KEUA vs. KHYB

Last updated Jun 5, 2026

KEUA (KraneShares European Carbon Allowance Strategy ETF) and KHYB (KraneShares Asia Pacific High Income Bond ETF) are both exchange-traded funds - KEUA is a Commodities fund tracking the S&P Carbon Credit EUA Index, while KHYB is a Emerging Markets Bonds fund tracking the JP Morgan Asia Credit Index Non-Investment Grade Corporate Index.. Both are passively managed. At a 0.11 correlation, their price movements are largely independent. KEUA charges 0.87%/yr vs 0.69%/yr for KHYB.

Performance

KEUA vs. KHYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares European Carbon Allowance Strategy ETF (KEUA) and KraneShares Asia Pacific High Income Bond ETF (KHYB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KEUA

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KHYB

• 1D: 0.02%
• 1M: 1.16%
• YTD: 2.52%
• 6M: 3.51%
• 1Y: 10.48%
• 3Y*: 8.74%
• 5Y*: 0.18%
• 10Y*: —

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

KEUA vs. KHYB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
KEUA KraneShares European Carbon Allowance Strategy ETF	-19.02%	32.81%	-14.52%	-3.14%	-2.74%	22.01%
KHYB KraneShares Asia Pacific High Income Bond ETF	2.52%	9.59%	10.79%	3.50%	-10.15%	-6.40%

Correlation

The correlation between KEUA and KHYB is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021	0.11

Return for Risk

KEUA vs. KHYB — Risk / Return Rank

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

KHYB

KHYB Risk / Return Rank: 80
KHYB Sharpe Ratio Rank: 90
KHYB Sortino Ratio Rank: 94
KHYB Omega Ratio Rank: 95
KHYB Calmar Ratio Rank: 54
KHYB Martin Ratio Rank: 66

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.

KEUA vs. KHYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares European Carbon Allowance Strategy ETF (KEUA) and KraneShares Asia Pacific High Income Bond ETF (KHYB). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	KEUA	KHYB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.09	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.28	—

Drawdowns

Drawdown Indicators

	KEUA	KHYB	Difference
Max Drawdown Largest peak-to-trough decline	—	-33.63%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-3.97%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.86%	—
Current Drawdown Current decline from peak	—	-0.60%	—
Average Drawdown Average peak-to-trough decline	—	-9.71%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.88%	—

Volatility

Volatility by Period

	KEUA	KHYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.40%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	6.32%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	5.71%	—

KEUA vs. KHYB - Expense Ratio Comparison

KEUA has a 0.87% expense ratio, which is higher than KHYB's 0.69% expense ratio.

Dividends

KEUA vs. KHYB - Dividend Comparison

KEUA's dividend yield for the trailing twelve months is around 2.83%, less than KHYB's 8.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
KEUA KraneShares European Carbon Allowance Strategy ETF	2.83%	2.29%	7.71%	5.67%	0.00%	0.00%	0.00%	0.00%	0.00%
KHYB KraneShares Asia Pacific High Income Bond ETF	8.13%	7.59%	10.11%	15.55%	9.67%	6.22%	4.76%	4.86%	2.56%

Frequently Asked Questions

Can I hold both KEUA and KHYB in my portfolio?

KEUA and KHYB have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KEUA or KHYB?

On fees, KHYB is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KEUA or KHYB?

KHYB is cheaper with a 0.69% expense ratio, compared with 0.87% for KEUA.

Which ETF pays a higher dividend yield, KEUA or KHYB?

KHYB has the higher dividend yield at 8.13%, compared with 2.83% for KEUA.

What is the main difference between KEUA and KHYB?

KEUA is categorized as Commodities, while KHYB is Emerging Markets Bonds. KEUA tracks S&P Carbon Credit EUA Index, while KHYB tracks JP Morgan Asia Credit Index Non-Investment Grade Corporate Index.. Their fees differ too: 0.87% for KEUA and 0.69% for KHYB.