KEMQ vs. KLIP

Last updated Aug 2, 2026

KEMQ (KraneShares Emerging Markets Consumer Technology Index ETF) and KLIP (KraneShares China Internet and Covered Call Strategy ETF) are both exchange-traded funds - KEMQ is a Emerging Markets Equities fund tracking the Solactive Emerging Markets Consumer Technology Index, while KLIP is a China Equities fund actively managed by KraneShares. KEMQ is passively managed, while KLIP is actively managed. Over the past 3 years, KEMQ returned 19.29%/yr vs 6.19%/yr for KLIP. Their 0.78 correlation means they have sometimes moved together and sometimes differently. KEMQ charges 0.60%/yr vs 0.95%/yr for KLIP.

Performance

KEMQ vs. KLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) and KraneShares China Internet and Covered Call Strategy ETF (KLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KEMQ achieves a 2.80% return, which is significantly higher than KLIP's -7.10% return.

KEMQ

• 1D: 0.36%
• 1M: 0.53%
• 6M: -6.01%
• YTD: 2.80%
• 1Y: 21.32%
• 3Y*: 19.29%
• 5Y*: -1.50%
• 10Y*: —
• ALL TIME*: 1.28%

KLIP

• 1D: 0.31%
• 1M: 6.50%
• 6M: -11.47%
• YTD: -7.10%
• 1Y: -3.45%
• 3Y*: 6.19%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.43%

*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)
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF	$173.00K	$157.77K	$320.60K
KLIP KraneShares China Internet and Covered Call Strategy ETF	$623.83K	$609.30K	$993.79K

KEMQ vs. KLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF	2.80%	56.28%	13.81%	-10.21%
KLIP KraneShares China Internet and Covered Call Strategy ETF	-7.10%	16.92%	3.37%	11.11%

Correlation

The correlation between KEMQ and KLIP is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023	0.78

The correlation between KEMQ and KLIP has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.

KEMQ vs. KLIP - Sectors Allocation Comparison

Sectors	KEMQ	KLIP
Technology	35.4%	4.2%
Consumer Cyclical	35.1%	34.2%
Communication Services	21.0%	45.8%
Consumer Defensive	3.2%	4.0%
Healthcare	2.8%	6.0%
Financial Services	2.7%	2.0%
Industrials	2.1%	-
Basic Materials	-	-
Energy	-	-
Real Estate	-	3.9%
Utilities	-	-

Return for Risk

KEMQ vs. KLIP — Risk / Return Rank

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

KEMQ

KEMQ Risk / Return Rank: 27
KEMQ Sharpe Ratio Rank: 28
KEMQ Sortino Ratio Rank: 28
KEMQ Omega Ratio Rank: 28
KEMQ Calmar Ratio Rank: 27
KEMQ Martin Ratio Rank: 26

KLIP

KLIP Risk / Return Rank: 7
KLIP Sharpe Ratio Rank: 7
KLIP Sortino Ratio Rank: 7
KLIP Omega Ratio Rank: 7
KLIP Calmar Ratio Rank: 8
KLIP 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.

KEMQ vs. KLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) and KraneShares China Internet and Covered Call Strategy ETF (KLIP). 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.

	KEMQ	KLIP	Difference
Sharpe ratio: Return per unit of total volatility	0.68	-0.26	+0.94
Sortino ratio: Return per unit of downside risk	1.09	-0.25	+1.33
Omega ratio: Gain probability vs. loss probability	1.13	0.97	+0.17
Calmar ratio: Return relative to maximum drawdown	0.86	-0.20	+1.06
Martin ratio: Return relative to average drawdown	2.09	-0.46	+2.56

KEMQ vs. KLIP - Sharpe Ratio Comparison

The current KEMQ Sharpe Ratio is 0.68, which is higher than the KLIP Sharpe Ratio of -0.26. The chart below compares the historical Sharpe Ratios of KEMQ and KLIP, 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

KEMQ vs. KLIP - Drawdown Comparison

The maximum KEMQ drawdown since its inception was -70.72%, which is greater than KLIP's maximum drawdown of -21.48%. Use the drawdown chart below to compare losses from any high point for KEMQ and KLIP.

Drawdown Indicators

	KEMQ	KLIP	Difference
Max Drawdown Largest peak-to-trough decline	-70.72%	-21.48%	-49.24%
Max Drawdown (1Y) Largest decline over 1 year	-21.94%	-21.48%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-21.94%	-21.48%	-0.46%
Max Drawdown (5Y) Largest decline over 5 years	-62.62%	—	—
Current Drawdown Current decline from peak	-30.95%	-12.44%	-18.51%
Average Drawdown Average peak-to-trough decline	-35.58%	-4.32%	-31.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.00%	9.19%	-0.19%

Volatility

KEMQ vs. KLIP - Volatility Comparison

KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) has a higher volatility of 7.59% compared to KraneShares China Internet and Covered Call Strategy ETF (KLIP) at 2.40%. This indicates that KEMQ's price experiences larger fluctuations and is considered to be riskier than KLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KEMQ	KLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.59%	2.40%	+5.19%
Volatility (6M) Calculated over the trailing 6-month period	23.01%	13.02%	+9.99%
Volatility (1Y) Calculated over the trailing 1-year period	27.84%	16.59%	+11.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.01%	17.99%	+14.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.61%	17.99%	+11.62%

KEMQ vs. KLIP - Expense Ratio Comparison

KEMQ has a 0.60% expense ratio, which is lower than KLIP's 0.95% expense ratio.

Dividends

KEMQ vs. KLIP - Dividend Comparison

KEMQ's dividend yield for the trailing twelve months is around 5.12%, less than KLIP's 27.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF	5.12%	5.27%	0.73%	0.29%	0.00%	0.28%	2.28%	1.76%
KLIP KraneShares China Internet and Covered Call Strategy ETF	27.63%	25.14%	54.26%	61.22%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KEMQ and KLIP in my portfolio?

KEMQ and KLIP have a correlation of 0.70, 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 KLIP?

KEMQ has higher volatility (7.59%) compared to KLIP (2.40%). In terms of maximum drawdown, KEMQ dropped -70.72% vs KLIP's -21.48%.

Which ETF is better, KEMQ or KLIP?

On 3-year performance, KEMQ leads with 19.29% vs 6.19% for KLIP. On fees, KEMQ is cheaper at 0.60% per year. On volatility, KLIP has been the lower-risk option at 2.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KEMQ or KLIP?

Over the 3-year period, KEMQ has performed better with a 19.29% return vs 6.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KEMQ or KLIP?

KEMQ is cheaper with a 0.60% expense ratio, compared with 0.95% for KLIP.

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

KLIP has the higher dividend yield at 27.63%, compared with 5.12% for KEMQ.

What is the main difference between KEMQ and KLIP?

KEMQ is categorized as Emerging Markets Equities, while KLIP is China Equities. They also come from different issuers: CICC and KraneShares. Their fees differ too: 0.60% for KEMQ and 0.95% for KLIP.

Which has better risk-adjusted returns?

KEMQ currently has the higher Sharpe Ratio (0.68 vs -0.26), 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.