KSTR.L vs. CA3S.L
KSTR.L (KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF USD (Acc)) and CA3S.L (Invesco S&P China A 300 Swap UCITS ETF Acc) are both China Equities funds - KSTR.L tracks the SSE Science and Technology Innovation Board 50 Index while CA3S.L tracks the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 3 years, KSTR.L returned 19.20%/yr vs 14.96%/yr for CA3S.L. A 0.71 correlation means they provide meaningful diversification when combined. KSTR.L charges 0.82%/yr vs 0.35%/yr for CA3S.L.
Performance
KSTR.L vs. CA3S.L - Performance Comparison
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Different Trading Currencies
KSTR.L is traded in USD, while CA3S.L is traded in GBp. To make them comparable, the CA3S.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, KSTR.L achieves a 33.13% return, which is significantly higher than CA3S.L's 9.27% return.
KSTR.L
- 1D
- -5.63%
- 1M
- -7.01%
- 6M
- 17.12%
- YTD
- 33.13%
- 1Y
- 79.93%
- 3Y*
- 19.20%
- 5Y*
- -1.43%
- 10Y*
- —
CA3S.L
- 1D
- 0.00%
- 1M
- -4.33%
- 6M
- 6.39%
- YTD
- 9.27%
- 1Y
- 33.61%
- 3Y*
- 14.96%
- 5Y*
- —
- 10Y*
- —
KSTR.L vs. CA3S.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
KSTR.L KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF USD (Acc) | 33.13% | 42.76% | 5.23% | -18.80% | -1.72% |
CA3S.L Invesco S&P China A 300 Swap UCITS ETF Acc | 9.27% | 34.07% | 14.71% | -12.23% | 7,752.02% |
Correlation
The correlation between KSTR.L and CA3S.L is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since May 5, 2022 | 0.71 |
The correlation between KSTR.L and CA3S.L has been stable across timeframes, ranging from 0.70 to 0.74 - a consistent structural relationship.
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Return for Risk
KSTR.L vs. CA3S.L — Risk / Return Rank
KSTR.L
CA3S.L
KSTR.L vs. CA3S.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF USD (Acc) (KSTR.L) and Invesco S&P China A 300 Swap UCITS ETF Acc (CA3S.L). 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.
| KSTR.L | CA3S.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.94 | ||
| Sortino ratioReturn per unit of downside risk | -135.19 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 62.63 | -61.29 |
| Calmar ratioReturn relative to maximum drawdown | 3.37 | 0.34 | +3.03 |
| Martin ratioReturn relative to average drawdown | 10.31 | 1.31 | +8.99 |
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Drawdowns
KSTR.L vs. CA3S.L - Drawdown Comparison
The maximum KSTR.L drawdown since its inception was -66.67%, smaller than the maximum CA3S.L drawdown of -99.22%. Use the drawdown chart below to compare losses from any high point for KSTR.L and CA3S.L.
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Drawdown Indicators
| KSTR.L | CA3S.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.67% | -99.22% | +32.55% |
Max Drawdown (1Y)Largest decline over 1 year | -23.57% | -99.22% | +75.65% |
Max Drawdown (3Y)Largest decline over 3 years | -35.82% | -99.22% | +63.40% |
Max Drawdown (5Y)Largest decline over 5 years | -66.38% | — | — |
Current DrawdownCurrent decline from peak | -23.57% | -15.70% | -7.87% |
Average DrawdownAverage peak-to-trough decline | -39.82% | -17.62% | -22.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.73% | 25.57% | -17.84% |
Volatility
KSTR.L vs. CA3S.L - Volatility Comparison
KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF USD (Acc) (KSTR.L) has a higher volatility of 19.71% compared to Invesco S&P China A 300 Swap UCITS ETF Acc (CA3S.L) at 9.52%. This indicates that KSTR.L's price experiences larger fluctuations and is considered to be riskier than CA3S.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KSTR.L | CA3S.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.71% | 9.52% | +10.19% |
Volatility (6M)Calculated over the trailing 6-month period | 34.05% | 923.43% | -889.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.03% | 13,935.15% | -13,894.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.61% | 7,827.72% | -7,793.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.55% | 7,827.72% | -7,793.17% |
KSTR.L vs. CA3S.L - Expense Ratio Comparison
KSTR.L has a 0.82% expense ratio, which is higher than CA3S.L's 0.35% expense ratio.
Dividends
KSTR.L vs. CA3S.L - Dividend Comparison
Neither KSTR.L nor CA3S.L has paid dividends to shareholders.
Frequently Asked Questions
KSTR.L and CA3S.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CA3S.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CA3S.L is cheaper with a 0.35% expense ratio, compared with 0.82% for KSTR.L.
KSTR.L tracks SSE Science and Technology Innovation Board 50 Index, while CA3S.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: KraneShares and Invesco. Their fees differ too: 0.82% for KSTR.L and 0.35% for CA3S.L.
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