KSPY vs. KBDU
KSPY (Kraneshares Hedgeye Hedged Equity Index ETF) and KBDU (KraneShares 2X Long BIDU Daily ETF) are both exchange-traded funds - KSPY is a Equity Hedged fund tracking the Hedgeye Hedged Equity Index, while KBDU is a Leveraged Equities fund actively managed by KraneShares. KSPY is passively managed, while KBDU is actively managed. At a 0.27 correlation, their price movements are largely independent. KSPY charges 0.78%/yr vs 1.26%/yr for KBDU.
Performance
KSPY vs. KBDU - Performance Comparison
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Returns By Period
In the year-to-date period, KSPY achieves a 5.54% return, which is significantly higher than KBDU's -8.99% return.
KSPY
- 1D
- 0.10%
- 1M
- 1.61%
- YTD
- 5.54%
- 6M
- 5.98%
- 1Y
- 18.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KBDU
- 1D
- 3.04%
- 1M
- 9.45%
- YTD
- -8.99%
- 6M
- 7.41%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KSPY vs. KBDU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KSPY Kraneshares Hedgeye Hedged Equity Index ETF | 5.54% | 3.35% |
KBDU KraneShares 2X Long BIDU Daily ETF | -8.99% | 34.59% |
Correlation
The correlation between KSPY and KBDU is 0.27, 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 21, 2025 | 0.27 |
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Return for Risk
KSPY vs. KBDU — Risk / Return Rank
KSPY
KBDU
KSPY vs. KBDU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kraneshares Hedgeye Hedged Equity Index ETF (KSPY) and KraneShares 2X Long BIDU Daily ETF (KBDU). 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.
| KSPY | KBDU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.59 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.07 | — | — |
| Martin ratioReturn relative to average drawdown | 21.74 | — | — |
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
| KSPY | KBDU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.17 | 0.46 | +0.71 |
Drawdowns
KSPY vs. KBDU - Drawdown Comparison
The maximum KSPY drawdown since its inception was -11.67%, smaller than the maximum KBDU drawdown of -59.14%. Use the drawdown chart below to compare losses from any high point for KSPY and KBDU.
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Drawdown Indicators
| KSPY | KBDU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.67% | -59.14% | +47.47% |
Max Drawdown (1Y)Largest decline over 1 year | -4.46% | — | — |
Current DrawdownCurrent decline from peak | -0.17% | -39.13% | +38.96% |
Average DrawdownAverage peak-to-trough decline | -1.18% | -28.80% | +27.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | — | — |
Volatility
KSPY vs. KBDU - Volatility Comparison
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Volatility by Period
| KSPY | KBDU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.51% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.99% | 101.84% | -94.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.52% | 101.84% | -91.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.52% | 101.84% | -91.32% |
KSPY vs. KBDU - Expense Ratio Comparison
KSPY has a 0.78% expense ratio, which is lower than KBDU's 1.26% expense ratio.
Dividends
KSPY vs. KBDU - Dividend Comparison
KSPY's dividend yield for the trailing twelve months is around 5.84%, while KBDU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
KBDU KraneShares 2X Long BIDU Daily ETF | 0.00% | 0.00% | 0.00% |
KSPY Kraneshares Hedgeye Hedged Equity Index ETF | 5.84% | 6.16% | 1.31% |
Frequently Asked Questions
KSPY and KBDU have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, KSPY is cheaper at 0.78% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KSPY is cheaper with a 0.78% expense ratio, compared with 1.26% for KBDU.
KSPY has the higher dividend yield at 5.84%, compared with 0.00% for KBDU.
KSPY is categorized as Equity Hedged, while KBDU is Leveraged Equities. Their fees differ too: 0.78% for KSPY and 1.26% for KBDU.
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