KLIP vs. HOCT

Last updated Jun 3, 2026

KLIP (KraneShares China Internet and Covered Call Strategy ETF) and HOCT (Innovator Premium Income 9 Buffer ETF - October) are both Options Trading funds. KLIP charges 0.95%/yr vs 0.79%/yr for HOCT.

Performance

KLIP vs. HOCT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares China Internet and Covered Call Strategy ETF (KLIP) and Innovator Premium Income 9 Buffer ETF - October (HOCT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KLIP

• 1D: 2.16%
• 1M: -0.26%
• YTD: -5.93%
• 6M: -8.29%
• 1Y: 3.54%
• 3Y*: 9.17%
• 5Y*: —
• 10Y*: —

HOCT

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KLIP vs. HOCT - Yearly Performance Comparison

	2026 (YTD)
KLIP KraneShares China Internet and Covered Call Strategy ETF	-9.05%
HOCT Innovator Premium Income 9 Buffer ETF - October	0.00%

Return for Risk

KLIP vs. HOCT — Risk / Return Rank

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

KLIP

KLIP Risk / Return Rank: 12
KLIP Sharpe Ratio Rank: 12
KLIP Sortino Ratio Rank: 11
KLIP Omega Ratio Rank: 12
KLIP Calmar Ratio Rank: 12
KLIP Martin Ratio Rank: 11

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.

KLIP vs. HOCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares China Internet and Covered Call Strategy ETF (KLIP) and Innovator Premium Income 9 Buffer ETF - October (HOCT). 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.

	KLIP	HOCT	Difference
Sharpe ratio Return per unit of total volatility	0.23	—	—
Sortino ratio Return per unit of downside risk	0.42	—	—
Omega ratio Gain probability vs. loss probability	1.06	—	—
Calmar ratio Return relative to maximum drawdown	0.25	—	—
Martin ratio Return relative to average drawdown	0.61	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	KLIP	HOCT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	—	—

Drawdowns

KLIP vs. HOCT - Drawdown Comparison

The maximum KLIP drawdown since its inception was -18.61%, which is greater than HOCT's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for KLIP and HOCT.

Drawdown Indicators

	KLIP	HOCT	Difference
Max Drawdown Largest peak-to-trough decline	-18.61%	0.00%	-18.61%
Max Drawdown (1Y) Largest decline over 1 year	-15.97%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.61%	—	—
Current Drawdown Current decline from peak	-11.33%	0.00%	-11.33%
Average Drawdown Average peak-to-trough decline	-3.78%	0.00%	-3.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.65%	—	—

Volatility

Volatility by Period

	KLIP	HOCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.70%	0.00%	+15.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.10%	0.00%	+18.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.10%	0.00%	+18.10%

KLIP vs. HOCT - Expense Ratio Comparison

KLIP has a 0.95% expense ratio, which is higher than HOCT's 0.79% expense ratio.

Dividends

KLIP vs. HOCT - Dividend Comparison

KLIP's dividend yield for the trailing twelve months is around 27.57%, while HOCT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
HOCT Innovator Premium Income 9 Buffer ETF - October	0.00%	0.00%	0.00%	0.00%
KLIP KraneShares China Internet and Covered Call Strategy ETF	27.57%	25.14%	54.26%	61.22%

Frequently Asked Questions

Which ETF is better, KLIP or HOCT?

On fees, HOCT is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KLIP or HOCT?

HOCT is cheaper with a 0.79% expense ratio, compared with 0.95% for KLIP.

Which ETF pays a higher dividend yield, KLIP or HOCT?

KLIP has the higher dividend yield at 27.57%, compared with 0.00% for HOCT.

What is the main difference between KLIP and HOCT?

They also come from different issuers: CICC and Innovator. Their fees differ too: 0.95% for KLIP and 0.79% for HOCT.