KVLE vs. KLIP

Last updated Apr 1, 2026

Compare and contrast key facts about KFA Value Liner Dynamic Core Equity Index ETF (KVLE) and KraneShares China Internet and Covered Call Strategy ETF (KLIP).

KVLE and KLIP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KVLE is a passively managed fund by CICC that tracks the performance of the 3D/L Value Line Dynamic Core Equity Index. It was launched on Nov 24, 2020. KLIP is managed by CICC. It was launched on Jan 12, 2023.

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.

KVLE vs. KLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KVLE KFA Value Liner Dynamic Core Equity Index ETF	-2.24%	9.34%	18.25%	6.75%
KLIP KraneShares China Internet and Covered Call Strategy ETF	-8.98%	16.92%	3.37%	10.67%

Returns By Period

In the year-to-date period, KVLE achieves a -2.24% return, which is significantly higher than KLIP's -8.98% return.

KVLE

• 1D: 2.22%
• 1M: -5.83%
• YTD: -2.24%
• 6M: -3.41%
• 1Y: 8.52%
• 3Y*: 10.14%
• 5Y*: 8.53%
• 10Y*: —

KLIP

• 1D: 2.10%
• 1M: -5.77%
• YTD: -8.98%
• 6M: -12.63%
• 1Y: -1.25%
• 3Y*: 7.62%
• 5Y*: —
• 10Y*: —

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

KVLE vs. KLIP - Expense Ratio Comparison

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

KLIP

KraneShares China Internet and Covered Call Strategy ETF

KVLE

KFA Value Liner Dynamic Core Equity Index ETF

Return for Risk

KVLE vs. KLIP — Risk / Return Rank

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

KVLE

KVLE Risk / Return Rank: 32
KVLE Sharpe Ratio Rank: 29
KVLE Sortino Ratio Rank: 30
KVLE Omega Ratio Rank: 31
KVLE Calmar Ratio Rank: 33
KVLE Martin Ratio Rank: 36

KLIP

KLIP Risk / Return Rank: 11
KLIP Sharpe Ratio Rank: 11
KLIP Sortino Ratio Rank: 10
KLIP Omega Ratio Rank: 11
KLIP Calmar Ratio Rank: 11
KLIP Martin Ratio Rank: 10

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.

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.

	KVLE	KLIP	Difference
Sharpe ratio Return per unit of total volatility	0.53	-0.06	+0.59
Sortino ratio Return per unit of downside risk	0.87	0.05	+0.82
Omega ratio Gain probability vs. loss probability	1.12	1.01	+0.12
Calmar ratio Return relative to maximum drawdown	0.83	-0.08	+0.91
Martin ratio Return relative to average drawdown	3.33	-0.26	+3.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KVLE vs. KLIP - Sharpe Ratio Comparison

The current KVLE Sharpe Ratio is 0.53, which is higher than the KLIP Sharpe Ratio of -0.06. The chart below compares the historical Sharpe Ratios of KVLE and KLIP, 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

	KVLE	KLIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.53	-0.06	+0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.35	+0.38

Correlation

The correlation between KVLE and KLIP is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

KVLE vs. KLIP - Dividend Comparison

KVLE's dividend yield for the trailing twelve months is around 8.23%, less than KLIP's 28.24% yield.

	TTM	2025	2024	2023	2022	2021	2020
KVLE KFA Value Liner Dynamic Core Equity Index ETF	8.23%	7.90%	7.99%	2.53%	5.78%	9.51%	0.35%
KLIP KraneShares China Internet and Covered Call Strategy ETF	28.24%	25.14%	54.26%	61.22%	0.00%	0.00%	0.00%

Drawdowns

KVLE vs. KLIP - Drawdown Comparison

The maximum KVLE drawdown since its inception was -18.38%, roughly equal to the maximum KLIP drawdown of -18.61%. 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%	-18.61%	+0.23%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	-17.23%	+5.67%
Max Drawdown (5Y) Largest decline over 5 years	-18.38%	—	—
Current Drawdown Current decline from peak	-7.58%	-14.21%	+6.63%
Average Drawdown Average peak-to-trough decline	-3.27%	-3.34%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	5.18%	-2.29%

Volatility

KVLE vs. KLIP - Volatility Comparison

The current volatility for KFA Value Liner Dynamic Core Equity Index ETF (KVLE) is 4.47%, while KraneShares China Internet and Covered Call Strategy ETF (KLIP) has a volatility of 7.16%. This indicates that KVLE experiences smaller price fluctuations and is considered to be less risky 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	4.47%	7.16%	-2.69%
Volatility (6M) Calculated over the trailing 6-month period	8.57%	13.48%	-4.91%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	19.76%	-3.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.54%	18.19%	-3.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.44%	18.19%	-3.75%