KBUF vs. IVVM
KBUF (KraneShares 90% KWEB Defined Outcome January 2026 ETF) and IVVM (iShares Large Cap Moderate Buffer ETF) are both Options Trading funds. Both are actively managed. Over the past year, KBUF returned -8.32% vs 14.52% for IVVM. At a 0.38 correlation, their price movements are largely independent. KBUF charges 0.95%/yr vs 0.50%/yr for IVVM.
Performance
KBUF vs. IVVM - Performance Comparison
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Returns By Period
In the year-to-date period, KBUF achieves a -15.02% return, which is significantly lower than IVVM's 5.35% return.
KBUF
- 1D
- -0.06%
- 1M
- -4.18%
- YTD
- -15.02%
- 6M
- -15.46%
- 1Y
- -8.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVM
- 1D
- -0.62%
- 1M
- -0.24%
- YTD
- 5.35%
- 6M
- 4.81%
- 1Y
- 14.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KBUF vs. IVVM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF | -15.02% | 18.04% | 15.85% |
IVVM iShares Large Cap Moderate Buffer ETF | 5.35% | 14.24% | 13.04% |
Correlation
The correlation between KBUF and IVVM is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2024 | 0.38 |
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Return for Risk
KBUF vs. IVVM — Risk / Return Rank
KBUF
IVVM
KBUF vs. IVVM - 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 Moderate Buffer ETF (IVVM). 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 | IVVM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.67 | ||
| Sortino ratioReturn per unit of downside risk | -3.73 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.41 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 2.75 | -3.17 |
| Martin ratioReturn relative to average drawdown | -0.97 | 13.53 | -14.50 |
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Drawdowns
KBUF vs. IVVM - Drawdown Comparison
The maximum KBUF drawdown since its inception was -20.04%, which is greater than IVVM's maximum drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for KBUF and IVVM.
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Drawdown Indicators
| KBUF | IVVM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.04% | -11.62% | -8.42% |
Max Drawdown (1Y)Largest decline over 1 year | -20.04% | -5.31% | -14.73% |
Current DrawdownCurrent decline from peak | -20.04% | -0.79% | -19.25% |
Average DrawdownAverage peak-to-trough decline | -4.46% | -0.91% | -3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.58% | 1.08% | +7.50% |
Volatility
KBUF vs. IVVM - Volatility Comparison
KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF) has a higher volatility of 4.13% compared to iShares Large Cap Moderate Buffer ETF (IVVM) at 1.88%. This indicates that KBUF's price experiences larger fluctuations and is considered to be riskier than IVVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KBUF | IVVM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.13% | 1.88% | +2.25% |
Volatility (6M)Calculated over the trailing 6-month period | 10.68% | 5.76% | +4.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.13% | 7.21% | +5.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.27% | 9.59% | +4.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.27% | 9.59% | +4.68% |
KBUF vs. IVVM - Expense Ratio Comparison
KBUF has a 0.95% expense ratio, which is higher than IVVM's 0.50% expense ratio.
Dividends
KBUF vs. IVVM - Dividend Comparison
KBUF's dividend yield for the trailing twelve months is around 8.84%, more than IVVM's 0.65% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IVVM iShares Large Cap Moderate Buffer ETF | 0.65% | 0.68% | 0.62% |
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF | 8.84% | 7.51% | 3.53% |
Frequently Asked Questions
KBUF and IVVM have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KBUF has higher volatility (4.13%) compared to IVVM (1.88%). In terms of maximum drawdown, KBUF dropped -20.04% vs IVVM's -11.62%.
On 1-year performance, IVVM leads with 14.52% vs -8.32% for KBUF. On fees, IVVM is cheaper at 0.50% per year. On volatility, IVVM has been the lower-risk option at 1.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVM has performed better with a 14.52% return vs -8.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVM is cheaper with a 0.50% expense ratio, compared with 0.95% for KBUF.
KBUF has the higher dividend yield at 8.84%, compared with 0.65% for IVVM.
They also come from different issuers: KraneShares and iShares. Their fees differ too: 0.95% for KBUF and 0.50% for IVVM.
IVVM currently has the higher Sharpe Ratio (2.03 vs -0.64), 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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