KHYB vs. INCO
KHYB (KraneShares Asia Pacific High Income Bond ETF) and INCO (Columbia India Consumer ETF) are both exchange-traded funds - KHYB is a Emerging Markets Bonds fund tracking the JP Morgan Asia Credit Index Non-Investment Grade Corporate Index., while INCO is a Asia Pacific Equities fund tracking the Indxx India Consumer Index. Both are passively managed. Over the past 5 years, KHYB returned 0.19%/yr vs 6.94%/yr for INCO. At a 0.16 correlation, their price movements are largely independent. KHYB charges 0.69%/yr vs 0.75%/yr for INCO.
Performance
KHYB vs. INCO - Performance Comparison
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Returns By Period
In the year-to-date period, KHYB achieves a 2.60% return, which is significantly higher than INCO's -7.96% return.
KHYB
- 1D
- 0.05%
- 1M
- 0.46%
- YTD
- 2.60%
- 6M
- 2.57%
- 1Y
- 9.27%
- 3Y*
- 8.52%
- 5Y*
- 0.19%
- 10Y*
- —
INCO
- 1D
- 0.57%
- 1M
- 2.58%
- YTD
- -7.96%
- 6M
- -7.22%
- 1Y
- -7.25%
- 3Y*
- 7.44%
- 5Y*
- 6.94%
- 10Y*
- 9.02%
KHYB vs. INCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
KHYB KraneShares Asia Pacific High Income Bond ETF | 2.60% | 9.59% | 10.79% | 3.50% | -10.15% | -12.32% | 2.00% | 8.87% | 0.45% |
INCO Columbia India Consumer ETF | -7.96% | 0.59% | 12.70% | 34.63% | -7.01% | 19.28% | 14.55% | -4.22% | -2.22% |
Correlation
The correlation between KHYB and INCO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2018 | 0.16 |
Over the past year, KHYB and INCO have become more correlated (0.41) than their long-term average of 0.16, meaning their price movements have been converging.
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Return for Risk
KHYB vs. INCO — Risk / Return Rank
KHYB
INCO
KHYB vs. INCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Asia Pacific High Income Bond ETF (KHYB) and Columbia India Consumer ETF (INCO). 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.
| KHYB | INCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.14 | ||
| Sortino ratioReturn per unit of downside risk | +4.72 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 0.94 | +0.66 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | -0.34 | +2.68 |
| Martin ratioReturn relative to average drawdown | 10.50 | -0.81 | +11.31 |
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Drawdowns
KHYB vs. INCO - Drawdown Comparison
The maximum KHYB drawdown since its inception was -33.63%, smaller than the maximum INCO drawdown of -47.69%. Use the drawdown chart below to compare losses from any high point for KHYB and INCO.
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Drawdown Indicators
| KHYB | INCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -47.69% | +14.06% |
Max Drawdown (1Y)Largest decline over 1 year | -3.97% | -21.37% | +17.40% |
Max Drawdown (3Y)Largest decline over 3 years | -5.41% | -29.98% | +24.57% |
Max Drawdown (5Y)Largest decline over 5 years | -32.72% | -29.98% | -2.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.69% | — |
Current DrawdownCurrent decline from peak | -0.52% | -21.62% | +21.10% |
Average DrawdownAverage peak-to-trough decline | -9.64% | -10.62% | +0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 8.94% | -8.06% |
Volatility
KHYB vs. INCO - Volatility Comparison
The current volatility for KraneShares Asia Pacific High Income Bond ETF (KHYB) is 0.79%, while Columbia India Consumer ETF (INCO) has a volatility of 5.20%. This indicates that KHYB experiences smaller price fluctuations and is considered to be less risky than INCO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KHYB | INCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 5.20% | -4.41% |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | 14.41% | -11.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 17.03% | -13.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 16.98% | -10.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.70% | 20.30% | -14.60% |
KHYB vs. INCO - Expense Ratio Comparison
KHYB has a 0.69% expense ratio, which is lower than INCO's 0.75% expense ratio.
Dividends
KHYB vs. INCO - Dividend Comparison
KHYB's dividend yield for the trailing twelve months is around 8.13%, while INCO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
INCO Columbia India Consumer ETF | 0.00% | 0.00% | 2.88% | 3.81% | 10.57% | 6.25% | 0.34% | 0.28% | 0.12% | 0.05% | 0.09% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
KHYB and INCO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INCO has higher volatility (5.20%) compared to KHYB (0.79%). In terms of maximum drawdown, KHYB dropped -33.63% vs INCO's -47.69%.
On 5-year performance, INCO leads with 6.94% vs 0.19% for KHYB. On fees, KHYB is cheaper at 0.69% per year. On volatility, KHYB has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, INCO has performed better with a 6.94% return vs 0.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KHYB is cheaper with a 0.69% expense ratio, compared with 0.75% for INCO.
KHYB has the higher dividend yield at 8.13%, compared with 0.00% for INCO.
KHYB is categorized as Emerging Markets Bonds, while INCO is Asia Pacific Equities. KHYB tracks JP Morgan Asia Credit Index Non-Investment Grade Corporate Index., while INCO tracks Indxx India Consumer Index. They also come from different issuers: KraneShares and Ameriprise Financial. Their fees differ too: 0.69% for KHYB and 0.75% for INCO.
KHYB currently has the higher Sharpe Ratio (2.71 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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