KCSH vs. KBUF

Last updated Aug 2, 2026

KCSH (KraneShares Sustainable Ultra Short Duration Index ETF) and KBUF (KraneShares 90% KWEB Defined Outcome January 2026 ETF) are both exchange-traded funds - KCSH is a Ultrashort Bond fund tracking the Solactive ISS Sustainable Select 0-1 Year USD Corporate IG Index, while KBUF is a Options Trading fund actively managed by KraneShares. KCSH is passively managed, while KBUF is actively managed. Over the past year, KCSH returned 3.93% vs -3.91% for KBUF. Their 0.08 correlation means their historical movements had little consistent relationship. KCSH charges 0.20%/yr vs 0.95%/yr for KBUF.

Performance

KCSH vs. KBUF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Sustainable Ultra Short Duration Index ETF (KCSH) and KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KCSH achieves a 2.10% return, which is significantly higher than KBUF's -9.79% return.

KCSH

• 1D: 0.10%
• 1M: 0.27%
• 6M: 1.79%
• YTD: 2.10%
• 1Y: 3.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.28%

KBUF

• 1D: 0.58%
• 1M: 5.82%
• 6M: -11.81%
• YTD: -9.79%
• 1Y: -3.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.85%

*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	$6.48K	$73.40K	$165.07K
KCSH KraneShares Sustainable Ultra Short Duration Index ETF	$1.01M	$483.51K	$350.21K

KCSH vs. KBUF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KCSH KraneShares Sustainable Ultra Short Duration Index ETF	2.10%	4.49%	1.98%
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF	-9.79%	18.04%	9.54%

Correlation

The correlation between KCSH and KBUF is 0.04, 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.	0.04
Correlation (All Time) Calculated using the full available price history since Jul 26, 2024	0.08

Return for Risk

KCSH vs. KBUF — Risk / Return Rank

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

KCSH

KCSH Risk / Return Rank: 97
KCSH Sharpe Ratio Rank: 97
KCSH Sortino Ratio Rank: 96
KCSH Omega Ratio Rank: 98
KCSH Calmar Ratio Rank: 97
KCSH Martin Ratio Rank: 98

KBUF

KBUF Risk / Return Rank: 7
KBUF Sharpe Ratio Rank: 7
KBUF Sortino Ratio Rank: 6
KBUF Omega Ratio Rank: 6
KBUF Calmar Ratio Rank: 8
KBUF Martin Ratio Rank: 8

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.

KCSH vs. KBUF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Sustainable Ultra Short Duration Index ETF (KCSH) and KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF). 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.

	KCSH	KBUF	Difference
Sharpe ratio: Return per unit of total volatility	3.24	-0.35	+3.59
Sortino ratio: Return per unit of downside risk	4.57	-0.40	+4.97
Omega ratio: Gain probability vs. loss probability	2.12	0.95	+1.17
Calmar ratio: Return relative to maximum drawdown	6.89	-0.22	+7.11
Martin ratio: Return relative to average drawdown	59.12	-0.45	+59.56

KCSH vs. KBUF - Sharpe Ratio Comparison

The current KCSH Sharpe Ratio is 3.24, which is higher than the KBUF Sharpe Ratio of -0.35. The chart below compares the historical Sharpe Ratios of KCSH and KBUF, 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

KCSH vs. KBUF - Drawdown Comparison

The maximum KCSH drawdown since its inception was -0.58%, smaller than the maximum KBUF drawdown of -21.14%. Use the drawdown chart below to compare losses from any high point for KCSH and KBUF.

Drawdown Indicators

	KCSH	KBUF	Difference
Max Drawdown Largest peak-to-trough decline	-0.58%	-21.14%	+20.56%
Max Drawdown (1Y) Largest decline over 1 year	-0.58%	-21.14%	+20.56%
Current Drawdown Current decline from peak	0.00%	-15.12%	+15.12%
Average Drawdown Average peak-to-trough decline	-0.03%	-5.05%	+5.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.07%	10.42%	-10.35%

Volatility

KCSH vs. KBUF - Volatility Comparison

The current volatility for KraneShares Sustainable Ultra Short Duration Index ETF (KCSH) is 0.21%, while KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF) has a volatility of 3.57%. This indicates that KCSH experiences smaller price fluctuations and is considered to be less risky than KBUF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KCSH	KBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.21%	3.57%	-3.36%
Volatility (6M) Calculated over the trailing 6-month period	0.39%	10.57%	-10.18%
Volatility (1Y) Calculated over the trailing 1-year period	1.24%	13.44%	-12.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.29%	14.19%	-12.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.29%	14.19%	-12.90%

KCSH vs. KBUF - Expense Ratio Comparison

KCSH has a 0.20% expense ratio, which is lower than KBUF's 0.95% expense ratio.

Dividends

KCSH vs. KBUF - Dividend Comparison

KCSH's dividend yield for the trailing twelve months is around 3.93%, less than KBUF's 8.33% yield.

Position	TTM	2025	2024
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF	8.33%	7.51%	3.53%
KCSH KraneShares Sustainable Ultra Short Duration Index ETF	3.93%	4.35%	2.08%

Frequently Asked Questions

Can I hold both KCSH and KBUF in my portfolio?

KCSH and KBUF have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KCSH or KBUF?

KBUF has higher volatility (3.57%) compared to KCSH (0.21%). In terms of maximum drawdown, KCSH dropped -0.58% vs KBUF's -21.14%.

Which ETF is better, KCSH or KBUF?

On 1-year performance, KCSH leads with 3.93% vs -3.91% for KBUF. On fees, KCSH is cheaper at 0.20% per year. On volatility, KCSH has been the lower-risk option at 0.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KCSH or KBUF?

Over the 1-year period, KCSH has performed better with a 3.93% return vs -3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KCSH or KBUF?

KCSH is cheaper with a 0.20% expense ratio, compared with 0.95% for KBUF.

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

KBUF has the higher dividend yield at 8.33%, compared with 3.93% for KCSH.

What is the main difference between KCSH and KBUF?

KCSH is categorized as Ultrashort Bond, while KBUF is Options Trading. Their fees differ too: 0.20% for KCSH and 0.95% for KBUF.

Which has better risk-adjusted returns?

KCSH currently has the higher Sharpe Ratio (3.24 vs -0.35), 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.