KHYB vs. RTAI

Last updated Jun 5, 2026

KHYB (KraneShares Asia Pacific High Income Bond ETF) and RTAI (Rareview Tax Advantaged Income 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 RTAI is a Municipal Bonds fund actively managed by Rareview Funds. KHYB is passively managed, while RTAI is actively managed. Over the past 5 years, KHYB returned 0.18%/yr vs -0.76%/yr for RTAI. At a 0.26 correlation, their price movements are largely independent. KHYB charges 0.69%/yr vs 3.78%/yr for RTAI.

Performance

KHYB vs. RTAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Asia Pacific High Income Bond ETF (KHYB) and Rareview Tax Advantaged Income ETF (RTAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with KHYB having a 2.52% return and RTAI slightly higher at 2.63%.

KHYB

• 1D: 0.02%
• 1M: 1.16%
• YTD: 2.52%
• 6M: 3.51%
• 1Y: 10.48%
• 3Y*: 8.74%
• 5Y*: 0.18%
• 10Y*: —

RTAI

• 1D: 0.17%
• 1M: 0.35%
• YTD: 2.63%
• 6M: 2.45%
• 1Y: 10.41%
• 3Y*: 7.11%
• 5Y*: -0.76%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

KHYB vs. RTAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KHYB KraneShares Asia Pacific High Income Bond ETF	2.52%	9.59%	10.79%	3.50%	-10.15%	-12.32%	-0.39%
RTAI Rareview Tax Advantaged Income ETF	2.63%	5.54%	7.17%	4.33%	-22.55%	10.62%	5.10%

Correlation

The correlation between KHYB and RTAI is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (All Time) Calculated using the full available price history since Oct 22, 2020	0.26

Over the past year, KHYB and RTAI have become more correlated (0.49) than their long-term average of 0.26, meaning their price movements have been converging.

KHYB vs. RTAI - Sectors Allocation Comparison

Sectors	KHYB	RTAI
Consumer Defensive	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Energy	-	-
Financial Services	-	99.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

KHYB vs. RTAI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KHYB

KHYB Risk / Return Rank: 80
KHYB Sharpe Ratio Rank: 90
KHYB Sortino Ratio Rank: 94
KHYB Omega Ratio Rank: 95
KHYB Calmar Ratio Rank: 54
KHYB Martin Ratio Rank: 66

RTAI

RTAI Risk / Return Rank: 46
RTAI Sharpe Ratio Rank: 46
RTAI Sortino Ratio Rank: 54
RTAI Omega Ratio Rank: 52
RTAI Calmar Ratio Rank: 35
RTAI Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

KHYB vs. RTAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Asia Pacific High Income Bond ETF (KHYB) and Rareview Tax Advantaged Income ETF (RTAI). 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.

	KHYB	RTAI	Difference
Sharpe ratio: Return per unit of total volatility	3.09	1.58	+1.51
Sortino ratio: Return per unit of downside risk	4.78	2.56	+2.22
Omega ratio: Gain probability vs. loss probability	1.70	1.32	+0.39
Calmar ratio: Return relative to maximum drawdown	2.65	1.69	+0.96
Martin ratio: Return relative to average drawdown	11.91	6.89	+5.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KHYB vs. RTAI - Sharpe Ratio Comparison

The current KHYB Sharpe Ratio is 3.09, which is higher than the RTAI Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of KHYB and RTAI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KHYB	RTAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.09	1.58	+1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	-0.08	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.17	+0.10

Drawdowns

KHYB vs. RTAI - Drawdown Comparison

The maximum KHYB drawdown since its inception was -33.63%, roughly equal to the maximum RTAI drawdown of -34.32%. Use the drawdown chart below to compare losses from any high point for KHYB and RTAI.

Drawdown Indicators

	KHYB	RTAI	Difference
Max Drawdown Largest peak-to-trough decline	-33.63%	-34.32%	+0.69%
Max Drawdown (1Y) Largest decline over 1 year	-3.97%	-6.18%	+2.21%
Max Drawdown (3Y) Largest decline over 3 years	-5.94%	-15.71%	+9.77%
Max Drawdown (5Y) Largest decline over 5 years	-32.86%	-34.32%	+1.46%
Current Drawdown Current decline from peak	-0.60%	-7.48%	+6.88%
Average Drawdown Average peak-to-trough decline	-9.71%	-13.83%	+4.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	1.51%	-0.63%

Volatility

KHYB vs. RTAI - Volatility Comparison

The current volatility for KraneShares Asia Pacific High Income Bond ETF (KHYB) is 0.87%, while Rareview Tax Advantaged Income ETF (RTAI) has a volatility of 2.38%. This indicates that KHYB experiences smaller price fluctuations and is considered to be less risky than RTAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KHYB	RTAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	2.38%	-1.51%
Volatility (6M) Calculated over the trailing 6-month period	3.02%	5.36%	-2.34%
Volatility (1Y) Calculated over the trailing 1-year period	3.40%	6.62%	-3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.32%	9.34%	-3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.71%	9.05%	-3.34%

KHYB vs. RTAI - Expense Ratio Comparison

KHYB has a 0.69% expense ratio, which is lower than RTAI's 3.78% expense ratio.

Dividends

KHYB vs. RTAI - Dividend Comparison

KHYB's dividend yield for the trailing twelve months is around 8.13%, more than RTAI's 5.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
RTAI Rareview Tax Advantaged Income ETF	5.04%	5.66%	5.02%	3.07%	3.71%	4.73%	0.48%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KHYB and RTAI in my portfolio?

KHYB and RTAI have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KHYB or RTAI?

RTAI has higher volatility (2.38%) compared to KHYB (0.87%). In terms of maximum drawdown, KHYB dropped -33.63% vs RTAI's -34.32%.

Which ETF is better, KHYB or RTAI?

On 5-year performance, KHYB leads with 0.18% vs -0.76% for RTAI. On fees, KHYB is cheaper at 0.69% per year. On volatility, KHYB has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KHYB or RTAI?

Over the 5-year period, KHYB has performed better with a 0.18% return vs -0.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KHYB or RTAI?

KHYB is cheaper with a 0.69% expense ratio, compared with 3.78% for RTAI.

Which ETF pays a higher dividend yield, KHYB or RTAI?

KHYB has the higher dividend yield at 8.13%, compared with 5.04% for RTAI.

What is the main difference between KHYB and RTAI?

KHYB is categorized as Emerging Markets Bonds, while RTAI is Municipal Bonds. They also come from different issuers: KraneShares and Rareview Funds. Their fees differ too: 0.69% for KHYB and 3.78% for RTAI.

Which has better risk-adjusted returns?

KHYB currently has the higher Sharpe Ratio (3.09 vs 1.58), 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.