KGRN vs. YXI
KGRN (KraneShares MSCI China Clean Technology Index ETF) and YXI (ProShares Short FTSE China 50) are both China Equities funds - KGRN tracks the MSCI China IMI Environment 10/40 Index while YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 5 years, KGRN returned -11.72%/yr vs -5.56%/yr for YXI. Their -0.69 correlation means they have often moved in opposite directions in the past. KGRN charges 0.79%/yr vs 0.95%/yr for YXI.
Performance
KGRN vs. YXI - Performance Comparison
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Returns By Period
In the year-to-date period, KGRN achieves a -9.74% return, which is significantly lower than YXI's 4.98% 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%
YXI
- 1D
- 0.15%
- 1M
- -12.91%
- 6M
- 8.66%
- YTD
- 4.98%
- 1Y
- 0.78%
- 3Y*
- -9.91%
- 5Y*
- -5.56%
- 10Y*
- -7.95%
- ALL TIME*
- -8.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $273.80K | $295.76K | $430.09K | |
| $27.49K | $29.99K | $33.82K |
KGRN vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
YXI ProShares Short FTSE China 50 | 4.98% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -3.46% |
Correlation
The correlation between KGRN and YXI is -0.70, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.70 |
Correlation (3Y) Balances recent behavior with more history. | -0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.74 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2017 | -0.69 |
The correlation between KGRN and YXI has been stable across timeframes, ranging from -0.74 to -0.69 - a consistent structural relationship.
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Return for Risk
KGRN vs. YXI — Risk / Return Rank
KGRN
YXI
KGRN vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares MSCI China Clean Technology Index ETF (KGRN) and ProShares Short FTSE China 50 (YXI). 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 | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.04 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.36 | 0.21 | -0.56 |
| Martin ratioReturn relative to average drawdown | -0.71 | 0.46 | -1.17 |
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Drawdowns
KGRN vs. YXI - Drawdown Comparison
The maximum KGRN drawdown since its inception was -66.24%, smaller than the maximum YXI drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for KGRN and YXI.
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Drawdown Indicators
| KGRN | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.24% | -81.15% | +14.91% |
Max Drawdown (1Y)Largest decline over 1 year | -28.36% | -13.55% | -14.81% |
Max Drawdown (3Y)Largest decline over 3 years | -40.82% | -53.12% | +12.30% |
Max Drawdown (5Y)Largest decline over 5 years | -63.60% | -57.65% | -5.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.63% | — |
Current DrawdownCurrent decline from peak | -52.74% | -78.56% | +25.82% |
Average DrawdownAverage peak-to-trough decline | -34.28% | -54.51% | +20.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.13% | 6.08% | +8.05% |
Volatility
KGRN vs. YXI - Volatility Comparison
The current volatility for KraneShares MSCI China Clean Technology Index ETF (KGRN) is 5.44%, while ProShares Short FTSE China 50 (YXI) has a volatility of 7.06%. This indicates that KGRN experiences smaller price fluctuations and is considered to be less risky than YXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KGRN | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 7.06% | -1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 15.54% | 16.10% | -0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.50% | 21.18% | +2.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.18% | 31.28% | +2.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.69% | 27.47% | +5.22% |
KGRN vs. YXI - Expense Ratio Comparison
KGRN has a 0.79% expense ratio, which is lower than YXI's 0.95% expense ratio.
Dividends
KGRN vs. YXI - Dividend Comparison
KGRN's dividend yield for the trailing twelve months is around 0.95%, less than YXI's 2.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
YXI ProShares Short FTSE China 50 | 2.71% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% |
Frequently Asked Questions
KGRN and YXI 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.
YXI has higher volatility (7.06%) compared to KGRN (5.44%). In terms of maximum drawdown, KGRN dropped -66.24% vs YXI's -81.15%.
On 5-year performance, YXI leads with -5.56% vs -11.72% for KGRN. On fees, KGRN is cheaper at 0.79% 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, YXI has performed better with a -5.56% return vs -11.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KGRN is cheaper with a 0.79% expense ratio, compared with 0.95% for YXI.
YXI has the higher dividend yield at 2.71%, compared with 0.95% for KGRN.
KGRN tracks MSCI China IMI Environment 10/40 Index, while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%). They also come from different issuers: CICC and ProShares. Their fees differ too: 0.79% for KGRN and 0.95% for YXI.
YXI currently has the higher Sharpe Ratio (0.13 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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