KLIP vs. KBND

Last updated Jun 23, 2026

KLIP (KraneShares China Internet and Covered Call Strategy ETF) and KBND (KraneShares Bloomberg China Bond Inclusion Index ETF) are both exchange-traded funds - KLIP is a Options Trading fund managed by CICC, while KBND is a International Government Bonds fund tracking the KBND-US - Bloomberg China Inclusion Focused Bond Index. At a 0.15 correlation, their price movements are largely independent. KLIP charges 0.95%/yr vs 0.50%/yr for KBND.

Performance

KLIP vs. KBND - 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 KraneShares Bloomberg China Bond Inclusion Index ETF (KBND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KLIP

• 1D: -0.80%
• 1M: -3.96%
• YTD: -12.64%
• 6M: -14.80%
• 1Y: -5.67%
• 3Y*: 6.07%
• 5Y*: —
• 10Y*: —

KBND

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

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

KLIP vs. KBND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KLIP KraneShares China Internet and Covered Call Strategy ETF	-12.64%	16.92%	3.37%	11.11%
KBND KraneShares Bloomberg China Bond Inclusion Index ETF	0.00%	0.00%	0.89%	1.31%

Correlation

The correlation between KLIP and KBND is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023	0.15

Return for Risk

KLIP vs. KBND — Risk / Return Rank

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

KLIP

KLIP Risk / Return Rank: 5
KLIP Sharpe Ratio Rank: 6
KLIP Sortino Ratio Rank: 5
KLIP Omega Ratio Rank: 5
KLIP Calmar Ratio Rank: 6
KLIP Martin Ratio Rank: 5

KBND

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. KBND - 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 KraneShares Bloomberg China Bond Inclusion Index ETF (KBND). 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.

	KLIP	KBND	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	—	—
Sortino ratio: Return per unit of downside risk	-0.38	—	—
Omega ratio: Gain probability vs. loss probability	0.95	—	—
Calmar ratio: Return relative to maximum drawdown	-0.32	—	—
Martin ratio: Return relative to average drawdown	-0.76	—	—

Drawdowns

Drawdown Indicators

	KLIP	KBND	Difference
Max Drawdown Largest peak-to-trough decline	-18.61%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-17.65%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.61%	—	—
Current Drawdown Current decline from peak	-17.65%	—	—
Average Drawdown Average peak-to-trough decline	-3.95%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	7.49%	—	—

Volatility

Volatility by Period

	KLIP	KBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.80%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.12%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.10%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.10%	—	—

KLIP vs. KBND - Expense Ratio Comparison

KLIP has a 0.95% expense ratio, which is higher than KBND's 0.50% expense ratio.

Dividends

KLIP vs. KBND - Dividend Comparison

KLIP's dividend yield for the trailing twelve months is around 29.68%, while KBND has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KBND KraneShares Bloomberg China Bond Inclusion Index ETF	0.00%	0.00%	0.40%	2.20%	2.51%	6.97%	2.27%	3.47%	4.98%	0.00%	0.04%	1.16%
KLIP KraneShares China Internet and Covered Call Strategy ETF	29.68%	25.14%	54.26%	61.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KLIP and KBND in my portfolio?

KLIP and KBND have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KLIP or KBND?

On fees, KBND is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KLIP or KBND?

KBND is cheaper with a 0.50% expense ratio, compared with 0.95% for KLIP.

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

KLIP has the higher dividend yield at 29.68%, compared with 0.00% for KBND.

What is the main difference between KLIP and KBND?

KLIP is categorized as Options Trading, while KBND is International Government Bonds. Their fees differ too: 0.95% for KLIP and 0.50% for KBND.