KCCA vs. KTEC
KCCA (KraneShares California Carbon Allowance Strategy ETF) and KTEC (KraneShares Hang Seng TECH Index ETF) are both exchange-traded funds - KCCA is a Commodities fund tracking the S&P Carbon Credit CCA Index, while KTEC is a China Equities fund tracking the Hang Seng Tech Index. Both are passively managed. Over the past 3 years, KCCA returned -6.84%/yr vs 0.64%/yr for KTEC. Their 0.03 correlation means their historical movements had little consistent relationship. KCCA charges 0.91%/yr vs 0.69%/yr for KTEC.
Performance
KCCA vs. KTEC - Performance Comparison
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Returns By Period
In the year-to-date period, KCCA achieves a 0.79% return, which is significantly higher than KTEC's -12.58% return.
KCCA
- 1D
- 1.58%
- 1M
- -0.80%
- 6M
- 11.36%
- YTD
- 0.79%
- 1Y
- 12.78%
- 3Y*
- -6.84%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.86%
KTEC
- 1D
- 0.81%
- 1M
- 10.40%
- 6M
- -14.54%
- YTD
- -12.58%
- 1Y
- -11.77%
- 3Y*
- 0.64%
- 5Y*
- -7.23%
- 10Y*
- —
- ALL TIME*
- -10.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $185.98K | $257.56K | $556.68K | |
| $941.66K | $1.10M | $1.04M |
KCCA vs. KTEC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KCCA KraneShares California Carbon Allowance Strategy ETF | 0.79% | -11.81% | -16.05% | 34.07% | -17.54% | 10.75% |
KTEC KraneShares Hang Seng TECH Index ETF | -12.58% | 21.01% | 16.13% | -10.41% | -26.12% | -3.87% |
Correlation
The correlation between KCCA and KTEC is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.01 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2021 | 0.03 |
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Return for Risk
KCCA vs. KTEC — Risk / Return Rank
KCCA
KTEC
KCCA vs. KTEC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares California Carbon Allowance Strategy ETF (KCCA) and KraneShares Hang Seng TECH Index ETF (KTEC). 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.
| KCCA | KTEC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.94 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | -0.38 | +1.21 |
| Martin ratioReturn relative to average drawdown | 1.45 | -0.67 | +2.11 |
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Drawdowns
KCCA vs. KTEC - Drawdown Comparison
The maximum KCCA drawdown since its inception was -40.88%, smaller than the maximum KTEC drawdown of -66.90%. Use the drawdown chart below to compare losses from any high point for KCCA and KTEC.
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Drawdown Indicators
| KCCA | KTEC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.88% | -66.90% | +26.02% |
Max Drawdown (1Y)Largest decline over 1 year | -15.30% | -36.49% | +21.19% |
Max Drawdown (3Y)Largest decline over 3 years | -40.88% | -36.49% | -4.39% |
Max Drawdown (5Y)Largest decline over 5 years | — | -60.08% | — |
Current DrawdownCurrent decline from peak | -28.54% | -44.83% | +16.29% |
Average DrawdownAverage peak-to-trough decline | -21.66% | -44.05% | +22.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.82% | 20.47% | -11.65% |
Volatility
KCCA vs. KTEC - Volatility Comparison
The current volatility for KraneShares California Carbon Allowance Strategy ETF (KCCA) is 3.56%, while KraneShares Hang Seng TECH Index ETF (KTEC) has a volatility of 7.27%. This indicates that KCCA experiences smaller price fluctuations and is considered to be less risky than KTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KCCA | KTEC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.56% | 7.27% | -3.71% |
Volatility (6M)Calculated over the trailing 6-month period | 7.09% | 20.32% | -13.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.69% | 28.20% | -12.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.73% | 42.63% | -18.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.73% | 42.75% | -19.02% |
KCCA vs. KTEC - Expense Ratio Comparison
KCCA has a 0.91% expense ratio, which is higher than KTEC's 0.69% expense ratio.
Dividends
KCCA vs. KTEC - Dividend Comparison
KCCA's dividend yield for the trailing twelve months is around 2.85%, less than KTEC's 3.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
KCCA KraneShares California Carbon Allowance Strategy ETF | 2.85% | 2.87% | 30.58% | 3.12% | 0.24% |
KTEC KraneShares Hang Seng TECH Index ETF | 3.84% | 3.36% | 0.27% | 0.81% | 0.16% |
Frequently Asked Questions
KCCA and KTEC have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KTEC has higher volatility (7.27%) compared to KCCA (3.56%). In terms of maximum drawdown, KCCA dropped -40.88% vs KTEC's -66.90%.
On 3-year performance, KTEC leads with 0.64% vs -6.84% for KCCA. On fees, KTEC is cheaper at 0.69% per year. On volatility, KCCA has been the lower-risk option at 3.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, KTEC has performed better with a 0.64% return vs -6.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KTEC is cheaper with a 0.69% expense ratio, compared with 0.91% for KCCA.
KTEC has the higher dividend yield at 3.84%, compared with 2.85% for KCCA.
KCCA is categorized as Commodities, while KTEC is China Equities. KCCA tracks S&P Carbon Credit CCA Index, while KTEC tracks Hang Seng Tech Index. Their fees differ too: 0.91% for KCCA and 0.69% for KTEC.
KCCA currently has the higher Sharpe Ratio (0.82 vs -0.49), 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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