KSTR vs. CHAU

Last updated Jun 4, 2026

KSTR (KraneShares SSE STAR Market 50 Index ETF) and CHAU (Direxion Daily CSI 300 China A Share Bull 2x Shares) are both exchange-traded funds - KSTR is a China Equities fund tracking the SSE Science and Technology Innovation Board 50 Index, while CHAU is a Leveraged Equities fund tracking the CSI 300 Index (200%). Both are passively managed. Over the past 5 years, KSTR returned -0.21%/yr vs -9.67%/yr for CHAU. A 0.72 correlation means they provide meaningful diversification when combined. KSTR charges 0.89%/yr vs 1.21%/yr for CHAU.

Performance

KSTR vs. CHAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares SSE STAR Market 50 Index ETF (KSTR) and Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU). 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 CHAU's 17.74% return.

KSTR

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

CHAU

• 1D: -0.12%
• 1M: 5.21%
• YTD: 17.74%
• 6M: 25.00%
• 1Y: 80.30%
• 3Y*: 12.95%
• 5Y*: -9.67%
• 10Y*: 4.54%

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

KSTR vs. CHAU - 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%	-1.70%
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares	17.74%	47.73%	6.61%	-28.25%	-49.17%	-12.33%

Correlation

The correlation between KSTR and CHAU is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jan 28, 2021	0.72

The correlation between KSTR and CHAU has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.

KSTR vs. CHAU - Sectors Allocation Comparison

Sectors	KSTR	CHAU
Technology	78.5%	26.3%
Industrials	6.5%	16.7%
Healthcare	4.1%	4.9%
Consumer Cyclical	1.4%	6.7%
Energy	0.9%	2.7%
Basic Materials	0.6%	10.7%
Communication Services	-	0.8%
Consumer Defensive	-	7.3%
Financial Services	-	20.4%
Real Estate	-	0.5%
Utilities	-	3.0%

Return for Risk

KSTR vs. CHAU — 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

CHAU

CHAU Risk / Return Rank: 74
CHAU Sharpe Ratio Rank: 74
CHAU Sortino Ratio Rank: 65
CHAU Omega Ratio Rank: 64
CHAU Calmar Ratio Rank: 89
CHAU Martin Ratio Rank: 80

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. CHAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares SSE STAR Market 50 Index ETF (KSTR) and Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU). 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	CHAU	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.42	-0.05
Sortino ratio: Return per unit of downside risk	3.02	3.05	-0.03
Omega ratio: Gain probability vs. loss probability	1.40	1.39	+0.01
Calmar ratio: Return relative to maximum drawdown	4.76	5.29	-0.53
Martin ratio: Return relative to average drawdown	12.06	15.85	-3.79
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. CHAU - Sharpe Ratio Comparison

The current KSTR Sharpe Ratio is 2.37, which is comparable to the CHAU Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of KSTR and CHAU, 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	CHAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	2.42	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	-0.21	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	-0.07	+0.07

Drawdowns

KSTR vs. CHAU - Drawdown Comparison

The maximum KSTR drawdown since its inception was -66.46%, smaller than the maximum CHAU drawdown of -79.21%. Use the drawdown chart below to compare losses from any high point for KSTR and CHAU.

Drawdown Indicators

	KSTR	CHAU	Difference
Max Drawdown Largest peak-to-trough decline	-66.46%	-79.21%	+12.75%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-15.27%	-2.43%
Max Drawdown (3Y) Largest decline over 3 years	-41.55%	-59.88%	+18.33%
Max Drawdown (5Y) Largest decline over 5 years	-66.46%	-73.69%	+7.23%
Max Drawdown (10Y) Largest decline over 10 years	—	-78.58%	—
Current Drawdown Current decline from peak	-10.98%	-52.49%	+41.51%
Average Drawdown Average peak-to-trough decline	-38.77%	-58.90%	+20.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.97%	5.08%	+1.89%

Volatility

KSTR vs. CHAU - Volatility Comparison

KraneShares SSE STAR Market 50 Index ETF (KSTR) has a higher volatility of 15.14% compared to Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) at 11.70%. This indicates that KSTR's price experiences larger fluctuations and is considered to be riskier than CHAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KSTR	CHAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.14%	11.70%	+3.44%
Volatility (6M) Calculated over the trailing 6-month period	26.21%	22.78%	+3.43%
Volatility (1Y) Calculated over the trailing 1-year period	35.48%	33.37%	+2.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.31%	47.08%	-8.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.68%	47.14%	-9.46%

KSTR vs. CHAU - Expense Ratio Comparison

KSTR has a 0.89% expense ratio, which is lower than CHAU's 1.21% expense ratio.

Dividends

KSTR vs. CHAU - Dividend Comparison

KSTR has not paid dividends to shareholders, while CHAU's dividend yield for the trailing twelve months is around 1.73%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares	1.73%	1.97%	2.25%	3.97%	0.77%	1.73%	0.09%	0.58%	0.83%
KSTR KraneShares SSE STAR Market 50 Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KSTR and CHAU in my portfolio?

KSTR and CHAU have a correlation of 0.71, 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 CHAU?

KSTR has higher volatility (15.14%) compared to CHAU (11.70%). In terms of maximum drawdown, KSTR dropped -66.46% vs CHAU's -79.21%.

Which ETF is better, KSTR or CHAU?

On 5-year performance, KSTR leads with -0.21% vs -9.67% for CHAU. On fees, KSTR is cheaper at 0.89% per year. On volatility, CHAU has been the lower-risk option at 11.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KSTR or CHAU?

Over the 5-year period, KSTR has performed better with a -0.21% return vs -9.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KSTR or CHAU?

KSTR is cheaper with a 0.89% expense ratio, compared with 1.21% for CHAU.

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

CHAU has the higher dividend yield at 1.73%, compared with 0.00% for KSTR.

What is the main difference between KSTR and CHAU?

KSTR is categorized as China Equities, while CHAU is Leveraged Equities. KSTR tracks SSE Science and Technology Innovation Board 50 Index, while CHAU tracks CSI 300 Index (200%). They also come from different issuers: KraneShares and Direxion. Their fees differ too: 0.89% for KSTR and 1.21% for CHAU.

Which has better risk-adjusted returns?

CHAU currently has the higher Sharpe Ratio (2.42 vs 2.37), 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.