KVLE vs. KLIP

Last updated Aug 2, 2026

KVLE (KFA Value Liner Dynamic Core Equity Index ETF) and KLIP (KraneShares China Internet and Covered Call Strategy ETF) are both exchange-traded funds - KVLE is a Large Cap Value Equities fund tracking the 3D/L Value Line Dynamic Core Equity Index, while KLIP is a China Equities fund actively managed by KraneShares. KVLE is passively managed, while KLIP is actively managed. Over the past 3 years, KVLE returned 13.84%/yr vs 6.19%/yr for KLIP. Their 0.38 correlation means their historical movements had little consistent relationship. KVLE charges 0.56%/yr vs 0.95%/yr for KLIP.

Performance

KVLE vs. KLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KFA Value Liner Dynamic Core Equity Index ETF (KVLE) 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, KVLE achieves a 12.13% return, which is significantly higher than KLIP's -7.10% return.

KVLE

• 1D: 0.15%
• 1M: 0.21%
• 6M: 8.63%
• YTD: 12.13%
• 1Y: 18.47%
• 3Y*: 13.84%
• 5Y*: 10.27%
• 10Y*: —
• ALL TIME*: 12.59%

KLIP

• 1D: 0.31%
• 1M: 6.50%
• 6M: -11.47%
• YTD: -7.10%
• 1Y: -3.45%
• 3Y*: 6.19%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.43%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KLIP KraneShares China Internet and Covered Call Strategy ETF	$623.83K	$609.30K	$993.79K
KVLE KFA Value Liner Dynamic Core Equity Index ETF	$55.03K	$48.54K	$53.73K

KVLE vs. KLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KVLE KFA Value Liner Dynamic Core Equity Index ETF	12.13%	9.34%	18.25%	6.80%
KLIP KraneShares China Internet and Covered Call Strategy ETF	-7.10%	16.92%	3.37%	11.11%

Correlation

The correlation between KVLE and KLIP is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.37
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023	0.38

KVLE vs. KLIP - Sectors Allocation Comparison

Sectors	KVLE	KLIP
Technology	28.1%	4.2%
Financial Services	12.4%	2.0%
Real Estate	12.3%	3.9%
Industrials	11.8%	-
Consumer Cyclical	9.3%	34.2%
Healthcare	8.8%	6.0%
Consumer Defensive	6.4%	4.0%
Communication Services	4.7%	45.8%
Energy	4.1%	-
Basic Materials	2.0%	-
Utilities	0.6%	-

Return for Risk

KVLE vs. KLIP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KVLE

KVLE Risk / Return Rank: 62
KVLE Sharpe Ratio Rank: 68
KVLE Sortino Ratio Rank: 67
KVLE Omega Ratio Rank: 67
KVLE Calmar Ratio Rank: 51
KVLE Martin Ratio Rank: 59

KLIP

KLIP Risk / Return Rank: 7
KLIP Sharpe Ratio Rank: 7
KLIP Sortino Ratio Rank: 7
KLIP Omega Ratio Rank: 7
KLIP Calmar Ratio Rank: 8
KLIP Martin Ratio Rank: 8

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.

KVLE vs. KLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KFA Value Liner Dynamic Core Equity Index ETF (KVLE) 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.

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.

	KVLE	KLIP	Difference
Sharpe ratio: Return per unit of total volatility	1.56	-0.26	+1.82
Sortino ratio: Return per unit of downside risk	2.20	-0.25	+2.45
Omega ratio: Gain probability vs. loss probability	1.28	0.97	+0.31
Calmar ratio: Return relative to maximum drawdown	1.83	-0.20	+2.03
Martin ratio: Return relative to average drawdown	7.02	-0.46	+7.49

KVLE vs. KLIP - Sharpe Ratio Comparison

The current KVLE Sharpe Ratio is 1.56, which is higher than the KLIP Sharpe Ratio of -0.26. The chart below compares the historical Sharpe Ratios of KVLE 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.

Drawdowns

KVLE vs. KLIP - Drawdown Comparison

The maximum KVLE drawdown since its inception was -18.38%, smaller than the maximum KLIP drawdown of -21.48%. Use the drawdown chart below to compare losses from any high point for KVLE and KLIP.

Drawdown Indicators

	KVLE	KLIP	Difference
Max Drawdown Largest peak-to-trough decline	-18.38%	-21.48%	+3.10%
Max Drawdown (1Y) Largest decline over 1 year	-9.59%	-21.48%	+11.89%
Max Drawdown (3Y) Largest decline over 3 years	-16.39%	-21.48%	+5.09%
Max Drawdown (5Y) Largest decline over 5 years	-18.38%	—	—
Current Drawdown Current decline from peak	-0.70%	-12.44%	+11.74%
Average Drawdown Average peak-to-trough decline	-3.14%	-4.32%	+1.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	9.19%	-6.70%

Volatility

KVLE vs. KLIP - Volatility Comparison

KFA Value Liner Dynamic Core Equity Index ETF (KVLE) has a higher volatility of 2.79% compared to KraneShares China Internet and Covered Call Strategy ETF (KLIP) at 2.40%. This indicates that KVLE'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

	KVLE	KLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	2.40%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	8.66%	13.02%	-4.36%
Volatility (1Y) Calculated over the trailing 1-year period	11.25%	16.59%	-5.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.47%	17.99%	-3.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.24%	17.99%	-3.75%

KVLE vs. KLIP - Expense Ratio Comparison

KVLE has a 0.56% expense ratio, which is lower than KLIP's 0.95% expense ratio.

Dividends

KVLE vs. KLIP - Dividend Comparison

KVLE's dividend yield for the trailing twelve months is around 7.45%, less than KLIP's 27.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
KLIP KraneShares China Internet and Covered Call Strategy ETF	27.63%	25.14%	54.26%	61.22%	0.00%	0.00%	0.00%
KVLE KFA Value Liner Dynamic Core Equity Index ETF	7.45%	7.90%	7.99%	2.53%	5.78%	9.51%	0.35%

Frequently Asked Questions

Can I hold both KVLE and KLIP in my portfolio?

KVLE and KLIP 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, KVLE or KLIP?

KVLE has higher volatility (2.79%) compared to KLIP (2.40%). In terms of maximum drawdown, KVLE dropped -18.38% vs KLIP's -21.48%.

Which ETF is better, KVLE or KLIP?

On 3-year performance, KVLE leads with 13.84% vs 6.19% for KLIP. On fees, KVLE is cheaper at 0.56% per year. On volatility, KLIP has been the lower-risk option at 2.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KVLE or KLIP?

Over the 3-year period, KVLE has performed better with a 13.84% return vs 6.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KVLE or KLIP?

KVLE is cheaper with a 0.56% expense ratio, compared with 0.95% for KLIP.

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

KLIP has the higher dividend yield at 27.63%, compared with 7.45% for KVLE.

What is the main difference between KVLE and KLIP?

KVLE is categorized as Large Cap Value Equities, while KLIP is China Equities. They also come from different issuers: CICC and KraneShares. Their fees differ too: 0.56% for KVLE and 0.95% for KLIP.

Which has better risk-adjusted returns?

KVLE currently has the higher Sharpe Ratio (1.56 vs -0.26), 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.