KLIP vs. KEMQ
KLIP (KraneShares China Internet and Covered Call Strategy ETF) and KEMQ (KraneShares Emerging Markets Consumer Technology Index ETF) are both exchange-traded funds - KLIP is a Options Trading fund managed by CICC, while KEMQ is a Emerging Markets Equities fund tracking the Solactive Emerging Markets Consumer Technology Index. Over the past 3 years, KLIP returned 5.58%/yr vs 21.57%/yr for KEMQ. A 0.79 correlation means they provide meaningful diversification when combined. KLIP charges 0.95%/yr vs 0.60%/yr for KEMQ.
Performance
KLIP vs. KEMQ - Performance Comparison
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Returns By Period
In the year-to-date period, KLIP achieves a -10.03% return, which is significantly lower than KEMQ's 4.32% return.
KLIP
- 1D
- -0.29%
- 1M
- -1.18%
- 6M
- -14.56%
- YTD
- -10.03%
- 1Y
- -5.93%
- 3Y*
- 5.58%
- 5Y*
- —
- 10Y*
- —
KEMQ
- 1D
- 0.74%
- 1M
- 1.53%
- 6M
- -3.76%
- YTD
- 4.32%
- 1Y
- 22.15%
- 3Y*
- 21.57%
- 5Y*
- -3.07%
- 10Y*
- —
KLIP vs. KEMQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
KLIP KraneShares China Internet and Covered Call Strategy ETF | -10.03% | 16.92% | 3.37% | 11.11% |
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF | 4.32% | 56.28% | 13.81% | -10.21% |
Correlation
The correlation between KLIP and KEMQ is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023 | 0.79 |
The correlation between KLIP and KEMQ has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.
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Return for Risk
KLIP vs. KEMQ — Risk / Return Rank
KLIP
KEMQ
KLIP vs. KEMQ - 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 Emerging Markets Consumer Technology Index ETF (KEMQ). 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 | KEMQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.63 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.16 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 1.01 | -1.29 |
| Martin ratioReturn relative to average drawdown | -0.69 | 2.55 | -3.23 |
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Drawdowns
KLIP vs. KEMQ - Drawdown Comparison
The maximum KLIP drawdown since its inception was -21.48%, smaller than the maximum KEMQ drawdown of -70.72%. Use the drawdown chart below to compare losses from any high point for KLIP and KEMQ.
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Drawdown Indicators
| KLIP | KEMQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.48% | -70.72% | +49.24% |
Max Drawdown (1Y)Largest decline over 1 year | -21.48% | -21.94% | +0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -21.48% | -21.94% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.85% | — |
Current DrawdownCurrent decline from peak | -15.19% | -29.93% | +14.74% |
Average DrawdownAverage peak-to-trough decline | -4.18% | -35.61% | +31.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.65% | 8.72% | -0.07% |
Volatility
KLIP vs. KEMQ - Volatility Comparison
The current volatility for KraneShares China Internet and Covered Call Strategy ETF (KLIP) is 5.26%, while KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) has a volatility of 8.14%. This indicates that KLIP experiences smaller price fluctuations and is considered to be less risky than KEMQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KLIP | KEMQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.26% | 8.14% | -2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 13.10% | 22.96% | -9.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.55% | 27.56% | -11.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.10% | 32.16% | -14.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.10% | 29.64% | -11.54% |
KLIP vs. KEMQ - Expense Ratio Comparison
KLIP has a 0.95% expense ratio, which is higher than KEMQ's 0.60% expense ratio.
Dividends
KLIP vs. KEMQ - Dividend Comparison
KLIP's dividend yield for the trailing twelve months is around 28.64%, more than KEMQ's 5.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF | 5.05% | 5.27% | 0.73% | 0.29% | 0.00% | 0.28% | 2.28% | 1.76% |
KLIP KraneShares China Internet and Covered Call Strategy ETF | 28.64% | 25.14% | 54.26% | 61.22% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KLIP and KEMQ have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KEMQ has higher volatility (8.14%) compared to KLIP (5.26%). In terms of maximum drawdown, KLIP dropped -21.48% vs KEMQ's -70.72%.
On 3-year performance, KEMQ leads with 21.57% vs 5.58% for KLIP. On fees, KEMQ is cheaper at 0.60% per year. On volatility, KLIP has been the lower-risk option at 5.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, KEMQ has performed better with a 21.57% return vs 5.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KEMQ is cheaper with a 0.60% expense ratio, compared with 0.95% for KLIP.
KLIP has the higher dividend yield at 28.64%, compared with 5.05% for KEMQ.
KLIP is categorized as Options Trading, while KEMQ is Emerging Markets Equities. Their fees differ too: 0.95% for KLIP and 0.60% for KEMQ.
KEMQ currently has the higher Sharpe Ratio (0.81 vs -0.36), 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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