KBUF vs. XLRI

Last updated Aug 4, 2026

KBUF (KraneShares 90% KWEB Defined Outcome January 2026 ETF) and XLRI (State Street Real Estate Select Sector SPDR Premium Income ETF) are both exchange-traded funds - KBUF is a Options Trading fund actively managed by KraneShares, while XLRI is a Derivative Income fund actively managed by State Street. Both are actively managed. Over the past year, KBUF returned -3.49% vs 10.04% for XLRI. Their 0.11 correlation means their historical movements had little consistent relationship. KBUF charges 0.95%/yr vs 0.35%/yr for XLRI.

Performance

KBUF vs. XLRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KBUF achieves a -9.39% return, which is significantly lower than XLRI's 7.92% return.

KBUF

• 1D: 0.45%
• 1M: 6.29%
• 6M: -11.08%
• YTD: -9.39%
• 1Y: -3.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.02%

XLRI

• 1D: -0.49%
• 1M: 0.85%
• 6M: 6.33%
• YTD: 7.92%
• 1Y: 10.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.22%

*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)
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF	$6.79K	$35.72K	$167.86K
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	$67.65K	$68.45K	$64.14K

KBUF vs. XLRI - Yearly Performance Comparison

	2026 (YTD)	2025
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF	-9.39%	5.46%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	7.92%	-0.57%

Correlation

The correlation between KBUF and XLRI is 0.11, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.11
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.11

Return for Risk

KBUF vs. XLRI — Risk / Return Rank

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

KBUF

KBUF Risk / Return Rank: 7
KBUF Sharpe Ratio Rank: 7
KBUF Sortino Ratio Rank: 7
KBUF Omega Ratio Rank: 7
KBUF Calmar Ratio Rank: 8
KBUF Martin Ratio Rank: 8

XLRI

XLRI Risk / Return Rank: 36
XLRI Sharpe Ratio Rank: 35
XLRI Sortino Ratio Rank: 32
XLRI Omega Ratio Rank: 33
XLRI Calmar Ratio Rank: 38
XLRI Martin Ratio Rank: 42

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.

KBUF vs. XLRI - 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 State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). 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	XLRI	Difference
Sharpe ratio: Return per unit of total volatility	-0.26	0.92	-1.18
Sortino ratio: Return per unit of downside risk	-0.28	1.29	-1.56
Omega ratio: Gain probability vs. loss probability	0.97	1.17	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.17	1.42	-1.58
Martin ratio: Return relative to average drawdown	-0.33	4.95	-5.29

KBUF vs. XLRI - Sharpe Ratio Comparison

The current KBUF Sharpe Ratio is -0.26, which is lower than the XLRI Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of KBUF and XLRI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KBUF vs. XLRI - Drawdown Comparison

The maximum KBUF drawdown since its inception was -21.14%, which is greater than XLRI's maximum drawdown of -7.12%. Use the drawdown chart below to compare losses from any high point for KBUF and XLRI.

Drawdown Indicators

	KBUF	XLRI	Difference
Max Drawdown Largest peak-to-trough decline	-21.14%	-7.12%	-14.02%
Max Drawdown (1Y) Largest decline over 1 year	-21.14%	-7.12%	-14.02%
Current Drawdown Current decline from peak	-14.74%	-1.11%	-13.63%
Average Drawdown Average peak-to-trough decline	-5.07%	-1.54%	-3.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.46%	2.03%	+8.43%

Volatility

KBUF vs. XLRI - Volatility Comparison

KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI) have volatilities of 3.46% and 3.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KBUF	XLRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	3.34%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	10.53%	8.74%	+1.79%
Volatility (1Y) Calculated over the trailing 1-year period	13.44%	11.02%	+2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.18%	11.10%	+3.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.18%	11.10%	+3.08%

KBUF vs. XLRI - Expense Ratio Comparison

KBUF has a 0.95% expense ratio, which is higher than XLRI's 0.35% expense ratio.

Dividends

KBUF vs. XLRI - Dividend Comparison

KBUF's dividend yield for the trailing twelve months is around 8.29%, less than XLRI's 14.37% yield.

Position	TTM	2025	2024
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF	8.29%	7.51%	3.53%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	14.37%	6.85%	0.00%

Frequently Asked Questions

Can I hold both KBUF and XLRI in my portfolio?

KBUF and XLRI have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KBUF or XLRI?

KBUF has higher volatility (3.46%) compared to XLRI (3.34%). In terms of maximum drawdown, KBUF dropped -21.14% vs XLRI's -7.12%.

Which ETF is better, KBUF or XLRI?

On 1-year performance, XLRI leads with 10.04% vs -3.49% for KBUF. On fees, XLRI is cheaper at 0.35% per year. On volatility, XLRI has been the lower-risk option at 3.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KBUF or XLRI?

Over the 1-year period, XLRI has performed better with a 10.04% return vs -3.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KBUF or XLRI?

XLRI is cheaper with a 0.35% expense ratio, compared with 0.95% for KBUF.

Which ETF pays a higher dividend yield, KBUF or XLRI?

XLRI has the higher dividend yield at 14.37%, compared with 8.29% for KBUF.

What is the main difference between KBUF and XLRI?

KBUF is categorized as Options Trading, while XLRI is Derivative Income. They also come from different issuers: KraneShares and State Street. Their fees differ too: 0.95% for KBUF and 0.35% for XLRI.

Which has better risk-adjusted returns?

XLRI currently has the higher Sharpe Ratio (0.92 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.