KLIP vs. KGRN
KLIP (KraneShares China Internet and Covered Call Strategy ETF) and KGRN (KraneShares MSCI China Clean Technology Index ETF) are both exchange-traded funds - KLIP is a Options Trading fund managed by CICC, while KGRN is a China Equities fund tracking the MSCI China IMI Environment 10/40 Index. Over the past 3 years, KLIP returned 5.41%/yr vs -1.94%/yr for KGRN. A 0.69 correlation means they provide meaningful diversification when combined. KLIP charges 0.95%/yr vs 0.79%/yr for KGRN.
Performance
KLIP vs. KGRN - Performance Comparison
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Returns By Period
In the year-to-date period, KLIP achieves a -14.26% return, which is significantly lower than KGRN's -11.49% return.
KLIP
- 1D
- -1.86%
- 1M
- -5.74%
- YTD
- -14.26%
- 6M
- -15.76%
- 1Y
- -8.35%
- 3Y*
- 5.41%
- 5Y*
- —
- 10Y*
- —
KGRN
- 1D
- -3.11%
- 1M
- -11.29%
- YTD
- -11.49%
- 6M
- -11.71%
- 1Y
- -6.11%
- 3Y*
- -1.94%
- 5Y*
- -11.69%
- 10Y*
- —
KLIP vs. KGRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
KLIP KraneShares China Internet and Covered Call Strategy ETF | -14.26% | 16.92% | 3.37% | 11.11% |
KGRN KraneShares MSCI China Clean Technology Index ETF | -11.49% | 21.45% | -1.11% | -22.79% |
Correlation
The correlation between KLIP and KGRN is 0.62, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023 | 0.69 |
The correlation between KLIP and KGRN has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.
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Return for Risk
KLIP vs. KGRN — Risk / Return Rank
KLIP
KGRN
KLIP vs. KGRN - 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 MSCI China Clean Technology Index ETF (KGRN). 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 | KGRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.98 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | -0.24 | -0.20 |
| Martin ratioReturn relative to average drawdown | -1.10 | -0.55 | -0.55 |
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Drawdowns
KLIP vs. KGRN - Drawdown Comparison
The maximum KLIP drawdown since its inception was -19.18%, smaller than the maximum KGRN drawdown of -66.24%. Use the drawdown chart below to compare losses from any high point for KLIP and KGRN.
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Drawdown Indicators
| KLIP | KGRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.18% | -66.24% | +47.06% |
Max Drawdown (1Y)Largest decline over 1 year | -19.18% | -25.91% | +6.73% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | -42.19% | +23.01% |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.60% | — |
Current DrawdownCurrent decline from peak | -19.18% | -53.65% | +34.47% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -34.03% | +30.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.58% | 11.19% | -3.61% |
Volatility
KLIP vs. KGRN - Volatility Comparison
The current volatility for KraneShares China Internet and Covered Call Strategy ETF (KLIP) is 5.89%, while KraneShares MSCI China Clean Technology Index ETF (KGRN) has a volatility of 6.99%. This indicates that KLIP experiences smaller price fluctuations and is considered to be less risky than KGRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KLIP | KGRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.89% | 6.99% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 13.18% | 16.19% | -3.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.19% | 23.64% | -7.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.12% | 34.67% | -16.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.12% | 32.83% | -14.71% |
KLIP vs. KGRN - Expense Ratio Comparison
KLIP has a 0.95% expense ratio, which is higher than KGRN's 0.79% expense ratio.
Dividends
KLIP vs. KGRN - Dividend Comparison
KLIP's dividend yield for the trailing twelve months is around 30.25%, more than KGRN's 0.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
KGRN KraneShares MSCI China Clean Technology Index ETF | 0.97% | 0.85% | 1.49% | 0.74% | 1.98% | 0.41% | 0.01% | 5.88% | 2.04% |
KLIP KraneShares China Internet and Covered Call Strategy ETF | 30.25% | 25.14% | 54.26% | 61.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KLIP and KGRN have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KGRN has higher volatility (6.99%) compared to KLIP (5.89%). In terms of maximum drawdown, KLIP dropped -19.18% vs KGRN's -66.24%.
On 3-year performance, KLIP leads with 5.41% vs -1.94% for KGRN. On fees, KGRN is cheaper at 0.79% per year. On volatility, KLIP has been the lower-risk option at 5.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, KLIP has performed better with a 5.41% return vs -1.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KGRN is cheaper with a 0.79% expense ratio, compared with 0.95% for KLIP.
KLIP has the higher dividend yield at 30.25%, compared with 0.97% for KGRN.
KLIP is categorized as Options Trading, while KGRN is China Equities. Their fees differ too: 0.95% for KLIP and 0.79% for KGRN.
KGRN currently has the higher Sharpe Ratio (-0.26 vs -0.52), 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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