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KGRN vs. CNYA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KGRN vs. CNYA

Last updated Aug 2, 2026
Documentation

KGRN (KraneShares MSCI China Clean Technology Index ETF) and CNYA (iShares MSCI China A ETF) are both China Equities funds - KGRN tracks the MSCI China IMI Environment 10/40 Index while CNYA tracks the MSCI China A Inclusion Index. Both are passively managed. Over the past 5 years, KGRN returned -11.72%/yr vs -0.99%/yr for CNYA. Their 0.67 correlation means they have sometimes moved together and sometimes differently. KGRN charges 0.79%/yr vs 0.60%/yr for CNYA.

Performance

KGRN vs. CNYA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares MSCI China Clean Technology Index ETF (KGRN) and iShares MSCI China A ETF (CNYA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, KGRN achieves a -9.74% return, which is significantly lower than CNYA's 1.92% return.

KGRN

1D
-1.22%
1M
4.21%
6M
-10.51%
YTD
-9.74%
1Y
-8.93%
3Y*
-6.00%
5Y*
-11.72%
10Y*
—
ALL TIME*
1.06%

CNYA

1D
0.03%
1M
-4.04%
6M
0.38%
YTD
1.92%
1Y
21.02%
3Y*
7.65%
5Y*
-0.99%
10Y*
5.37%
ALL TIME*
5.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

CNYA

iShares MSCI China A ETF
$1.58M$2.45M$4.18M

KGRN

KraneShares MSCI China Clean Technology Index ETF
$273.80K$295.76K$430.09K

KGRN vs. CNYA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
KGRN
KraneShares MSCI China Clean Technology Index ETF		-9.74%21.45%-1.11%-14.75%-40.45%5.91%138.49%12.12%-29.32%-0.37%
CNYA
iShares MSCI China A ETF		1.92%26.48%10.78%-13.76%-26.51%3.53%41.54%35.95%-26.56%2.72%

Correlation

The correlation between KGRN and CNYA is 0.59, 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.

0.59

Correlation (3Y)
Balances recent behavior with more history.

0.70

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.70

Correlation (All Time)
Calculated using the full available price history since Oct 13, 2017

0.67

The correlation between KGRN and CNYA shifts across timeframes, from 0.59 (1 year) to 0.70 (3 years), reflecting how their relationship changes across market environments.

KGRN vs. CNYA - Sectors Allocation Comparison

Sectors
KGRN
CNYA

Consumer Cyclical

33.8%
4.3%

Industrials

30.1%
14.2%

Utilities

21.4%
2.9%

Technology

14.7%
37.3%

Energy

3.8%
2.6%

Basic Materials

-

10.7%

Communication Services

-

1.1%

Consumer Defensive

-

5.8%

Financial Services

-

16.8%

Healthcare

-

3.8%

Real Estate

-

0.5%

Consumer Cyclical

KGRN
33.8%
CNYA
4.3%

Industrials

KGRN
30.1%
CNYA
14.2%

Utilities

KGRN
21.4%
CNYA
2.9%

Technology

KGRN
14.7%
CNYA
37.3%

Energy

KGRN
3.8%
CNYA
2.6%

Basic Materials

KGRN

-

CNYA
10.7%

Communication Services

KGRN

-

CNYA
1.1%

Consumer Defensive

KGRN

-

CNYA
5.8%

Financial Services

KGRN

-

CNYA
16.8%

Healthcare

KGRN

-

CNYA
3.8%

Real Estate

KGRN

-

CNYA
0.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

KraneShares MSCI China Clean Technology Index ETF

iShares MSCI China A ETF

Often compared with KGRN:
KGRN vs. KBAKGRN vs. KARSKGRN vs. MCHIKGRN vs. FCAKGRN vs. ASHRKGRN vs. ASHSKGRN vs. ISHP
Often compared with CNYA:
CNYA vs. MCHICNYA vs. ASHRCNYA vs. ICHN.ASCNYA vs. KBACNYA vs. FLCHCNYA vs. ICGA.DECNYA vs. GXC

Return for Risk

KGRN vs. CNYA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
KGRN
KGRN Risk / Return Rank: 66
Overall Rank
KGRN Sharpe Ratio Rank: 66
Sharpe Ratio Rank
KGRN Sortino Ratio Rank: 66
Sortino Ratio Rank
KGRN Omega Ratio Rank: 66
Omega Ratio Rank
KGRN Calmar Ratio Rank: 66
Calmar Ratio Rank
KGRN Martin Ratio Rank: 66
Martin Ratio Rank
CNYA
CNYA Risk / Return Rank: 4646
Overall Rank
CNYA Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
CNYA Sortino Ratio Rank: 4141
Sortino Ratio Rank
CNYA Omega Ratio Rank: 4141
Omega Ratio Rank
CNYA Calmar Ratio Rank: 5757
Calmar Ratio Rank
CNYA Martin Ratio Rank: 5151
Martin Ratio Rank
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.

KGRN vs. CNYA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares MSCI China Clean Technology Index ETF (KGRN) and iShares MSCI China A ETF (CNYA). 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.

KGRNCNYADifference
Sharpe ratioReturn per unit of total volatility
-0.43
1.03

-1.46

Sortino ratioReturn per unit of downside risk
-0.46
1.51

-1.97

Omega ratioGain probability vs. loss probability

0.95

1.19

-0.25

Calmar ratioReturn relative to maximum drawdown

-0.36

2.00

-2.36

Martin ratioReturn relative to average drawdown

-0.71

5.87

-6.58

KGRN vs. CNYA - Sharpe Ratio Comparison

The current KGRN Sharpe Ratio is -0.43, which is lower than the CNYA Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of KGRN and CNYA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

KGRN vs. CNYA - Drawdown Comparison

The maximum KGRN drawdown since its inception was -66.24%, which is greater than CNYA's maximum drawdown of -49.49%. Use the drawdown chart below to compare losses from any high point for KGRN and CNYA.

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Drawdown Indicators

KGRNCNYADifference

Max Drawdown

Largest peak-to-trough decline

-66.24%

-49.49%

-16.75%

Max Drawdown (1Y)

Largest decline over 1 year

-28.36%

-10.37%

-17.99%

Max Drawdown (3Y)

Largest decline over 3 years

-41.50%

-33.35%

-8.15%

Max Drawdown (5Y)

Largest decline over 5 years

-63.60%

-44.65%

-18.95%

Max Drawdown (10Y)

Largest decline over 10 years

—

-49.49%

—

Current Drawdown

Current decline from peak

-52.74%

-19.26%

-33.48%

Average Drawdown

Average peak-to-trough decline

-34.28%

-20.61%

-13.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

14.13%

3.53%

+10.60%

Volatility

KGRN vs. CNYA - Volatility Comparison

The current volatility for KraneShares MSCI China Clean Technology Index ETF (KGRN) is 5.44%, while iShares MSCI China A ETF (CNYA) has a volatility of 8.72%. This indicates that KGRN experiences smaller price fluctuations and is considered to be less risky than CNYA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

KGRNCNYADifference

Volatility (1M)

Calculated over the trailing 1-month period

5.44%

8.72%

-3.28%

Volatility (6M)

Calculated over the trailing 6-month period

15.54%

15.98%

-0.44%

Volatility (1Y)

Calculated over the trailing 1-year period

23.50%

20.27%

+3.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

34.18%

23.87%

+10.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.69%

23.62%

+9.07%

KGRN vs. CNYA - Expense Ratio Comparison

KGRN has a 0.79% expense ratio, which is higher than CNYA's 0.60% expense ratio.

Dividends

KGRN vs. CNYA - Dividend Comparison

KGRN's dividend yield for the trailing twelve months is around 0.95%, less than CNYA's 1.84% yield.

PositionTTM2025202420232022202120202019201820172016
CNYA
iShares MSCI China A ETF		1.84%1.92%2.51%4.23%2.69%1.11%1.06%1.21%3.92%0.97%1.38%
KGRN
KraneShares MSCI China Clean Technology Index ETF		0.95%0.85%1.49%0.74%1.98%0.41%0.01%5.88%2.04%0.00%0.00%

Frequently Asked Questions

KGRN and CNYA have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CNYA has higher volatility (8.72%) compared to KGRN (5.44%). In terms of maximum drawdown, KGRN dropped -66.24% vs CNYA's -49.49%.

On 5-year performance, CNYA leads with -0.99% vs -11.72% for KGRN. On fees, CNYA is cheaper at 0.60% per year. On volatility, KGRN has been the lower-risk option at 5.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, CNYA has performed better with a -0.99% return vs -11.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

CNYA is cheaper with a 0.60% expense ratio, compared with 0.79% for KGRN.

CNYA has the higher dividend yield at 1.84%, compared with 0.95% for KGRN.

KGRN tracks MSCI China IMI Environment 10/40 Index, while CNYA tracks MSCI China A Inclusion Index. They also come from different issuers: CICC and iShares. Their fees differ too: 0.79% for KGRN and 0.60% for CNYA.

CNYA currently has the higher Sharpe Ratio (1.03 vs -0.43), 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.

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