KSTR vs. KHYB
KSTR (KraneShares SSE STAR Market 50 Index ETF) and KHYB (KraneShares Asia Pacific High Income Bond ETF) are both exchange-traded funds - KSTR is a China Equities fund tracking the SSE Science and Technology Innovation Board 50 Index, while KHYB is a Emerging Markets Bonds fund tracking the JP Morgan Asia Credit Index Non-Investment Grade Corporate Index.. Both are passively managed. Over the past 5 years, KSTR returned -2.88%/yr vs 0.87%/yr for KHYB. Their 0.14 correlation means their historical movements had little consistent relationship. KSTR charges 0.89%/yr vs 0.69%/yr for KHYB.
Performance
KSTR vs. KHYB - Performance Comparison
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Returns By Period
In the year-to-date period, KSTR achieves a 26.49% return, which is significantly higher than KHYB's 3.58% return.
KSTR
- 1D
- -1.30%
- 1M
- -16.50%
- 6M
- 12.10%
- YTD
- 26.49%
- 1Y
- 66.48%
- 3Y*
- 18.43%
- 5Y*
- -2.88%
- 10Y*
- —
- ALL TIME*
- -0.96%
KHYB
- 1D
- 0.00%
- 1M
- 0.62%
- 6M
- 1.80%
- YTD
- 3.58%
- 1Y
- 8.25%
- 3Y*
- 9.30%
- 5Y*
- 0.87%
- 10Y*
- —
- ALL TIME*
- 1.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $38.74K | $65.31K | $87.15K | |
| $27.29M | $25.28M | $18.73M |
KSTR vs. KHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KSTR KraneShares SSE STAR Market 50 Index ETF | 26.49% | 42.82% | 6.12% | -17.93% | -38.51% | -2.01% |
KHYB KraneShares Asia Pacific High Income Bond ETF | 3.58% | 9.59% | 10.79% | 3.50% | -10.15% | -12.03% |
Correlation
The correlation between KSTR and KHYB is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021 | 0.14 |
The correlation between KSTR and KHYB shifts across timeframes, from 0.14 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
KSTR vs. KHYB — Risk / Return Rank
KSTR
KHYB
KSTR vs. KHYB - 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 Asia Pacific High Income Bond ETF (KHYB). 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 | KHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.53 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 2.11 | +0.27 |
| Martin ratioReturn relative to average drawdown | 7.25 | 9.42 | -2.17 |
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Drawdowns
KSTR vs. KHYB - Drawdown Comparison
The maximum KSTR drawdown since its inception was -66.46%, which is greater than KHYB's maximum drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for KSTR and KHYB.
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Drawdown Indicators
| KSTR | KHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.46% | -33.63% | -32.83% |
Max Drawdown (1Y)Largest decline over 1 year | -27.23% | -3.97% | -23.26% |
Max Drawdown (3Y)Largest decline over 3 years | -41.55% | -4.89% | -36.66% |
Max Drawdown (5Y)Largest decline over 5 years | -65.99% | -32.43% | -33.56% |
Current DrawdownCurrent decline from peak | -27.23% | 0.00% | -27.23% |
Average DrawdownAverage peak-to-trough decline | -37.98% | -9.52% | -28.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.93% | 0.89% | +8.04% |
Volatility
KSTR vs. KHYB - Volatility Comparison
KraneShares SSE STAR Market 50 Index ETF (KSTR) has a higher volatility of 21.43% compared to KraneShares Asia Pacific High Income Bond ETF (KHYB) at 0.82%. This indicates that KSTR's price experiences larger fluctuations and is considered to be riskier than KHYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KSTR | KHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.43% | 0.82% | +20.61% |
Volatility (6M)Calculated over the trailing 6-month period | 36.10% | 3.13% | +32.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.94% | 3.47% | +40.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.83% | 6.30% | +33.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.86% | 5.67% | +33.19% |
KSTR vs. KHYB - Expense Ratio Comparison
KSTR has a 0.89% expense ratio, which is higher than KHYB's 0.69% expense ratio.
Dividends
KSTR vs. KHYB - Dividend Comparison
KSTR has not paid dividends to shareholders, while KHYB's dividend yield for the trailing twelve months is around 8.38%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
KHYB KraneShares Asia Pacific High Income Bond ETF | 8.38% | 7.59% | 10.11% | 15.55% | 9.67% | 6.22% | 4.76% | 4.86% | 2.56% |
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
KSTR and KHYB have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KSTR has higher volatility (21.43%) compared to KHYB (0.82%). In terms of maximum drawdown, KSTR dropped -66.46% vs KHYB's -33.63%.
On 5-year performance, KHYB leads with 0.87% vs -2.88% for KSTR. On fees, KHYB is cheaper at 0.69% per year. On volatility, KHYB has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KHYB has performed better with a 0.87% return vs -2.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KHYB is cheaper with a 0.69% expense ratio, compared with 0.89% for KSTR.
KHYB has the higher dividend yield at 8.38%, compared with 0.00% for KSTR.
KSTR is categorized as China Equities, while KHYB is Emerging Markets Bonds. KSTR tracks SSE Science and Technology Innovation Board 50 Index, while KHYB tracks JP Morgan Asia Credit Index Non-Investment Grade Corporate Index.. Their fees differ too: 0.89% for KSTR and 0.69% for KHYB.
KHYB currently has the higher Sharpe Ratio (2.41 vs 1.48), 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.
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