KURE vs. NBCE

Last updated Apr 2, 2026

Compare and contrast key facts about KraneShares MSCI All China Health Care Index ETF (KURE) and Neuberger Berman China Equity ETF (NBCE).

KURE and NBCE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KURE is a passively managed fund by CICC that tracks the performance of the MSCI China All Shares Health Care 10/40 Index. It was launched on Feb 1, 2018. NBCE is an actively managed fund by Neuberger Berman. It was launched on Oct 13, 2023.

Performance

KURE vs. NBCE - 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 Neuberger Berman China Equity ETF (NBCE). The values are adjusted to include any dividend payments, if applicable.

KURE vs. NBCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KURE KraneShares MSCI All China Health Care Index ETF	4.61%	24.87%	-17.83%	-2.46%
NBCE Neuberger Berman China Equity ETF	4.06%	39.08%	3.35%	-2.22%

Returns By Period

In the year-to-date period, KURE achieves a 4.61% return, which is significantly higher than NBCE's 4.06% return.

KURE

• 1D: 4.42%
• 1M: 2.80%
• YTD: 4.61%
• 6M: -11.73%
• 1Y: 15.86%
• 3Y*: -2.71%
• 5Y*: -11.28%
• 10Y*: —

NBCE

• 1D: 0.71%
• 1M: -5.73%
• YTD: 4.06%
• 6M: 5.31%
• 1Y: 34.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KURE vs. NBCE - Expense Ratio Comparison

KURE has a 0.65% expense ratio, which is lower than NBCE's 0.74% expense ratio.

NBCE

Neuberger Berman China Equity ETF

KURE

KraneShares MSCI All China Health Care Index ETF

Return for Risk

KURE vs. NBCE — Risk / Return Rank

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

KURE

KURE Risk / Return Rank: 28
KURE Sharpe Ratio Rank: 28
KURE Sortino Ratio Rank: 29
KURE Omega Ratio Rank: 27
KURE Calmar Ratio Rank: 31
KURE Martin Ratio Rank: 23

NBCE

NBCE Risk / Return Rank: 81
NBCE Sharpe Ratio Rank: 82
NBCE Sortino Ratio Rank: 79
NBCE Omega Ratio Rank: 80
NBCE Calmar Ratio Rank: 80
NBCE Martin Ratio Rank: 84

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. NBCE - 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 Neuberger Berman China Equity ETF (NBCE). 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	NBCE	Difference
Sharpe ratio Return per unit of total volatility	0.55	1.68	-1.14
Sortino ratio Return per unit of downside risk	0.90	2.15	-1.25
Omega ratio Gain probability vs. loss probability	1.12	1.33	-0.21
Calmar ratio Return relative to maximum drawdown	0.83	2.51	-1.69
Martin ratio Return relative to average drawdown	1.75	10.78	-9.03
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. NBCE - Sharpe Ratio Comparison

The current KURE Sharpe Ratio is 0.55, which is lower than the NBCE Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of KURE and NBCE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	KURE	NBCE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.55	1.68	-1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.70	-0.75

Correlation

The correlation between KURE and NBCE is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

KURE vs. NBCE - Dividend Comparison

KURE's dividend yield for the trailing twelve months is around 4.01%, more than NBCE's 1.27% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
KURE KraneShares MSCI All China Health Care Index ETF	4.01%	4.19%	1.29%	0.65%	0.05%	14.12%	0.00%	0.25%	0.21%
NBCE Neuberger Berman China Equity ETF	1.27%	1.32%	1.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

KURE vs. NBCE - Drawdown Comparison

The maximum KURE drawdown since its inception was -68.53%, which is greater than NBCE's maximum drawdown of -28.42%. Use the drawdown chart below to compare losses from any high point for KURE and NBCE.

Drawdown Indicators

	KURE	NBCE	Difference
Max Drawdown Largest peak-to-trough decline	-68.53%	-28.42%	-40.11%
Max Drawdown (1Y) Largest decline over 1 year	-22.72%	-13.14%	-9.58%
Max Drawdown (5Y) Largest decline over 5 years	-67.94%	—	—
Current Drawdown Current decline from peak	-54.45%	-6.47%	-47.98%
Average Drawdown Average peak-to-trough decline	-37.68%	-9.66%	-28.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.75%	3.09%	+7.66%

Volatility

KURE vs. NBCE - Volatility Comparison

KraneShares MSCI All China Health Care Index ETF (KURE) has a higher volatility of 8.58% compared to Neuberger Berman China Equity ETF (NBCE) at 6.08%. This indicates that KURE's price experiences larger fluctuations and is considered to be riskier than NBCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KURE	NBCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.58%	6.08%	+2.50%
Volatility (6M) Calculated over the trailing 6-month period	18.19%	13.52%	+4.67%
Volatility (1Y) Calculated over the trailing 1-year period	29.18%	20.37%	+8.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.95%	24.19%	+7.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.55%	24.19%	+8.36%