KEUA vs. TSEC

Last updated Jun 4, 2026

KEUA (KraneShares European Carbon Allowance Strategy ETF) and TSEC (Touchstone Securitized Income ETF) are both exchange-traded funds - KEUA is a Commodities fund tracking the S&P Carbon Credit EUA Index, while TSEC is a Short-Term Bond fund actively managed by Touchstone. KEUA is passively managed, while TSEC is actively managed. At a 0.00 correlation, their price movements are largely independent. KEUA charges 0.87%/yr vs 0.40%/yr for TSEC.

Performance

KEUA vs. TSEC - Performance Comparison

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

Returns By Period

KEUA

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

TSEC

• 1D: -0.02%
• 1M: 0.51%
• YTD: 1.26%
• 6M: 1.95%
• 1Y: 6.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KEUA vs. TSEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KEUA KraneShares European Carbon Allowance Strategy ETF	-19.02%	32.81%	-14.52%	-13.75%
TSEC Touchstone Securitized Income ETF	1.26%	7.47%	7.62%	5.00%

Correlation

The correlation between KEUA and TSEC is -0.09, 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	-0.09
Correlation (All Time) Calculated using the full available price history since Jul 20, 2023	0.00

Return for Risk

KEUA vs. TSEC — Risk / Return Rank

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

TSEC

TSEC Risk / Return Rank: 73
TSEC Sharpe Ratio Rank: 69
TSEC Sortino Ratio Rank: 73
TSEC Omega Ratio Rank: 84
TSEC Calmar Ratio Rank: 73
TSEC 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. TSEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares European Carbon Allowance Strategy ETF (KEUA) and Touchstone Securitized Income ETF (TSEC). 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	TSEC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	2.59	—

Drawdowns

Drawdown Indicators

	KEUA	TSEC	Difference
Max Drawdown Largest peak-to-trough decline	—	-1.78%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-1.67%	—
Current Drawdown Current decline from peak	—	-0.33%	—
Average Drawdown Average peak-to-trough decline	—	-0.33%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.51%	—

Volatility

Volatility by Period

	KEUA	TSEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	2.70%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	2.90%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	2.90%	—

KEUA vs. TSEC - Expense Ratio Comparison

KEUA has a 0.87% expense ratio, which is higher than TSEC's 0.40% expense ratio.

Dividends

KEUA vs. TSEC - Dividend Comparison

KEUA's dividend yield for the trailing twelve months is around 2.83%, less than TSEC's 7.30% yield.

Position	TTM	2025	2024	2023
KEUA KraneShares European Carbon Allowance Strategy ETF	2.83%	2.29%	7.71%	5.67%
TSEC Touchstone Securitized Income ETF	7.30%	6.47%	5.83%	2.86%

Frequently Asked Questions

Can I hold both KEUA and TSEC in my portfolio?

KEUA and TSEC have a correlation of -0.09, 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 TSEC?

On fees, TSEC is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KEUA or TSEC?

TSEC is cheaper with a 0.40% expense ratio, compared with 0.87% for KEUA.

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

TSEC has the higher dividend yield at 7.30%, compared with 2.83% for KEUA.

What is the main difference between KEUA and TSEC?

KEUA is categorized as Commodities, while TSEC is Short-Term Bond. They also come from different issuers: KraneShares and Touchstone. Their fees differ too: 0.87% for KEUA and 0.40% for TSEC.