PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
KTEC vs. GXC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KTEC vs. GXC

Last updated Aug 2, 2026
Documentation

KTEC (KraneShares Hang Seng TECH Index ETF) and GXC (SPDR S&P China ETF) are both China Equities funds - KTEC tracks the Hang Seng Tech Index while GXC tracks the S&P China BMI Index. Both are passively managed. Over the past 5 years, KTEC returned -7.23%/yr vs -2.07%/yr for GXC. Their correlation of 0.92 means they have usually moved in the same direction. KTEC charges 0.69%/yr vs 0.59%/yr for GXC.

Performance

KTEC vs. GXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Hang Seng TECH Index ETF (KTEC) and SPDR S&P China ETF (GXC). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, KTEC achieves a -12.58% return, which is significantly lower than GXC's -4.85% return.

KTEC

1D
0.81%
1M
10.40%
6M
-14.54%
YTD
-12.58%
1Y
-11.77%
3Y*
0.64%
5Y*
-7.23%
10Y*
—
ALL TIME*
-10.38%

GXC

1D
0.38%
1M
6.09%
6M
-9.74%
YTD
-4.85%
1Y
3.49%
3Y*
7.77%
5Y*
-2.07%
10Y*
4.69%
ALL TIME*
4.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

GXC

SPDR S&P China ETF
$4.07M$2.78M$2.53M

KTEC

KraneShares Hang Seng TECH Index ETF
$941.66K$1.10M$1.04M

KTEC vs. GXC - Yearly Performance Comparison

2026 (YTD)20252024202320222021
KTEC
KraneShares Hang Seng TECH Index ETF		-12.58%21.01%16.13%-10.41%-26.12%-29.98%
GXC
SPDR S&P China ETF		-4.85%30.84%14.60%-9.93%-22.12%-20.54%

Correlation

The correlation between KTEC and GXC is 0.88, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.88

Correlation (3Y)
Balances recent behavior with more history.

0.92

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.92

Correlation (All Time)
Calculated using the full available price history since Jun 9, 2021

0.92

The correlation between KTEC and GXC has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

KTEC vs. GXC - Sectors Allocation Comparison

Sectors
KTEC
GXC

Consumer Cyclical

43.0%
20.1%

Communication Services

30.4%
13.4%

Technology

24.7%
9.6%

Industrials

8.6%
6.8%

Healthcare

1.9%
6.0%

Basic Materials

-

4.5%

Consumer Defensive

-

2.5%

Energy

-

2.6%

Financial Services

-

14.9%

Real Estate

-

1.7%

Utilities

-

1.2%

Consumer Cyclical

KTEC
43.0%
GXC
20.1%

Communication Services

KTEC
30.4%
GXC
13.4%

Technology

KTEC
24.7%
GXC
9.6%

Industrials

KTEC
8.6%
GXC
6.8%

Healthcare

KTEC
1.9%
GXC
6.0%

Basic Materials

KTEC

-

GXC
4.5%

Consumer Defensive

KTEC

-

GXC
2.5%

Energy

KTEC

-

GXC
2.6%

Financial Services

KTEC

-

GXC
14.9%

Real Estate

KTEC

-

GXC
1.7%

Utilities

KTEC

-

GXC
1.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

KraneShares Hang Seng TECH Index ETF

SPDR S&P China ETF

Often compared with KTEC:
KTEC vs. KWEBKTEC vs. MCHIKTEC vs. ^HSIKTEC vs. TCHIKTEC vs. HSTE.LKTEC vs. FDVKTEC vs. WEX
Often compared with GXC:
GXC vs. MCHIGXC vs. KWEBGXC vs. ASHRGXC vs. SPYGXC vs. FXIGXC vs. CQQQGXC vs. CNYA

Return for Risk

KTEC vs. GXC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
KTEC
KTEC Risk / Return Rank: 66
Overall Rank
KTEC Sharpe Ratio Rank: 55
Sharpe Ratio Rank
KTEC Sortino Ratio Rank: 55
Sortino Ratio Rank
KTEC Omega Ratio Rank: 55
Omega Ratio Rank
KTEC Calmar Ratio Rank: 66
Calmar Ratio Rank
KTEC Martin Ratio Rank: 66
Martin Ratio Rank
GXC
GXC Risk / Return Rank: 1313
Overall Rank
GXC Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
GXC Sortino Ratio Rank: 1313
Sortino Ratio Rank
GXC Omega Ratio Rank: 1313
Omega Ratio Rank
GXC Calmar Ratio Rank: 1313
Calmar Ratio Rank
GXC Martin Ratio Rank: 1212
Martin Ratio Rank
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.

KTEC vs. GXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Hang Seng TECH Index ETF (KTEC) and SPDR S&P China ETF (GXC). 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.

KTECGXCDifference
Sharpe ratioReturn per unit of total volatility
-0.49
0.10

-0.59

Sortino ratioReturn per unit of downside risk
-0.54
0.28

-0.82

Omega ratioGain probability vs. loss probability

0.94

1.03

-0.09

Calmar ratioReturn relative to maximum drawdown

-0.38

0.11

-0.49

Martin ratioReturn relative to average drawdown

-0.67

0.24

-0.91

KTEC vs. GXC - Sharpe Ratio Comparison

The current KTEC Sharpe Ratio is -0.49, which is lower than the GXC Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of KTEC and GXC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

KTEC vs. GXC - Drawdown Comparison

The maximum KTEC drawdown since its inception was -66.90%, smaller than the maximum GXC drawdown of -71.96%. Use the drawdown chart below to compare losses from any high point for KTEC and GXC.

Loading charts...

Drawdown Indicators

KTECGXCDifference

Max Drawdown

Largest peak-to-trough decline

-66.90%

-71.96%

+5.06%

Max Drawdown (1Y)

Largest decline over 1 year

-36.49%

-17.77%

-18.72%

Max Drawdown (3Y)

Largest decline over 3 years

-36.49%

-25.54%

-10.95%

Max Drawdown (5Y)

Largest decline over 5 years

-60.08%

-48.78%

-11.30%

Max Drawdown (10Y)

Largest decline over 10 years

—

-60.23%

—

Current Drawdown

Current decline from peak

-44.83%

-32.76%

-12.07%

Average Drawdown

Average peak-to-trough decline

-44.05%

-28.86%

-15.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

20.47%

8.51%

+11.96%

Volatility

KTEC vs. GXC - Volatility Comparison

KraneShares Hang Seng TECH Index ETF (KTEC) has a higher volatility of 7.27% compared to SPDR S&P China ETF (GXC) at 5.39%. This indicates that KTEC's price experiences larger fluctuations and is considered to be riskier than GXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

KTECGXCDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.27%

5.39%

+1.88%

Volatility (6M)

Calculated over the trailing 6-month period

20.32%

13.92%

+6.40%

Volatility (1Y)

Calculated over the trailing 1-year period

28.20%

19.44%

+8.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

42.63%

28.70%

+13.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

42.75%

26.05%

+16.70%

KTEC vs. GXC - Expense Ratio Comparison

KTEC has a 0.69% expense ratio, which is higher than GXC's 0.59% expense ratio.

Dividends

KTEC vs. GXC - Dividend Comparison

KTEC's dividend yield for the trailing twelve months is around 3.84%, more than GXC's 2.18% yield.

PositionTTM20252024202320222021202020192018201720162015
GXC
SPDR S&P China ETF		2.18%2.40%2.81%3.70%2.67%1.35%1.04%1.60%2.03%1.84%2.05%2.85%
KTEC
KraneShares Hang Seng TECH Index ETF		3.84%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

KTEC and GXC have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KTEC has higher volatility (7.27%) compared to GXC (5.39%). In terms of maximum drawdown, KTEC dropped -66.90% vs GXC's -71.96%.

On 5-year performance, GXC leads with -2.07% vs -7.23% for KTEC. On fees, GXC is cheaper at 0.59% per year. On volatility, GXC has been the lower-risk option at 5.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, GXC has performed better with a -2.07% return vs -7.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GXC is cheaper with a 0.59% expense ratio, compared with 0.69% for KTEC.

KTEC has the higher dividend yield at 3.84%, compared with 2.18% for GXC.

KTEC tracks Hang Seng Tech Index, while GXC tracks S&P China BMI Index. They also come from different issuers: KraneShares and State Street. Their fees differ too: 0.69% for KTEC and 0.59% for GXC.

GXC currently has the higher Sharpe Ratio (0.10 vs -0.49), 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.

Portfolio Optimizer

Find the right allocation for KTEC and GXC

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer