KHYB vs. INDA
KHYB (KraneShares Asia Pacific High Income Bond ETF) and INDA (iShares MSCI India 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 INDA is a India Equities fund tracking the MSCI India Index. Both are passively managed. Over the past 5 years, KHYB returned 0.25%/yr vs 3.40%/yr for INDA. At a 0.19 correlation, their price movements are largely independent. Both charge a 0.69% expense ratio.
Performance
KHYB vs. INDA - Performance Comparison
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Returns By Period
In the year-to-date period, KHYB achieves a 3.00% return, which is significantly higher than INDA's -9.92% return.
KHYB
- 1D
- -0.04%
- 1M
- 0.20%
- 6M
- 2.01%
- YTD
- 3.00%
- 1Y
- 8.78%
- 3Y*
- 8.88%
- 5Y*
- 0.25%
- 10Y*
- —
INDA
- 1D
- -0.06%
- 1M
- -1.46%
- 6M
- -8.51%
- YTD
- -9.92%
- 1Y
- -11.91%
- 3Y*
- 3.25%
- 5Y*
- 3.40%
- 10Y*
- 6.55%
KHYB vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
KHYB KraneShares Asia Pacific High Income Bond ETF | 3.00% | 9.59% | 10.79% | 3.50% | -10.15% | -12.32% | 2.00% | 8.87% | 0.45% |
INDA iShares MSCI India ETF | -9.92% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | 3.00% |
Correlation
The correlation between KHYB and INDA is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2018 | 0.19 |
Over the past year, KHYB and INDA have become more correlated (0.40) than their long-term average of 0.19, meaning their price movements have been converging.
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Return for Risk
KHYB vs. INDA — Risk / Return Rank
KHYB
INDA
KHYB vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Asia Pacific High Income Bond ETF (KHYB) and iShares MSCI India ETF (INDA). 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 | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.36 | ||
| Sortino ratioReturn per unit of downside risk | +5.04 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 0.88 | +0.69 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | -0.67 | +2.89 |
| Martin ratioReturn relative to average drawdown | 9.94 | -1.50 | +11.44 |
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Drawdowns
KHYB vs. INDA - Drawdown Comparison
The maximum KHYB drawdown since its inception was -33.63%, smaller than the maximum INDA drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for KHYB and INDA.
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Drawdown Indicators
| KHYB | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -45.07% | +11.44% |
Max Drawdown (1Y)Largest decline over 1 year | -3.97% | -17.85% | +13.88% |
Max Drawdown (3Y)Largest decline over 3 years | -4.89% | -22.72% | +17.83% |
Max Drawdown (5Y)Largest decline over 5 years | -32.72% | -22.72% | -10.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.07% | — |
Current DrawdownCurrent decline from peak | -0.21% | -17.16% | +16.95% |
Average DrawdownAverage peak-to-trough decline | -9.57% | -9.63% | +0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 8.02% | -7.13% |
Volatility
KHYB vs. INDA - Volatility Comparison
The current volatility for KraneShares Asia Pacific High Income Bond ETF (KHYB) is 0.62%, while iShares MSCI India ETF (INDA) has a volatility of 3.77%. This indicates that KHYB experiences smaller price fluctuations and is considered to be less risky than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KHYB | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 3.77% | -3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 13.06% | -9.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.45% | 15.00% | -11.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.32% | 15.47% | -9.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.68% | 21.05% | -15.37% |
KHYB vs. INDA - Expense Ratio Comparison
Both KHYB and INDA have an expense ratio of 0.69%.
Dividends
KHYB vs. INDA - Dividend Comparison
KHYB's dividend yield for the trailing twelve months is around 8.27%, while INDA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | 0.00% | 0.00% | 0.76% | 0.16% | 0.00% | 6.44% | 0.27% | 0.99% | 0.94% | 1.09% | 0.90% | 1.19% |
KHYB KraneShares Asia Pacific High Income Bond ETF | 8.27% | 7.59% | 10.11% | 15.55% | 9.67% | 6.22% | 4.76% | 4.86% | 2.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KHYB and INDA have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDA has higher volatility (3.77%) compared to KHYB (0.62%). In terms of maximum drawdown, KHYB dropped -33.63% vs INDA's -45.07%.
On 5-year performance, INDA leads with 3.40% vs 0.25% for KHYB. Both ETFs have the same 0.69% expense ratio. On volatility, KHYB has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, INDA has performed better with a 3.40% return vs 0.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KHYB and INDA have the same expense ratio: 0.69% per year.
KHYB has the higher dividend yield at 8.27%, compared with 0.00% for INDA.
KHYB is categorized as Emerging Markets Bonds, while INDA is India Equities. KHYB tracks JP Morgan Asia Credit Index Non-Investment Grade Corporate Index., while INDA tracks MSCI India Index. They also come from different issuers: KraneShares and iShares.
KHYB currently has the higher Sharpe Ratio (2.56 vs -0.80), 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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