KRBN vs. LCTD

Last updated Jun 24, 2026

KRBN (KraneShares Global Carbon ETF) and LCTD (BlackRock World ex U.S. Carbon Transition Readiness ETF) are both exchange-traded funds - KRBN is a Commodities fund tracking the IHS Markit Global Carbon Index, while LCTD is a Alternative Energy Equities fund actively managed by BlackRock. KRBN is passively managed, while LCTD is actively managed. Over the past 5 years, KRBN returned 5.90%/yr vs 6.84%/yr for LCTD. At a 0.24 correlation, their price movements are largely independent. KRBN charges 0.79%/yr vs 0.20%/yr for LCTD.

Performance

KRBN vs. LCTD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Global Carbon ETF (KRBN) and BlackRock World ex U.S. Carbon Transition Readiness ETF (LCTD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KRBN achieves a -5.96% return, which is significantly lower than LCTD's 5.94% return.

KRBN

• 1D: -1.71%
• 1M: 3.12%
• YTD: -5.96%
• 6M: -6.23%
• 1Y: 11.29%
• 3Y*: 0.32%
• 5Y*: 5.90%
• 10Y*: —

LCTD

• 1D: -1.60%
• 1M: -0.64%
• YTD: 5.94%
• 6M: 5.46%
• 1Y: 19.19%
• 3Y*: 15.06%
• 5Y*: 6.84%
• 10Y*: —

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

KRBN vs. LCTD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
KRBN KraneShares Global Carbon ETF	-5.96%	23.11%	-13.56%	8.01%	-12.75%	74.29%
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF	5.94%	30.42%	3.14%	17.10%	-16.16%	4.48%

Correlation

The correlation between KRBN and LCTD is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Apr 8, 2021	0.24

Return for Risk

KRBN vs. LCTD — Risk / Return Rank

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

KRBN

KRBN Risk / Return Rank: 16
KRBN Sharpe Ratio Rank: 18
KRBN Sortino Ratio Rank: 17
KRBN Omega Ratio Rank: 18
KRBN Calmar Ratio Rank: 14
KRBN Martin Ratio Rank: 14

LCTD

LCTD Risk / Return Rank: 38
LCTD Sharpe Ratio Rank: 38
LCTD Sortino Ratio Rank: 38
LCTD Omega Ratio Rank: 36
LCTD Calmar Ratio Rank: 37
LCTD Martin Ratio Rank: 40

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.

KRBN vs. LCTD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Global Carbon ETF (KRBN) and BlackRock World ex U.S. Carbon Transition Readiness ETF (LCTD). 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.

	KRBN	LCTD	Difference
Sharpe ratio: Return per unit of total volatility	0.59	1.29	-0.70
Sortino ratio: Return per unit of downside risk	0.89	1.86	-0.98
Omega ratio: Gain probability vs. loss probability	1.12	1.23	-0.12
Calmar ratio: Return relative to maximum drawdown	0.45	1.76	-1.31
Martin ratio: Return relative to average drawdown	1.16	6.19	-5.03

KRBN vs. LCTD - Sharpe Ratio Comparison

The current KRBN Sharpe Ratio is 0.59, which is lower than the LCTD Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of KRBN and LCTD, 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

KRBN vs. LCTD - Drawdown Comparison

The maximum KRBN drawdown since its inception was -36.42%, which is greater than LCTD's maximum drawdown of -29.82%. Use the drawdown chart below to compare losses from any high point for KRBN and LCTD.

Drawdown Indicators

	KRBN	LCTD	Difference
Max Drawdown Largest peak-to-trough decline	-36.42%	-29.82%	-6.60%
Max Drawdown (1Y) Largest decline over 1 year	-24.98%	-10.92%	-14.06%
Max Drawdown (3Y) Largest decline over 3 years	-27.34%	-13.59%	-13.75%
Max Drawdown (5Y) Largest decline over 5 years	-36.42%	-29.82%	-6.60%
Current Drawdown Current decline from peak	-14.28%	-3.59%	-10.69%
Average Drawdown Average peak-to-trough decline	-16.12%	-6.75%	-9.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.78%	3.11%	+6.67%

Volatility

KRBN vs. LCTD - Volatility Comparison

KraneShares Global Carbon ETF (KRBN) has a higher volatility of 5.38% compared to BlackRock World ex U.S. Carbon Transition Readiness ETF (LCTD) at 4.65%. This indicates that KRBN's price experiences larger fluctuations and is considered to be riskier than LCTD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KRBN	LCTD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	4.65%	+0.73%
Volatility (6M) Calculated over the trailing 6-month period	16.90%	12.59%	+4.31%
Volatility (1Y) Calculated over the trailing 1-year period	19.17%	14.98%	+4.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.06%	16.21%	+11.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.56%	16.09%	+12.47%

KRBN vs. LCTD - Expense Ratio Comparison

KRBN has a 0.79% expense ratio, which is higher than LCTD's 0.20% expense ratio.

Dividends

KRBN vs. LCTD - Dividend Comparison

KRBN's dividend yield for the trailing twelve months is around 2.02%, less than LCTD's 3.43% yield.

Position	TTM	2025	2024	2023	2022	2021
KRBN KraneShares Global Carbon ETF	2.02%	1.90%	7.10%	7.60%	22.91%	0.49%
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF	3.43%	3.61%	3.74%	3.16%	3.52%	2.20%

Frequently Asked Questions

Can I hold both KRBN and LCTD in my portfolio?

KRBN and LCTD have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KRBN or LCTD?

KRBN has higher volatility (5.38%) compared to LCTD (4.65%). In terms of maximum drawdown, KRBN dropped -36.42% vs LCTD's -29.82%.

Which ETF is better, KRBN or LCTD?

On 5-year performance, LCTD leads with 6.84% vs 5.90% for KRBN. On fees, LCTD is cheaper at 0.20% per year. On volatility, LCTD has been the lower-risk option at 4.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KRBN or LCTD?

Over the 5-year period, LCTD has performed better with a 6.84% return vs 5.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KRBN or LCTD?

LCTD is cheaper with a 0.20% expense ratio, compared with 0.79% for KRBN.

Which ETF pays a higher dividend yield, KRBN or LCTD?

LCTD has the higher dividend yield at 3.43%, compared with 2.02% for KRBN.

What is the main difference between KRBN and LCTD?

KRBN is categorized as Commodities, while LCTD is Alternative Energy Equities. They also come from different issuers: CICC and BlackRock. Their fees differ too: 0.79% for KRBN and 0.20% for LCTD.

Which has better risk-adjusted returns?

LCTD currently has the higher Sharpe Ratio (1.29 vs 0.59), 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.