KSTR.L vs. XCHA.L
KSTR.L (KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF USD (Acc)) and XCHA.L (Xtrackers CSI 300 Swap UCITS ETF 1C) are both China Equities funds - KSTR.L tracks the SSE Science and Technology Innovation Board 50 Index while XCHA.L tracks the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 5 years, KSTR.L returned -1.43%/yr vs 1.59%/yr for XCHA.L. A 0.72 correlation means they provide meaningful diversification when combined. KSTR.L charges 0.82%/yr vs 0.50%/yr for XCHA.L.
Performance
KSTR.L vs. XCHA.L - Performance Comparison
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Returns By Period
In the year-to-date period, KSTR.L achieves a 33.13% return, which is significantly higher than XCHA.L's 4.03% 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*
- —
XCHA.L
- 1D
- -3.22%
- 1M
- -7.31%
- 6M
- 1.59%
- YTD
- 4.03%
- 1Y
- 25.60%
- 3Y*
- 12.64%
- 5Y*
- 1.59%
- 10Y*
- 8.21%
KSTR.L vs. XCHA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KSTR.L KraneShares ICBCCS SSE STAR Market 50 Index UCITS ETF USD (Acc) | 33.13% | 42.76% | 5.23% | -18.80% | -38.16% | 2.78% |
XCHA.L Xtrackers CSI 300 Swap UCITS ETF 1C | 4.03% | 30.11% | 16.00% | -11.00% | -24.25% | -2.71% |
Correlation
The correlation between KSTR.L and XCHA.L is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since May 26, 2021 | 0.72 |
The correlation between KSTR.L and XCHA.L has been stable across timeframes, ranging from 0.72 to 0.75 - a consistent structural relationship.
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Return for Risk
KSTR.L vs. XCHA.L — Risk / Return Rank
KSTR.L
XCHA.L
KSTR.L vs. XCHA.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 Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.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 | XCHA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.24 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.37 | 2.57 | +0.81 |
| Martin ratioReturn relative to average drawdown | 10.31 | 9.60 | +0.70 |
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Drawdowns
KSTR.L vs. XCHA.L - Drawdown Comparison
The maximum KSTR.L drawdown since its inception was -66.67%, which is greater than XCHA.L's maximum drawdown of -50.90%. Use the drawdown chart below to compare losses from any high point for KSTR.L and XCHA.L.
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Drawdown Indicators
| KSTR.L | XCHA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.67% | -50.90% | -15.77% |
Max Drawdown (1Y)Largest decline over 1 year | -23.57% | -9.93% | -13.64% |
Max Drawdown (3Y)Largest decline over 3 years | -35.82% | -26.85% | -8.97% |
Max Drawdown (5Y)Largest decline over 5 years | -66.38% | -39.75% | -26.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.89% | — |
Current DrawdownCurrent decline from peak | -23.57% | -9.93% | -13.64% |
Average DrawdownAverage peak-to-trough decline | -39.82% | -23.99% | -15.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.73% | 2.66% | +5.07% |
Volatility
KSTR.L vs. XCHA.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 Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.L) at 9.31%. This indicates that KSTR.L's price experiences larger fluctuations and is considered to be riskier than XCHA.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 | XCHA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.71% | 9.31% | +10.40% |
Volatility (6M)Calculated over the trailing 6-month period | 34.05% | 14.86% | +19.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.03% | 19.24% | +21.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.61% | 22.67% | +11.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.55% | 22.80% | +11.75% |
KSTR.L vs. XCHA.L - Expense Ratio Comparison
KSTR.L has a 0.82% expense ratio, which is higher than XCHA.L's 0.50% expense ratio.
Dividends
KSTR.L vs. XCHA.L - Dividend Comparison
Neither KSTR.L nor XCHA.L has paid dividends to shareholders.
Frequently Asked Questions
KSTR.L and XCHA.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCHA.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCHA.L is cheaper with a 0.50% expense ratio, compared with 0.82% for KSTR.L.
KSTR.L tracks SSE Science and Technology Innovation Board 50 Index, while XCHA.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: KraneShares and Xtrackers. Their fees differ too: 0.82% for KSTR.L and 0.50% for XCHA.L.
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