KCAI vs. ISVBF
KCAI (KraneShares China Alpha Index ETF) and ISVBF (iShares MSCI China A UCITS ETF) are both China Equities funds - KCAI tracks the Qi China Alpha Index while ISVBF tracks the MSCI China A Inclusion Index. Both are passively managed. Over the past year, KCAI returned 38.58% vs -1.08% for ISVBF. At a 0.39 correlation, their price movements are largely independent. KCAI charges 0.79%/yr vs 0.40%/yr for ISVBF.
Performance
KCAI vs. ISVBF - Performance Comparison
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Returns By Period
In the year-to-date period, KCAI achieves a 4.38% return, which is significantly higher than ISVBF's -9.00% return.
KCAI
- 1D
- -1.84%
- 1M
- -2.62%
- 6M
- 4.21%
- YTD
- 4.38%
- 1Y
- 38.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ISVBF
- 1D
- -0.31%
- 1M
- 0.48%
- 6M
- -12.46%
- YTD
- -9.00%
- 1Y
- -1.08%
- 3Y*
- 8.53%
- 5Y*
- -5.39%
- 10Y*
- —
KCAI vs. ISVBF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KCAI KraneShares China Alpha Index ETF | 4.38% | 53.29% | 11.36% |
ISVBF iShares MSCI China A UCITS ETF | -9.00% | 30.64% | 14.61% |
Correlation
The correlation between KCAI and ISVBF is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Aug 28, 2024 | 0.39 |
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Return for Risk
KCAI vs. ISVBF — Risk / Return Rank
KCAI
ISVBF
KCAI vs. ISVBF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares China Alpha Index ETF (KCAI) and iShares MSCI China A UCITS ETF (ISVBF). 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 | ISVBF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.80 | ||
| Sortino ratioReturn per unit of downside risk | +3.81 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.02 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 6.57 | -0.05 | +6.62 |
| Martin ratioReturn relative to average drawdown | 20.62 | -0.10 | +20.72 |
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Drawdowns
KCAI vs. ISVBF - Drawdown Comparison
The maximum KCAI drawdown since its inception was -25.48%, smaller than the maximum ISVBF drawdown of -53.78%. Use the drawdown chart below to compare losses from any high point for KCAI and ISVBF.
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Drawdown Indicators
| KCAI | ISVBF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.48% | -53.78% | +28.30% |
Max Drawdown (1Y)Largest decline over 1 year | -5.90% | -24.14% | +18.24% |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.14% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -52.51% | — |
Current DrawdownCurrent decline from peak | -4.32% | -26.24% | +21.92% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -32.63% | +25.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 10.55% | -8.67% |
Volatility
KCAI vs. ISVBF - Volatility Comparison
The current volatility for KraneShares China Alpha Index ETF (KCAI) is 5.43%, while iShares MSCI China A UCITS ETF (ISVBF) has a volatility of 7.64%. This indicates that KCAI experiences smaller price fluctuations and is considered to be less risky than ISVBF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KCAI | ISVBF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.43% | 7.64% | -2.21% |
Volatility (6M)Calculated over the trailing 6-month period | 9.59% | 27.01% | -17.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.03% | 31.44% | -17.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.93% | 30.46% | -9.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.93% | 30.12% | -9.19% |
KCAI vs. ISVBF - Expense Ratio Comparison
KCAI has a 0.79% expense ratio, which is higher than ISVBF's 0.40% expense ratio.
Dividends
KCAI vs. ISVBF - Dividend Comparison
KCAI's dividend yield for the trailing twelve months is around 33.94%, while ISVBF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ISVBF iShares MSCI China A UCITS ETF | 0.00% | 0.00% | 0.00% |
KCAI KraneShares China Alpha Index ETF | 33.94% | 35.42% | 2.19% |
Frequently Asked Questions
KCAI and ISVBF have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISVBF has higher volatility (7.64%) compared to KCAI (5.43%). In terms of maximum drawdown, KCAI dropped -25.48% vs ISVBF's -53.78%.
On 1-year performance, KCAI leads with 38.58% vs -1.08% for ISVBF. On fees, ISVBF is cheaper at 0.40% per year. On volatility, KCAI has been the lower-risk option at 5.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KCAI has performed better with a 38.58% return vs -1.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISVBF is cheaper with a 0.40% expense ratio, compared with 0.79% for KCAI.
KCAI has the higher dividend yield at 33.94%, compared with 0.00% for ISVBF.
KCAI tracks Qi China Alpha Index, while ISVBF tracks MSCI China A Inclusion Index. They also come from different issuers: KraneShares and iShares. Their fees differ too: 0.79% for KCAI and 0.40% for ISVBF.
KCAI currently has the higher Sharpe Ratio (2.76 vs -0.03), 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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