KCAI vs. CN

Last updated Jun 27, 2026

KCAI (KraneShares China Alpha Index ETF) and CN (Xtrackers MSCI All China Equity ETF) are both China Equities funds - KCAI tracks the Qi China Alpha Index while CN tracks the MSCI China All Shares. Both are passively managed. KCAI charges 0.79%/yr vs 0.50%/yr for CN.

Performance

KCAI vs. CN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares China Alpha Index ETF (KCAI) and Xtrackers MSCI All China Equity ETF (CN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KCAI

• 1D: -1.13%
• 1M: -1.87%
• YTD: 4.28%
• 6M: 4.63%
• 1Y: 43.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CN

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

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

KCAI vs. CN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KCAI KraneShares China Alpha Index ETF	4.28%	53.29%	11.36%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%

KCAI vs. CN - Sectors Allocation Comparison

Sectors	KCAI	CN
Financial Services	39.0%	55.1%
Industrials	23.6%	1.0%
Technology	13.2%	0.3%
Consumer Cyclical	11.5%	5.4%
Basic Materials	11.3%	0.6%
Healthcare	1.3%	0.8%
Communication Services	-	0.4%
Consumer Defensive	-	0.3%
Energy	-	0.9%
Real Estate	-	0.8%
Utilities	-	0.2%

Return for Risk

KCAI vs. CN — Risk / Return Rank

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

KCAI

KCAI Risk / Return Rank: 95
KCAI Sharpe Ratio Rank: 95
KCAI Sortino Ratio Rank: 95
KCAI Omega Ratio Rank: 93
KCAI Calmar Ratio Rank: 97
KCAI Martin Ratio Rank: 96

CN

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

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.

KCAI vs. CN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares China Alpha Index ETF (KCAI) and Xtrackers MSCI All China Equity ETF (CN). 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.

	KCAI	CN	Difference
Sharpe ratio: Return per unit of total volatility	3.20	—	—
Sortino ratio: Return per unit of downside risk	4.57	—	—
Omega ratio: Gain probability vs. loss probability	1.56	—	—
Calmar ratio: Return relative to maximum drawdown	9.93	—	—
Martin ratio: Return relative to average drawdown	28.09	—	—

Drawdowns

Drawdown Indicators

	KCAI	CN	Difference
Max Drawdown Largest peak-to-trough decline	-25.48%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.41%	—	—
Current Drawdown Current decline from peak	-4.41%	—	—
Average Drawdown Average peak-to-trough decline	-6.99%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	—	—

Volatility

Volatility by Period

	KCAI	CN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.00%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.69%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.02%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.02%	—	—

KCAI vs. CN - Expense Ratio Comparison

KCAI has a 0.79% expense ratio, which is higher than CN's 0.50% expense ratio.

Dividends

KCAI vs. CN - Dividend Comparison

KCAI's dividend yield for the trailing twelve months is around 33.97%, while CN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%
KCAI KraneShares China Alpha Index ETF	33.97%	35.42%	2.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, KCAI or CN?

On fees, CN 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, KCAI or CN?

CN is cheaper with a 0.50% expense ratio, compared with 0.79% for KCAI.

Which ETF pays a higher dividend yield, KCAI or CN?

KCAI has the higher dividend yield at 33.97%, compared with 0.00% for CN.

What is the main difference between KCAI and CN?

KCAI tracks Qi China Alpha Index, while CN tracks MSCI China All Shares. They also come from different issuers: KraneShares and Deutsche Bank. Their fees differ too: 0.79% for KCAI and 0.50% for CN.