KTEC vs. KHYB

Last updated Jun 24, 2026

KTEC (KraneShares Hang Seng TECH Index ETF) and KHYB (KraneShares Asia Pacific High Income Bond ETF) are both exchange-traded funds - KTEC is a China Equities fund tracking the Hang Seng Tech 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, KTEC returned -12.60%/yr vs 0.15%/yr for KHYB. At a 0.25 correlation, their price movements are largely independent. Both charge a 0.69% expense ratio.

Performance

KTEC vs. KHYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Hang Seng TECH Index ETF (KTEC) and KraneShares Asia Pacific High Income Bond ETF (KHYB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KTEC achieves a -21.33% return, which is significantly lower than KHYB's 2.54% return.

KTEC

• 1D: -2.22%
• 1M: -7.85%
• YTD: -21.33%
• 6M: -21.98%
• 1Y: -19.03%
• 3Y*: 3.17%
• 5Y*: -12.60%
• 10Y*: —

KHYB

• 1D: -0.15%
• 1M: 0.82%
• YTD: 2.54%
• 6M: 2.56%
• 1Y: 9.47%
• 3Y*: 8.35%
• 5Y*: 0.15%
• 10Y*: —

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

KTEC vs. KHYB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
KTEC KraneShares Hang Seng TECH Index ETF	-21.33%	21.01%	16.13%	-10.41%	-26.12%	-29.98%
KHYB KraneShares Asia Pacific High Income Bond ETF	2.54%	9.59%	10.79%	3.50%	-10.15%	-13.14%

Correlation

The correlation between KTEC and KHYB is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jun 9, 2021	0.25

The correlation between KTEC and KHYB shifts across timeframes, from 0.25 (5 years) to 0.37 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

KTEC vs. KHYB — Risk / Return Rank

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

KTEC

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

KHYB

KHYB Risk / Return Rank: 78
KHYB Sharpe Ratio Rank: 89
KHYB Sortino Ratio Rank: 93
KHYB Omega Ratio Rank: 94
KHYB Calmar Ratio Rank: 52
KHYB Martin Ratio Rank: 63

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. KHYB - Risk-Adjusted Trends Comparison

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

	KTEC	KHYB	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	2.77	-3.45
Sortino ratio: Return per unit of downside risk	-0.88	4.29	-5.17
Omega ratio: Gain probability vs. loss probability	0.90	1.62	-0.71
Calmar ratio: Return relative to maximum drawdown	-0.55	2.40	-2.95
Martin ratio: Return relative to average drawdown	-1.08	10.74	-11.82

KTEC vs. KHYB - Sharpe Ratio Comparison

The current KTEC Sharpe Ratio is -0.69, which is lower than the KHYB Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of KTEC and KHYB, 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. KHYB - Drawdown Comparison

The maximum KTEC drawdown since its inception was -66.90%, which is greater than KHYB's maximum drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for KTEC and KHYB.

Drawdown Indicators

	KTEC	KHYB	Difference
Max Drawdown Largest peak-to-trough decline	-66.90%	-33.63%	-33.27%
Max Drawdown (1Y) Largest decline over 1 year	-34.76%	-3.97%	-30.79%
Max Drawdown (3Y) Largest decline over 3 years	-34.76%	-5.44%	-29.32%
Max Drawdown (5Y) Largest decline over 5 years	-66.90%	-32.72%	-34.18%
Current Drawdown Current decline from peak	-50.35%	-0.58%	-49.77%
Average Drawdown Average peak-to-trough decline	-43.97%	-9.65%	-34.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.67%	0.88%	+16.79%

Volatility

KTEC vs. KHYB - Volatility Comparison

KraneShares Hang Seng TECH Index ETF (KTEC) has a higher volatility of 8.17% compared to KraneShares Asia Pacific High Income Bond ETF (KHYB) at 0.88%. This indicates that KTEC'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.

Volatility by Period

	KTEC	KHYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.17%	0.88%	+7.29%
Volatility (6M) Calculated over the trailing 6-month period	20.90%	3.08%	+17.82%
Volatility (1Y) Calculated over the trailing 1-year period	27.88%	3.44%	+24.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.21%	6.33%	+36.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.05%	5.70%	+37.35%

KTEC vs. KHYB - Expense Ratio Comparison

Both KTEC and KHYB have an expense ratio of 0.69%.

Dividends

KTEC vs. KHYB - Dividend Comparison

KTEC's dividend yield for the trailing twelve months is around 4.26%, less than KHYB's 8.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
KHYB KraneShares Asia Pacific High Income Bond ETF	8.13%	7.59%	10.11%	15.55%	9.67%	6.22%	4.76%	4.86%	2.56%
KTEC KraneShares Hang Seng TECH Index ETF	4.26%	3.36%	0.27%	0.81%	0.16%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KTEC and KHYB in my portfolio?

KTEC and KHYB have a correlation of 0.37, 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 KHYB?

KTEC has higher volatility (8.17%) compared to KHYB (0.88%). In terms of maximum drawdown, KTEC dropped -66.90% vs KHYB's -33.63%.

Which ETF is better, KTEC or KHYB?

On 5-year performance, KHYB leads with 0.15% vs -12.60% for KTEC. Both ETFs have the same 0.69% expense ratio. On volatility, KHYB has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KTEC or KHYB?

Over the 5-year period, KHYB has performed better with a 0.15% return vs -12.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KTEC or KHYB?

KTEC and KHYB have the same expense ratio: 0.69% per year.

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

KHYB has the higher dividend yield at 8.13%, compared with 4.26% for KTEC.

What is the main difference between KTEC and KHYB?

KTEC is categorized as China Equities, while KHYB is Emerging Markets Bonds. KTEC tracks Hang Seng Tech Index, while KHYB tracks JP Morgan Asia Credit Index Non-Investment Grade Corporate Index..

Which has better risk-adjusted returns?

KHYB currently has the higher Sharpe Ratio (2.77 vs -0.69), 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.