KSTR vs. SBIT

Last updated Jul 14, 2026

KSTR (KraneShares SSE STAR Market 50 Index ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - KSTR is a China Equities fund tracking the SSE Science and Technology Innovation Board 50 Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, KSTR returned 108.49% vs 124.12% for SBIT. At a correlation of -0.19, they often move in opposite directions. KSTR charges 0.89%/yr vs 0.95%/yr for SBIT.

Performance

KSTR vs. SBIT - Performance Comparison

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

Returns By Period

In the year-to-date period, KSTR achieves a 52.98% return, which is significantly higher than SBIT's 44.00% return.

KSTR

• 1D: -5.54%
• 1M: 17.74%
• 6M: 33.72%
• YTD: 52.98%
• 1Y: 108.49%
• 3Y*: 24.92%
• 5Y*: 1.09%
• 10Y*: —

SBIT

• 1D: 5.38%
• 1M: 1.44%
• 6M: 58.27%
• YTD: 44.00%
• 1Y: 124.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KSTR vs. SBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KSTR KraneShares SSE STAR Market 50 Index ETF	52.98%	42.82%	17.74%
SBIT Proshares Ultrashort Bitcoin ETF	44.00%	-25.11%	-73.74%

Correlation

The correlation between KSTR and SBIT is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.29
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	-0.19

The correlation between KSTR and SBIT shifts across timeframes, from -0.29 (1 year) to -0.19 (all time), reflecting how their relationship changes across market environments.

Return for Risk

KSTR vs. SBIT — Risk / Return Rank

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

KSTR

KSTR Risk / Return Rank: 90
KSTR Sharpe Ratio Rank: 93
KSTR Sortino Ratio Rank: 87
KSTR Omega Ratio Rank: 87
KSTR Calmar Ratio Rank: 95
KSTR Martin Ratio Rank: 88

SBIT

SBIT Risk / Return Rank: 52
SBIT Sharpe Ratio Rank: 51
SBIT Sortino Ratio Rank: 52
SBIT Omega Ratio Rank: 48
SBIT Calmar Ratio Rank: 66
SBIT Martin Ratio Rank: 45

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. SBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares SSE STAR Market 50 Index ETF (KSTR) and Proshares Ultrashort Bitcoin ETF (SBIT). 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	SBIT	Difference
Sharpe ratio: Return per unit of total volatility	2.67	1.41	+1.25
Sortino ratio: Return per unit of downside risk	3.17	2.05	+1.12
Omega ratio: Gain probability vs. loss probability	1.43	1.25	+0.18
Calmar ratio: Return relative to maximum drawdown	6.16	2.60	+3.56
Martin ratio: Return relative to average drawdown	14.79	5.92	+8.87

KSTR vs. SBIT - Sharpe Ratio Comparison

The current KSTR Sharpe Ratio is 2.67, which is higher than the SBIT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of KSTR and SBIT, 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. SBIT - Drawdown Comparison

The maximum KSTR drawdown since its inception was -66.46%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for KSTR and SBIT.

Drawdown Indicators

	KSTR	SBIT	Difference
Max Drawdown Largest peak-to-trough decline	-66.46%	-91.35%	+24.89%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-47.94%	+30.24%
Max Drawdown (3Y) Largest decline over 3 years	-41.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-66.31%	—	—
Current Drawdown Current decline from peak	-11.99%	-77.15%	+65.16%
Average Drawdown Average peak-to-trough decline	-38.15%	-68.83%	+30.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.36%	21.04%	-13.68%

Volatility

KSTR vs. SBIT - Volatility Comparison

The current volatility for KraneShares SSE STAR Market 50 Index ETF (KSTR) is 20.33%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 22.98%. This indicates that KSTR experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KSTR	SBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.33%	22.98%	-2.65%
Volatility (6M) Calculated over the trailing 6-month period	33.29%	68.89%	-35.60%
Volatility (1Y) Calculated over the trailing 1-year period	41.01%	88.51%	-47.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.31%	96.89%	-57.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.44%	96.89%	-58.45%

KSTR vs. SBIT - Expense Ratio Comparison

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

Dividends

KSTR vs. SBIT - Dividend Comparison

KSTR has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 3.97%.

Position	TTM	2025	2024
KSTR KraneShares SSE STAR Market 50 Index ETF	0.00%	0.00%	0.00%
SBIT Proshares Ultrashort Bitcoin ETF	3.97%	0.52%	1.00%

Frequently Asked Questions

Can I hold both KSTR and SBIT in my portfolio?

KSTR and SBIT have a correlation of -0.29, 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 SBIT?

SBIT has higher volatility (22.98%) compared to KSTR (20.33%). In terms of maximum drawdown, KSTR dropped -66.46% vs SBIT's -91.35%.

Which ETF is better, KSTR or SBIT?

On 1-year performance, SBIT leads with 124.12% vs 108.49% for KSTR. On fees, KSTR is cheaper at 0.89% per year. On volatility, KSTR has been the lower-risk option at 20.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KSTR or SBIT?

Over the 1-year period, SBIT has performed better with a 124.12% return vs 108.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KSTR or SBIT?

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

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

SBIT has the higher dividend yield at 3.97%, compared with 0.00% for KSTR.

What is the main difference between KSTR and SBIT?

KSTR is categorized as China Equities, while SBIT is Cryptocurrency. KSTR tracks SSE Science and Technology Innovation Board 50 Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: KraneShares and ProShares. Their fees differ too: 0.89% for KSTR and 0.95% for SBIT.

Which has better risk-adjusted returns?

KSTR currently has the higher Sharpe Ratio (2.67 vs 1.41), 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.