KSTR vs. MCHI

Last updated Aug 2, 2026

KSTR (KraneShares SSE STAR Market 50 Index ETF) and MCHI (iShares MSCI China ETF) are both China Equities funds - KSTR tracks the SSE Science and Technology Innovation Board 50 Index while MCHI tracks the MSCI China Index. Both are passively managed. Over the past 5 years, KSTR returned -2.88%/yr vs -2.80%/yr for MCHI. Their 0.53 correlation means they have sometimes moved together and sometimes differently. KSTR charges 0.89%/yr vs 0.59%/yr for MCHI.

Performance

KSTR vs. MCHI - Performance Comparison

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

Returns By Period

In the year-to-date period, KSTR achieves a 26.49% return, which is significantly higher than MCHI's -6.49% 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%

MCHI

• 1D: 0.54%
• 1M: 9.61%
• 6M: -9.98%
• YTD: -6.49%
• 1Y: 0.60%
• 3Y*: 7.33%
• 5Y*: -2.80%
• 10Y*: 4.22%
• ALL TIME*: 2.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KSTR KraneShares SSE STAR Market 50 Index ETF	$27.29M	$25.28M	$18.73M
MCHI iShares MSCI China ETF	$148.99M	$159.51M	$173.67M

KSTR vs. MCHI - 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%
MCHI iShares MSCI China ETF	-6.49%	31.04%	17.73%	-11.94%	-23.01%	-31.16%

Correlation

The correlation between KSTR and MCHI is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.52
Correlation (3Y) Balances recent behavior with more history.	0.57
Correlation (5Y) Shows whether the relationship held over a longer period.	0.52
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021	0.53

The correlation between KSTR and MCHI has been stable across timeframes, ranging from 0.52 to 0.57 - a consistent structural relationship.

KSTR vs. MCHI - Sectors Allocation Comparison

Sectors	KSTR	MCHI
Technology	82.1%	13.9%
Healthcare	3.7%	5.3%
Industrials	3.3%	5.4%
Basic Materials	1.7%	5.1%
Energy	0.9%	3.4%
Consumer Cyclical	0.7%	22.4%
Communication Services	-	19.3%
Consumer Defensive	-	2.9%
Financial Services	-	19.2%
Real Estate	-	1.5%
Utilities	-	1.6%

Return for Risk

KSTR vs. MCHI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KSTR

KSTR Risk / Return Rank: 64
KSTR Sharpe Ratio Rank: 64
KSTR Sortino Ratio Rank: 63
KSTR Omega Ratio Rank: 64
KSTR Calmar Ratio Rank: 69
KSTR Martin Ratio Rank: 61

MCHI

MCHI Risk / Return Rank: 10
MCHI Sharpe Ratio Rank: 10
MCHI Sortino Ratio Rank: 10
MCHI Omega Ratio Rank: 10
MCHI Calmar Ratio Rank: 10
MCHI Martin Ratio Rank: 10

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KSTR vs. MCHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares SSE STAR Market 50 Index ETF (KSTR) and iShares MSCI China ETF (MCHI). 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	MCHI	Difference
Sharpe ratio: Return per unit of total volatility	1.48	-0.05	+1.52
Sortino ratio: Return per unit of downside risk	2.10	0.08	+2.02
Omega ratio: Gain probability vs. loss probability	1.27	1.01	+0.26
Calmar ratio: Return relative to maximum drawdown	2.38	-0.04	+2.42
Martin ratio: Return relative to average drawdown	7.25	-0.09	+7.33

KSTR vs. MCHI - Sharpe Ratio Comparison

The current KSTR Sharpe Ratio is 1.48, which is higher than the MCHI Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of KSTR and MCHI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KSTR vs. MCHI - Drawdown Comparison

The maximum KSTR drawdown since its inception was -66.46%, which is greater than MCHI's maximum drawdown of -62.95%. Use the drawdown chart below to compare losses from any high point for KSTR and MCHI.

Drawdown Indicators

	KSTR	MCHI	Difference
Max Drawdown Largest peak-to-trough decline	-66.46%	-62.95%	-3.51%
Max Drawdown (1Y) Largest decline over 1 year	-27.23%	-23.22%	-4.01%
Max Drawdown (3Y) Largest decline over 3 years	-41.55%	-25.35%	-16.20%
Max Drawdown (5Y) Largest decline over 5 years	-65.99%	-51.41%	-14.58%
Max Drawdown (10Y) Largest decline over 10 years	—	-62.95%	—
Current Drawdown Current decline from peak	-27.23%	-36.24%	+9.01%
Average Drawdown Average peak-to-trough decline	-37.98%	-24.67%	-13.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.93%	11.26%	-2.33%

Volatility

KSTR vs. MCHI - Volatility Comparison

KraneShares SSE STAR Market 50 Index ETF (KSTR) has a higher volatility of 21.43% compared to iShares MSCI China ETF (MCHI) at 5.57%. This indicates that KSTR's price experiences larger fluctuations and is considered to be riskier than MCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KSTR	MCHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.43%	5.57%	+15.86%
Volatility (6M) Calculated over the trailing 6-month period	36.10%	14.73%	+21.37%
Volatility (1Y) Calculated over the trailing 1-year period	43.94%	20.62%	+23.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.83%	30.41%	+9.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.86%	27.35%	+11.51%

KSTR vs. MCHI - Expense Ratio Comparison

KSTR has a 0.89% expense ratio, which is higher than MCHI's 0.59% expense ratio.

Dividends

KSTR vs. MCHI - Dividend Comparison

KSTR has not paid dividends to shareholders, while MCHI's dividend yield for the trailing twelve months is around 1.96%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%	0.00%
MCHI iShares MSCI China ETF	1.96%	2.12%	2.31%	2.66%	1.78%	1.04%	1.04%	1.45%	1.60%	1.56%	1.66%	2.76%

Frequently Asked Questions

Can I hold both KSTR and MCHI in my portfolio?

KSTR and MCHI have a correlation of 0.52, 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 MCHI?

KSTR has higher volatility (21.43%) compared to MCHI (5.57%). In terms of maximum drawdown, KSTR dropped -66.46% vs MCHI's -62.95%.

Which ETF is better, KSTR or MCHI?

On 5-year performance, MCHI leads with -2.80% vs -2.88% for KSTR. On fees, MCHI is cheaper at 0.59% per year. On volatility, MCHI has been the lower-risk option at 5.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KSTR or MCHI?

Over the 5-year period, MCHI has performed better with a -2.80% return vs -2.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KSTR or MCHI?

MCHI is cheaper with a 0.59% expense ratio, compared with 0.89% for KSTR.

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

MCHI has the higher dividend yield at 1.96%, compared with 0.00% for KSTR.

What is the main difference between KSTR and MCHI?

KSTR tracks SSE Science and Technology Innovation Board 50 Index, while MCHI tracks MSCI China Index. They also come from different issuers: KraneShares and iShares. Their fees differ too: 0.89% for KSTR and 0.59% for MCHI.

Which has better risk-adjusted returns?

KSTR currently has the higher Sharpe Ratio (1.48 vs -0.05), 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.