KLIP vs. XPP
Compare and contrast key facts about KraneShares China Internet and Covered Call Strategy ETF (KLIP) and ProShares Ultra FTSE China 50 (XPP).
KLIP and XPP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KLIP is managed by CICC. It was launched on Jan 12, 2023. XPP is a passively managed fund by ProShares that tracks the performance of the FTSE/Xinhua China 25 Index (200%). It was launched on Jun 2, 2009.
Performance
KLIP vs. XPP - Performance Comparison
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KLIP vs. XPP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
KLIP KraneShares China Internet and Covered Call Strategy ETF | -8.98% | 16.92% | 3.37% | 10.67% |
XPP ProShares Ultra FTSE China 50 | -14.59% | 45.84% | 38.18% | -47.38% |
Returns By Period
In the year-to-date period, KLIP achieves a -8.98% return, which is significantly higher than XPP's -14.59% return.
KLIP
- 1D
- 2.10%
- 1M
- -5.77%
- YTD
- -8.98%
- 6M
- -12.63%
- 1Y
- -1.25%
- 3Y*
- 7.62%
- 5Y*
- —
- 10Y*
- —
XPP
- 1D
- 5.09%
- 1M
- -8.06%
- YTD
- -14.59%
- 6M
- -26.23%
- 1Y
- -6.76%
- 3Y*
- 2.42%
- 5Y*
- -20.09%
- 10Y*
- -4.96%
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KLIP vs. XPP - Expense Ratio Comparison
Both KLIP and XPP have an expense ratio of 0.95%.
Return for Risk
KLIP vs. XPP — Risk / Return Rank
KLIP
XPP
KLIP vs. XPP - 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 ProShares Ultra FTSE China 50 (XPP). 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 | XPP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.06 | -0.14 | +0.08 |
Sortino ratioReturn per unit of downside risk | 0.05 | 0.13 | -0.08 |
Omega ratioGain probability vs. loss probability | 1.01 | 1.02 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | -0.08 | -0.20 | +0.12 |
Martin ratioReturn relative to average drawdown | -0.26 | -0.52 | +0.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KLIP | XPP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.06 | -0.14 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.32 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | -0.09 | +0.44 |
Correlation
The correlation between KLIP and XPP is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
KLIP vs. XPP - Dividend Comparison
KLIP's dividend yield for the trailing twelve months is around 28.24%, more than XPP's 2.54% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
KLIP KraneShares China Internet and Covered Call Strategy ETF | 28.24% | 25.14% | 54.26% | 61.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XPP ProShares Ultra FTSE China 50 | 2.54% | 2.32% | 2.96% | 2.87% | 0.00% | 0.00% | 0.00% | 3.81% | 1.47% |
Drawdowns
KLIP vs. XPP - Drawdown Comparison
The maximum KLIP drawdown since its inception was -18.61%, smaller than the maximum XPP drawdown of -89.90%. Use the drawdown chart below to compare losses from any high point for KLIP and XPP.
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Drawdown Indicators
| KLIP | XPP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.61% | -89.90% | +71.29% |
Max Drawdown (1Y)Largest decline over 1 year | -17.23% | -32.37% | +15.14% |
Max Drawdown (5Y)Largest decline over 5 years | — | -85.54% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.90% | — |
Current DrawdownCurrent decline from peak | -14.21% | -77.40% | +63.19% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -47.52% | +44.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.18% | 12.67% | -7.49% |
Volatility
KLIP vs. XPP - Volatility Comparison
The current volatility for KraneShares China Internet and Covered Call Strategy ETF (KLIP) is 7.16%, while ProShares Ultra FTSE China 50 (XPP) has a volatility of 14.38%. This indicates that KLIP experiences smaller price fluctuations and is considered to be less risky than XPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KLIP | XPP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 14.38% | -7.22% |
Volatility (6M)Calculated over the trailing 6-month period | 13.48% | 29.09% | -15.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.76% | 47.42% | -27.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 62.68% | -44.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.19% | 54.98% | -36.79% |