both are passively managed. At a 0.21 correlation, their price movements are largely independent. KBND charges 0.50%/yr vs 0.79%/yr for OBOR.

Performance

KBND vs. OBOR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Bloomberg China Bond Inclusion Index ETF (KBND) and KraneShares MSCI One Belt One Road Index ETF (OBOR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KBND

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

OBOR

• 1D: -1.91%
• 1M: -4.31%
• YTD: -2.21%
• 6M: -2.99%
• 1Y: 12.55%
• 3Y*: 10.40%
• 5Y*: 0.17%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

KBND vs. OBOR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KBND KraneShares Bloomberg China Bond Inclusion Index ETF	0.00%	0.00%	0.89%	3.13%	-6.81%	4.41%	9.38%	1.25%	-0.09%	0.06%
OBOR KraneShares MSCI One Belt One Road Index ETF	-2.21%	27.86%	8.55%	-7.91%	-21.96%	17.06%	13.47%	16.75%	-15.36%	1.30%

Correlation

The correlation between KBND and OBOR is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Sep 8, 2017	0.21

Return for Risk

KBND vs. OBOR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KBND

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

OBOR

OBOR Risk / Return Rank: 22
OBOR Sharpe Ratio Rank: 23
OBOR Sortino Ratio Rank: 21
OBOR Omega Ratio Rank: 23
OBOR Calmar Ratio Rank: 22
OBOR Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

KBND vs. OBOR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Bloomberg China Bond Inclusion Index ETF (KBND) and KraneShares MSCI One Belt One Road Index ETF (OBOR). 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.

	KBND	OBOR	Difference
Sharpe ratio: Return per unit of total volatility	—	0.75	—
Sortino ratio: Return per unit of downside risk	—	1.09	—
Omega ratio: Gain probability vs. loss probability	—	1.15	—
Calmar ratio: Return relative to maximum drawdown	—	0.92	—
Martin ratio: Return relative to average drawdown	—	2.57	—

Drawdowns

Drawdown Indicators

	KBND	OBOR	Difference
Max Drawdown Largest peak-to-trough decline	—	-41.54%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-13.72%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.00%	—
Current Drawdown Current decline from peak	—	-13.72%	—
Average Drawdown Average peak-to-trough decline	—	-15.94%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.90%	—

Volatility

Volatility by Period

	KBND	OBOR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.97%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	16.92%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	16.23%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.56%	—

KBND vs. OBOR - Expense Ratio Comparison

KBND has a 0.50% expense ratio, which is lower than OBOR's 0.79% expense ratio.

Dividends

KBND vs. OBOR - Dividend Comparison

KBND has not paid dividends to shareholders, while OBOR's dividend yield for the trailing twelve months is around 1.98%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KBND KraneShares Bloomberg China Bond Inclusion Index ETF	0.00%	0.00%	0.40%	2.20%	2.51%	6.97%	2.27%	3.47%	4.98%	0.00%	0.04%	1.16%
OBOR KraneShares MSCI One Belt One Road Index ETF	1.98%	1.94%	3.87%	3.40%	4.75%	3.26%	2.04%	4.33%	0.02%	0.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KBND and OBOR in my portfolio?

KBND and OBOR have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KBND or OBOR?

On fees, KBND is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KBND or OBOR?

KBND is cheaper with a 0.50% expense ratio, compared with 0.79% for OBOR.

Which ETF pays a higher dividend yield, KBND or OBOR?

OBOR has the higher dividend yield at 1.98%, compared with 0.00% for KBND.

What is the main difference between KBND and OBOR?

KBND is categorized as International Government Bonds, while OBOR is Emerging Markets Equities. KBND tracks KBND-US - Bloomberg China Inclusion Focused Bond Index, while OBOR tracks MSCI Global China Infrastructure Exposure. Their fees differ too: 0.50% for KBND and 0.79% for OBOR.