KEMQ vs. IVOL

Last updated Jun 4, 2026

KEMQ (KraneShares Emerging Markets Consumer Technology Index ETF) and IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) are both exchange-traded funds - KEMQ is a Emerging Markets Equities fund tracking the Solactive Emerging Markets Consumer Technology Index, while IVOL is a Inflation-Protected Bonds fund actively managed by CICC. KEMQ is passively managed, while IVOL is actively managed. Over the past 5 years, KEMQ returned -2.87%/yr vs -5.77%/yr for IVOL. At a 0.01 correlation, their price movements are largely independent. KEMQ charges 0.60%/yr vs 0.99%/yr for IVOL.

Performance

KEMQ vs. IVOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) and Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KEMQ achieves a 6.99% return, which is significantly higher than IVOL's -6.33% return.

KEMQ

• 1D: -2.81%
• 1M: 7.12%
• YTD: 6.99%
• 6M: 8.35%
• 1Y: 36.95%
• 3Y*: 24.42%
• 5Y*: -2.87%
• 10Y*: —

IVOL

• 1D: -0.34%
• 1M: -3.62%
• YTD: -6.33%
• 6M: -7.21%
• 1Y: -5.59%
• 3Y*: -3.54%
• 5Y*: -5.77%
• 10Y*: —

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

KEMQ vs. IVOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF	6.99%	56.28%	13.81%	0.77%	-38.09%	-27.31%	39.26%	11.10%
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	-6.33%	11.97%	-11.07%	-5.18%	-12.69%	-0.31%	14.56%	3.23%

Correlation

The correlation between KEMQ and IVOL is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	-0.00
Correlation (All Time) Calculated using the full available price history since May 15, 2019	0.01

KEMQ vs. IVOL - Sectors Allocation Comparison

Sectors	KEMQ	IVOL
Technology	45.0%	-
Consumer Cyclical	33.0%	-
Communication Services	15.5%	-
Healthcare	3.5%	-
Consumer Defensive	0.4%	-
Basic Materials	-	-
Energy	-	-
Financial Services	-	77.1%
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

KEMQ vs. IVOL — Risk / Return Rank

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

KEMQ

KEMQ Risk / Return Rank: 36
KEMQ Sharpe Ratio Rank: 40
KEMQ Sortino Ratio Rank: 38
KEMQ Omega Ratio Rank: 38
KEMQ Calmar Ratio Rank: 34
KEMQ Martin Ratio Rank: 31

IVOL

IVOL Risk / Return Rank: 3
IVOL Sharpe Ratio Rank: 3
IVOL Sortino Ratio Rank: 3
IVOL Omega Ratio Rank: 3
IVOL Calmar Ratio Rank: 4
IVOL Martin Ratio Rank: 3

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.

KEMQ vs. IVOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) and Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). 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.

	KEMQ	IVOL	Difference
Sharpe ratio: Return per unit of total volatility	1.42	-0.81	+2.23
Sortino ratio: Return per unit of downside risk	2.00	-1.14	+3.14
Omega ratio: Gain probability vs. loss probability	1.25	0.88	+0.37
Calmar ratio: Return relative to maximum drawdown	1.69	-0.57	+2.26
Martin ratio: Return relative to average drawdown	4.52	-1.28	+5.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KEMQ vs. IVOL - Sharpe Ratio Comparison

The current KEMQ Sharpe Ratio is 1.42, which is higher than the IVOL Sharpe Ratio of -0.81. The chart below compares the historical Sharpe Ratios of KEMQ and IVOL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KEMQ	IVOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	-0.81	+2.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.09	-0.45	+0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	-0.11	+0.17

Drawdowns

KEMQ vs. IVOL - Drawdown Comparison

The maximum KEMQ drawdown since its inception was -70.72%, which is greater than IVOL's maximum drawdown of -31.16%. Use the drawdown chart below to compare losses from any high point for KEMQ and IVOL.

Drawdown Indicators

	KEMQ	IVOL	Difference
Max Drawdown Largest peak-to-trough decline	-70.72%	-31.16%	-39.56%
Max Drawdown (1Y) Largest decline over 1 year	-21.94%	-9.81%	-12.13%
Max Drawdown (3Y) Largest decline over 3 years	-21.94%	-16.63%	-5.31%
Max Drawdown (5Y) Largest decline over 5 years	-66.02%	-30.62%	-35.40%
Current Drawdown Current decline from peak	-28.14%	-26.33%	-1.81%
Average Drawdown Average peak-to-trough decline	-35.69%	-13.30%	-22.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.20%	4.38%	+3.82%

Volatility

KEMQ vs. IVOL - Volatility Comparison

KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) has a higher volatility of 10.09% compared to Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) at 1.07%. This indicates that KEMQ's price experiences larger fluctuations and is considered to be riskier than IVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KEMQ	IVOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.09%	1.07%	+9.02%
Volatility (6M) Calculated over the trailing 6-month period	20.87%	4.44%	+16.43%
Volatility (1Y) Calculated over the trailing 1-year period	26.14%	6.89%	+19.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.88%	12.84%	+19.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.58%	11.99%	+17.59%

KEMQ vs. IVOL - Expense Ratio Comparison

KEMQ has a 0.60% expense ratio, which is lower than IVOL's 0.99% expense ratio.

Dividends

KEMQ vs. IVOL - Dividend Comparison

KEMQ's dividend yield for the trailing twelve months is around 4.92%, more than IVOL's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	3.89%	3.61%	3.83%	3.73%	3.92%	3.93%	3.44%	2.02%
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF	4.92%	5.27%	0.73%	0.29%	0.00%	0.28%	2.28%	1.76%

Frequently Asked Questions

Can I hold both KEMQ and IVOL in my portfolio?

KEMQ and IVOL 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, KEMQ or IVOL?

KEMQ has higher volatility (10.09%) compared to IVOL (1.07%). In terms of maximum drawdown, KEMQ dropped -70.72% vs IVOL's -31.16%.

Which ETF is better, KEMQ or IVOL?

On 5-year performance, KEMQ leads with -2.87% vs -5.77% for IVOL. On fees, KEMQ is cheaper at 0.60% per year. On volatility, IVOL has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KEMQ or IVOL?

Over the 5-year period, KEMQ has performed better with a -2.87% return vs -5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KEMQ or IVOL?

KEMQ is cheaper with a 0.60% expense ratio, compared with 0.99% for IVOL.

Which ETF pays a higher dividend yield, KEMQ or IVOL?

KEMQ has the higher dividend yield at 4.92%, compared with 3.89% for IVOL.

What is the main difference between KEMQ and IVOL?

KEMQ is categorized as Emerging Markets Equities, while IVOL is Inflation-Protected Bonds. Their fees differ too: 0.60% for KEMQ and 0.99% for IVOL.

Which has better risk-adjusted returns?

KEMQ currently has the higher Sharpe Ratio (1.42 vs -0.81), 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.