KSTR vs. BNDD

Last updated Jun 4, 2026

KSTR (KraneShares SSE STAR Market 50 Index ETF) and BNDD (Quadratic Deflation ETF) are both exchange-traded funds - KSTR is a China Equities fund tracking the SSE Science and Technology Innovation Board 50 Index, while BNDD is a Government Bonds fund actively managed by KraneShares. KSTR is passively managed, while BNDD is actively managed. Over the past 3 years, KSTR returned 16.36%/yr vs -3.91%/yr for BNDD. At a 0.00 correlation, their price movements are largely independent. KSTR charges 0.89%/yr vs 1.02%/yr for BNDD.

Performance

KSTR vs. BNDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares SSE STAR Market 50 Index ETF (KSTR) and Quadratic Deflation ETF (BNDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KSTR achieves a 32.94% return, which is significantly higher than BNDD's 4.32% return.

KSTR

• 1D: 1.39%
• 1M: 7.01%
• YTD: 32.94%
• 6M: 38.23%
• 1Y: 83.76%
• 3Y*: 16.36%
• 5Y*: -0.21%
• 10Y*: —

BNDD

• 1D: -0.08%
• 1M: 1.37%
• YTD: 4.32%
• 6M: 2.24%
• 1Y: 3.39%
• 3Y*: -3.91%
• 5Y*: —
• 10Y*: —

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

KSTR vs. BNDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
KSTR KraneShares SSE STAR Market 50 Index ETF	32.94%	42.82%	6.12%	-17.93%	-38.51%	7.18%
BNDD Quadratic Deflation ETF	4.32%	-8.17%	-6.65%	4.02%	-17.48%	5.54%

Correlation

The correlation between KSTR and BNDD is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.00

The correlation between KSTR and BNDD shifts across timeframes, from 0.00 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.

KSTR vs. BNDD - Sectors Allocation Comparison

Sectors	KSTR	BNDD
Technology	78.5%	-
Industrials	6.5%	-
Healthcare	4.1%	-
Consumer Cyclical	1.4%	-
Energy	0.9%	-
Basic Materials	0.6%	-
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	77.7%
Real Estate	-	-
Utilities	-	-

Return for Risk

KSTR vs. BNDD — Risk / Return Rank

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

KSTR

KSTR Risk / Return Rank: 71
KSTR Sharpe Ratio Rank: 72
KSTR Sortino Ratio Rank: 64
KSTR Omega Ratio Rank: 65
KSTR Calmar Ratio Rank: 86
KSTR Martin Ratio Rank: 66

BNDD

BNDD Risk / Return Rank: 14
BNDD Sharpe Ratio Rank: 13
BNDD Sortino Ratio Rank: 12
BNDD Omega Ratio Rank: 12
BNDD Calmar Ratio Rank: 16
BNDD Martin Ratio Rank: 15

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.

KSTR vs. BNDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares SSE STAR Market 50 Index ETF (KSTR) and Quadratic Deflation ETF (BNDD). 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.

	KSTR	BNDD	Difference
Sharpe ratio: Return per unit of total volatility	2.37	0.32	+2.05
Sortino ratio: Return per unit of downside risk	3.02	0.52	+2.50
Omega ratio: Gain probability vs. loss probability	1.40	1.06	+0.33
Calmar ratio: Return relative to maximum drawdown	4.76	0.56	+4.20
Martin ratio: Return relative to average drawdown	12.06	1.20	+10.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KSTR vs. BNDD - Sharpe Ratio Comparison

The current KSTR Sharpe Ratio is 2.37, which is higher than the BNDD Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of KSTR and BNDD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KSTR	BNDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	0.32	+2.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	-0.33	+0.33

Drawdowns

KSTR vs. BNDD - Drawdown Comparison

The maximum KSTR drawdown since its inception was -66.46%, which is greater than BNDD's maximum drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for KSTR and BNDD.

Drawdown Indicators

	KSTR	BNDD	Difference
Max Drawdown Largest peak-to-trough decline	-66.46%	-30.87%	-35.59%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-6.09%	-11.61%
Max Drawdown (3Y) Largest decline over 3 years	-41.55%	-20.75%	-20.80%
Max Drawdown (5Y) Largest decline over 5 years	-66.46%	—	—
Current Drawdown Current decline from peak	-10.98%	-26.51%	+15.53%
Average Drawdown Average peak-to-trough decline	-38.77%	-19.34%	-19.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.97%	2.83%	+4.14%

Volatility

KSTR vs. BNDD - Volatility Comparison

KraneShares SSE STAR Market 50 Index ETF (KSTR) has a higher volatility of 15.14% compared to Quadratic Deflation ETF (BNDD) at 2.21%. This indicates that KSTR's price experiences larger fluctuations and is considered to be riskier than BNDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KSTR	BNDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.14%	2.21%	+12.93%
Volatility (6M) Calculated over the trailing 6-month period	26.21%	8.11%	+18.10%
Volatility (1Y) Calculated over the trailing 1-year period	35.48%	10.59%	+24.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.31%	13.38%	+24.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.68%	13.38%	+24.30%

KSTR vs. BNDD - Expense Ratio Comparison

KSTR has a 0.89% expense ratio, which is lower than BNDD's 1.02% expense ratio.

Dividends

KSTR vs. BNDD - Dividend Comparison

KSTR has not paid dividends to shareholders, while BNDD's dividend yield for the trailing twelve months is around 3.61%.

Position	TTM	2025	2024	2023	2022	2021
BNDD Quadratic Deflation ETF	3.61%	3.82%	3.85%	4.30%	43.17%	1.04%
KSTR KraneShares SSE STAR Market 50 Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KSTR and BNDD in my portfolio?

KSTR and BNDD have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KSTR or BNDD?

KSTR has higher volatility (15.14%) compared to BNDD (2.21%). In terms of maximum drawdown, KSTR dropped -66.46% vs BNDD's -30.87%.

Which ETF is better, KSTR or BNDD?

On 3-year performance, KSTR leads with 16.36% vs -3.91% for BNDD. On fees, KSTR is cheaper at 0.89% per year. On volatility, BNDD has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KSTR or BNDD?

Over the 3-year period, KSTR has performed better with a 16.36% return vs -3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KSTR or BNDD?

KSTR is cheaper with a 0.89% expense ratio, compared with 1.02% for BNDD.

Which ETF pays a higher dividend yield, KSTR or BNDD?

BNDD has the higher dividend yield at 3.61%, compared with 0.00% for KSTR.

What is the main difference between KSTR and BNDD?

KSTR is categorized as China Equities, while BNDD is Government Bonds. Their fees differ too: 0.89% for KSTR and 1.02% for BNDD.

Which has better risk-adjusted returns?

KSTR currently has the higher Sharpe Ratio (2.37 vs 0.32), 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.