KPRO vs. RBIL

Last updated Jun 24, 2026

KPRO (KraneShares 100% KWEB Defined Outcome January 2026 ETF) and RBIL (F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF) are both exchange-traded funds - KPRO is a Options Trading fund actively managed by KraneShares, while RBIL is a Inflation-Protected Bonds fund tracking the Bloomberg US Ultrashort TIPS 1-13 Months Index. KPRO is actively managed, while RBIL is passively managed. Over the past year, KPRO returned -4.43% vs 4.07% for RBIL. At a correlation of -0.13, they often move in opposite directions. KPRO charges 0.95%/yr vs 0.17%/yr for RBIL.

Performance

KPRO vs. RBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KPRO achieves a -6.19% return, which is significantly lower than RBIL's 2.32% return.

KPRO

• 1D: -0.11%
• 1M: -1.22%
• YTD: -6.19%
• 6M: -11.82%
• 1Y: -4.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RBIL

• 1D: 0.01%
• 1M: -0.19%
• YTD: 2.32%
• 6M: 2.37%
• 1Y: 4.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KPRO vs. RBIL - Yearly Performance Comparison

	2026 (YTD)	2025
KPRO KraneShares 100% KWEB Defined Outcome January 2026 ETF	-6.19%	4.80%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	2.32%	2.85%

Correlation

The correlation between KPRO and RBIL is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025	-0.13

Return for Risk

KPRO vs. RBIL — Risk / Return Rank

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

KPRO

KPRO Risk / Return Rank: 5
KPRO Sharpe Ratio Rank: 5
KPRO Sortino Ratio Rank: 5
KPRO Omega Ratio Rank: 4
KPRO Calmar Ratio Rank: 6
KPRO Martin Ratio Rank: 6

RBIL

RBIL Risk / Return Rank: 97
RBIL Sharpe Ratio Rank: 97
RBIL Sortino Ratio Rank: 98
RBIL Omega Ratio Rank: 98
RBIL Calmar Ratio Rank: 96
RBIL Martin Ratio Rank: 97

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.

KPRO vs. RBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). 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.

	KPRO	RBIL	Difference
Sharpe ratio: Return per unit of total volatility	-0.50	4.35	-4.85
Sortino ratio: Return per unit of downside risk	-0.56	6.69	-7.25
Omega ratio: Gain probability vs. loss probability	0.90	2.13	-1.22
Calmar ratio: Return relative to maximum drawdown	-0.34	7.82	-8.17
Martin ratio: Return relative to average drawdown	-0.67	42.95	-43.62

KPRO vs. RBIL - Sharpe Ratio Comparison

The current KPRO Sharpe Ratio is -0.50, which is lower than the RBIL Sharpe Ratio of 4.35. The chart below compares the historical Sharpe Ratios of KPRO and RBIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KPRO vs. RBIL - Drawdown Comparison

The maximum KPRO drawdown since its inception was -12.91%, which is greater than RBIL's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for KPRO and RBIL.

Drawdown Indicators

	KPRO	RBIL	Difference
Max Drawdown Largest peak-to-trough decline	-12.91%	-0.52%	-12.39%
Max Drawdown (1Y) Largest decline over 1 year	-12.91%	-0.52%	-12.39%
Current Drawdown Current decline from peak	-12.91%	-0.50%	-12.41%
Average Drawdown Average peak-to-trough decline	-2.61%	-0.07%	-2.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.63%	0.10%	+6.53%

Volatility

KPRO vs. RBIL - Volatility Comparison

KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO) has a higher volatility of 1.52% compared to F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL) at 0.36%. This indicates that KPRO's price experiences larger fluctuations and is considered to be riskier than RBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KPRO	RBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.52%	0.36%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	7.82%	0.85%	+6.97%
Volatility (1Y) Calculated over the trailing 1-year period	8.86%	0.95%	+7.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.77%	1.07%	+6.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.77%	1.07%	+6.70%

KPRO vs. RBIL - Expense Ratio Comparison

KPRO has a 0.95% expense ratio, which is higher than RBIL's 0.17% expense ratio.

Dividends

KPRO vs. RBIL - Dividend Comparison

KPRO's dividend yield for the trailing twelve months is around 2.83%, less than RBIL's 4.38% yield.

Position	TTM	2025	2024
KPRO KraneShares 100% KWEB Defined Outcome January 2026 ETF	2.83%	2.65%	3.70%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	4.38%	3.65%	0.00%

Frequently Asked Questions

Can I hold both KPRO and RBIL in my portfolio?

KPRO and RBIL have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KPRO or RBIL?

KPRO has higher volatility (1.52%) compared to RBIL (0.36%). In terms of maximum drawdown, KPRO dropped -12.91% vs RBIL's -0.52%.

Which ETF is better, KPRO or RBIL?

On 1-year performance, RBIL leads with 4.07% vs -4.43% for KPRO. On fees, RBIL is cheaper at 0.17% per year. On volatility, RBIL has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KPRO or RBIL?

Over the 1-year period, RBIL has performed better with a 4.07% return vs -4.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KPRO or RBIL?

RBIL is cheaper with a 0.17% expense ratio, compared with 0.95% for KPRO.

Which ETF pays a higher dividend yield, KPRO or RBIL?

RBIL has the higher dividend yield at 4.38%, compared with 2.83% for KPRO.

What is the main difference between KPRO and RBIL?

KPRO is categorized as Options Trading, while RBIL is Inflation-Protected Bonds. They also come from different issuers: KraneShares and F/m. Their fees differ too: 0.95% for KPRO and 0.17% for RBIL.

Which has better risk-adjusted returns?

RBIL currently has the higher Sharpe Ratio (4.35 vs -0.50), 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.