KSPY vs. ONEH
KSPY (Kraneshares Hedgeye Hedged Equity Index ETF) and ONEH (TrueShares Equity Hedge ETF) are both Equity Hedged funds. KSPY is passively managed, while ONEH is actively managed. At a 0.19 correlation, their price movements are largely independent. KSPY charges 0.78%/yr vs 0.79%/yr for ONEH.
Performance
KSPY vs. ONEH - Performance Comparison
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Returns By Period
KSPY
- 1D
- -0.10%
- 1M
- -0.38%
- YTD
- 4.81%
- 6M
- 4.13%
- 1Y
- 15.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ONEH
- 1D
- -0.15%
- 1M
- 0.85%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KSPY vs. ONEH - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
KSPY Kraneshares Hedgeye Hedged Equity Index ETF | 2.82% |
ONEH TrueShares Equity Hedge ETF | -1.19% |
Correlation
The correlation between KSPY and ONEH is 0.19, 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 Jan 29, 2026 | 0.19 |
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Return for Risk
KSPY vs. ONEH — Risk / Return Rank
KSPY
ONEH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
KSPY vs. ONEH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kraneshares Hedgeye Hedged Equity Index ETF (KSPY) and TrueShares Equity Hedge ETF (ONEH). 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.
| KSPY | ONEH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.45 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | — | — |
| Martin ratioReturn relative to average drawdown | 17.34 | — | — |
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Drawdowns
KSPY vs. ONEH - Drawdown Comparison
The maximum KSPY drawdown since its inception was -11.67%, which is greater than ONEH's maximum drawdown of -3.55%. Use the drawdown chart below to compare losses from any high point for KSPY and ONEH.
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Drawdown Indicators
| KSPY | ONEH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.67% | -3.55% | -8.12% |
Max Drawdown (1Y)Largest decline over 1 year | -4.46% | — | — |
Current DrawdownCurrent decline from peak | -1.91% | -1.19% | -0.72% |
Average DrawdownAverage peak-to-trough decline | -1.17% | -1.49% | +0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | — | — |
Volatility
KSPY vs. ONEH - Volatility Comparison
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Volatility by Period
| KSPY | ONEH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 6.04% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.41% | 5.31% | +2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.55% | 5.31% | +5.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.55% | 5.31% | +5.24% |
KSPY vs. ONEH - Expense Ratio Comparison
KSPY has a 0.78% expense ratio, which is lower than ONEH's 0.79% expense ratio.
Dividends
KSPY vs. ONEH - Dividend Comparison
KSPY's dividend yield for the trailing twelve months is around 5.88%, while ONEH has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
KSPY Kraneshares Hedgeye Hedged Equity Index ETF | 5.88% | 6.16% | 1.31% |
ONEH TrueShares Equity Hedge ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KSPY and ONEH have a correlation of 0.19, 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 0.79% for ONEH.
KSPY has the higher dividend yield at 5.88%, compared with 0.00% for ONEH.
They also come from different issuers: KraneShares and TrueShares. Their fees differ too: 0.78% for KSPY and 0.79% for ONEH.
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