KPDD vs. KHYB
KPDD (KraneShares 2x Long PDD Daily ETF) and KHYB (KraneShares Asia Pacific High Income Bond ETF) are both exchange-traded funds - KPDD is a Leveraged Equities fund tracking the PDD Holdings Inc. ADR (PDD), while KHYB is a Emerging Markets Bonds fund tracking the JP Morgan Asia Credit Index Non-Investment Grade Corporate Index.. Both are passively managed. Over the past year, KPDD returned -46.58% vs 8.50% for KHYB. Their 0.30 correlation means their historical movements had little consistent relationship. KPDD charges 1.27%/yr vs 0.69%/yr for KHYB.
Performance
KPDD vs. KHYB - Performance Comparison
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Returns By Period
In the year-to-date period, KPDD achieves a -45.34% return, which is significantly lower than KHYB's 3.81% return.
KPDD
- 1D
- 3.63%
- 1M
- 17.82%
- 6M
- -32.91%
- YTD
- -45.34%
- 1Y
- -46.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -47.94%
KHYB
- 1D
- 0.23%
- 1M
- 0.85%
- 6M
- 2.18%
- YTD
- 3.81%
- 1Y
- 8.50%
- 3Y*
- 9.39%
- 5Y*
- 0.75%
- 10Y*
- —
- ALL TIME*
- 1.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $42.24K | $67.79K | $85.84K | |
| $764.43K | $792.49K | $2.11M |
KPDD vs. KHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KPDD KraneShares 2x Long PDD Daily ETF | -45.34% | -26.34% |
KHYB KraneShares Asia Pacific High Income Bond ETF | 3.81% | 7.57% |
Correlation
The correlation between KPDD and KHYB is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 2025 | 0.30 |
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Return for Risk
KPDD vs. KHYB — Risk / Return Rank
KPDD
KHYB
KPDD vs. KHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares 2x Long PDD Daily ETF (KPDD) and KraneShares Asia Pacific High Income Bond ETF (KHYB). 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 | KHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.15 | ||
| Sortino ratioReturn per unit of downside risk | -4.59 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.54 | -0.63 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | 2.15 | -2.77 |
| Martin ratioReturn relative to average drawdown | -1.05 | 9.62 | -10.67 |
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Drawdowns
KPDD vs. KHYB - Drawdown Comparison
The maximum KPDD drawdown since its inception was -77.47%, which is greater than KHYB's maximum drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for KPDD and KHYB.
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Drawdown Indicators
| KPDD | KHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.47% | -33.63% | -43.84% |
Max Drawdown (1Y)Largest decline over 1 year | -75.88% | -3.97% | -71.91% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.89% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.43% | — |
Current DrawdownCurrent decline from peak | -66.76% | 0.00% | -66.76% |
Average DrawdownAverage peak-to-trough decline | -41.10% | -9.52% | -31.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.45% | 0.89% | +43.56% |
Volatility
KPDD vs. KHYB - Volatility Comparison
KraneShares 2x Long PDD Daily ETF (KPDD) has a higher volatility of 15.80% compared to KraneShares Asia Pacific High Income Bond ETF (KHYB) at 0.84%. This indicates that KPDD's price experiences larger fluctuations and is considered to be riskier than KHYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KPDD | KHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.80% | 0.84% | +14.96% |
Volatility (6M)Calculated over the trailing 6-month period | 52.87% | 3.13% | +49.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.20% | 3.48% | +63.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.03% | 6.30% | +67.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.03% | 5.67% | +68.36% |
KPDD vs. KHYB - Expense Ratio Comparison
KPDD has a 1.27% expense ratio, which is higher than KHYB's 0.69% expense ratio.
Dividends
KPDD vs. KHYB - Dividend Comparison
KPDD's dividend yield for the trailing twelve months is around 105.88%, more than KHYB's 8.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
KHYB KraneShares Asia Pacific High Income Bond ETF | 8.36% | 7.59% | 10.11% | 15.55% | 9.67% | 6.22% | 4.76% | 4.86% | 2.56% |
KPDD KraneShares 2x Long PDD Daily ETF | 105.88% | 57.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KPDD and KHYB have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KPDD has higher volatility (15.80%) compared to KHYB (0.84%). In terms of maximum drawdown, KPDD dropped -77.47% vs KHYB's -33.63%.
On 1-year performance, KHYB leads with 8.50% vs -46.58% for KPDD. On fees, KHYB is cheaper at 0.69% per year. On volatility, KHYB has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KHYB has performed better with a 8.50% return vs -46.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KHYB is cheaper with a 0.69% expense ratio, compared with 1.27% for KPDD.
KPDD has the higher dividend yield at 105.88%, compared with 8.36% for KHYB.
KPDD is categorized as Leveraged Equities, while KHYB is Emerging Markets Bonds. KPDD tracks PDD Holdings Inc. ADR (PDD), while KHYB tracks JP Morgan Asia Credit Index Non-Investment Grade Corporate Index.. Their fees differ too: 1.27% for KPDD and 0.69% for KHYB.
KHYB currently has the higher Sharpe Ratio (2.46 vs -0.70), 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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