KTEC vs. EWG

Last updated Jun 13, 2026

KTEC (KraneShares Hang Seng TECH Index ETF) and EWG (iShares MSCI Germany ETF) are both exchange-traded funds - KTEC is a China Equities fund tracking the Hang Seng Tech Index, while EWG is a Europe Equities fund tracking the MSCI Germany Index. Both are passively managed. Over the past 5 years, KTEC returned -11.24%/yr vs 5.72%/yr for EWG. At a 0.42 correlation, their price movements are largely independent. KTEC charges 0.69%/yr vs 0.49%/yr for EWG.

Performance

KTEC vs. EWG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Hang Seng TECH Index ETF (KTEC) and iShares MSCI Germany ETF (EWG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KTEC achieves a -16.16% return, which is significantly lower than EWG's -0.45% return.

KTEC

• 1D: -0.68%
• 1M: -11.70%
• YTD: -16.16%
• 6M: -17.79%
• 1Y: -16.98%
• 3Y*: 3.50%
• 5Y*: -11.24%
• 10Y*: —

EWG

• 1D: 0.09%
• 1M: 0.36%
• YTD: -0.45%
• 6M: 0.31%
• 1Y: 1.88%
• 3Y*: 15.78%
• 5Y*: 5.72%
• 10Y*: 8.18%

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

KTEC vs. EWG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
KTEC KraneShares Hang Seng TECH Index ETF	-16.16%	21.01%	16.13%	-10.41%	-26.12%	-29.98%
EWG iShares MSCI Germany ETF	-0.45%	35.79%	9.79%	23.35%	-22.27%	-7.40%

Correlation

The correlation between KTEC and EWG is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 9, 2021	0.42

KTEC vs. EWG - Sectors Allocation Comparison

Sectors	KTEC	EWG
Consumer Cyclical	48.6%	8.2%
Communication Services	27.6%	6.6%
Technology	21.3%	13.8%
Healthcare	2.5%	6.1%
Basic Materials	-	5.8%
Consumer Defensive	-	1.4%
Energy	-	-
Financial Services	-	21.6%
Industrials	-	30.3%
Real Estate	-	1.3%
Utilities	-	4.9%

Return for Risk

KTEC vs. EWG — Risk / Return Rank

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

KTEC

KTEC Risk / Return Rank: 5
KTEC Sharpe Ratio Rank: 5
KTEC Sortino Ratio Rank: 4
KTEC Omega Ratio Rank: 5
KTEC Calmar Ratio Rank: 5
KTEC Martin Ratio Rank: 5

EWG

EWG Risk / Return Rank: 11
EWG Sharpe Ratio Rank: 11
EWG Sortino Ratio Rank: 11
EWG Omega Ratio Rank: 11
EWG Calmar Ratio Rank: 11
EWG Martin Ratio Rank: 11

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.

KTEC vs. EWG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Hang Seng TECH Index ETF (KTEC) and iShares MSCI Germany ETF (EWG). 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.

	KTEC	EWG	Difference
Sharpe ratio: Return per unit of total volatility	-0.61	0.11	-0.72
Sortino ratio: Return per unit of downside risk	-0.75	0.27	-1.02
Omega ratio: Gain probability vs. loss probability	0.92	1.03	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.56	0.13	-0.69
Martin ratio: Return relative to average drawdown	-1.00	0.38	-1.38

KTEC vs. EWG - Sharpe Ratio Comparison

The current KTEC Sharpe Ratio is -0.61, which is lower than the EWG Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of KTEC and EWG, 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

KTEC vs. EWG - Drawdown Comparison

The maximum KTEC drawdown since its inception was -66.90%, roughly equal to the maximum EWG drawdown of -67.57%. Use the drawdown chart below to compare losses from any high point for KTEC and EWG.

Drawdown Indicators

	KTEC	EWG	Difference
Max Drawdown Largest peak-to-trough decline	-66.90%	-67.57%	+0.67%
Max Drawdown (1Y) Largest decline over 1 year	-30.47%	-14.54%	-15.93%
Max Drawdown (3Y) Largest decline over 3 years	-34.71%	-15.81%	-18.90%
Max Drawdown (5Y) Largest decline over 5 years	-66.90%	-43.23%	-23.67%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.80%	—
Current Drawdown Current decline from peak	-47.09%	-5.05%	-42.04%
Average Drawdown Average peak-to-trough decline	-43.95%	-19.18%	-24.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.97%	4.97%	+12.00%

Volatility

KTEC vs. EWG - Volatility Comparison

KraneShares Hang Seng TECH Index ETF (KTEC) has a higher volatility of 9.07% compared to iShares MSCI Germany ETF (EWG) at 6.22%. This indicates that KTEC's price experiences larger fluctuations and is considered to be riskier than EWG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KTEC	EWG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.07%	6.22%	+2.85%
Volatility (6M) Calculated over the trailing 6-month period	20.61%	14.61%	+6.00%
Volatility (1Y) Calculated over the trailing 1-year period	28.01%	17.66%	+10.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.16%	20.54%	+22.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.11%	21.10%	+22.01%

KTEC vs. EWG - Expense Ratio Comparison

KTEC has a 0.69% expense ratio, which is higher than EWG's 0.49% expense ratio.

Dividends

KTEC vs. EWG - Dividend Comparison

KTEC's dividend yield for the trailing twelve months is around 4.00%, more than EWG's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWG iShares MSCI Germany ETF	1.61%	1.60%	2.38%	2.56%	3.24%	2.70%	1.67%	2.51%	2.93%	2.06%	2.35%	1.93%
KTEC KraneShares Hang Seng TECH Index ETF	4.00%	3.36%	0.27%	0.81%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KTEC and EWG in my portfolio?

KTEC and EWG have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KTEC or EWG?

KTEC has higher volatility (9.07%) compared to EWG (6.22%). In terms of maximum drawdown, KTEC dropped -66.90% vs EWG's -67.57%.

Which ETF is better, KTEC or EWG?

On 5-year performance, EWG leads with 5.72% vs -11.24% for KTEC. On fees, EWG is cheaper at 0.49% per year. On volatility, EWG 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, KTEC or EWG?

Over the 5-year period, EWG has performed better with a 5.72% return vs -11.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KTEC or EWG?

EWG is cheaper with a 0.49% expense ratio, compared with 0.69% for KTEC.

Which ETF pays a higher dividend yield, KTEC or EWG?

KTEC has the higher dividend yield at 4.00%, compared with 1.61% for EWG.

What is the main difference between KTEC and EWG?

KTEC is categorized as China Equities, while EWG is Europe Equities. KTEC tracks Hang Seng Tech Index, while EWG tracks MSCI Germany Index. They also come from different issuers: KraneShares and iShares. Their fees differ too: 0.69% for KTEC and 0.49% for EWG.

Which has better risk-adjusted returns?

EWG currently has the higher Sharpe Ratio (0.11 vs -0.61), 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.