KGRN vs. ISCMF
KGRN (KraneShares MSCI China Clean Technology Index ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - KGRN is a China Equities fund tracking the MSCI China IMI Environment 10/40 Index, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past 3 years, KGRN returned -1.94%/yr vs 16.78%/yr for ISCMF. At a correlation of -0.01, they often move in opposite directions. KGRN charges 0.79%/yr vs 0.19%/yr for ISCMF.
Performance
KGRN vs. ISCMF - Performance Comparison
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Returns By Period
In the year-to-date period, KGRN achieves a -11.49% return, which is significantly lower than ISCMF's 22.87% return.
KGRN
- 1D
- -3.11%
- 1M
- -11.29%
- YTD
- -11.49%
- 6M
- -11.71%
- 1Y
- -6.11%
- 3Y*
- -1.94%
- 5Y*
- -11.69%
- 10Y*
- —
ISCMF
- 1D
- 0.00%
- 1M
- -4.99%
- YTD
- 22.87%
- 6M
- 22.87%
- 1Y
- 31.30%
- 3Y*
- 16.78%
- 5Y*
- —
- 10Y*
- —
KGRN vs. ISCMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
KGRN KraneShares MSCI China Clean Technology Index ETF | -11.49% | 21.45% | -1.11% | -14.75% | -27.02% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 22.87% | 19.65% | 3.13% | -9.58% | -5.82% |
Correlation
The correlation between KGRN and ISCMF is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | -0.01 |
The correlation between KGRN and ISCMF shifts across timeframes, from -0.10 (1 year) to 0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
KGRN vs. ISCMF — Risk / Return Rank
KGRN
ISCMF
KGRN vs. ISCMF - 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 Diversified Commodity Swap UCITS ETF (ISCMF). 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.
| KGRN | ISCMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -3.39 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 2.31 | -1.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 5.53 | -5.77 |
| Martin ratioReturn relative to average drawdown | -0.55 | 11.85 | -12.40 |
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Drawdowns
KGRN vs. ISCMF - Drawdown Comparison
The maximum KGRN drawdown since its inception was -66.24%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for KGRN and ISCMF.
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Drawdown Indicators
| KGRN | ISCMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.24% | -25.42% | -40.82% |
Max Drawdown (1Y)Largest decline over 1 year | -25.91% | -5.69% | -20.22% |
Max Drawdown (3Y)Largest decline over 3 years | -42.19% | -7.62% | -34.57% |
Max Drawdown (5Y)Largest decline over 5 years | -63.60% | — | — |
Current DrawdownCurrent decline from peak | -53.65% | -5.26% | -48.39% |
Average DrawdownAverage peak-to-trough decline | -34.03% | -13.35% | -20.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.19% | 2.65% | +8.54% |
Volatility
KGRN vs. ISCMF - Volatility Comparison
KraneShares MSCI China Clean Technology Index ETF (KGRN) has a higher volatility of 6.99% compared to iShares Diversified Commodity Swap UCITS ETF (ISCMF) at 5.11%. This indicates that KGRN's price experiences larger fluctuations and is considered to be riskier than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KGRN | ISCMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.99% | 5.11% | +1.88% |
Volatility (6M)Calculated over the trailing 6-month period | 16.19% | 15.45% | +0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.64% | 17.84% | +5.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.67% | 14.29% | +20.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.83% | 14.29% | +18.54% |
KGRN vs. ISCMF - Expense Ratio Comparison
KGRN has a 0.79% expense ratio, which is higher than ISCMF's 0.19% expense ratio.
Dividends
KGRN vs. ISCMF - Dividend Comparison
KGRN's dividend yield for the trailing twelve months is around 0.97%, while ISCMF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ISCMF iShares Diversified Commodity Swap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KGRN KraneShares MSCI China Clean Technology Index ETF | 0.97% | 0.85% | 1.49% | 0.74% | 1.98% | 0.41% | 0.01% | 5.88% | 2.04% |
Frequently Asked Questions
KGRN and ISCMF have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KGRN has higher volatility (6.99%) compared to ISCMF (5.11%). In terms of maximum drawdown, KGRN dropped -66.24% vs ISCMF's -25.42%.
On 3-year performance, ISCMF leads with 16.78% vs -1.94% for KGRN. On fees, ISCMF is cheaper at 0.19% per year. On volatility, ISCMF has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ISCMF has performed better with a 16.78% return vs -1.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISCMF is cheaper with a 0.19% expense ratio, compared with 0.79% for KGRN.
KGRN has the higher dividend yield at 0.97%, compared with 0.00% for ISCMF.
KGRN is categorized as China Equities, while ISCMF is Commodities. KGRN tracks MSCI China IMI Environment 10/40 Index, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: CICC and iShares. Their fees differ too: 0.79% for KGRN and 0.19% for ISCMF.
ISCMF currently has the higher Sharpe Ratio (1.76 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.
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