KBUF vs. IVVB
KBUF (KraneShares 90% KWEB Defined Outcome January 2026 ETF) and IVVB (iShares Large Cap Deep Buffer ETF) are both Options Trading funds. Both are actively managed. Over the past year, KBUF returned -3.49% vs 13.63% for IVVB. Their 0.36 correlation means their historical movements had little consistent relationship. KBUF charges 0.95%/yr vs 0.50%/yr for IVVB.
Performance
KBUF vs. IVVB - Performance Comparison
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Returns By Period
In the year-to-date period, KBUF achieves a -9.39% return, which is significantly lower than IVVB's 5.99% return.
KBUF
- 1D
- 0.45%
- 1M
- 6.29%
- 6M
- -11.08%
- YTD
- -9.39%
- 1Y
- -3.49%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.02%
IVVB
- 1D
- 0.95%
- 1M
- 1.30%
- 6M
- 4.20%
- YTD
- 5.99%
- 1Y
- 13.63%
- 3Y*
- 12.04%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $481.69K | $525.72K | $902.08K | |
| $6.79K | $35.72K | $167.86K |
KBUF vs. IVVB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF | -9.39% | 18.04% | 15.85% |
IVVB iShares Large Cap Deep Buffer ETF | 5.99% | 9.60% | 14.78% |
Correlation
The correlation between KBUF and IVVB is 0.43, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.43 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2024 | 0.36 |
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Return for Risk
KBUF vs. IVVB — Risk / Return Rank
KBUF
IVVB
KBUF vs. IVVB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF) and iShares Large Cap Deep Buffer ETF (IVVB). 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.
| KBUF | IVVB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.79 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.33 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 2.38 | -2.55 |
| Martin ratioReturn relative to average drawdown | -0.33 | 9.97 | -10.30 |
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Drawdowns
KBUF vs. IVVB - Drawdown Comparison
The maximum KBUF drawdown since its inception was -21.14%, which is greater than IVVB's maximum drawdown of -13.08%. Use the drawdown chart below to compare losses from any high point for KBUF and IVVB.
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Drawdown Indicators
| KBUF | IVVB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.14% | -13.08% | -8.06% |
Max Drawdown (1Y)Largest decline over 1 year | -21.14% | -5.75% | -15.39% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.08% | — |
Current DrawdownCurrent decline from peak | -14.74% | 0.00% | -14.74% |
Average DrawdownAverage peak-to-trough decline | -5.07% | -1.55% | -3.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.46% | 1.37% | +9.09% |
Volatility
KBUF vs. IVVB - Volatility Comparison
KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF) has a higher volatility of 3.46% compared to iShares Large Cap Deep Buffer ETF (IVVB) at 2.57%. This indicates that KBUF's price experiences larger fluctuations and is considered to be riskier than IVVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBUF | IVVB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.46% | 2.57% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 10.53% | 5.53% | +5.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.44% | 7.70% | +5.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.18% | 9.20% | +4.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.18% | 9.20% | +4.98% |
KBUF vs. IVVB - Expense Ratio Comparison
KBUF has a 0.95% expense ratio, which is higher than IVVB's 0.50% expense ratio.
Dividends
KBUF vs. IVVB - Dividend Comparison
KBUF's dividend yield for the trailing twelve months is around 8.29%, more than IVVB's 1.16% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IVVB iShares Large Cap Deep Buffer ETF | 1.16% | 1.22% | 0.87% |
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF | 8.29% | 7.51% | 3.53% |
Frequently Asked Questions
KBUF and IVVB have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KBUF has higher volatility (3.46%) compared to IVVB (2.57%). In terms of maximum drawdown, KBUF dropped -21.14% vs IVVB's -13.08%.
On 1-year performance, IVVB leads with 13.63% vs -3.49% for KBUF. On fees, IVVB is cheaper at 0.50% per year. On volatility, IVVB has been the lower-risk option at 2.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVB has performed better with a 13.63% return vs -3.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVB is cheaper with a 0.50% expense ratio, compared with 0.95% for KBUF.
KBUF has the higher dividend yield at 8.29%, compared with 1.16% for IVVB.
They also come from different issuers: KraneShares and iShares. Their fees differ too: 0.95% for KBUF and 0.50% for IVVB.
IVVB currently has the higher Sharpe Ratio (1.78 vs -0.26), 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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