KSTR vs. KBUF

Last updated Jun 4, 2026

KSTR (KraneShares SSE STAR Market 50 Index ETF) and KBUF (KraneShares 90% KWEB Defined Outcome January 2026 ETF) are both exchange-traded funds - KSTR is a China Equities fund tracking the SSE Science and Technology Innovation Board 50 Index, while KBUF is a Options Trading fund actively managed by KraneShares. KSTR is passively managed, while KBUF is actively managed. Over the past year, KSTR returned 83.76% vs -3.13% for KBUF. A 0.52 correlation means they provide meaningful diversification when combined. KSTR charges 0.89%/yr vs 0.95%/yr for KBUF.

Performance

KSTR vs. KBUF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares SSE STAR Market 50 Index ETF (KSTR) and KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF). 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 KBUF's -11.47% return.

KSTR

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

KBUF

• 1D: -2.36%
• 1M: -3.27%
• YTD: -11.47%
• 6M: -11.63%
• 1Y: -3.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KSTR vs. KBUF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KSTR KraneShares SSE STAR Market 50 Index ETF	32.94%	42.82%	22.17%
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF	-11.47%	18.04%	16.58%

Correlation

The correlation between KSTR and KBUF is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Feb 9, 2024	0.52

The correlation between KSTR and KBUF has been stable across timeframes, ranging from 0.50 to 0.52 - a consistent structural relationship.

KSTR vs. KBUF - Sectors Allocation Comparison

Sectors	KSTR	KBUF
Technology	78.5%	3.6%
Industrials	6.5%	-
Healthcare	4.1%	6.9%
Consumer Cyclical	1.4%	38.4%
Energy	0.9%	-
Basic Materials	0.6%	-
Communication Services	-	40.1%
Consumer Defensive	-	4.3%
Financial Services	-	2.0%
Real Estate	-	4.8%
Utilities	-	-

Return for Risk

KSTR vs. KBUF — 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

KBUF

KBUF Risk / Return Rank: 6
KBUF Sharpe Ratio Rank: 6
KBUF Sortino Ratio Rank: 6
KBUF Omega Ratio Rank: 6
KBUF Calmar Ratio Rank: 7
KBUF Martin Ratio Rank: 7

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. KBUF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares SSE STAR Market 50 Index ETF (KSTR) and KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF). 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	KBUF	Difference
Sharpe ratio: Return per unit of total volatility	2.37	-0.24	+2.61
Sortino ratio: Return per unit of downside risk	3.02	-0.25	+3.27
Omega ratio: Gain probability vs. loss probability	1.40	0.97	+0.43
Calmar ratio: Return relative to maximum drawdown	4.76	-0.18	+4.94
Martin ratio: Return relative to average drawdown	12.06	-0.42	+12.48
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. KBUF - Sharpe Ratio Comparison

The current KSTR Sharpe Ratio is 2.37, which is higher than the KBUF Sharpe Ratio of -0.24. The chart below compares the historical Sharpe Ratios of KSTR and KBUF, 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	KBUF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	-0.24	+2.61
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	0.62	-0.62

Drawdowns

KSTR vs. KBUF - Drawdown Comparison

The maximum KSTR drawdown since its inception was -66.46%, which is greater than KBUF's maximum drawdown of -17.01%. Use the drawdown chart below to compare losses from any high point for KSTR and KBUF.

Drawdown Indicators

	KSTR	KBUF	Difference
Max Drawdown Largest peak-to-trough decline	-66.46%	-17.01%	-49.45%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-17.01%	-0.69%
Max Drawdown (3Y) Largest decline over 3 years	-41.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-66.46%	—	—
Current Drawdown Current decline from peak	-10.98%	-16.70%	+5.72%
Average Drawdown Average peak-to-trough decline	-38.77%	-4.16%	-34.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.97%	7.50%	-0.53%

Volatility

KSTR vs. KBUF - Volatility Comparison

KraneShares SSE STAR Market 50 Index ETF (KSTR) has a higher volatility of 15.14% compared to KraneShares 90% KWEB Defined Outcome January 2026 ETF (KBUF) at 6.22%. This indicates that KSTR's price experiences larger fluctuations and is considered to be riskier than KBUF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KSTR	KBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.14%	6.22%	+8.92%
Volatility (6M) Calculated over the trailing 6-month period	26.21%	10.53%	+15.68%
Volatility (1Y) Calculated over the trailing 1-year period	35.48%	13.10%	+22.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.31%	14.35%	+23.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.68%	14.35%	+23.33%

KSTR vs. KBUF - Expense Ratio Comparison

KSTR has a 0.89% expense ratio, which is lower than KBUF's 0.95% expense ratio.

Dividends

KSTR vs. KBUF - Dividend Comparison

KSTR has not paid dividends to shareholders, while KBUF's dividend yield for the trailing twelve months is around 8.49%.

Position	TTM	2025	2024
KBUF KraneShares 90% KWEB Defined Outcome January 2026 ETF	8.49%	7.51%	3.53%
KSTR KraneShares SSE STAR Market 50 Index ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KSTR and KBUF in my portfolio?

KSTR and KBUF have a correlation of 0.50, 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 KBUF?

KSTR has higher volatility (15.14%) compared to KBUF (6.22%). In terms of maximum drawdown, KSTR dropped -66.46% vs KBUF's -17.01%.

Which ETF is better, KSTR or KBUF?

On 1-year performance, KSTR leads with 83.76% vs -3.13% for KBUF. On fees, KSTR is cheaper at 0.89% per year. On volatility, KBUF has been the lower-risk option at 6.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KSTR or KBUF?

Over the 1-year period, KSTR has performed better with a 83.76% return vs -3.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KSTR or KBUF?

KSTR is cheaper with a 0.89% expense ratio, compared with 0.95% for KBUF.

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

KBUF has the higher dividend yield at 8.49%, compared with 0.00% for KSTR.

What is the main difference between KSTR and KBUF?

KSTR is categorized as China Equities, while KBUF is Options Trading. Their fees differ too: 0.89% for KSTR and 0.95% for KBUF.

Which has better risk-adjusted returns?

KSTR currently has the higher Sharpe Ratio (2.37 vs -0.24), 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.