KPDD vs. GEMG

Last updated Jun 21, 2026

KPDD (KraneShares 2x Long PDD Daily ETF) and GEMG (Leverage Shares 2X Long GEMI Daily ETF) are both Leveraged Equities funds. KPDD is passively managed, while GEMG is actively managed. At a 0.11 correlation, their price movements are largely independent. KPDD charges 1.27%/yr vs 0.75%/yr for GEMG.

Performance

KPDD vs. GEMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares 2x Long PDD Daily ETF (KPDD) and Leverage Shares 2X Long GEMI Daily ETF (GEMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KPDD achieves a -56.22% return, which is significantly higher than GEMG's -87.55% return.

KPDD

• 1D: -0.79%
• 1M: -35.95%
• YTD: -56.22%
• 6M: -53.47%
• 1Y: -50.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GEMG

• 1D: -3.78%
• 1M: -28.15%
• YTD: -87.55%
• 6M: -90.68%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KPDD vs. GEMG - Yearly Performance Comparison

	2026 (YTD)	2025
KPDD KraneShares 2x Long PDD Daily ETF	-56.22%	-30.59%
GEMG Leverage Shares 2X Long GEMI Daily ETF	-87.55%	-71.91%

Correlation

The correlation between KPDD and GEMG is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025	0.11

Return for Risk

KPDD vs. GEMG — Risk / Return Rank

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

KPDD

KPDD Risk / Return Rank: 3
KPDD Sharpe Ratio Rank: 3
KPDD Sortino Ratio Rank: 3
KPDD Omega Ratio Rank: 3
KPDD Calmar Ratio Rank: 3
KPDD Martin Ratio Rank: 2

GEMG

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.

KPDD vs. GEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares 2x Long PDD Daily ETF (KPDD) and Leverage Shares 2X Long GEMI Daily ETF (GEMG). 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.

	KPDD	GEMG	Difference
Sharpe ratio: Return per unit of total volatility	-0.79	—	—
Sortino ratio: Return per unit of downside risk	-1.02	—	—
Omega ratio: Gain probability vs. loss probability	0.87	—	—
Calmar ratio: Return relative to maximum drawdown	-0.72	—	—
Martin ratio: Return relative to average drawdown	-1.37	—	—

Drawdowns

KPDD vs. GEMG - Drawdown Comparison

The maximum KPDD drawdown since its inception was -73.38%, smaller than the maximum GEMG drawdown of -97.26%. Use the drawdown chart below to compare losses from any high point for KPDD and GEMG.

Drawdown Indicators

	KPDD	GEMG	Difference
Max Drawdown Largest peak-to-trough decline	-73.38%	-97.26%	+23.88%
Max Drawdown (1Y) Largest decline over 1 year	-71.50%	—	—
Current Drawdown Current decline from peak	-73.38%	-96.71%	+23.33%
Average Drawdown Average peak-to-trough decline	-38.25%	-80.97%	+42.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.50%	—	—

Volatility

Volatility by Period

	KPDD	GEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.42%	—	—
Volatility (6M) Calculated over the trailing 6-month period	51.80%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	64.90%	220.57%	-155.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.87%	220.57%	-146.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.87%	220.57%	-146.70%

KPDD vs. GEMG - Expense Ratio Comparison

KPDD has a 1.27% expense ratio, which is higher than GEMG's 0.75% expense ratio.

Dividends

KPDD vs. GEMG - Dividend Comparison

KPDD's dividend yield for the trailing twelve months is around 132.19%, while GEMG has not paid dividends to shareholders.

Position	TTM	2025
GEMG Leverage Shares 2X Long GEMI Daily ETF	0.00%	0.00%
KPDD KraneShares 2x Long PDD Daily ETF	132.19%	57.87%

Frequently Asked Questions

Can I hold both KPDD and GEMG in my portfolio?

KPDD and GEMG have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KPDD or GEMG?

On fees, GEMG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KPDD or GEMG?

GEMG is cheaper with a 0.75% expense ratio, compared with 1.27% for KPDD.

Which ETF pays a higher dividend yield, KPDD or GEMG?

KPDD has the higher dividend yield at 132.19%, compared with 0.00% for GEMG.

What is the main difference between KPDD and GEMG?

They also come from different issuers: KraneShares and Leverage Shares. Their fees differ too: 1.27% for KPDD and 0.75% for GEMG.