KTEC vs. KSPY

Last updated Jun 4, 2026

KTEC (KraneShares Hang Seng TECH Index ETF) and KSPY (Kraneshares Hedgeye Hedged Equity Index ETF) are both exchange-traded funds - KTEC is a China Equities fund tracking the Hang Seng Tech Index, while KSPY is a Equity Hedged fund tracking the Hedgeye Hedged Equity Index. Both are passively managed. Over the past year, KTEC returned -8.17% vs 18.09% for KSPY. At a 0.37 correlation, their price movements are largely independent. KTEC charges 0.69%/yr vs 0.78%/yr for KSPY.

Performance

KTEC vs. KSPY - Performance Comparison

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

Returns By Period

In the year-to-date period, KTEC achieves a -11.17% return, which is significantly lower than KSPY's 5.43% return.

KTEC

• 1D: -3.20%
• 1M: -0.29%
• YTD: -11.17%
• 6M: -12.80%
• 1Y: -8.17%
• 3Y*: 7.14%
• 5Y*: —
• 10Y*: —

KSPY

• 1D: -0.28%
• 1M: 1.96%
• YTD: 5.43%
• 6M: 5.87%
• 1Y: 18.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KTEC vs. KSPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KTEC KraneShares Hang Seng TECH Index ETF	-11.17%	21.01%	17.08%
KSPY Kraneshares Hedgeye Hedged Equity Index ETF	5.43%	13.89%	3.43%

Correlation

The correlation between KTEC and KSPY is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jul 17, 2024	0.37

KTEC vs. KSPY - Sectors Allocation Comparison

Sectors	KTEC	KSPY
Consumer Cyclical	48.6%	10.1%
Communication Services	27.6%	10.9%
Technology	21.3%	36.2%
Healthcare	2.5%	8.4%
Basic Materials	-	1.8%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Financial Services	-	11.9%
Industrials	-	8.1%
Real Estate	-	1.9%
Utilities	-	2.3%

Return for Risk

KTEC vs. KSPY — Risk / Return Rank

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

KTEC

KTEC Risk / Return Rank: 6
KTEC Sharpe Ratio Rank: 6
KTEC Sortino Ratio Rank: 6
KTEC Omega Ratio Rank: 6
KTEC Calmar Ratio Rank: 6
KTEC Martin Ratio Rank: 6

KSPY

KSPY Risk / Return Rank: 85
KSPY Sharpe Ratio Rank: 80
KSPY Sortino Ratio Rank: 84
KSPY Omega Ratio Rank: 91
KSPY Calmar Ratio Rank: 80
KSPY Martin Ratio Rank: 91

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. KSPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Hang Seng TECH Index ETF (KTEC) and Kraneshares Hedgeye Hedged Equity Index ETF (KSPY). 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.

	KTEC	KSPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.29	2.60	-2.89
Sortino ratio: Return per unit of downside risk	-0.24	3.76	-3.99
Omega ratio: Gain probability vs. loss probability	0.97	1.59	-0.62
Calmar ratio: Return relative to maximum drawdown	-0.28	4.07	-4.35
Martin ratio: Return relative to average drawdown	-0.50	21.74	-22.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KTEC vs. KSPY - Sharpe Ratio Comparison

The current KTEC Sharpe Ratio is -0.29, which is lower than the KSPY Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of KTEC and KSPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KTEC	KSPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.29	2.60	-2.89
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	1.17	-1.40

Drawdowns

KTEC vs. KSPY - Drawdown Comparison

The maximum KTEC drawdown since its inception was -66.90%, which is greater than KSPY's maximum drawdown of -11.67%. Use the drawdown chart below to compare losses from any high point for KTEC and KSPY.

Drawdown Indicators

	KTEC	KSPY	Difference
Max Drawdown Largest peak-to-trough decline	-66.90%	-11.67%	-55.23%
Max Drawdown (1Y) Largest decline over 1 year	-29.36%	-4.46%	-24.90%
Max Drawdown (3Y) Largest decline over 3 years	-34.71%	—	—
Current Drawdown Current decline from peak	-43.95%	-0.28%	-43.67%
Average Drawdown Average peak-to-trough decline	-43.97%	-1.18%	-42.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.26%	0.83%	+15.43%

Volatility

KTEC vs. KSPY - Volatility Comparison

KraneShares Hang Seng TECH Index ETF (KTEC) has a higher volatility of 10.62% compared to Kraneshares Hedgeye Hedged Equity Index ETF (KSPY) at 0.76%. This indicates that KTEC's price experiences larger fluctuations and is considered to be riskier than KSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KTEC	KSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.62%	0.76%	+9.86%
Volatility (6M) Calculated over the trailing 6-month period	20.56%	5.51%	+15.05%
Volatility (1Y) Calculated over the trailing 1-year period	28.01%	7.00%	+21.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.22%	10.53%	+32.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.22%	10.53%	+32.69%

KTEC vs. KSPY - Expense Ratio Comparison

KTEC has a 0.69% expense ratio, which is lower than KSPY's 0.78% expense ratio.

Dividends

KTEC vs. KSPY - Dividend Comparison

KTEC's dividend yield for the trailing twelve months is around 3.78%, less than KSPY's 5.85% yield.

Position	TTM	2025	2024	2023	2022
KSPY Kraneshares Hedgeye Hedged Equity Index ETF	5.85%	6.16%	1.31%	0.00%	0.00%
KTEC KraneShares Hang Seng TECH Index ETF	3.78%	3.36%	0.27%	0.81%	0.16%

Frequently Asked Questions

Can I hold both KTEC and KSPY in my portfolio?

KTEC and KSPY have a correlation of 0.39, 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 KSPY?

KTEC has higher volatility (10.62%) compared to KSPY (0.76%). In terms of maximum drawdown, KTEC dropped -66.90% vs KSPY's -11.67%.

Which ETF is better, KTEC or KSPY?

On 1-year performance, KSPY leads with 18.09% vs -8.17% for KTEC. On fees, KTEC is cheaper at 0.69% per year. On volatility, KSPY has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KTEC or KSPY?

Over the 1-year period, KSPY has performed better with a 18.09% return vs -8.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KTEC or KSPY?

KTEC is cheaper with a 0.69% expense ratio, compared with 0.78% for KSPY.

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

KSPY has the higher dividend yield at 5.85%, compared with 3.78% for KTEC.

What is the main difference between KTEC and KSPY?

KTEC is categorized as China Equities, while KSPY is Equity Hedged. KTEC tracks Hang Seng Tech Index, while KSPY tracks Hedgeye Hedged Equity Index. Their fees differ too: 0.69% for KTEC and 0.78% for KSPY.

Which has better risk-adjusted returns?

KSPY currently has the higher Sharpe Ratio (2.60 vs -0.29), 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.