KURE vs. KLIP

Last updated Jun 4, 2026

KURE (KraneShares MSCI All China Health Care Index ETF) and KLIP (KraneShares China Internet and Covered Call Strategy ETF) are both exchange-traded funds - KURE is a China Equities fund tracking the MSCI China All Shares Health Care 10/40 Index, while KLIP is a Options Trading fund managed by CICC. Over the past 3 years, KURE returned -6.04%/yr vs 8.39%/yr for KLIP. A 0.59 correlation means they provide meaningful diversification when combined. KURE charges 0.65%/yr vs 0.95%/yr for KLIP.

Performance

KURE vs. KLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares MSCI All China Health Care Index ETF (KURE) and KraneShares China Internet and Covered Call Strategy ETF (KLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KURE achieves a -10.68% return, which is significantly lower than KLIP's -7.94% return.

KURE

• 1D: -2.87%
• 1M: -12.23%
• YTD: -10.68%
• 6M: -15.54%
• 1Y: -5.05%
• 3Y*: -6.04%
• 5Y*: -16.33%
• 10Y*: —

KLIP

• 1D: -2.14%
• 1M: -2.02%
• YTD: -7.94%
• 6M: -9.28%
• 1Y: 1.16%
• 3Y*: 8.39%
• 5Y*: —
• 10Y*: —

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

KURE vs. KLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KURE KraneShares MSCI All China Health Care Index ETF	-10.68%	24.87%	-17.83%	-24.74%
KLIP KraneShares China Internet and Covered Call Strategy ETF	-7.94%	16.92%	3.37%	10.67%

Correlation

The correlation between KURE and KLIP 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	0.57
Correlation (All Time) Calculated using the full available price history since Jan 13, 2023	0.59

The correlation between KURE and KLIP shifts across timeframes, from 0.46 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

KURE vs. KLIP - Sectors Allocation Comparison

Sectors	KURE	KLIP
Healthcare	99.3%	6.9%
Consumer Defensive	0.7%	4.3%
Basic Materials	-	-
Communication Services	-	40.1%
Consumer Cyclical	-	38.4%
Energy	-	-
Financial Services	-	2.0%
Industrials	-	-
Real Estate	-	4.8%
Technology	-	3.6%
Utilities	-	-

Return for Risk

KURE vs. KLIP — Risk / Return Rank

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

KURE

KURE Risk / Return Rank: 7
KURE Sharpe Ratio Rank: 7
KURE Sortino Ratio Rank: 7
KURE Omega Ratio Rank: 7
KURE Calmar Ratio Rank: 7
KURE Martin Ratio Rank: 7

KLIP

KLIP Risk / Return Rank: 9
KLIP Sharpe Ratio Rank: 9
KLIP Sortino Ratio Rank: 9
KLIP Omega Ratio Rank: 9
KLIP Calmar Ratio Rank: 9
KLIP Martin Ratio Rank: 9

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.

KURE vs. KLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares MSCI All China Health Care Index ETF (KURE) and KraneShares China Internet and Covered Call Strategy ETF (KLIP). 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.

	KURE	KLIP	Difference
Sharpe ratio: Return per unit of total volatility	-0.19	0.07	-0.27
Sortino ratio: Return per unit of downside risk	-0.09	0.21	-0.30
Omega ratio: Gain probability vs. loss probability	0.99	1.03	-0.04
Calmar ratio: Return relative to maximum drawdown	-0.18	0.07	-0.26
Martin ratio: Return relative to average drawdown	-0.39	0.17	-0.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KURE vs. KLIP - Sharpe Ratio Comparison

The current KURE Sharpe Ratio is -0.19, which is lower than the KLIP Sharpe Ratio of 0.07. The chart below compares the historical Sharpe Ratios of KURE and KLIP, 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

	KURE	KLIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.19	0.07	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	0.35	-0.46

Drawdowns

KURE vs. KLIP - Drawdown Comparison

The maximum KURE drawdown since its inception was -68.53%, which is greater than KLIP's maximum drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for KURE and KLIP.

Drawdown Indicators

	KURE	KLIP	Difference
Max Drawdown Largest peak-to-trough decline	-68.53%	-18.61%	-49.92%
Max Drawdown (1Y) Largest decline over 1 year	-27.53%	-15.97%	-11.56%
Max Drawdown (3Y) Largest decline over 3 years	-34.05%	-18.61%	-15.44%
Max Drawdown (5Y) Largest decline over 5 years	-67.94%	—	—
Current Drawdown Current decline from peak	-61.11%	-13.22%	-47.89%
Average Drawdown Average peak-to-trough decline	-38.07%	-3.79%	-34.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.13%	6.70%	+6.43%

Volatility

KURE vs. KLIP - Volatility Comparison

KraneShares MSCI All China Health Care Index ETF (KURE) has a higher volatility of 7.23% compared to KraneShares China Internet and Covered Call Strategy ETF (KLIP) at 5.71%. This indicates that KURE's price experiences larger fluctuations and is considered to be riskier than KLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KURE	KLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.23%	5.71%	+1.52%
Volatility (6M) Calculated over the trailing 6-month period	17.67%	12.86%	+4.81%
Volatility (1Y) Calculated over the trailing 1-year period	26.49%	15.84%	+10.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.86%	18.13%	+13.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.39%	18.13%	+14.26%

KURE vs. KLIP - Expense Ratio Comparison

KURE has a 0.65% expense ratio, which is lower than KLIP's 0.95% expense ratio.

Dividends

KURE vs. KLIP - Dividend Comparison

KURE's dividend yield for the trailing twelve months is around 4.70%, less than KLIP's 28.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
KLIP KraneShares China Internet and Covered Call Strategy ETF	28.17%	25.14%	54.26%	61.22%	0.00%	0.00%	0.00%	0.00%	0.00%
KURE KraneShares MSCI All China Health Care Index ETF	4.70%	4.19%	1.29%	0.65%	0.05%	14.12%	0.00%	0.25%	0.21%

Frequently Asked Questions

Can I hold both KURE and KLIP in my portfolio?

KURE and KLIP 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, KURE or KLIP?

KURE has higher volatility (7.23%) compared to KLIP (5.71%). In terms of maximum drawdown, KURE dropped -68.53% vs KLIP's -18.61%.

Which ETF is better, KURE or KLIP?

On 3-year performance, KLIP leads with 8.39% vs -6.04% for KURE. On fees, KURE is cheaper at 0.65% per year. On volatility, KLIP has been the lower-risk option at 5.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KURE or KLIP?

Over the 3-year period, KLIP has performed better with a 8.39% return vs -6.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KURE or KLIP?

KURE is cheaper with a 0.65% expense ratio, compared with 0.95% for KLIP.

Which ETF pays a higher dividend yield, KURE or KLIP?

KLIP has the higher dividend yield at 28.17%, compared with 4.70% for KURE.

What is the main difference between KURE and KLIP?

KURE is categorized as China Equities, while KLIP is Options Trading. Their fees differ too: 0.65% for KURE and 0.95% for KLIP.

Which has better risk-adjusted returns?

KLIP currently has the higher Sharpe Ratio (0.07 vs -0.19), 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.